MBA urges the FHA to align its cybersecurity incident reporting timeline with Ginnie Mae's 48-hour requirement, advocating for clear and consistent policies across federal agencies. ------------------------------------------------------------- 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 relations. He is widely...
Jul 13, 2024•1 min
In the latest episode of "Lykken on Lending," host David Lykken welcomes industry icon Bill Erbey, renowned for his pioneering work with Ocwen Financial and Altisource Portfolio Solutions. With a career spanning several decades, Erbey has been at the forefront of innovation in the mortgage industry, and now he's venturing into the world of cryptocurrency with his new project, ForumPay. This episode promises a deep dive into Erbey's remarkable journey, his cutting-edge solutions for non-performin...
Jul 12, 2024•26 min
In today's ever-evolving real estate market, savvy investors and mortgage professionals are turning their attention to a lesser-known yet highly lucrative opportunity: seller financing and private mortgage notes. As traditional lending options become more stringent and inaccessible for some buyers, seller financing offers a flexible and attractive alternative. This innovative approach allows sellers to carry the loan for buyers, often resulting in a steady income stream and significant returns f...
Jul 10, 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...
Jul 08, 2024•55 min
Allen Pollack discusses the impact of new technology updates from Apple, challenges of app development in the mortgage industry, and the potential of AI chatbots like Claire in real estate. ----------------------------------------------------- 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 serv...
Jul 07, 2024•3 min
The Supreme Court's overturning of the Chevron deference doctrine means federal courts will no longer defer to agency interpretations of ambiguous statutes, leading to potential legal challenges across various regulated industries and necessitating clearer legislative definitions. ---------------------------------------------------- Alice Alvey , Master CMB Vice President Partner Education and Training at Union Home Mortgage She handles development of their World Class Training program designed ...
Jul 07, 2024•4 min
David Kittle discusses the potential implications of the Supreme Court's Chevron decision on the mortgage industry, emphasizing the likelihood of increased litigation against regulators and the ongoing regulatory challenges faced by the industry, while also noting positive membership growth of TMC in the credit union space. ----------------------------------------- David G. Kittle, CMB is a highly respected leader in the mortgage industry, with over 45 years of experience. He is the Co-Founder a...
Jul 07, 2024•3 min
Last week's bond market saw increased volatility due to overseas events, economic data like the PCE price index, and political speculations, with significant movements attributed to month and quarter-end trading activities. ----------------------------------------------------- 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 platf...
Jul 07, 2024•7 min
An MBA-led coalition of major housing trade groups has urged key House and Senate appropriators to fully fund Ginnie Mae's $67 million fiscal year 2025 budget request to support its crucial role in guaranteeing securities and enhancing market liquidity. ------------------------------------------------------------- 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 d...
Jul 07, 2024•1 min
Freddie Mac has launched a pilot program for closed-end second mortgages with specific conditions, while the FHA has issued a draft mortgagee letter emphasizing lender responsibility for third-party origination fraud, urging lenders to strengthen their fraud detection and prevention measures. ---------------------------------------------------- Alice Alvey , Master CMB Vice President Partner Education and Training at Union Home Mortgage She handles development of their World Class Training progr...
Jul 07, 2024•5 min
Last week's bond market saw minimal movement influenced by retail sales, positional trading before the holiday, and a stronger-than-expected services sector report, with upcoming economic data and the PCE price index expected to have limited impact on volatility. ----------------------------------------------------- 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 L...
Jul 07, 2024•5 min
06-24-2024 Affordability Remains an Obstacle and Servicing values will Drop, it's a "Ball of Confusion" ----------- People selling out, people buying in because of the color of their screens. With the Fed listening to Bonds and data, look for 30-year mortgage rates to stay below 7.75 and reach 6% by yearend while the 10-yield falls below 3.50. Stop break dancing. It will be without significant increases in production because affordability remains a significant obstacle. Additionally, due to deli...
Jul 07, 2024•1 min
The FHFA has conditionally approved a pilot program allowing Freddie Mac to purchase certain closed-end second mortgages, with measures to ensure it benefits smaller lenders and does not disrupt the private label securitization 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 s...
Jul 07, 2024•1 min
Jaro, the flagship product of Ascent Software Group, represents a significant leap forward in the appraisal space. It is an end-to-end ecosystem that integrates all parties involved in the appraisal process, from loan officers to appraisers to underwriting teams. This holistic approach ensures a seamless flow of information and tasks, eliminating the fragmentation that has long plagued the industry. this episode offers a fascinating look at how Jaro is setting new standards in the appraisal indu...
Jul 03, 2024•24 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...
Jul 02, 2024•58 min
In this episode, we delve into Pavan's inspiring story, starting from his roots and the vision instilled in him by his father, the legendary mortgage lender Hari Agarwal. We'll explore the genesis of Angel AI, a revolutionary tool that's automating and streamlining the mortgage process like never before. As we discuss Pavan's relentless pursuit of innovation, the challenges and triumphs along the way, and his unwavering commitment to making a positive impact on the industry and beyond. We'll als...
Jul 01, 2024•43 min
Marc emphasizes the critical importance of aligning operations and quality control in mortgage lending, detailing a strategic meeting that addressed discrepancies and set new guidelines to prevent future conflicts and ensure regulatory compliance. ------------------------------------------------------------------ Marc Helm , CEO, and Author Marc Helm serves as a Principal Partner at Transformational Mortgage Solutions, bringing over 46 years of extensive experience in the financial services and ...
Jun 26, 2024•3 min
David and Marc, industry veterans, discuss the rapid changes in the real estate industry, emphasizing the need for cost efficiency and praising innovative practices that support homeownership in challenging economic times. ------------------------------------------------------------------ Marc Helm , CEO, and Author Marc Helm serves as a Principal Partner at Transformational Mortgage Solutions, bringing over 46 years of extensive experience in the financial services and mortgage banking industry...
Jun 26, 2024•3 min
In this insightful episode, David Lykken converses with Dan Smith from LendingPad about the shifting technological dynamics in the mortgage industry. As the Vice President of Sales and Strategy at LendingPad, Dan brings his extensive experience from ComplianceEase and discusses the evolution and challenges in mortgage tech. The episode explores how LendingPad is carving a niche in the market with innovative, customer-focused solutions and a robust tech stack that includes an automated compliance...
Jun 26, 2024•22 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 24, 2024•26 min
Allen Pollack discusses the impact of new technology updates from Apple, challenges of app development in the mortgage industry, and the potential of AI chatbots like Claire in real estate. ----------------------------------------------------- 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 serv...
Jun 23, 2024•6 min
Alice Alvey provides a legislative update on the importance of Juneteenth, VA loan compliance changes, and the CFPB's proposed rulemaking on medical collections in credit reporting. ---------------------------------------------------- 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 ...
Jun 23, 2024•8 min
David Kittle discusses the mortgage industry's advocacy efforts in Washington, DC, highlighting the political nature of agencies like Fannie and Freddie, the disconnect between regulatory conversations and outcomes, and the importance of direct engagement with regulators. ----------------------------------------- David G. Kittle, CMB is a highly respected leader in the mortgage industry, with over 45 years of experience. He is the Co-Founder and Chairman of The Mortgage Collaborative (TMC), a mo...
Jun 22, 2024•3 min
The latest MBS market update highlights the Fed's decision to hold rates steady with a potential for lower rates, influenced by positive CPI data, lower-than-expected PPI figures, and rising jobless claims, while upcoming economic indicators may further impact future rate movements. ----------------------------------------------------- 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....
Jun 22, 2024•6 min
06-17-2024 Bond "Barracuda" ------------------ Bears, this is the end; Bulls rise up again - to reign They had to take the trend away. Bond barracuda kept the Fed in line, resulting in a new bull market. Long-term, look for the 10-year yield to stay below 5% and mortgage rates below 7.75. Imagine a sub-6% 30-year mortgage rate by yearend and the 10-yield falling below 3.50. Global political and financial uncertainty continues to pressure the Fed to keep the system liquid. This outlook is: Inflat...
Jun 22, 2024•1 min
The Department of Veterans Affairs has issued a temporary policy, effective August 10, allowing veteran buyers to pay reasonable broker compensation fees in certain circumstances to stay competitive, following coordinated advocacy by the MBA and other industry groups. ------------------------------------------------------------- Adam DeSanctis , Director of Public Affairs at Mortgage Bankers Association As a strategic public affairs and communications executive with nearly two decades of experie...
Jun 22, 2024•1 min
Allen Pollack's report covers tech trends in the mortgage industry, including video call behaviors, AI training for new hires, drone usage by insurance companies, effective advertising strategies, and the rising importance of blockchain and digital currencies. ----------------------------------------------------- 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...
Jun 22, 2024•14 min
The CFPB has issued a final rule for a new non-bank registration system, requiring lenders to self-report public orders and court actions, with compliance starting in January 2025 and public access to the registry. ---------------------------------------------------- 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 ...
Jun 20, 2024•6 min
In this podcast episode, David Lykken, Richard Grieser, and Jodi Hall discuss the factors that distinguish successful from unsuccessful technology rollouts in the mortgage industry. They emphasize that successful rollouts are driven by strong leadership focused on solving specific problems, effective and accountable vendor partnerships, and continuous evaluation of technology to ensure it meets business needs. Jodi highlights the importance of understanding unique lender requirements and selecti...
Jun 19, 2024•30 min
David Kittle discusses recent advocacy efforts in Washington D.C., regulatory challenges, and the impact of new regulations on the mortgage industry. ----------------------------------------- David G. Kittle, CMB is a highly respected leader in the mortgage industry, with over 45 years of experience. He is the Co-Founder and Chairman of The Mortgage Collaborative (TMC), a mortgage lending cooperative providing members with access to resources and tools to improve their business operations. Kittl...
Jun 18, 2024•9 min
