Change is constant. Soon I head to Austin, in the Great State of Texas, for the TMBA’s star-studded Housing Summit where “change” will certainly be studied. JPMorgan is embracing block chain. Tired of your cleaning supplies smelling like lemon? How about pumpkin, or birthday cake ? “Rob, are you hearing from other brokers or LOs that their borrowers are demanding lower rates on their ‘lock’ since the Fed changed?” I am, and it is a great opportunity to be a knowledgeable hu

Are you ready to change the time on your car’s clock, or leave it and let it be right again on March 8, 2026? Some technology is cool. Imagine controlling your iPhone entirely with your eyes . (That would really keep me from riding my bike and talking on the phone!) Food delivery robots have human names and blinking eyes. But they’re not our friends any more than the Russians are our allies. Every lender and title company knows that cybercriminals don’t take breaks, and nei

"The U.S. Senate is considering a bill that would tax Botox. When Botox users heard this, they were horrified. Well, I think they were horrified. It's difficult to tell." Is anyone motivated to end the government shutdown? I mean, really motivated? One side sticking to their guns about healthcare, the other side is fine with slowing down the economy to move rates lower. And now we have the expiration of SNAP benefits . The impact on the overall economy seems to be minimal, al

My cat Myrtle never liked Halloween, apparently believing it was for amateurs. Our nation has plenty of interesting historical sites related to ghosts and unpleasant things... like Salem, Massachusetts. It lives with the history of the Witch Trials of 1692 during which 19 women and men were executed on charges of witchcraft. Today, the most frightening thing about the place  is the traffic in October, but also somewhat frightening is the price of real estate: if you want a de

I was recently on a hike with a gal pal, and we were talking about her future. I asked, “You don’t have any kids. Who is going to take care of you when you get older?” She replied, “The sommelier.” The future should be on everyone’s minds. I met up with a friend last week at the MBA Annual, and, knowing that his son had worked summer jobs for a lender in our business, I asked him about his son entering the residential lending. He replied, “He was all set to become a loan offi

There are some creative thinking and collaborations out there; anyone who walked around the exhibition hall this week at the MBA Annual saw that. For another example, a startup working on industrial heat batteries has linked up with an oil company (an unlikely partner) in its quest to commercialize its carbon-free alternative battery. Holmes Wester Oil Corp uses gas-fired boilers in its oil recovery system but has replaced one of them with Rondo Energy’s battery. It is a 100-

As shown in this video clip , don’t ever underestimate your opponent, or competitor. There were plenty of opponents and competitors (most friendly) at this week’s MBA Annual, and today on Last Word at 1PM ET, Brian Vieaux, Kevin Peranio, and Courtney Thompson discuss highlights from the conference, how the ongoing government shutdown could affect borrowers’ ability to pay and broader market stability, and what “shutdown economics” means for lenders, policymakers, and the hou

Economies and strategies impact various groups differently. Remember Mervyn’s, Montgomery Ward, or a dozen other large department stores that are no longer? Saks Fifth Avenue is now rumored to be potentially joining them. Residential lending is obviously impacted by the slowing economy: if you want lower rates, a government shutdown is one way to negatively impact the U.S. GDP. Interest rates were a topic at the MBA Annual, and thousands of lenders and vendors have headed ho

“Why did the Tibetan Monks go to Las Vegas? They are very good at games of chants.” One topic among hallway chats with lenders here at the MBA Annual is keeping costs down. After all, everyone is selling, or putting their loans into portfolios, at roughly the same price, so whether a lender is doing $10 million a month or $1 billion a month, cost and efficiency are paramount. The current STRATMOR write up is titled, “Rates Drop, Pipelines Pop: Don’t Let Fulfillment Flop.” On

What do Costco and Las Vegas have in common? You go to buy a gallon of milk, and it costs you $285.” There isn’t a lot of autumn foliage here in Las Vegas, but if you’d like a map of the fall colors, here you go . I’ve received a few comments about how the industry is changing, and in curious ways. There is some creative thinking out there. Along those lines, I received this note. “Rob, have you heard of a title company franchise where LOs and brokers keep title fees, and “ow

“Why did the Dalai Lama go to Las Vegas? Because he loves Tibet.” Here at the “MBA Annual,” the puns may not be flying, but there is news bouncing off the walls, some of it learned just by chatting in the hallways. (And there is plenty of time spent walking through the convention center… I need a Segway!) The Mortgage Bankers Association (MBA) announced that total single-family mortgage origination volume is expected to increase to $2.2 trillion in 2026 from $2.0 trillion ex

Dang, just when I was packing yesterday to head to Las Vegas for the MBA’s conference, and finish, after several months of transfers, of converting my “worthless” dollars into “valuable” bitcoin for my entire retirement account, I noticed the news that the United States has charged the chairman of Prince Group, a Cambodian conglomerate, with operating a massive cyber fraud operation . The Feds seized 127,271 bitcoins worth around $15 billion in the process. Federal prosecuto

Under the category of careers that are, or will be, impacted, by artificial intelligence, attorneys are inevitably on it. Here’s a tale of a lawyer caught using AI while explaining to the Court why he used AI . In other legal mortgage news, California mandated forbearances for mortgage borrowers affected by wildfires. Meanwhile, is disaster assistance based on politics? Apparently California is not receiving any disaster assistance from the federal government from the fires

“I was gambling in Las Vegas; I took a little risk. Send lawyers, guns, and money , Dad, get me out of this!” Hopefully, no one heading to LV tomorrow or this weekend runs into that kind of trouble. Did you know… The difference between an American roulette wheel and a European wheel? The American version has “00.” Fans of Lucifer, and numerology, know that, for both, the numbers add up to 666! Homeowners in Las Vegas are not typically big gamblers, unless you consider their

While the debate rages on about whether the three colors of candy corn taste different, at the other end of the tech spectrum, lenders are weeding out unused or out-of-date technology, reviewing new tools, all the while looking at bad developments in the IT world. (Speaking of tools, Ben Teerlink, Founder/CEO, MMI, will be interviewed today at 11AM PT on the L1 show.) AI companies are paying people to fold laundry in front of robots so they can learn to do household chores

“Where do amputees get prosthetics on a budget? The secondhand store.” Budget, stalemate, and shutdown news continues in Washington DC. The sun still comes up in the morning, and there is news on related issues. For example, thank you to Sean S. who told me that HUD opened the suggestions window for improving the HECM (reverse mortgage) product. The reasons why Treasury and mortgage rates remain elevated despite the shutdown and Fed’s rate cuts will be discussed in the Capit

“Rob, do you think that people spend more time at conferences talking about what they do rather than actually doing it at work ?” Perhaps. It's hard for me to answer a question from someone who really doesn't care about the answer, and besides, for many people going to many conferences is part of their job, right? There are a handful of important events to attend every year, and several state and local events that have merit. Roughly 3,000 are bound for Las Vegas this weeken

The stalemate & shutdown continue, all but eliminating the government release of economic news. Recall that the U.S. Treasury posted a $345 billion budget deficit in August, the largest monthly deficit of 2025 and the 2nd-worst August on record but helped by tariff revenue. This is up from July’s $291 billion deficit and has only been surpassed by last year’s $380 billion deficit. Government spending surged to $689 billion for the month. Through the first 11 months of FY2025

“Two lawyers walk into a pub. They order a couple of drinks and take subs out of their brief cases. They begin to eat. Seeing this, the...

We’re sailing through autumn. Places like Seattle and Minneapolis are losing 3-5 minutes of sunlight a day. Donald Trump told Congress to...