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Verification Letter, AI Compliance, Retention, Decisioning Tools; Fix-and-Flip Trends

6/22/2026 10:49 AM

Pennymac has released the latest edition of its Pennymac Policy Pulse, a newsletter tracking key federal policy developments shaping the housing market and broader U.S. economy. When national or state-level organizations engage in advocacy, they don’t visit the NAR or home builders or large title companies. They visit state legislators, Congress, o...Read More

Bonds Starting Weaker Despite Lower Oil and EU Bond Recovery

6/22/2026 8:59 AM

European bond yields surged higher on Friday in response to political uncertainty in the U.K., among other things (ongoing global reaction to Fed day and U.S./Iran peace deal status, etc). Treasury yields were set to open higher in the overnight session as a result. All of the above is logical and fairly boring. What"s interesting is that Treasurie...Read More

Perfectly Acceptable Conclusion to a Potentially Volatile Week

6/18/2026 2:19 PM

Perfectly Acceptable Conclusion to a Potentially Volatile Week With markets closed for the Juneteenth holiday on Friday, Thursday marked the end of the trading week. Considering the sell-off on Wednesday afternoon, the week had the potential to end on an uncomfortably volatile note. Instead, bonds pushed ba...Read More

Mortgage Rates Stage Decent Recovery of Post-Fed Losses

6/18/2026 11:46 AM

Mortgage rates spiked yesterday after the Fed announcement. The primary driver was the Fed"s revised outlook for potential rate hikes later this year. Because the Fed Funds Rate governs ultra-short-term transactions (24hrs or less), it has the biggest impact on the shortest-term debt and a diminishing impact on longer term debt. While the typical ...Read More

Mortgage Applications Give Back Some of Last Week"s Gains

6/18/2026 11:25 AM

Mortgage applications pulled back last week as rates moved around in response to fresh inflation data and shifting geopolitical headlines. The Mortgage Bankers Association (MBA) reported a 3.8% decline in total application volume on a seasonally adjusted basis for the week ending June 12. Refinance activity accounted for much of the slowdown. Th...Read More

Builder Sentiment Remains Subdued

6/18/2026 11:22 AM

Builder sentiment slipped again in June as elevated mortgage rates, higher material costs and ongoing affordability pressures continued to weigh on the housing market. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) fell two points to 35 , marking the 14th straight month the index has remained below 40. ...Read More

Non-QM, Hedging, Verification Products; Training Webinars; Title Insurance Stats

6/18/2026 10:35 AM

Lots of people who bought cars during the pandemic are deeply underwater on those vehicles, meaning the amount they owe is considerably higher than the actual value of the vehicle. Among car buyers who traded in a car to buy a new one, 30 percent had negative equity on their trade-in, owing an average of $7,200. One thing that may have caused the s...Read More

Deal Signed. Warsh Digested. Bonds Stabilizing

6/18/2026 9:04 AM

Trump officially signed the Iran MOU last night , which helped oil prices and bond yields move a bit lower. Overseas markets also did a decent job digesting the post-Warsh trade, quarantining most of the damage to the shortest end of the yield curve and buying the longer end (i.e. 10yr rallied back almost completely while 2yr barely rallied). The n...Read More

Bonds Tell Warsh What They Think of His Changes

6/17/2026 4:00 PM

Bonds Tell Warsh What They Think of His Changes Ironically, one of Warsh"s comments in today"s press conference was that market movement is the most important source of information for the Fed. At the same time, the market was effectively saying that it was also fond of hearing what was on the Fed"s mind, a...Read More

Mortgage Rates Spike in Response to Fed

6/17/2026 3:09 PM

Mortgage rates quickly erased a week of progress this afternoon following the Fed announcement and press conference. Fed announcement day historically has several components: the announcement itself, the summary of economic projections (SEP), and the press conference.  Within the SEP, there is the dot plot showing each Fed member"s assumption...Read More

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