As the US housing crisis rumbled on, mortgage bankers gathered in Boston this week to share strategies for riding out the storm, and in the hope of identifying signs of a turning point for the beleaguered market.

“It’s very hard to see exactly where you are when you’re in the middle of such turmoil,” said David Kittle, chairman-elect of the Mortgage Bankers’ Association, in his opening address to the assembled lenders, servicers and securitisers.