My previous piece  argued that credit underwriting in mortgage is restructuring around cashflow-native frameworks that treat repayment capacity as a distribution rather than a score. The GSEs have moved, and the capital markets are following. The logic is compelling and the direction is clear. A model is only as good as its inputs: input the wrong income or verify a job that is gone, and the shape of risk changes. The system that promised certainty now hides uncertainty. We cannot call...

Mortgage lenders, ready for further adventures in the valley (of death), are at a crossroads.  Despite massive tech spends, they continue...

While none of us possess a crystal ball, signs point to major transformation driven by a combination of higher-for-longer interest rates,...