Sample Essay – Mortgage Industry
To ensure that efforts to transform the market achieve the intended goal of stabilizing the market and ensuring continued growth, the managers should conduct seminars and open forums and provide information on homeownership. Such initiatives from the managers could be utilized in ensuring that misunderstanding and misrepresentation of facts on mortgage related issues are avoided, hence reducing liability and realtor. Stricter lender requirements can be implemented, for example, by requesting reserve money set aside in case of future unemployment, which will reduce the lender’s foreclosures (Kratovil and Werner 2010).
Initiatives from the Managers in the Mortgage Industry in the US
Proper market transformation programs also need to be implemented in order to ensure that the industries’ already tainted image is favorable to people. This could be done through proper planning and organization among the top managers and other industry stakeholders.
The mortgage industry’s leadership should be very ambitious to ensure that the management plans fully reflect the global need for people to acquire homes through more transparent, efficient, and properly organized marketing strategies.
The leadership should employ better methodologies to raise funds in the industry to ensure the resources are needed to rebuild the mortgage industry’s damaged image and business networks. The leadership should emphasize a more transparent, less bureaucratic, more efficient and cost-effective way of giving mortgage packages to people.
Stimulus packages from the government could also be requested for the company’s management to use in catering to the debts that already exist. Such assistance would provide a better startup platform for the industry’s management to fully concentrate on efforts to ensure that more cost-effective and efficient marketing methods in the mortgage industry are put into practice (Shanker 2008).
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