
Why Skills-First Leadership Is Replacing the Ivy League Playbook in the C-Suite
The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
October 19, 2021: According to the Mortgage Bankers Association’s releasing annual forecast, which raised interest rates will result in a sharp drop in refinance demand in the year 2022, meaning a lot less business for mortgage bankers. It predicts total origination volume will drop 33% to $2.59 trillion. MBA economists say that the average rate on the popular 30-year fixed loan will rise to 4%, a whole percentage point higher than it is now. That will result in a 62% drop in refinance originations to just $860 billion. It deepens the anticipated 14% decline in 2021 to $2.26 trillion.
“The economy and labor market rebounded in 2021, but overall growth fell short of expectations because of stubborn supply chain issues that fueled faster inflation, slowed consumer spending, and presented challenges in filling the record number of job openings available,” said Michael Fratantoni, MBA’s chief economist. “With inflation elevated and the unemployment rate dropping fast, the Federal Reserve will start to taper its asset purchases by the end of this year and will raise short-term rates by the end of 2022.”
However, originations to buy a home are forecast to rise 9% to a new record of $1.73 trillion in 2022.
Overall, this marks a change from the record-high production profits of the year 2020, when interest rates dropped to record lows and homebuyer demand soared because of the pandemic. The drop will likely result in increased competition among lenders.
“Many lenders will rely heavily on their servicing business to achieve financial goals,” said Marina Walsh, MBA’s vice president of industry analysis. “The servicing outlook is complicated today, with the expiration of many COVID-19-related forbearances and the need to place borrowers into post-forbearance workouts.”
Walsh also said that servicing costs may rise as servicers work to meet the needs and requirements of borrowers, investors, and regulators.
The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
Loud leaders once ruled the boardroom. Charisma was currency. Big talk drove big valuations.
But the CEOs who make history in downturns aren’t the ones with the deepest cuts
Companies invest millions in leadership development, yet many of their best executives leave within a few years. Why?
The most successful business leaders don’t just identify gaps in the market; they anticipate future needs before anyone else.
With technological advancements, shifting consumer expectations, and global interconnectedness, the role of business leaders
Maushum Basu is a visionary leader who inspires his team with a clear, compelling purpose. Unafraid to take calculated risks, he understands that growth often stems from change and innovation. His deep commitment to both Airia Brands, Inc.
When speaking with Martin Paquette, one thing is immediately apparent: he’s honest. His transparency is refreshing. While many shy away from such vulnerability, Paquette sees it as a force to reckon with. The incredible emotional intelligence speaks to years of looking within—it’s also what allows him to acknowledge his mistakes gracefully and use them as opportunities to innovate.
Marina Charriere, CEO of Star Drug Testing Services, Star Drug Testing Services (Windsor Park), and First Defence Face Masks go hand in hand. Star is a drug and alcohol testing facility, and First D F M is a face mask company.
Lejjy Gafour, CEO, CULT Food Science Corp. Lejjy is a self-taught entrepreneur and experienced company operator who made his start creating opportunities at the young age of 14, and he has been working, leading, and building businesses ever since.
Leave us a message
Subscribe
Fill the form our team will contact you
Advertise with us
Fill the form our team will contact you