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Gibson Outlines What’s Ahead For The Mortgage Industry

Navi Persaud
Oct 01, 2020
Photo of John Gibson and quote from Sept. 30 livestream.

Flagstar senior vice president John Gibson appeared on Mortgage Leadership Outlook on Wednesday, Sept. 30. He joined series' host Andrew Berman, head of engagement and outreach for National Mortgage Professional magazine, as they discussed his dedication to mortgage brokers and third-party originations, how mortgage brokers can be successful in 2021, and how Flagstar was ready to help mortgage brokers during the pandemic.

Gibson has almost two-and-a-half decades experience focused on helping mortgage brokers grow their business with brands like Wachovia, Caliber and now Flagstar.

He got into the mortgage business right after college, after taking the summer off. While on vacation, a friend urged him to apply for a job in the mortgage industry. He was interested in the sales aspect and from that point, he has solely been in the mortgage industry.

Highlights From The Interview:

  • Gibson told Berman that he made the switch from retail to a broker because he loved the fact that you’re working with other business owners in the mortgage industry specifically.
  • He attributed his success to playing competitive sports, specifically basketball. He compared it to playing the point guard position. He said there is a lot of teamwork and hard work that goes into doing what you do. He also said that competing fairly, teamwork, sportsmanship and, ultimately, leadership skills were all developed through sports and relates to the mortgage industry.
  • “I think rates going into 2021? by all accounts, from people that are way more educated and have much higher expertise on this than I do, are saying that rates are going to be historically low and stay at these levels going into 2022.”
  • “I think you’re going to see 2020 continue to finish out strong going into the fourth quarter and then, 2021 I think will be a very strong year. The overall size of the market will decrease slightly.”
  • He predicts that refinance activity will be strong through the first and second quarters. Additionally, over the course of 2021, refinances will then take a back seat to purchases.
  • “I think one of the things that everybody needs to be doing, more so than ever, is investing in 2021 now, not when 2021 hits. I think things like a business plan and sticking to it and holding yourself accountable, is important for the industry.”
  • “A lot of the times individuals look at how can I mitigate expense to maximize my profits, I think that’s looking at it wrong. I think that you need to invest and spend so that you can make yourself sustainable 5-10 years down the road.”

Check out the full conversation between Gibson and Berman below.

Previous guests include Robert Broeksmit, Josh Friend, Joe Dahleen, Tim Nguyen, Kristy Fercho, Tony Thompson, Mat Ishbia, David Luna, Barry Habib, Rob Chrisman and more.

See all the interviews from the Mortgage Leadership Outlook series on its YouTube channel.

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