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Over the last 12 months, residential lending has faced its fair share of woes on the balance sheet compared to the record-setting years in the industry between 2020 and 2021. However, that blip on the radar, in comparison to "normal" market years, is still a topic that lenders reminisce about today. I liken that period to the antithesis of September 2007, the start of the Great Recession. For industry insiders who have been in the business since 2006, it's what the "war stories" of the mortgage industry are made of when sharing those highs and lows.
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