As businessmen begin to implement strategies for 2008, it is important to step back and take a hard look at their business. While the cyclical nature of housing and mortgage markets has always been a principal factor in long-and short-term strategies for growth and profitability, today's mortgage industry is faced with complex problems that go beyond historic norms. The complex problems you see today are most successfully addressed by a return to the basics. The most significant action the mortgage industry can take toward restoring consumer confidence is preserving homeownership. Lenders must adapt to the reality of a substantially smaller originations market. Simultaneously, they must not lose sight of the fact that owning a home remains the American Dream. A return to basics can and will restore both consumer confidence and the mortgage industry's leadership position in addressing the nation's housing needs.
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