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mnotes The Industry Weighs In—Housing Outlook 2016 T hough there are still two months left in 2015, economists, industry analysts, and other mortgage professionals have already gotten a jump on predicting what is in store for 2016. Among the hot topics being discussed? Interest rates, housing starts, and of course, general economic and industry health. We've devoted this issue to helping you sift through the multiple viewpoints clogging the headlines by rounding up some of today's most notable and respected real estate and mortgage voices. In "Charting the Course," author Brian A. Lee surveyed some of the industry's top economists to get their expert opinions about whether 2016 will be smooth sailing or present choppy waters. Featured experts include Dean Baker, co-founder, The Center for Economic and Policy Research; Anthony Chan, chief economist, JPMorgan Chase; Doug Duncan, chief economist, Fannie Mae; and Frank Nothaft, SVP and chief economist, CoreLogic. Next, industry pros get their turn to voice their predictions—with professionals such as Ron Ahlensdorf, Jr., president, Summit Valuations, LLC; Ben Graboske, SVP, Black Knight Financial Services' Data and Analytics division; Keith Guenther, CEO and co-founder of USRES and RES.NET; Joseph Murin, JJAM Financial Services chairman and former president of Ginnie Mae; and Ann Song, VP of asset management, LRES; casting their predictions. Next, in "Stats, Starts, and Seeing into the Future," Metro-West's COO, Brandon Boudreau, uses current market benchmarks to give his predictions for 2016, including how the appraisal industry will be affected by an aging population of professionals. Boudreau examines metrics such as home prices, inventory, housing starts, interest rates, and millennial involvement to form his 2016 outlook. Then, in "Tracking New Trends," Jim Jumpe, VP of marketing and product development at ARCH MI, uses his background in mortgage insurance to present lenders who are wishing to move into portfolio lending in the new year with strategies that can help grow their business. Of course, don't get so caught up in market predictions that you miss our cover story, "Opportunity Knocks." The landscape of mortgage lending is changing. In the wake of the housing crisis, big bank lenders are pulling back, leaving opportunities for smaller, nonbank lenders. In return, these companies are addressing the pent-up demand for housing and are providing opportunities for potential buyers who have been overlooked by the big banks. One such company, Pacific Union Financial, LLC, founded by Evan Stone, is embracing the market's opportunities. All the best, Rachel Williams Editor 2 | Th e M Rep o RT editor Rachel Williams online editor Xhevrije West online contributor Brian honea copy editors Krista Franks Brock Aly Yale contributors Brandon Boudreau Jim Jumpe Brian A. Lee elaine pofeldt creative director Jason Stone art director Denis Kashoid Jonathon Won design director Sean Walker advertising Suzanne Andresen (207.443.3314) Robyn Clayton (214.525.6716) Kevin McCrea (214.525.6756) Jason Myers (214.525.6760) Lindsay Wolf (214.525.6713) corporate officers chairman & chief creative officer Mark hulme president & chief executive officer ed Delgado chief financial officer John harrison director of hr/accounting ernest Gillespie art direction Denis Kashoid Jason Stone Sean Walker Jonathon Won No part of this publication may be reproduced without written permission from the publisher. ©2015 Reo publishing LLC All Rights Reserved This publication is intended to provide accurate, authoritative, and detailed information in regard to the subject matter covered. All written materials are disseminated with the understanding that the publisher is not engaged in rendering legal advice or other professional services. Under no circumstance should the information contained herein be relied upon as legal advice as it is designed to be a source of information only. MReport strongly encourages the use of qualified attorneys or other qualified experts with regard to the subject matter covered. MReport does not guarantee the accuracy of the information and is not liable for any damages, losses, or other detriment that may result from the use of these materials. © 2011 First American Financial Corporation and/or its affiliates. All rights reserved. YOUR business is OUR business! First American Mortgage Services is laser focused on mitigating YOUR cost, risk and exposure by aligning our advanced solutions with YOUR strategic objectives and compliance needs. We are the New First American, over 120 years young, strong and financially secure. Insight | Innovation | Integrity First American Title Insurance Company and First American Mortgage Services make no express or implied warranty respecting the information presented and assume no responsibility for errors or omissions. FIRST AMERICAN and FIRST AMERICAN TITLE are trademarks owned by First American Financial Corporation. 2 | Th e M Rep o RT Publisher Jon Ball contributing editor Abby Gregory online editor theMrePort.coM Ryan Schuette coPy editors Alison Rich emily White Youree heather hill contributors phil Britt Bob Calandra eric Fox Jack Konyk Mark Lieberman creative director Jason Stone art director Jonathan Won associate art directors Bruce Sons Chanyanont Loha-Unchit design director Sean Walker advertising Dina Duncan (214.525.6740) Jason Myers (214.525.6760) Andi Zimmerman (214.525.6724) technology Toby Tull Brandon Shangraw social Media Leon McKenzie Ani Vera circulation/corresPondence Celina Avila corPorate officers chairMan & chief creative officer chief executive officer Mark hulme edward R. Delgado business develoPMent Andi Zimmerman chief financial officer John harrison director of huMan resources ernest Gillespie director of oPerations Toby Tull account executives senior account executive Donna Lott (214.525.6792) sPonsorshiPs Jason Myers (214.525.6760) account executives Renee Charles (214.525.6742) Thomas Griffin (214.525.6754) Kristin Larson (214.525.6713) Ryan McLemore (214.525.6706) Marketing Travis Bogdon Matt hulme Production Kyle Curtis Miguel Martinez Christian McCrossan concierge Celina Avila art direction Jason Stone Sean Walker Jonathan Won No part of this publication may be reproduced without written permission from the publisher. ©2011 Reo publishing LLC All Rights Reserved This publication is intended to provide accurate, authoritative, and detailed information in regard to the subject matter covered. All written materials are disseminated with the understanding that the publisher is not engaged in rendering legal advice or other professional services. Under no circumstance should the information contained herein be relied upon as legal advice as it is designed to be a source of information only. MReport strongly encourages the use of qualified attorneys or other qualified experts with regard to the subject matter covered. MReport does not guarantee the accuracy of the information and is not liable for any damages, losses, or other detriment that may result from the use of these materials. FORDEFAULTSERVICINGPROFESSIONALS THEFIVESTARINSTITUTE Follow us.