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Webcasts, HELOC, AI Products; Product and Conv. Conforming News; Shared Equity Report

9/18/2026 9:59 AM

A big thrust by many lenders and originators is helping homeowners use the equity in their home or offering a shared equity product. And why not: there’s $36 trillion in home equity out there. And in an industry where we’ll be lucky to hit $2 trillion this year, it’s a juicy target. Jim Riccitelli, CEO of Unlock Technologies, sent me a recent study...Read More

Why Are Bonds Selling Today?

9/18/2026 8:33 AM

After Thursday"s rather triumphant trading session in the bond market, today"s moderate losses may be unpleasant or surprising to some. But they should be neither. Thursday was a bit exuberant in a good way, and Fridays often see position squaring. A bit of a pull-back is not only survivable but arguably more logical this morning, especially w...Read More

Even More Confirmation Throughout The Day

9/17/2026 5:39 PM

Even More Confirmation Throughout The Day It was heartening to see bonds erase yesterday"s losses by the time domestic trading got underway today. Unmitigated victory would have required flat/higher oil prices. Instead, we were forced to wonder how much credit to give lower oil prices versus the expectation...Read More

Mortgage Rates Back Near Lows of The Week

9/17/2026 1:50 PM

We love it when a plan comes together. Heading into yesterday"s Fed announcement, the hope was that a rate hike would reassure investors in longer-term bonds (like those that underlie mortgage rates). We also didn"t expect that benefit to necessarily play out on the day of the hike itself (it didn"t).  In fact, Fed day threw rates a bit of a ...Read More

Non-QM Underwriting, Settlement, QC, AI Processing Tools; Equity Products; Investor Updates

9/17/2026 10:22 AM

“My wife says I only have 2 faults. I don"t listen, and something else…” Communication matters. How many LOs wear a pin out in public that says, “Business is great!” so strangers will ask them what business they’re in? Probably not many, but maybe it is worth a try to start a conversation? (On today’s The Big Picture, Chris Whalen will be having a ...Read More

Stars Aligning, Oil Falling, Or Some of Both?

9/17/2026 9:00 AM

Heading into yesterday"s rate hike, recent evidence suggested the longer end of the bond market would appreciate a hike. There was no telling exactly how this would impact rates on Fed day itself--only that it was probably the lesser of two evils in the coming weeks. It was highly reassuring to see essentially no reaction to the rate hike in t...Read More

No, The Fed Didn"t Hike Mortgage Rates Today

9/16/2026 5:11 PM

Mortgage rates are definitely higher today--the highest since January 13th, 2025. Today"s Fed announcement had something to do with that. But while the Fed hiked the Fed Funds Rate, that had NOTHING to do with mortgage rates moving higher this afternoon. In fact, this is very easy see on a chart of bond market movement. We can use 10yr Treasuries ...Read More

Huge Volatility After Fed, But The Coming Days Will Tell The Story

9/16/2026 5:08 PM

Huge Volatility After Fed, But The Coming Days Will Tell The Story Bonds ended the day only modestly worse off than yesterday afternoon. That"s a pretty impressive accomplishment considering the Fed hiked rates and communicated at least one more rate hike in 2026. Nearly half the FOMC sees at least 2 more h...Read More

Here"s What Changed in The New Fed Announcement

9/16/2026 1:00 PM

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

Hedging, Jumbo, Processing Tools; FEMA and Disaster Updates; Richey May Sold

9/16/2026 10:49 AM

A while back I was watching the news on TV, and they were interviewing a couple whose home was threatened by a tornado, but who didn’t leave. “God will protect us,” they told the reporter as the wind picked up. Who did they think sent the tornado in the first place? Lenders and servicers know that “tornado alley” has shifted, and with it the geogra...Read More

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