Capital markets

Efforts to expand diversity and inclusion are critical to any industry, but they're becoming especially important in mortgage finance, where the customer base is evolving and more millennial and multicultural consumers are ready to buy homes.

To commemorate the 40th anniversary of National Mortgage News, we look to the future of the mortgage industry — a future that lies at the intersection of people, policy, technology and capital.

So long as government-backed entities are guaranteeing 90% of originations, competition that could result in greater mortgage options for borrowers is being stifled. But a return of private capital to the market, possibly through securitization, could fix that.

From helping to create one of the first loan origination systems to setting the stage for the financial crisis, these 10 people left an indelible mark on the mortgage industry. But where are they now?

If the past 40 years has revealed anything about the mortgage industry, it's that change is constant, and inevitable. From the future of Fannie and Freddie to the role technology will play in underwriting, here's a look at 10 bold predictions that will shake up the mortgage industry.

Here's a look at some of the mortgage industry's most pioneering ideas and trends that have created legacies that have outlasted the companies that established them.

Over the next 40 years, the rate of homeownership is likely to continue to decline further as changes in demographic trends, increased regulation and stagnant incomes make that dream harder to achieve.

The events of the past 40 years pale in comparison to the strides the mortgage industry has made with technology, from pen-and-paper processes to handheld interest rate checks in minutes. The most exciting part: the best is yet to come.

Fannie Mae and Freddie Mac can still manage their risk exposure even after reducing or eliminating "loan level price adjustment" fees.

Mortgage rates moved slightly higher in reaction to Federal Reserve Board Chair Janet Yellen's Aug. 26 speech, but still remain near their all-time record lows, according to Freddie Mac.