In this thought-provoking segment of Lykken on Lending, industry leaders unpack the Fed’s “foggy” direction, the pressures lenders face from shrinking margins, and why the mortgage industry continues to repeat many of the same mistakes from past cycles. Drawing on decades of experience, voices like Bill Corbet, David Kittle, Marc Helm, and Alice Alvey tackle everything from subsidized pricing and technology inefficiencies to GSE risk and political influence, calling for renewed accountability, smarter data use, and genuine reform. It’s a candid conversation about lessons unlearned—and the resilience needed to move the industry forward.