While “Sell America” goes on, or at least the perception of it, outside our borders, leading to bond prices going down and rates going up, in this country we are learning the difference between a pardon, a commutation, and clemency. I continue to hear how fraud, especially occupancy fraud, in residential lending is on the upswing. President Donald Trump commuted the five-year prison sentence (freed, but conviction stands) of a New York real estate manager convicted of fraudul

For consumers paying attention to housing news lately, it probably feels like the industry and policymakers are throwing everything they have at the affordability problem. 50-year amortization mortgages. Penalty-free access to 401(k) funds for down payments. Prepayment penalties reintroduced as a way to lower interest rates. And now, proposals from the White House to ban large investors from purchasing homes. Each of these ideas has made headlines over the last several months

Last week, Donald Trump floated a proposal that immediately grabbed headlines: a one-year federal cap on credit card interest rates at 10%. Markets reacted quickly. Bank stocks sold off. Trade groups pushed back. And the debate over consumer affordability versus credit availability reignited almost overnight.(Source: CNBC – https://www.cnbc.com/2026/01/10/trump-calls-for-one-year-cap-on-credit-card-interest-rates-at-10percent.html ) At first glance, this looks like a story sq

As we prepare to enter a new year, and a new era defined by artificial intelligence, interoperability, and accelerating change, it’s a privilege to welcome the 2026 MISMO Board of Directors . This Board reflects the depth, diversity, and leadership required at a pivotal moment for our industry. MISMO exists by the industry and for the industry . Its work quietly supports every loan, every day, across origination, servicing, capital markets, and the technology ecosystem that b

How many people live in the United States, and the world? Here you go , as accurately as you’re going to see anywhere. Loan originators are acutely aware of demographics (“know your borrower,” right?). Naming generations is relatively recent, and then-People Magazine Editor Landon Y. Jones coined the term Baby Boomer. (He died last year.) The oldest Baby Boomers turn 80 in 2026. By the end of this decade, all baby boomers will be 65 and older , and the number of people 80 and

Will rates impact the latest MBA origination forecast of $2.2 trillion next year? Sure, although… The Federal Reserve has cut overnight rates, but longer-term rates (like 15- and 30-year mortgages) have done little or have gone up. Recently news came out that Freddie and Fannie are buying securities that they produce. If GM is buying its own cars, should its stock price go up, or does the price of its cars go up? Do GSE MBS purchases really move rates? The recent news that t

If you spent 2025 waiting for the market to “come roaring back,” you probably left disappointed. This was not 2020 or 2021. It also was not 2022’s hangover. But it was not the free-fall mood of 2023, either. 2025 was the year the industry proved it can operate in a normal-rate environment, even if “normal” now means a 30-year fixed that starts with a 6. As of last week, Freddie Mac had the average 30-year fixed at 6.21% . ( AP News ) The market did not need a miracle to impro

Then UAD 3.6 Should Already Be on Your Agenda. Do you want more appraisal waivers? Do you want appraisals completed faster, with better accuracy and quality? Do you want less liability and risk tied to appraisal data flowing through your organization? It’s hard to imagine anyone in mortgage answering “no” to any of those questions. And yet, many lenders are still treating the Uniform Appraisal Dataset (UAD) 3.6 as something to deal with later. A future compliance task. A dist

In HousingWire, Flávia Furlan Nunes described what originators have been feeling in their P&Ls: the math on credit reporting is breaking. Credit report prices have been rising sharply, and resellers are signaling as much as another 50 percent increase in 2026, which would mark the fourth straight year of higher costs. That spike lands on top of an already expensive production base. Freddie Mac’s latest Cost to Originate study, reported by National Mortgage Professional, shows

Both Dick Van Dyke and Mel Brooks turn 100, Dick in less than two weeks and Mel next summer. 100 years is a long time, and it’s a big number. Despite faster economic growth than peers, the U.S. faces rising deficits and debt levels above 100 percent of GDP . If this impacts our debt ratings further, look out. Political gridlock and reluctance to enact meaningful tax increases or spending cuts echo challenges seen in the UK and France, where governments struggle to satisfy vot

Every industry has its invisible infrastructure, the stuff that quietly works in the background but keeps everything running. In retail, it’s the barcode. In utilities, it’s the grid. In financial services, it’s the payment rails. In mortgage?That quiet, essential infrastructure is MISMO . And at the heart of MISMO’s infrastructure there are two concepts that sound similar but operate very differently: The MISMO Model MISMO Standards In conversations with lenders, investors,

According to NAR’s 2025 Profile of Home Buyers and Sellers , first-time buyers now have a median age of 40 , and their share has fallen to 21% , a record low. That is a historic shift that changes how we coach renters and near-ready clients. Quick history for context. In the 1980s , the typical first-time buyer was in their late 20s . From the early 1990s through the late 2010s , the median age sat in the 30 to 32  range. Even in 2020  it was 33 . Then, in only a few years,

As I type these words, I am sitting in front of one of Chuck Berry’s early residences in St. Louis. STL has a good musical reputation, a fine mortgage association , a Fed that puts out great research, and has many nice neighborhoods. But to call this specific area where I am sitting a “transitional” neighborhood would be generous. Although there is potential, nearly every house standing could use an immense amount of work, and the residents probably aren’t regulars at home i

When I stepped into the role of MISMO President just ahead of the 2025 MBA Annual Convention, I already understood MISMO’s reputation. But it wasn’t until I got behind the curtain that I truly appreciated the depth of collaboration, volunteer leadership, and shared purpose that has kept this organization going strong for more than 25 years. And if there’s a single theme that stands out from my early weeks in the role, it’s this: MISMO’s impact is everywhere, especially in the

As the central states brace for a cold snap, I received a note from a mortgage broker in Florida. “Rob, don’t politicians understand that housing ‘affordability’ problems aren’t only the result of rates and prices that are set by the markets? Owners are hit by taxes and insurance increases. What about condo fees and special assessments? What about city and county fees? Loan level price adjustments are determined by historical performance. Extending the maturity of a mortgage

“Being a parent is like being a psychic who is always right but is always ignored.” Here in Austin, TX, whether it was the Texas Women Mortgage Bankers’ Fall Social with Faith Schwartz and Alanna McCargo last night or the TMBA’s Housing Summit speakers today, no one is ignoring anything. No lender can ignore the shutdown, and anyone who believes that residential lending and politics, at all levels, don’t overlap is mistaken: look at what is going on with FHA, VA, GNMA, IRS

Building regulatory readiness isn’t something you simply hope for, it’s something you shape . That’s exactly what’s happening with the Mortgage Compliance Dataset (MCD) Tech Sprint , a joint initiative from the Conference of State Bank Supervisors ( CSBS ) and MISMO  that kicks off December 3rd. This is not just a demo or proof of concept. It’s a real-time collaboration between regulators, lenders, and technology providers to define what compliance efficiency should look like

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

Spring gets most of the headlines in real estate, but fall often tells a different story. As the market cools, competition eases, listings sit a bit longer, and many sellers become more open to negotiation before year-end. For buyers who have been waiting for the right moment, this season quietly offers one of the best windows to act. This time of year gives buyers space to evaluate options rather than rush to outbid. That change of pace rewards preparation. It lets buyers co

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