Lykken on Lending

The mortgage industry is entering a new era—one shaped by artificial intelligence, vertical integration, consolidation, expanding non-QM opportunities, and rising expectations for a better borrower experience. In this episode of Lykken on Lending, David Lykken sits down with Coby Hakalir of T3 Sixty to explore what mortgage lending could look like over the next decade and why, despite rapid technological change, the human relationship will remain at the heart of the business. They discuss how AI can reduce the cost and complexity of originating loans, why lenders are increasingly looking beyond traditional mortgage revenue through real estate, title, insurance, and servicing, and how non-QM lending could become an increasingly important part of the market. From improving the customer journey to navigating the next wave of industry consolidation, this conversation examines the forces reshaping mortgage lending—and what lenders and loan officers should be preparing for now.

The Lykken on Lending Weekly Mortgage Update delivers expert commentary and timely insights from across the mortgage industry. Each episode features a curated lineup of respected thought leaders and analysts:Adam DeSanctis with the MBA Mortgage Minute, providing key updates from the Mortgage Bankers Association.Les Parker’s TMSpotlight offers a macroeconomic perspective with his signature musical parodies.Matt Graham of MBS Live, breaking down market activity and interest rate movements.David Kittle, CEO of The Mortgage Collaborative, sharing insights on mortgage originations and industry trends.Alice Alvey of Union Home Mortgage, delivering essential regulatory and legislative updates.Allen Pollack, with the Tech Report, spotlighting emerging technologies impacting mortgage operations.Bill Corbet, presenting Bill's Bullet Commentary with focused insights on loan servicing and capital markets.Marc Helm, offering Marc’s Rant, an unfiltered take on operational and agency-related developments.Together, this expert panel brings clarity, relevance, and a touch of personality to the ever-evolving mortgage landscape.

The mortgage industry is facing a convergence of uncertainty—from persistent pressure on Treasury yields and mortgage rates to significant changes at Fannie Mae and an increasingly aggressive battle for mortgage talent. In this week’s commentary, we examine what these developments mean for lenders and originators, including why mortgage professionals shouldn’t allow daily market volatility to distract them from building their businesses. We also take a closer look at today’s recruiting environment, where large signing bonuses and attractive upfront offers can mask important questions about pricing, product availability, compensation, and long-term opportunity. The message for mortgage leaders and loan officers is simple: understand the risks, do your homework, look beyond the immediate incentives, and make decisions based on sustainable long-term success.

Generative and agentic AI are rapidly reshaping the mortgage technology stack, challenging traditional SaaS and CRM platforms while rewarding lenders that build flexible, AI-enabled operations.-----------------------------------------------------Allen Pollack, Tech ConsultantAllen Pollack, a Mortgage & Financial Services Technology Advisor, is a subject matter expert in the mortgage origination process along with software product management and software development.In today’s financial services push to all things Digital, Allen has been helping lenders and financial services solution providers align their digital transformation and technology strategies by removing the human element of risk, and automating processes that drive efficiencies and margins into profits.Over the course of his career, Allen has co-created and developed technology business models that have birthed highly successful, innovative solutions and companies.Allen co-founded and served as CTO of New York Loan Exchange (NYLX), a loan product eligibility and pricing engine (PPE) that made an immediate impact on the industry, scaling the company quickly and forming partnerships with multiple mortgage and financial lending companies. In 2012, Allen was a co-founder of a merger between NYLX and Aklero Risk Analytics that created LoanLogics, A Mortgage Loan Quality and Performance Analytics company. Allen served as CTO where he continued to bring new and innovative product solutions to the market that made a significant impact to mortgage lenders that reduced risk, scaled business channels, and grew profits in a very competitive and highly regulated market.Allen is also is mortgage and finance technology contributor on a weekly live industry podcast, Lykken on Lending, and is launching a new podcast soon to be released, TechStack Radio, dedicated to technology and innovation in Financial Services.

Colorado’s proposed AI rules could require disclosure and human review of automated mortgage decisions, signaling a new compliance challenge for lenders nationwide.------------------------------------------------------------------Alice Alvey, Master CMBVice President Partner Education and Training at Union Home MortgageShe handles development of their World Class Training program designed to support UHM partners and organizational effectiveness.Prior to UHM, Alice served as Senior Vice President at Indecomm leading the Indecomm-Mortgage U division, Internal QA and Compliance and SaaS technologies. Indecomm acquired Mortgage U in 2013, where Alice was President/Co-founder, providing training and consulting since 1996. Prior to MU she served as SVP of Operations at a national bank overseeing operations for wholesale, retail and correspondent from underwriting through servicing, and compliance.She has been in the trenches of mortgage lending operations from application through servicing for over 30 years. Her authoring work in training content, policies and procedures and the FHA/VA Practical guides illustrates her ability to bridge regulatory requirements with day-to-day operations.Alice has been a weekly contributor to the Lykken on Lending show since its beginning in April 2009 and has made her weekly contributions to 450+ episodes!

Mortgage rates remain under pressure as oil prices, Treasury buyback activity, and elevated corporate bond issuance compete to drive bond yields, with PCE inflation and Jackson Hole providing the next potential market catalysts.-----------------------------------------------------Matt began as an originator in 2002. He fell in love with the idea of following MBS in real-time but felt that existing products were only scratching the surface. Thus was born MBS Live in 2007, the first-of-its-kind platform with real-time market data/analysis, and live chat with analysts, traders, and originators around the country. He is currently the Founder and CEO of MBSLive!He's been covering bond/mortgage markets, writing commentary, alerts, and chatting with the live community every business hour of every business day ever since.Matt also serves as the Chief of Operations for mortgagenewsdaily.com, where he is one of the industry's most respected mortgage rate experts, frequently quoted in the media. Mortgage News Daily's rate index is used as the definitive resource on day-to-day mortgage rate averages.He lives in the Pacific Northwest with his wife and son, where he enjoys skiing, fishing, coaching youth sports, playing the guitar, and more DIY projects/hobbies than he'd care to admit.

08-25-2026 The Bond Market Is On "Fire"------------------Fire (ouch): The way news walks and talks really sets Bonds off to a four-alarm.The FT and the WSJ declare the Bond market a FOUR-alarm fire, but if equities reverse, it will be a five-alarm. With all this heat from raging bears, why does the 10-yr remain below 4.80? What drives Bond implied volatility below 10?When headlines hype fear, but the details reveal global economic malaise, what is a mortgage banker to do? Focus on the mundane.Do we know bonds' desire?These views are mine. Discover what drives rates at TMSpotlight.------------------Song: Fire (1974) The Ohio Players Used in Cruella

MBA is urging the CFPB to modernize TILA, RESPA, and TRID rules to reduce unnecessary compliance burdens, simplify the mortgage process, and expand consumer access to credit.-------------------------------------------------------------Adam DeSanctis, VP of Communications at Mortgage Bankers AssociationAs a strategic public affairs and communications executive with nearly two decades of experience, Adam has deep expertise in strategy, management, and media relations. He is widely considered to be an expert in a variety of communications, including advocacy, brand, executive, crisis, grassroots, and social media. In his career, he has been the MBA spokesperson on a wide variety of real estate research and advocacy-related issues, promoted MBA research and advocacy efforts to financial, political, and trade industry media and on MBA's social media channels, and secured media opportunities for MBA leadership on key real estate trends and issues, generated media coverage for MBA's research and data on mortgage applications, credit availability, homebuilder applications, mortgage forbearance/delinquencies, commercial real estate originations, and forecasts, and other industry analysis, developed key strategic initiatives for MBA's organizational public affairs plan, media relations and member communications support for mPower, MBA's Opens Doors Foundation and MBA's Diversity, Equity, and Inclusion program.

AI is quickly moving beyond chatbots and simple assistants into something far more powerful: a personal workforce of intelligent agents capable of helping professionals get more done with less friction. In this week’s Weekly AI Update, David Lykken is joined by Pavan Agarwal and Jennifer Vallinayagam to explore how AI agents can help mortgage professionals organize their day, conduct research, prepare for meetings, create content, prospect and nurture leads, and make better use of their time. They also examine the broader economic opportunity created when small businesses combine greater access to capital with AI-powered productivity. With agents becoming easier and less expensive to deploy, the conversation is shifting from “How do I use AI?” to “What can I delegate to AI?”—and that could create a significant competitive divide between businesses that embrace an AI workforce and those that don’t.

The mortgage industry is entering a new era—one shaped by artificial intelligence, vertical integration, consolidation, expanding non-QM opportunities, and rising expectations for a better borrower experience. In this episode of Lykken on Lending, David Lykken sits down with Coby Hakalir of T3 Sixty to explore what mortgage lending could look like over the next decade and why, despite rapid technological change, the human relationship will remain at the heart of the business. They discuss how AI can reduce the cost and complexity of originating loans, why lenders are increasingly looking beyond traditional mortgage revenue through real estate, title, insurance, and servicing, and how non-QM lending could become an increasingly important part of the market. From improving the customer journey to navigating the next wave of industry consolidation, this conversation examines the forces reshaping mortgage lending—and what lenders and loan officers should be preparing for now.

The Lykken on Lending Weekly Mortgage Update delivers expert commentary and timely insights from across the mortgage industry. Each episode features a curated lineup of respected thought leaders and analysts:Adam DeSanctis with the MBA Mortgage Minute, providing key updates from the Mortgage Bankers Association.Les Parker’s TMSpotlight offers a macroeconomic perspective with his signature musical parodies.Matt Graham of MBS Live, breaking down market activity and interest rate movements.David Kittle, CEO of The Mortgage Collaborative, sharing insights on mortgage originations and industry trends.Alice Alvey of Union Home Mortgage, delivering essential regulatory and legislative updates.Allen Pollack, with the Tech Report, spotlighting emerging technologies impacting mortgage operations.Bill Corbet, presenting Bill's Bullet Commentary with focused insights on loan servicing and capital markets.Marc Helm, offering Marc’s Rant, an unfiltered take on operational and agency-related developments.Together, this expert panel brings clarity, relevance, and a touch of personality to the ever-evolving mortgage landscape.

The mortgage industry is preparing for another significant transformation as appraisal modernization introduces expanded data requirements, tighter validation standards, and new technology demands across the valuation process. While lenders and technology vendors are preparing for the transition, a larger concern may be developing at the individual appraiser level—particularly in rural markets where an already limited pool of professionals could shrink further as experienced appraisers decide the additional complexity isn’t worth the investment. The changes could also drive appraisal costs higher at a time when lenders are working aggressively to reduce other origination expenses. In this week’s discussion, we examine whether lenders, AMCs, technology providers, and appraisers are truly ready, what the changes could mean for appraisal capacity and pricing, and whether growing pressure on the traditional appraisal model could ultimately accelerate the mortgage industry’s move toward automated valuation technology.

Generative and agentic AI are rapidly reshaping the mortgage technology stack, challenging traditional SaaS and CRM platforms while rewarding lenders that build flexible, AI-enabled operations.-----------------------------------------------------Allen Pollack, Tech ConsultantAllen Pollack, a Mortgage & Financial Services Technology Advisor, is a subject matter expert in the mortgage origination process along with software product management and software development.In today’s financial services push to all things Digital, Allen has been helping lenders and financial services solution providers align their digital transformation and technology strategies by removing the human element of risk, and automating processes that drive efficiencies and margins into profits.Over the course of his career, Allen has co-created and developed technology business models that have birthed highly successful, innovative solutions and companies.Allen co-founded and served as CTO of New York Loan Exchange (NYLX), a loan product eligibility and pricing engine (PPE) that made an immediate impact on the industry, scaling the company quickly and forming partnerships with multiple mortgage and financial lending companies. In 2012, Allen was a co-founder of a merger between NYLX and Aklero Risk Analytics that created LoanLogics, A Mortgage Loan Quality and Performance Analytics company. Allen served as CTO where he continued to bring new and innovative product solutions to the market that made a significant impact to mortgage lenders that reduced risk, scaled business channels, and grew profits in a very competitive and highly regulated market.Allen is also is mortgage and finance technology contributor on a weekly live industry podcast, Lykken on Lending, and is launching a new podcast soon to be released, TechStack Radio, dedicated to technology and innovation in Financial Services.

8.17.26 "Hello Goodbye" Say Bulls---------------------Wha, Wha, wha, wha, wha, whaDo BULLS say goodbye, goodbye, bye, bye, bye, bye?Staying between 4.80 and 4.20 in the 10-year yield enables builders to build, agents to sell, and mortgage bankers to lend.Last week, inflation showed it isn't wild, but investors fear nightmare scenarios in the Strait of Hormuz despite Iran's dire economic plight. As a result, the timid bulls said goodbye.We don't know why BULLS say goodbye, we say helloHelloThese views are mine. Say hello at TMSpotlight.Hela, heba helloa – Singers only----------------------Song: Hello Goodbye (1967) The Beatles

MBA is urging the CFPB to modernize TILA, RESPA, and TRID rules to reduce unnecessary compliance burdens, simplify the mortgage process, and expand consumer access to credit.-------------------------------------------------------------Adam DeSanctis, VP of Communications at Mortgage Bankers AssociationAs a strategic public affairs and communications executive with nearly two decades of experience, Adam has deep expertise in strategy, management, and media relations. He is widely considered to be an expert in a variety of communications, including advocacy, brand, executive, crisis, grassroots, and social media. In his career, he has been the MBA spokesperson on a wide variety of real estate research and advocacy-related issues, promoted MBA research and advocacy efforts to financial, political, and trade industry media and on MBA's social media channels, and secured media opportunities for MBA leadership on key real estate trends and issues, generated media coverage for MBA's research and data on mortgage applications, credit availability, homebuilder applications, mortgage forbearance/delinquencies, commercial real estate originations, and forecasts, and other industry analysis, developed key strategic initiatives for MBA's organizational public affairs plan, media relations and member communications support for mPower, MBA's Opens Doors Foundation and MBA's Diversity, Equity, and Inclusion program.

The housing market may feel stuck, but beneath the surface, powerful demographic and economic forces are setting the stage for its next chapter. In this Hot Topic, David Lykken sits down with Odeta Kushi, Deputy Chief Economist at First American Financial Corporation, to unpack what the data is really telling us about housing affordability, inventory, mortgage rates, and regional market differences. Odeta explains why the U.S. still faces a long-term housing shortage despite rising inventory in markets like Texas and Florida, how a “silver glacier” of aging Baby Boomers could gradually reshape housing supply, and why a growing population of “shadow homeowners”—younger adults with the jobs and incomes to buy but who have yet to leave the family home—could represent significant pent-up demand. For mortgage leaders trying to determine where opportunity will emerge next, this conversation offers a data-driven look beyond the headlines at the forces that could shape housing and mortgage demand for years to come.

The Lykken on Lending Weekly Mortgage Update delivers expert commentary and timely insights from across the mortgage industry. Each episode features a curated lineup of respected thought leaders and analysts:Adam DeSanctis with the MBA Mortgage Minute, providing key updates from the Mortgage Bankers Association.Les Parker’s TMSpotlight offers a macroeconomic perspective with his signature musical parodies.Matt Graham of MBS Live, breaking down market activity and interest rate movements.David Kittle, CEO of The Mortgage Collaborative, sharing insights on mortgage originations and industry trends.Alice Alvey of Union Home Mortgage, delivering essential regulatory and legislative updates.Allen Pollack, with the Tech Report, spotlighting emerging technologies impacting mortgage operations.Bill Corbet, presenting Bill's Bullet Commentary with focused insights on loan servicing and capital markets.Marc Helm, offering Marc’s Rant, an unfiltered take on operational and agency-related developments.Together, this expert panel brings clarity, relevance, and a touch of personality to the ever-evolving mortgage landscape.

The challenges surrounding UWM could have implications that extend far beyond a single company, potentially reshaping the competitive dynamics of the wholesale mortgage market. In this segment of Lykken on Lending, the panel examines how UWM’s financial pressures, legal challenges, aggressive pricing strategy, and evolving leadership could affect mortgage brokers, competing wholesale lenders, and the broader industry. As competitors reconsider margins and brokers evaluate their dependence on wholesale partners for pricing, technology, and compliance support, the discussion raises an important question: could this moment trigger a broader shift in the broker-wholesale model? From pricing and profitability to technology and the potential resurgence of correspondent and retail strategies, the UWM fallout may ultimately become a catalyst for significant change across mortgage lending.

Generative and agentic AI are rapidly reshaping the mortgage technology stack, challenging traditional SaaS and CRM platforms while rewarding lenders that build flexible, AI-enabled operations.-----------------------------------------------------Allen Pollack, Tech ConsultantAllen Pollack, a Mortgage & Financial Services Technology Advisor, is a subject matter expert in the mortgage origination process along with software product management and software development.In today’s financial services push to all things Digital, Allen has been helping lenders and financial services solution providers align their digital transformation and technology strategies by removing the human element of risk, and automating processes that drive efficiencies and margins into profits.Over the course of his career, Allen has co-created and developed technology business models that have birthed highly successful, innovative solutions and companies.Allen co-founded and served as CTO of New York Loan Exchange (NYLX), a loan product eligibility and pricing engine (PPE) that made an immediate impact on the industry, scaling the company quickly and forming partnerships with multiple mortgage and financial lending companies. In 2012, Allen was a co-founder of a merger between NYLX and Aklero Risk Analytics that created LoanLogics, A Mortgage Loan Quality and Performance Analytics company. Allen served as CTO where he continued to bring new and innovative product solutions to the market that made a significant impact to mortgage lenders that reduced risk, scaled business channels, and grew profits in a very competitive and highly regulated market.Allen is also is mortgage and finance technology contributor on a weekly live industry podcast, Lykken on Lending, and is launching a new podcast soon to be released, TechStack Radio, dedicated to technology and innovation in Financial Services.

Mortgage rates moved lower as weaker employment data and easing Iran tensions supported bonds, but renewed oil volatility and upcoming inflation reports could quickly shift the market’s direction.-----------------------------------------------------Matt began as an originator in 2002. He fell in love with the idea of following MBS in real-time but felt that existing products were only scratching the surface. Thus was born MBS Live in 2007, the first-of-its-kind platform with real-time market data/analysis, and live chat with analysts, traders, and originators around the country. He is currently the Founder and CEO of MBSLive!He's been covering bond/mortgage markets, writing commentary, alerts, and chatting with the live community every business hour of every business day ever since.Matt also serves as the Chief of Operations for mortgagenewsdaily.com, where he is one of the industry's most respected mortgage rate experts, frequently quoted in the media. Mortgage News Daily's rate index is used as the definitive resource on day-to-day mortgage rate averages.He lives in the Pacific Northwest with his wife and son, where he enjoys skiing, fishing, coaching youth sports, playing the guitar, and more DIY projects/hobbies than he'd care to admit.

This podcast segment examines the CFPB’s potential overhaul of mortgage refinance disclosures, including proposals to eliminate the three-day post-closing rescission waiting period, standardize waiver forms, and reduce unnecessary delays for borrowers and lenders.------------------------------------------------------------------Alice Alvey, Master CMBVice President Partner Education and Training at Union Home MortgageShe handles development of their World Class Training program designed to support UHM partners and organizational effectiveness.Prior to UHM, Alice served as Senior Vice President at Indecomm leading the Indecomm-Mortgage U division, Internal QA and Compliance and SaaS technologies. Indecomm acquired Mortgage U in 2013, where Alice was President/Co-founder, providing training and consulting since 1996. Prior to MU she served as SVP of Operations at a national bank overseeing operations for wholesale, retail and correspondent from underwriting through servicing, and compliance.She has been in the trenches of mortgage lending operations from application through servicing for over 30 years. Her authoring work in training content, policies and procedures and the FHA/VA Practical guides illustrates her ability to bridge regulatory requirements with day-to-day operations.Alice has been a weekly contributor to the Lykken on Lending show since its beginning in April 2009 and has made her weekly contributions to 450+ episodes!

"Little Red Riding Hood" and The Warsh WolfAwooBonds see Warsh walking' in the woods. He’s like Little Red Riding Hood!The Japanese Yen intervention worked. Consequently, Treasuries took a hit as the Dollar sank, and the Euro lost its bullish momentum. Intervention is not the cure, it’s a tourniquet. The cure is a country or economic zone’s solid policies that encourage investment.Did Warsh decide forward guidance is good? It’s widely reported that Warsh is prepared to raise interest rates in September if inflation goes wild.” He did not show his teeth July because he saw the teeth of others in the mirror.These views are mine. Understand the howls from Bonds at TMSpotlight.-----------Song: Little Red Riding Hood (1966) Sam The Sham & The Pharaohs

The Mortgage Bankers Association is urging the FTC to clarify its proposed AI policy, so financial institutions can meet legal, privacy, security, and consumer protection requirements without those safeguards being considered deceptive AI practices.-------------------------------------------------------------Adam DeSanctis, VP of Communications at Mortgage Bankers AssociationAs a strategic public affairs and communications executive with nearly two decades of experience, Adam has deep expertise in strategy, management, and media relations. He is widely considered to be an expert in a variety of communications, including advocacy, brand, executive, crisis, grassroots, and social media. In his career, he has been the MBA spokesperson on a wide variety of real estate research and advocacy-related issues, promoted MBA research and advocacy efforts to financial, political, and trade industry media and on MBA's social media channels, and secured media opportunities for MBA leadership on key real estate trends and issues, generated media coverage for MBA's research and data on mortgage applications, credit availability, homebuilder applications, mortgage forbearance/delinquencies, commercial real estate originations, and forecasts, and other industry analysis, developed key strategic initiatives for MBA's organizational public affairs plan, media relations and member communications support for mPower, MBA's Opens Doors Foundation and MBA's Diversity, Equity, and Inclusion program.

The mortgage industry may be approaching one of its biggest technological turning points as AI agents begin challenging the traditional software systems lenders have relied on for decades. In this Weekly AI Update, David Lykken and Pavan Agarwal examine why the rise of autonomous AI could fundamentally disrupt SaaS, legacy loan origination systems, CRMs, and other technology built around people manually entering, processing, and transforming information. Drawing on insights from the AI4 conference and recent discussions about the growing pressure on conventional software companies, they explore a future where mortgage professionals simply tell AI what they need accomplished and intelligent agents execute the work behind the scenes. The conversation also addresses AI trust and reliability, operational efficiency, workforce transformation, and why mortgage executives must treat AI adoption as a strategic leadership decision rather than another technology initiative. For lenders and originators, the message is increasingly clear: the competitive advantage may no longer come from having the best software stack, but from learning how to command AI to do the work.

What can mortgage banking learn from IndyCar racing, private spaceflight, and some of the world’s most ambitious technology ventures? In this episode, David Lykken sits down with entrepreneur and investor Granger Whitelaw for a wide-ranging conversation about the mindset required to turn bold ideas into real-world innovation. From helping launch the Rocket Racing League and supporting breakthrough technologies to experiencing firsthand how even a great business idea can be derailed by bad timing, Whitelaw shares lessons on risk, resilience, leadership, and investing in people who truly understand their industries. The conversation ultimately lands squarely on mortgage banking, where AI and emerging technologies are creating opportunities to rethink the lending process from origination through closing. Rocket Science Meets Mortgage Banking: Lessons in Innovation, Risk & AI explores why the next era of mortgage innovation may belong to leaders willing to think bigger, move intelligently, stay humble, and challenge assumptions about what is possible.

The Lykken on Lending Weekly Mortgage Update delivers expert commentary and timely insights from across the mortgage industry. Each episode features a curated lineup of respected thought leaders and analysts:Adam DeSanctis with the MBA Mortgage Minute, providing key updates from the Mortgage Bankers Association.Les Parker’s TMSpotlight offers a macroeconomic perspective with his signature musical parodies.Matt Graham of MBS Live, breaking down market activity and interest rate movements.David Kittle, CEO of The Mortgage Collaborative, sharing insights on mortgage originations and industry trends.Alice Alvey of Union Home Mortgage, delivering essential regulatory and legislative updates.Allen Pollack, with the Tech Report, spotlighting emerging technologies impacting mortgage operations.Bill Corbet, presenting Bill's Bullet Commentary with focused insights on loan servicing and capital markets.Marc Helm, offering Marc’s Rant, an unfiltered take on operational and agency-related developments.Together, this expert panel brings clarity, relevance, and a touch of personality to the ever-evolving mortgage landscape.

A major financial development at United Wholesale Mortgage is sending ripples through the mortgage industry after UWM reported a staggering $409 million hedging loss, raising significant questions about the company’s capital markets strategy and the circumstances surrounding its proposed Two Harbors transaction. In this special breaking-news edition of Lykken on Lending, David Lykken is joined by Pavan Agarwal and David Pahwa to examine what is known, what remains unanswered, and what the situation could mean for UWM, Oaktree’s investment, and the competitive landscape of wholesale mortgage lending. The conversation also takes a broader look at the importance of disciplined hedging and risk management when hundreds of millions—or even billions—of dollars are at stake.

The bond market is sending a message to the Federal Reserve, and mortgage professionals should be paying attention. In this week’s mortgage commentary, the panel examines why uncertainty surrounding Fed policy and its commitment to controlling inflation is putting pressure on longer-term Treasury yields and mortgage rates. With geopolitical conflict continuing to influence oil prices, inflation expectations remaining critical, and global markets facing an unusually high degree of uncertainty, the path toward meaningfully lower mortgage rates remains complicated. The discussion explores why the bond market may increasingly be calling the shots, what it could take to restore confidence in the inflation outlook, and why lenders need to remain alert and adaptable as volatility creates both risk and opportunity.

This podcast segment explores why mortgage lenders should embrace AI innovation now while establishing strong governance to manage Shadow AI, protect borrower data, and navigate an evolving regulatory landscape.-----------------------------------------------------Allen Pollack, Tech ConsultantAllen Pollack, a Mortgage & Financial Services Technology Advisor, is a subject matter expert in the mortgage origination process along with software product management and software development.In today’s financial services push to all things Digital, Allen has been helping lenders and financial services solution providers align their digital transformation and technology strategies by removing the human element of risk, and automating processes that drive efficiencies and margins into profits.Over the course of his career, Allen has co-created and developed technology business models that have birthed highly successful, innovative solutions and companies.Allen co-founded and served as CTO of New York Loan Exchange (NYLX), a loan product eligibility and pricing engine (PPE) that made an immediate impact on the industry, scaling the company quickly and forming partnerships with multiple mortgage and financial lending companies. In 2012, Allen was a co-founder of a merger between NYLX and Aklero Risk Analytics that created LoanLogics, A Mortgage Loan Quality and Performance Analytics company. Allen served as CTO where he continued to bring new and innovative product solutions to the market that made a significant impact to mortgage lenders that reduced risk, scaled business channels, and grew profits in a very competitive and highly regulated market.Allen is also is mortgage and finance technology contributor on a weekly live industry podcast, Lykken on Lending, and is launching a new podcast soon to be released, TechStack Radio, dedicated to technology and innovation in Financial Services.

This podcast segment explores why purchase mortgage demand remains resilient despite elevated interest rates, while rising homeowner's insurance costs and property taxes create new affordability challenges for borrowers.-----------------------------------------David G. Kittle, CMB is a highly respected leader in the mortgage industry, with over 45 years of experience. He is the Co-Founder and Chairman of The Mortgage Collaborative (TMC), a mortgage lending cooperative providing members with access to resources and tools to improve their business operations.Kittle began his mortgage banking career with American Fletcher Mortgage Company as a top-producing loan officer in 1978 moving to the management side in 1986 with Southmark Mortgage. He opened Associates Mortgage Group, the first of his three lending companies in 1994.Kittle served as MORPAC Chairman for MBA, from 2004-2006. He is past President of both the Louisville and Kentucky Mortgage Bankers Associations, as well as leading the industry through its most tumultuous period as Chairman of the Mortgage Bankers Association, Washington DC in 2009. Kittle has testified before congress 14 times.Kittle has been a driving force behind the growth and success of TMC, working to bring together mortgage lenders from across the country to share best practices and collaborate on key industry issues. Kittle has also been a vocal advocate for innovation and technology adoption in the mortgage industry, urging lenders to embrace new tools and strategies to improve their operations and better serve their customers.Kittle is a frequent speaker at industry events and conferences, sharing his expertise on a variety of topics related to mortgage lending.He resides in Louisville, Kentucky, he has four children and two grandchildren.

This podcast segment examines the CFPB’s potential overhaul of mortgage refinance disclosures, including proposals to eliminate the three-day post-closing rescission waiting period, standardize waiver forms, and reduce unnecessary delays for borrowers and lenders.------------------------------------------------------------------Alice Alvey, Master CMBVice President Partner Education and Training at Union Home MortgageShe handles development of their World Class Training program designed to support UHM partners and organizational effectiveness.Prior to UHM, Alice served as Senior Vice President at Indecomm leading the Indecomm-Mortgage U division, Internal QA and Compliance and SaaS technologies. Indecomm acquired Mortgage U in 2013, where Alice was President/Co-founder, providing training and consulting since 1996. Prior to MU she served as SVP of Operations at a national bank overseeing operations for wholesale, retail and correspondent from underwriting through servicing, and compliance.She has been in the trenches of mortgage lending operations from application through servicing for over 30 years. Her authoring work in training content, policies and procedures and the FHA/VA Practical guides illustrates her ability to bridge regulatory requirements with day-to-day operations.Alice has been a weekly contributor to the Lykken on Lending show since its beginning in April 2009 and has made her weekly contributions to 450+ episodes!

This podcast segment examines why mortgage rates moved higher despite the Fed holding steady, as uncertainty over Fed policy, inflation, Treasury selling, oil prices, and global market volatility pushed rates near their highest levels in more than a year.-----------------------------------------------------Matt began as an originator in 2002. He fell in love with the idea of following MBS in real-time but felt that existing products were only scratching the surface. Thus was born MBS Live in 2007, the first-of-its-kind platform with real-time market data/analysis, and live chat with analysts, traders, and originators around the country. He is currently the Founder and CEO of MBSLive!He's been covering bond/mortgage markets, writing commentary, alerts, and chatting with the live community every business hour of every business day ever since.Matt also serves as the Chief of Operations for mortgagenewsdaily.com, where he is one of the industry's most respected mortgage rate experts, frequently quoted in the media. Mortgage News Daily's rate index is used as the definitive resource on day-to-day mortgage rate averages.He lives in the Pacific Northwest with his wife and son, where he enjoys skiing, fishing, coaching youth sports, playing the guitar, and more DIY projects/hobbies than he'd care to admit.

08-04-2026 The Fed Takes a "Magical Mystery Tour"-------------------Fed Warsh’s mystery tour is hoping Bonds take their own way. Hoping they don’t go astray.TMSpotlight SoundBites is brought to you by PowerSeller and Adam Quinones' DataQollab.Bonds continued to show their disapproval of the Fed’s not tightening. Alternatively, the short end acknowledged the Fed’s magical mystery tour creates less hawkishness. So, the curve steepened.Expect an Iranian deal to restore the path to free-flowing oil, pushing down Oil prices and Bond yields. Regardless, the 10-yr yield remains stuck between 4.80 and 4.20.Rates GO up. These views are mine. Fed’s new mystery tour. Join TMSpotlight. You got everything you need. Satisfaction guaranteed.-------------------Song: Magical Mystery Tour (1967) The Beatles

This podcast segment highlights FHA’s decision to ease property standards for existing homes, removing outdated well-distance requirements that could expand access to FHA financing in more communities.-------------------------------------------------------------Adam DeSanctis, VP of Communications at Mortgage Bankers AssociationAs a strategic public affairs and communications executive with nearly two decades of experience, Adam has deep expertise in strategy, management, and media relations. He is widely considered to be an expert in a variety of communications, including advocacy, brand, executive, crisis, grassroots, and social media. In his career, he has been the MBA spokesperson on a wide variety of real estate research and advocacy-related issues, promoted MBA research and advocacy efforts to financial, political, and trade industry media and on MBA's social media channels, and secured media opportunities for MBA leadership on key real estate trends and issues, generated media coverage for MBA's research and data on mortgage applications, credit availability, homebuilder applications, mortgage forbearance/delinquencies, commercial real estate originations, and forecasts, and other industry analysis, developed key strategic initiatives for MBA's organizational public affairs plan, media relations and member communications support for mPower, MBA's Opens Doors Foundation and MBA's Diversity, Equity, and Inclusion program.

The AI gold rush is in full swing, but many organizations are chasing the latest tools while overlooking the asset that will determine long-term success—their own data. In this episode of the Weekly AI Update, David Lykken and AI innovator Pavan Agarwal break down the biggest insights emerging from the AI4 Conference, discuss why enterprise AI strategy matters more than isolated AI deployments, and explore how AI agents are transforming the way businesses operate. They also examine the growing importance of proprietary AI patents, intelligent automation, and trusted data as the foundation for competitive advantage. If you're looking to move beyond AI hype and build a sustainable strategy that delivers real business value, this conversation provides practical insights into where AI is headed and how forward-thinking leaders can position themselves for the future.

As Fannie Mae's new AI governance requirements take effect on August 6, mortgage lenders face growing pressure to ensure their AI strategies are compliant, transparent, and audit-ready. In this episode of Lykken on Lending, David Lykken sits down with Steve Butler, CEO of TRUE, to discuss what these new requirements really mean, the misconceptions many lenders have about AI governance, and why deterministic AI is becoming essential for reducing risk. Steve also introduces TRUE's new Industry Guide, offering practical insights that help lenders build trust, improve compliance, and prepare for the future of AI-powered lending.

The Lykken on Lending Weekly Mortgage Update delivers expert commentary and timely insights from across the mortgage industry. Each episode features a curated lineup of respected thought leaders and analysts:Adam DeSanctis with the MBA Mortgage Minute, providing key updates from the Mortgage Bankers Association.Les Parker’s TMSpotlight offers a macroeconomic perspective with his signature musical parodies.Matt Graham of MBS Live, breaking down market activity and interest rate movements.David Kittle, CEO of The Mortgage Collaborative, sharing insights on mortgage originations and industry trends.Alice Alvey of Union Home Mortgage, delivering essential regulatory and legislative updates.Allen Pollack, with the Tech Report, spotlighting emerging technologies impacting mortgage operations.Bill Corbet, presenting Bill's Bullet Commentary with focused insights on loan servicing and capital markets.Marc Helm, offering Marc’s Rant, an unfiltered take on operational and agency-related developments.Together, this expert panel brings clarity, relevance, and a touch of personality to the ever-evolving mortgage landscape.

Mortgage professionals hoping for a dramatic drop in interest rates may need to rethink their strategy, because today’s market continues to be shaped by persistent inflation concerns, volatile oil prices, geopolitical uncertainty, and an unpredictable Federal Reserve outlook. In this week’s mortgage commentary, the discussion cuts through the noise to focus on what lenders and originators can actually control: finding opportunities in the purchase market, spending the time necessary to understand challenged borrowers, structuring loans creatively, and helping more consumers achieve homeownership at today’s rates. Buyers are still buying and business is still being done, which makes the message especially relevant for mortgage professionals waiting on the sidelines for a refinance boom that may not arrive anytime soon. Rather than hoping the market will create opportunity, successful lenders must adapt to the environment in front of them, strengthen their execution, and remember one simple principle: hope is not a strategy.

This podcast segment explores why mortgage lenders should embrace AI innovation now while establishing strong governance to manage Shadow AI, protect borrower data, and navigate an evolving regulatory landscape.-----------------------------------------------------Allen Pollack, Tech ConsultantAllen Pollack, a Mortgage & Financial Services Technology Advisor, is a subject matter expert in the mortgage origination process along with software product management and software development.In today’s financial services push to all things Digital, Allen has been helping lenders and financial services solution providers align their digital transformation and technology strategies by removing the human element of risk, and automating processes that drive efficiencies and margins into profits.Over the course of his career, Allen has co-created and developed technology business models that have birthed highly successful, innovative solutions and companies.Allen co-founded and served as CTO of New York Loan Exchange (NYLX), a loan product eligibility and pricing engine (PPE) that made an immediate impact on the industry, scaling the company quickly and forming partnerships with multiple mortgage and financial lending companies. In 2012, Allen was a co-founder of a merger between NYLX and Aklero Risk Analytics that created LoanLogics, A Mortgage Loan Quality and Performance Analytics company. Allen served as CTO where he continued to bring new and innovative product solutions to the market that made a significant impact to mortgage lenders that reduced risk, scaled business channels, and grew profits in a very competitive and highly regulated market.Allen is also is mortgage and finance technology contributor on a weekly live industry podcast, Lykken on Lending, and is launching a new podcast soon to be released, TechStack Radio, dedicated to technology and innovation in Financial Services.

This podcast segment encourages lenders to stop waiting for lower interest rates and instead focus on growing their business by embracing today's market, serving purchase borrowers, and capitalizing on opportunities like non-QM lending.------------------------------------------------------------------Alice Alvey, Master CMBVice President Partner Education and Training at Union Home MortgageShe handles development of their World Class Training program designed to support UHM partners and organizational effectiveness.Prior to UHM, Alice served as Senior Vice President at Indecomm leading the Indecomm-Mortgage U division, Internal QA and Compliance and SaaS technologies. Indecomm acquired Mortgage U in 2013, where Alice was President/Co-founder, providing training and consulting since 1996. Prior to MU she served as SVP of Operations at a national bank overseeing operations for wholesale, retail and correspondent from underwriting through servicing, and compliance.She has been in the trenches of mortgage lending operations from application through servicing for over 30 years. Her authoring work in training content, policies and procedures and the FHA/VA Practical guides illustrates her ability to bridge regulatory requirements with day-to-day operations.Alice has been a weekly contributor to the Lykken on Lending show since its beginning in April 2009 and has made her weekly contributions to 450+ episodes!

This podcast segment explains how surprisingly weak inflation data offset geopolitical tensions and shifting Fed expectations, allowing mortgage rates to improve despite ongoing market volatility.-----------------------------------------------------Matt began as an originator in 2002. He fell in love with the idea of following MBS in real-time but felt that existing products were only scratching the surface. Thus was born MBS Live in 2007, the first-of-its-kind platform with real-time market data/analysis, and live chat with analysts, traders, and originators around the country. He is currently the Founder and CEO of MBSLive!He's been covering bond/mortgage markets, writing commentary, alerts, and chatting with the live community every business hour of every business day ever since.Matt also serves as the Chief of Operations for mortgagenewsdaily.com, where he is one of the industry's most respected mortgage rate experts, frequently quoted in the media. Mortgage News Daily's rate index is used as the definitive resource on day-to-day mortgage rate averages.He lives in the Pacific Northwest with his wife and son, where he enjoys skiing, fishing, coaching youth sports, playing the guitar, and more DIY projects/hobbies than he'd care to admit.

This podcast segment highlights MBA’s recommendations to FHFA for modernizing the GSE Duty to Serve program while protecting lender certainty and continued support for manufactured housing, rural communities, and affordable housing.-------------------------------------------------------------Adam DeSanctis, VP of Communications at Mortgage Bankers AssociationAs a strategic public affairs and communications executive with nearly two decades of experience, Adam has deep expertise in strategy, management, and media relations. He is widely considered to be an expert in a variety of communications, including advocacy, brand, executive, crisis, grassroots, and social media. In his career, he has been the MBA spokesperson on a wide variety of real estate research and advocacy-related issues, promoted MBA research and advocacy efforts to financial, political, and trade industry media and on MBA's social media channels, and secured media opportunities for MBA leadership on key real estate trends and issues, generated media coverage for MBA's research and data on mortgage applications, credit availability, homebuilder applications, mortgage forbearance/delinquencies, commercial real estate originations, and forecasts, and other industry analysis, developed key strategic initiatives for MBA's organizational public affairs plan, media relations and member communications support for mPower, MBA's Opens Doors Foundation and MBA's Diversity, Equity, and Inclusion program.

Artificial intelligence is no longer just about deploying the latest chatbot—it's about building solutions that can be trusted in high-stakes environments. In this week's AI Update, David Lykken sits down with Pavan Agarwal and Jennifer to explore the critical difference between organizations that merely claim to have an AI strategy and those that have built one around proprietary, purpose-built intelligence. From the emergence of "PropAI" to the role of human oversight, warranted AI decisions, and dramatically reducing operational costs, this conversation examines how specialized AI is transforming mortgage lending and why the future belongs to AI systems designed for accountability, accuracy, and real-world outcomes rather than hype.

The mortgage industry is evolving, and success today requires far more than mastering the mechanics of originating loans. In this compelling Hot Topic episode, David Lykken sits down with one of the industry's most respected mortgage coaches and content creators to explore why the traditional loan officer model is giving way to a new era of "mortgage operators." Drawing from two decades of experience as a top-producing originator, executive leader, and coach, the conversation dives into the mindset, systems, leadership, and business strategies that separate sustainable high performers from the rest of the field. Whether you're a new loan officer, an experienced producer, or a mortgage executive developing your next generation of talent, this episode offers practical insights into building a business that can thrive in any market.

The Lykken on Lending Weekly Mortgage Update delivers expert commentary and timely insights from across the mortgage industry. Each episode features a curated lineup of respected thought leaders and analysts:Adam DeSanctis with the MBA Mortgage Minute, providing key updates from the Mortgage Bankers Association.Les Parker’s TMSpotlight offers a macroeconomic perspective with his signature musical parodies.Matt Graham of MBS Live, breaking down market activity and interest rate movements.David Kittle, CEO of The Mortgage Collaborative, sharing insights on mortgage originations and industry trends.Alice Alvey of Union Home Mortgage, delivering essential regulatory and legislative updates.Allen Pollack, with the Tech Report, spotlighting emerging technologies impacting mortgage operations.Bill Corbet, presenting Bill's Bullet Commentary with focused insights on loan servicing and capital markets.Marc Helm, offering Marc’s Rant, an unfiltered take on operational and agency-related developments.Together, this expert panel brings clarity, relevance, and a touch of personality to the ever-evolving mortgage landscape.

This week's mortgage commentary explores why today's lending environment may be less about waiting for lower rates and more about adapting to a fundamentally different market. Bill Corbett's compelling "eye of the storm" analogy frames a discussion on how persistent geopolitical uncertainty, inflation pressures, and a higher-for-longer interest rate environment are likely to remain defining characteristics of the mortgage landscape. The panel also examines the accelerating role of artificial intelligence in reshaping lender operations and highlights growing global confidence in U.S. housing, as evidenced by significant international investment in American homebuilders and housing finance. The message for mortgage leaders is clear: success will belong to organizations that embrace innovation, strengthen operational resilience, and execute confidently in a market where volatility has become the new normal. 

This podcast segment explores why AI governance, data security, and borrower retention—not just automation—are becoming the defining competitive advantages for mortgage lenders as new Fannie Mae AI requirements take effect. -----------------------------------------------------Allen Pollack, Tech ConsultantAllen Pollack, a Mortgage & Financial Services Technology Advisor, is a subject matter expert in the mortgage origination process along with software product management and software development.In today’s financial services push to all things Digital, Allen has been helping lenders and financial services solution providers align their digital transformation and technology strategies by removing the human element of risk, and automating processes that drive efficiencies and margins into profits.Over the course of his career, Allen has co-created and developed technology business models that have birthed highly successful, innovative solutions and companies.Allen co-founded and served as CTO of New York Loan Exchange (NYLX), a loan product eligibility and pricing engine (PPE) that made an immediate impact on the industry, scaling the company quickly and forming partnerships with multiple mortgage and financial lending companies. In 2012, Allen was a co-founder of a merger between NYLX and Aklero Risk Analytics that created LoanLogics, A Mortgage Loan Quality and Performance Analytics company. Allen served as CTO where he continued to bring new and innovative product solutions to the market that made a significant impact to mortgage lenders that reduced risk, scaled business channels, and grew profits in a very competitive and highly regulated market.Allen is also is mortgage and finance technology contributor on a weekly live industry podcast, Lykken on Lending, and is launching a new podcast soon to be released, TechStack Radio, dedicated to technology and innovation in Financial Services.

This podcast segment encourages lenders to stop waiting for lower interest rates and instead focus on growing their business by embracing today's market, serving purchase borrowers, and capitalizing on opportunities like non-QM lending.------------------------------------------------------------------Alice Alvey, Master CMBVice President Partner Education and Training at Union Home MortgageShe handles development of their World Class Training program designed to support UHM partners and organizational effectiveness.Prior to UHM, Alice served as Senior Vice President at Indecomm leading the Indecomm-Mortgage U division, Internal QA and Compliance and SaaS technologies. Indecomm acquired Mortgage U in 2013, where Alice was President/Co-founder, providing training and consulting since 1996. Prior to MU she served as SVP of Operations at a national bank overseeing operations for wholesale, retail and correspondent from underwriting through servicing, and compliance.She has been in the trenches of mortgage lending operations from application through servicing for over 30 years. Her authoring work in training content, policies and procedures and the FHA/VA Practical guides illustrates her ability to bridge regulatory requirements with day-to-day operations.Alice has been a weekly contributor to the Lykken on Lending show since its beginning in April 2009 and has made her weekly contributions to 450+ episodes!

This podcast segment explains how surprisingly weak inflation data offset geopolitical tensions and shifting Fed expectations, allowing mortgage rates to improve despite ongoing market volatility.-----------------------------------------------------Matt began as an originator in 2002. He fell in love with the idea of following MBS in real-time but felt that existing products were only scratching the surface. Thus was born MBS Live in 2007, the first-of-its-kind platform with real-time market data/analysis, and live chat with analysts, traders, and originators around the country. He is currently the Founder and CEO of MBSLive!He's been covering bond/mortgage markets, writing commentary, alerts, and chatting with the live community every business hour of every business day ever since.Matt also serves as the Chief of Operations for mortgagenewsdaily.com, where he is one of the industry's most respected mortgage rate experts, frequently quoted in the media. Mortgage News Daily's rate index is used as the definitive resource on day-to-day mortgage rate averages.He lives in the Pacific Northwest with his wife and son, where he enjoys skiing, fishing, coaching youth sports, playing the guitar, and more DIY projects/hobbies than he'd care to admit.