This week’s HW+ member spotlight features Josh Mettle, division president at NEO Home Loans. With over 20 years of mortgage experience, Mettle has dedicated his career to the mortgage industry. Prior to NEO Home Loans, Mettle served as senior vice president, director of physician lending at Fairway Independent Mortgage Corporation. He also is an author, podcast host and professional mortgage and life coach, helping the industry better understand how Physician Home Loans work.
Below, Mettle answers questions about the housing industry:
HousingWire: To start off, what is your current favorite HW+ article?
Josh Mettle: “Pending home sales shock 2021 housing crash bears,” by Logan Mohtashami – this article sums up what I’ve been saying for many years, supply & demand are king!
HousingWire: What has been one of your biggest learning opportunities?
Josh Mettle: Leaving my last two employers. Every time I’ve had the courage to move forward with my career, I’ve learned more in the next 12 months than I had in the last 5 to 10 years.
HousingWire: What has been the most useful tech tool for you?
Josh Mettle: It’s a tie between Mortgage Coach TCA and BNTouch CRM. I could not run my business without either of them.
HousingWire: What’s the best piece of advice you’ve ever received?
Josh Mettle: Seek to understand before you seek to be understood.
HousingWire: If you had picked a different career path what would it be?
Josh Mettle: Financial Advisor.
HousingWire: What are 2-3 trends that you’re closely following?
Josh Mettle: (1) Housing will continue to appreciate (albeit at a slower pace) until the supply of housing reaches balanced inventory levels. It appears homebuilders will need a minimum of 3-5 years before they catch up.
(2) Record home equity levels will create an abundance of opportunity for households to get their debts restructured and reduce outgoing expenses. This will be important as households feel the budget crunch from inflation.
(3) Inflation and higher interest rates will likely lead us into the next recession, which contrary to popular belief, can be positive for the housing market due to lower interest rates.
HousingWire: What do you think will be the big themes for the housing market in 2022?
Josh Mettle: Higher appreciation rates than many are forecasting. Supply and demand will continue to dominate, and with tight labor markets and brisk wage growth, housing affordability will remain better than the historic norm.
HousingWire: What’s one thing that people aren’t paying attention to that you think they should be paying attention to?
Josh Mettle: Inflation robs from the lender and gives to the borrower. Loan officers should be helping clients understand how borrowing for as long as possible benefits the borrower because paying back today’s mortgage with 2030, 2040, or 2050 dollars is a great deal for the borrower. Inflation pushes wages up, but the cost of the debt remains the same, therefore you want to spread that debt out for 30 or 40 years if possible.
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