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The Importance of Following Politics in the Mortgage Industry

David Lykken
Nov 18, 2015

Especially as it gets closer to an election cycle, I tend to comment a lot on what's going on in the world of politics. On my Lykken on Lending radio show, we often get into some discussions about political trends as they relate to the mortgage industry. Every once in a while, someone will ask me why I spend the time talking about politics? What does it have to do with the mortgage industry?

Although, like everyone else, I do have opinions about which political perspectives are best for the country and for individual voters. However, I try not to take a personal position when it comes to the mortgage industry. What matters when it comes to the mortgage industry is what sort of policy the potential administrations are likely to implement. Those who make and enforce the laws of our country, as we've seen very clearly in recent years, have a direct effect on how we can operate in the industry. We're doing ourselves a great disservice if we don't pay attention.

As we get closer to the 2016 Presidential election, you'll probably hear me talking even more about what's going on in the world of politics. And there is good reason for this … we in the industry need to pay attention to how the positions that candidates take will impact the mortgage business. What happens a year from now will set the stage for the industry over the course of the following four years. If you are in the industry and you have not been paying attention to the current events in politics, now is the time. Regulation starts on the campaign trail.



 

David Lykken, a 43-year veteran of the mortgage industry, is president of Transformational Mortgage Solutions (TMS), a management consulting firm that provides transformative business strategies to owners and “C-Level” executives via consulting, executive coaching and various communications strategies. He is a frequent guest on FOX Business News and hosts his own weekly podcast called “Lykken On Lending” heard Monday’s at 1:00 p.m. ET at LykkenOnLending.com. David’s phone number is (512) 759-0999 and his e-mail is [email protected].

Published
Nov 18, 2015