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Here"s What Changed in The New Fed Announcement

7/29/2026 1:00 PM

The Federal Open Market Committee approved the following statement for release by a 12 9 – 0 3 vote: The Committee decided to maintain the target range for the federal funds rate at 3-1/2 to 3-3/4 percent, in support of the Federal Reserve’s dual mandate. The Committee reaffirmed is continuing its policy of maintaining ample reserves in...Read More

Hedging, Credit, Anti-Fraud Tools; STRATMOR on Borrower Satisfaction; Fannie"s $4 Billion Earnings Quarter

7/29/2026 10:23 AM

“Technology is dominated by two types of people: Those who understand what they do not manage, and those who manage what they do not understand.” Even if you’re a 90-year-old LO using a rotary phone, the rest of your company, and your borrowers, use technology and new products and need to stay up on them. FICO Score 10T, adoption, for example, has ...Read More

"Pause" Ends in Iran, But Probably Not For The Fed

7/29/2026 8:49 AM

The big news over the weekend was that the U.S. and Iran paused hostilities--something that led to 2 solid days of gains in the bond market. But in the overnight session, the pause ended as multiple attacks were reported on both sides. Oil rose predictably and bond yields did the same. One "pause" that"s less likely to change is the Fed"s abstentio...Read More

Giving Peace (And Bonds?) a Chance

7/28/2026 3:04 PM

Giving Peace (And Bonds?) a Chance Granted, it may be far less promising than some of the more conclusive headlines that led up to previous ceasefires and peace memos, but Tuesday delivered at least a modicum of hope that war sentiment is shifting. In not so many words, an Israeli media outlet reported that...Read More

Verification, HELOC, Non-QM Broker Products; RESPA Thoughts; Redwood Trust 2x Production

7/28/2026 10:32 AM

Does innovation in lending always means building something new? MISMO’s President Brian Vieaux challenges that familiar assumption, instead, he argues that some of the industry"s greatest opportunities lie in eliminating outdated processes that add friction without adding value. Read why the future of mortgage may depend as much on what the industr...Read More

Another Slightly Stronger Start

7/28/2026 8:28 AM

Once again, bond yields dropped in the overnight session in concert with lower oil prices. Today"s iteration is less swift than yesterday"s, but after last week"s sell-off, we"ll take any green we can get. Econ data is light and inconsequential. The 7yr Treasury auction is typically not a source of drama. That leaves focus on any notable war headli...Read More

Compared to Oil, Yields Not Quite as Willing to Drop

7/27/2026 3:15 PM

Compared to Oil, Yields Not Quite as Willing to Drop While the moment-to-moment correlation between bond yields and oil prices remained almost perfectly intact today, yields were less willing to follow the bigger drops. In other words, if we benchmark bonds to oil price movement, they underperformed the dro...Read More

Mortgage Rates Roughly Unchanged Versus Friday"s Lows

7/27/2026 1:44 PM

After bottoming out around 6.5% in late June, mortgage rates moved steadily higher this month, ultimately hitting 6.85% last Thursday--the highest level in over a year. There was a modest recovery on Friday with a fair amount of intraday changes from the average mortgage lender.  Because rates are based on bonds, it"s worth noting that bonds ...Read More

DSCR, HELOC, Market Analysis, Pricing Rule Tools; FHA, HUD, Ginnie Changes

7/27/2026 10:45 AM

In 2025, the IMF reported that, across the globe, companies, households, and countries had amassed $251 trillion in debt. Looking toward the end of 2026, J.P. Morgan has warned that interest rates on such borrowings are set to spike, owing largely to dwindling populations and diminishing fiscal discipline. JPMorgan’s Joyce Chang and team unpacked t...Read More

Less Bombing. More Rallying

7/27/2026 7:51 AM

It"s a pretty simple morning for the bond market (and many other markets). While there"s no formal ceasefire, both the U.S. and Iran have indicated a pause in the tit for tat airstrikes that have characterized most of July. Oil dropped sharply on the news though it"s not clear exactly how much because markets were fully closed at the time. Still, i...Read More

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