Mortgage banking bound: Investing in the future of the industry

by 16 Feb 2015
By David Lykken
 Special to MPA

Last week, I received notification that the Mortgage Banker's Association is offering a program called Mortgage Banking Bound for people who are interested in becoming a part of the industry. The program is focused on college students and graduates, but its intent is to bring talented people from all walks of life into the industry who would have not otherwise considered it.

As industry leaders, I think we often get caught up in the present. Like so many other areas of life, we forget that the next generation will be the future of the mortgage business. There are two ways in which people can enter the industry--on purpose and by accident. Many young people enter the industry inadvertently through a job posting or internship, but I would imagine that there are few at this time who are deliberately and unilaterally intent on entering the mortgage business.

As we recruit for the future in the mortgage industry, we need to pay close attention to the message we're sending potential candidates. We want the next generation to value the industry the way we do. We want the next generation to take pride in the mortgage business as an end, and not simply as a means. The MBA's new program is certainly a good start to getting us thinking in that direction. So, take some time and think about some people in your life who may be interested. As we all know, the future is a product of what we're willing to invest in the present.

A regular contributor on CNBC and Fox Business News, David also hosts a successful weekly radio program called “Lykken On Lending” (www.LykkenOnLending.com) that is heard each Monday at noon (Central Standard Time) by thousands of mortgage professionals. Recently he started producing a 1-minute video called “Today’s Mortgage Minute” that appears on hundreds of television, radio and newspaper websites daily across America.

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