Most passwords that are suggested to me by a computer look like a cat walked over the keyboard. Technology is a two-edged sword. Have you ever heard of “surveillance pricing?” “Big brother” knows a lot about you. Ridesharing companies like Uber, for instance, can charge users more when they have lower battery life on their phone. “Democrats in Pennsylvania have introduced a bill that would stop retailers from changing the price of essential goods and services in a given 2

The mortgage industry has long been defined by a divide between retail and wholesale channels, but that line is blurring. At NEXA, our strategy from the beginning has been rooted in access: access to products, access to flexibility, and access to speed. Traditional retail lending comes with overlays and internal inconsistencies. One underwriter may approve a loan that another denies. That frustration led us to focus on wholesale, where we could operate more efficiently, reduc

Artificial intelligence has captured much of the mortgage industry's attention, but the deeper transformation underway is about data. As lenders rethink marketing, servicing, retention, and long-term borrower relationships, responsible consumer data management has become central to both strategy and risk. Every modern initiative, from AI-powered customer engagement to automated servicing workflows, depends on the quality, accessibility, and legality of the underlying data. Th

For years, the mortgage industry has framed “friction” as a technology problem. If the application is faster, if the disclosures are digital, if the underwriting is automated, then the experience must be improving. But friction in mortgage lending is rarely about how quickly someone can e-sign a document. It is about uncertainty. It appears when borrowers do not know what happens next, when a pre-approval arrives without a clear understanding of true cash to close, and when m

Quality control (QC) has never been the most glamorous part of the mortgage business, but it has always been one of the most important. In a market defined by tightening margins, regulatory scrutiny, and heightened operational risk, QC is no longer just a back-office requirement. It is increasingly becoming a strategic function that protects profitability, safeguards reputations, and ultimately ensures that lenders are producing high-quality loans. At its core, quality contro

“I saw a man at Walmart with March Madness teeth... He was down to the final four.” Speaking of “4”, TransUnion turned some heads by announcing 99-cent mortgage pricing for VantageScore® 4.0 . While we’re talking about money, President Donald Trump called surging oil costs, which are now at their highest level since 2022 when Russia invaded Ukraine, a “very small price to pay” if the goals of the war are met. Politicians, regarding of party, are never good at cutting costs, a

The U.S. economy right now feels a bit like a bar stool that has lost a few of its legs. As long as the remaining ones hold, everything looks stable enough. But the fewer supports you have, the more vulnerable the whole thing becomes. That is increasingly how the current economic expansion looks. The headlines still show growth, unemployment is relatively low, and consumer spending has not collapsed. Yet beneath those numbers, the economy appears to be relying on a surprising

Mortgage professionals tend to watch the same handful of indicators when thinking about rate movement. The 10-year Treasury. Mortgage-backed securities. Inflation data. Fed commentary. But another signal may be quietly emerging in the background: prediction markets. Platforms like Kalshi and Polymarket allow participants to trade contracts tied to real-world outcomes. Instead of buying a stock or bond, traders buy contracts tied to questions like: Will the Federal Reserve rai

For most of Pennymac’s journey, we’ve been organic builders. In an industry where scale is often purchased rather than constructed, we have chosen to grow deliberately by building our platform, our team, and our technology from the ground up. That purposeful foundation is what has allowed us to thrive through every market cycle. Our founding philosophy was straightforward. When you buy a company, you inherit its legacy systems, embedded costs, and cultural assumptions. But wh

One of the conversation topics late last week in Deer Valley is the weather and climate, and more specifically that Salt Lake City had received virtually no snow this winter, which means that places like Atlanta and Charlotte have received more snow than a city at 4,300 feet elevation. Syracuse, New York has received nearly 5 feet of snow so far this year. Ever heard of Commonspace in Syracuse? As another affordable alternative, it’s a “cohousing” community in a restored 19

Talk about inflation… what’s a tooth going for these days? (No, I’m not so old that I received a beaver pelt when I lost a front tooth as a kid.) New findings from the Delta Dental 2026 Original Tooth Fairy Poll® revealed the average value of a single lost tooth during the past year increased by 17 percent from $5.01 to $5.84. This marks the first year-over-year increase in Tooth Fairy giving since 2023, ending a two-year decline . The price of oil is crazy, benefitting Rus

They’re finally receiving some snow here in Deer Valley, Utah. Officially winter ends on 3/19, as the Spring Equinox is 3/20. Most modern clocks these days auto-update when daylight savings begins/ends. So, Sunday morning I’ll be walking around my house thinking, “Wow... times have changed.” This Sunday many places will be changing their clocks and springing ahead. This will, once again, lead to the public asking politicians to do away with changing clocks, with stories of ba

Mortgage servicing has evolved over the last few years. What used to feel like a purely operational, almost defensive function has taken on a new identity. When origination volumes fell, MSRs were suddenly more than a predictable stream of cash flow; they became one of the few reliable paths to revenue and growth. That shift has fueled investment in predictive analytics, intent data, and AI tools designed to spot borrowers who might refinance, move, or tap equity. These tools

“What is Forrest Gump’s password? 1forrest1.” Cybersecurity is no laughing matter (nor perhaps was that opener), and here in Park City, at the annual mortgage ski trip , some of the banter is social, and some is focused on business. On the business side of things, one topic is the nearly 1 million people impacted by hackers attacking Figure Technology Solutions , a blockchain-focused fintech lender. U.S. financial institutions are increasing cybersecurity vigilance amid the e

Years ago, I commented that, “March 4 th is the only day that is a command.” It didn’t take long for someone to rejoin, “Every day in March can be a command.” It isn’t a topic that is mentioned often, versus… credit. Credit is certainly a topic as of late, both its process and its cost, but I received this note from an industry vet in the South. “Rob, I’m tired of lenders having ‘a come apart’ over FICO’s costs. No one talks about the fact that FICO held its prices steady fo

At the L1 Summit, technology is obviously a key segment of many sessions. Tech is helping larger companies in their moves in controlling the borrower funnel. Artificial intelligence (AI) with its pros and cons but hoped-for benefits to productivity and therefore cost reduction, is a common conversation topic. Third party provider offerings are also theme. especially when it comes to technology and marketing. “Rob, I know that you have job ads in your Commentary, but we’re loo

In what seems to be the blink of an eye we’re down two months of 2026, and by most accounts they were decent for lenders and vendors. Here in Ft. Lauderdale at the Lenders One Summit, the talk in the hallways, like that at several recent conferences, is centered around a handful of topics, M&A being one of them, and the desire for companies to control the “funnel.” STRATMOR’s Garth Graham , who resides nearby, last night told me that STRATMOR has a full complement of buyers a

Chairman Powell and the Fed, tame inflation! But can you? Since the pandemic began, grocery prices have gone up about 30 percent. You can blame a slew of factors, including supply chain disruptions and tariffs. Egg prices spiked last year due to bird flu but fortunately have come down. 90 percent of U.S. bananas come from out of the country, and prices are up 7 percent over the last year due to tariffs. Coffee prices are up nearly 20 percent due to droughts in Brazil and V

We do not have the right to criticize this industry if we are unwilling to invest in improving it. Not in private conversations. Not in conference hallways. Not in boardrooms. If we benefit from the infrastructure of mortgage banking, from its standards, its frameworks, its collective trust, then we carry a responsibility to help sustain it. I earned my Certified Mortgage Banker (CMB) designation in 2005. The CMB is not simply a credential. It is a professional standard recog

Can’t you feel the anticipation building? March 5 th … Trigger leads… Don’t tell me that you’ve forgotten all about it. When a borrower applies for a mortgage and their credit is pulled, that data has historically been sold as a “trigger lead” and dozens of calls are received. Starting March 5, according to the law, credit bureaus can no longer sell trigger leads, the borrower’s lender can still contact them, and the current servicer may also reach out. Originators are remind