The Lykken on Lending program will feature our Weekly Mortgage Updates with Adam DeSanctis and his MBA Mortgage Minute , and then Les Parker’s TMSpotlight , a macroeconomic perspective on the economy with a music parody. That leads to Matt Graham of MBS Live providing you a rate & market update , followed by David Kittle , Chief Executive Officer @ Cypress Mortgage Capital, to discuss mortgage originations. Then we have Alice Alvey of Union Home providing a regulatory & legislative updat...
Jun 17, 2024•48 min
MBS Live Market Update highlights a volatile week for the bond market influenced by mixed economic data, Treasury auctions, and key reports, with a focus on upcoming CPI data and the Fed's next announcement. ----------------------------------------------------- Matt began as an originator in 2002. He fell in love with the idea of following MBS in real-time but felt that existing products were only scratching the surface. Thus was born MBS Live in 2007, the first-of-its-kind platform with real-ti...
Jun 17, 2024•6 min
06-10-2024 Is Data "Tutti" or "Fruiti"? ------------------------- “Little Richard, what about the data-sensitive market?” Tutti Frutti, go uppie. Tutti frutti, go downie. Tutti Frutti, go uppie. How many angels can dance on the head of a pin? About half. Yet traders keep dancing with every datum as if it changes the world while keeping prices within tightening ranges. Their dancing matters since no one knows the grain of sand that moves the pile. With healthy two-way flows and rigorous debate ov...
Jun 17, 2024•1 min
The CFPB's new final rule requires non-bank covered persons to register agency or court orders with the CFPB, a move the MBA deems unnecessary and redundant, with the rule set to take effect on September 16, 2024. ------------------------------------------------------------- Adam DeSanctis , Director of Public Affairs at Mortgage Bankers Association As a strategic public affairs and communications executive with nearly two decades of experience, Adam has deep expertise in strategy, management, a...
Jun 17, 2024•2 min
The Consumer Financial Protection Bureau's (CFPB) recent request for information (RFI) on fees causing consumer hardships. ---------------------------------------------------- Alice Alvey , Master CMB Vice President Partner Education and Training at Union Home Mortgage She handles development of their World Class Training program designed to support UHM partners and organizational effectiveness. Prior to UHM, Alice served as Senior Vice President at Indecomm leading the Indecomm-Mortgage U divis...
Jun 17, 2024•26 min
MBS Live Market Update reports a volatile bond market week influenced by Treasury auctions, Fed speakers, and economic data, with significant movements driven by revised GDP and PCE price index figures, culminating in stronger momentum and cautious optimism for bonds. ----------------------------------------------------- Matt began as an originator in 2002. He fell in love with the idea of following MBS in real-time but felt that existing products were only scratching the surface. Thus was born ...
Jun 17, 2024•4 min
06-03-2024 "Suite: Judy Blue Eyes" Hesitation, Higher Yields, or More Interest. Hard Choices. -------------------------- It's getting to the point, Jay is no fun anymore. He is sorry. Recent Treasury auctions show investor hesitation to buy. Do they expect higher yields? The low appetite, coupled with the higher-for-longer Fed policy, will cost the high-debt US federal government more interest. According to projections by the OECD, an intergovernmental organization with 38 member countries, US g...
Jun 17, 2024•1 min
The CFPB has released a request for information on mortgage transaction fees, prompting the Mortgage Bankers Association to respond and address rising costs and regulatory impacts on borrowers and the mortgage market. ------------------------------------------------------------- Adam DeSanctis , Director of Public Affairs at Mortgage Bankers Association As a strategic public affairs and communications executive with nearly two decades of experience, Adam has deep expertise in strategy, managemen...
Jun 17, 2024•2 min
05-27-2024 The Fed Leaves US "Right Where You Left Me"----------------Links break up, links get married. Cycles get born, cycles get buried. Trends change, rumors fly through new lies, (with-TS only) Screens Right Where You Left them. The Fed minutes underscored its “higher for longer” outlook, resulting in a flattening yield curve and a sharp fall in Gold prices. Will fireworks arrive before July 4th? Over the next three months, expect big bangs and surprises from new data and European election...
Jun 17, 2024•1 min
Adam DeSantis reports on the VA's upcoming circular addressing the buyer commission prohibition and ongoing efforts to clarify guidelines amid evolving real estate agent compensation arrangements. ------------------------------------------------------------- Adam DeSanctis , Director of Public Affairs at Mortgage Bankers Association As a strategic public affairs and communications executive with nearly two decades of experience, Adam has deep expertise in strategy, management, and media relation...
Jun 17, 2024•1 min
In the ever-evolving landscape of the mortgage industry, understanding employment trends and leveraging data for strategic decision-making has never been more critical. In this episode, David delved into this subject with Dale Larson III, co-founder of Modex. Their discussion offered valuable insights into the current state of mortgage employment, highlighting the significance of data-driven recruitment and retention strategies. Companies that harness the power of data will be better equipped to...
Jun 12, 2024•25 min
The Lykken on Lending program will feature our Weekly Mortgage Updates with Adam DeSanctis and his MBA Mortgage Minute , and then Les Parker’s TMSpotlight , a macroeconomic perspective on the economy with a music parody. That leads to Matt Graham of MBS Live providing you a rate & market update , followed by David Kittle , Chief Executive Officer @ Cypress Mortgage Capital, to discuss mortgage originations. Then we have Alice Alvey of Union Home providing a regulatory & legislative updat...
Jun 10, 2024•49 min
David and Allen discuss the critical need for technology to reduce mortgage origination costs, highlighting the impact of automation, AI, and recent industry innovations. ------------------------------------------------------- Alice Alvey , Master CMB Vice President Partner Education and Training at Union Home Mortgage She handles development of their World Class Training program designed to support UHM partners and organizational effectiveness. Prior to UHM, Alice served as Senior Vice Presiden...
Jun 09, 2024•13 min
Alice discusses Ginnie Mae's new allowance for commingling e-mortgages with traditional loans in pools starting June 1st and highlights concerns over regulatory costs impacting mortgage origination, with technology increasingly driving industry decisions. ---------------------------------------------------- Alice Alvey , Master CMB Vice President Partner Education and Training at Union Home Mortgage She handles development of their World Class Training program designed to support UHM partners an...
Jun 09, 2024•4 min
Last week's market movements were driven by the Consumer Price Index (CPI) report, which showed a slight but insufficient downtrend in core inflation, resulting in a moderate bond market reaction and setting the stage for future data-driven market shifts. ----------------------------------------------------- Matt began as an originator in 2002. He fell in love with the idea of following MBS in real-time but felt that existing products were only scratching the surface. Thus was born MBS Live in 2...
Jun 09, 2024•6 min
05-20-2024 Countries In Recession Won't Be "Lonely Boy" ------------------------- Any old report keeps us waiting. Waiting, waiting. Powell’s a Lonely Boy, He’s a Lonely Boy. Oh, Powell, you are the love that keeps us waiting. The latest tame inflation dropped rates. Many expected a strong report that would have pushed rates significantly higher. Avoid emphasizing one report; instead, pay attention to coalescing trends. Megatrends suggest the next recession will affect more countries than usual....
Jun 09, 2024•1 min
The Financial Stability Oversight Council's recent report on non-bank mortgage servicing includes recommendations to Congress and state regulators aimed at addressing key vulnerabilities, with the Mortgage Bankers Association expressing concerns over increased costs and regulatory complexity. ------------------------------------------------------------- Adam DeSanctis , Director of Public Affairs at Mortgage Bankers Association As a strategic public affairs and communications executive with near...
Jun 09, 2024•2 min
Allen's report explores innovative marketing strategies and technological integrations in the mortgage industry, highlighting the impact of AI, social media, and PropTech. ------------------------------------------------------- Allen Pollack , Tech Consultant Allen Pollack, a Mortgage & Financial Services Technology Advisor, is a subject matter expert in the mortgage origination process along with software product management and software development. In today’s financial services push to all...
Jun 09, 2024•11 min
Matt Graham provides an update on recent market activity, focusing on the impact of weaker-than-expected job reports and heightened inflation expectations, and looks ahead to key economic data releases, including the upcoming CPI and PPI reports, which are anticipated to significantly influence bond yields. -------------------------------------------------------------- Matt began as an originator in 2002. He fell in love with the idea of following MBS in real-time but felt that existing products...
Jun 09, 2024•5 min
05-13-2024 "High Hopes" Or Decay For the Long Haul ----------------------- At a higher altitude, QT unfurled. Bulls reached the High Hopes of that dreamed-of world. Steps taken forward, Bears sleepwalking back again. Dragged by the force of Fed Powell’s higher-for-longer tide. The perpetual auctions continue to find investors liking high real rates while ignoring conflicting noise. As a result, mechanical trading persists, lowering volatility. Yet, the bears keep control down the well-traveled r...
Jun 09, 2024•1 min
The Mortgage Bankers Association (MBA) has expressed concerns to the Veterans Affairs (VA) regarding the implementation timeline of the Veterans Affairs Servicing Purchase Program (VASP), highlighting the need for clearer guidance and an extended compliance deadline beyond October 1st. The MBA recommends setting clear expectations with veterans and providing servicers with six additional months to implement the program once complete guidance is available.
Jun 09, 2024•2 min
Allen Pollack , Tech Consultant Allen Pollack, a Mortgage & Financial Services Technology Advisor, is a subject matter expert in the mortgage origination process along with software product management and software development. In today’s financial services push to all things Digital, Allen has been helping lenders and financial services solution providers align their digital transformation and technology strategies by removing the human element of risk, and automating processes that drive ef...
Jun 09, 2024•8 min
Alice Alvey , Master CMB Vice President Partner Education and Training at Union Home Mortgage She handles development of their World Class Training program designed to support UHM partners and organizational effectiveness. Prior to UHM, Alice served as Senior Vice President at Indecomm leading the Indecomm-Mortgage U division, Internal QA and Compliance and SaaS technologies. Indecomm acquired Mortgage U in 2013, where Alice was President/Co-founder, providing training and consulting since 1996....
Jun 09, 2024•6 min
The financial industry is rapidly evolving with the increasing adoption of cloud computing and artificial intelligence (AI), fundamentally transforming operations and customer interactions. Cloud computing offers flexibility, efficiency, and cost savings, while AI democratizes data access, making technology more intuitive and improving decision-making. Smaller banks, with their agility, can swiftly implement these innovations, gaining a competitive edge over larger institutions. Mike Stawchansky...
Jun 06, 2024•30 min
Show notes: TMSpotlight: 06-03-2024 "Suite: Judy Blue Eyes" Hesitation, Higher Yields, or More Interest. Hard Choices. -------------------------- It's getting to the point, Jay is no fun anymore. He is sorry. Recent Treasury auctions show investor hesitation to buy. Do they expect higher yields? The low appetite, coupled with the higher-for-longer Fed policy, will cost the high-debt US federal government more interest. According to projections by the OECD, an intergovernmental organization with ...
Jun 04, 2024•51 min
In the latest episode of "Lykken on Lending," host David Lykken sits down with Adi Pavlovich, Co-Founder and CEO of Newzip, to discuss his groundbreaking "Broker as a Service" platform. Adi, with his rich background in tech and real estate innovation from his tenure at Keller Williams, shares how Newzip empowers mortgage lenders to offer integrated real estate agent services. This episode delves into how Newzip enhances lenders' value propositions, increases lead pull-through, and offers signifi...
May 29, 2024•25 min
Show notes: TMSpotlight: 05-27-2024 The Fed Leaves US "Right Where You Left Me" ---------------- Links break up, links get married. Cycles get born, cycles get buried. Trends change, rumors fly through new lies, (with-TS only) Screens Right Where You Left them. The Fed minutes underscored its “higher for longer” outlook, resulting in a flattening yield curve and a sharp fall in Gold prices. Will fireworks arrive before July 4th? Over the next three months, expect big bangs and surprises from new...
May 28, 2024•45 min
The Fed acknowledged higher inflation and began quantitative tightening (QT), a slower pace of balance sheet reduction. The decision was well-telegraphed and had little negative impact on the bond market. Speaker 1 notes that the Fed's move was expected and did not cause any major surprises. -------------------------------------------------------------- Matt began as an originator in 2002. He fell in love with the idea of following MBS in real-time but felt that existing products were only scrat...
May 27, 2024•6 min
05-06-2024 Bad Data is "Criminal" --------------------- The data hustle, they’re no good at all. Moves like a loser, they are mixed, up, down, done. Dripping Oil, softening Gold, and cooling Copper lifted the short-end’s hope that the Fed will ease this year. Friday’s Jobs report helped. Additionally, the Fed’s significant slowing of QT in June lowers liquidity risks and confirms that it understands the problems with restrictive policy, high-priced consumer debt, and elevated real rates. With th...
May 27, 2024•1 min
Hi, I'm Adam DeSanctis, this is the Mortgage Minute, the latest news from the Mortgage Bankers Association. Last week, Freddie Mac announced that it updated requirements for using attorney opinion, title letters or AOL is expanding the types of mortgages that are eligible for delivery with an attorney opinion of title letter. expansion includes most mortgages secured by our property located in all US jurisdictions, which removes one of the largest impediments to the broader adoption of AOLs on t...
May 27, 2024•1 min
