Despite what you may have heard or read, the real crisis in the mortgage lending world isn’t being talked about at all. But speak with anyone who has applied for a mortgage recently, and you’ll hear that consumer trust in mortgage bankers, brokers and lenders has fallen sharply. Mortgage advertising and lead generation activity is turning consumers away in disbelief. And, worst of all, this negativity may be putting the entire industry’s reputation at stake.

Harris Interactive recently conducted a poll of 2,383 adults. The results were shocking, to say the least. 22% were convinced that mortgage advertising and marketing is not credible, or even downright deceptive.

During the housing boom, the world of mortgage lending experienced unprecedented growth, but unfortunately, it also opened the door for historic levels of predatory lending, fraud and financial crimes that led to a slew of lawsuits and organized crime investigations. Some consumers are starting to use words like conspiracy, fraud and collusion in their everyday conversations about mortgages, and this is sending up huge red flags in the corporate offices of many lenders, already feeling the heat for the growing foreclosure problem on top of the subprime meltdown.

Alas, there seems to be no good news for mortgage lenders these days. In their efforts to fix the problems, they’ve had to raise interest rates, which in turn pushes monthly mortgage payments higher and higher - and then finally out of reach for more and more consumers. These rate hikes in turn affect adjustable mortgages, which has pushed an ever-growing number of borrowers into foreclosure.

The industry has a long way to go to regain the public trust as a whole. Individual mortgage bankers and brokers will have to spend much more time and effort explaining to potential borrowers what they can afford, what they can expect, and spend more time guiding their customers through the loan process. Those dubious individuals that make empty promises, or don’t deliver on their word, will find their days numbered.

But perhaps there is one bright spot here, after all. Mortgage professionals who are able to adapt, flourish and succeed during this crisis will discover that they have created a network of consumers and real estate professionals who trust them and their companies, and who happily refer others their way.