Marvin Moskowitz is credited with leading Prudential Insurance Company of America's mortgage business through a decade of extraordinary growth. A few weeks ago, he became an observer rather than a leader when Pru sold the last major piece of that still-thriving business.

Mr. Moskowitz took the occasion to warn that some of the newer entrants into the often-volatile business do not understand the risks or opportunities involved.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.