The interviewer wants to see that you have a pulse on major financial topics. Offer a personal analysis based on data, trends you have observed, and articles you have read. Even if you are not involved in mortgage lending, you can observe the bigger picture to make an accurate assessment, just as you would for a company or a client.
"The major mortgage crisis in the United States started in 2007, but the effects are still in full swing, including the turmoil of un-affordable debt that many people now struggle with. From my understanding, the subprime mortgage crisis occurred because of a flawed financial model, far too much borrowing, and many people believing that home prices were soon to soar. Now, the mortgage crisis continues and it is incredibly difficult for home buyers to quality for a mortgage. In the end; however, I do believe that the stricter approval process has created a stronger financial system, overall."