“Why is Ireland so expensive? House prices are always Dublin'.” Those days are temporarily over in the United States, and the pendulum is quickly swinging to more inventory and price cuts in many places and price points. (If you’re wondering where your client can pick up an average home for cheap: Most Affordable U.S. Cities to Buy a Home for $300k or less.) Of all the major metro markets, Phoenix boasted the greatest number of listings with price cuts, at 31.3%, up more than 7 percentage points from the same period last year amid rising inventory. (The typical home in Phoenix costs $525,000, representing a drop of more than 3% from May 2024.) Here in Tampa, citizens saw the second-biggest share of discounted listings, at just below 30%. The median list price in the Sunshine State market stood at $417,500, having shed 1.6% compared with the same time last year. Coming in at No. 3, Denver had 29.4% of local home sellers slash prices on their properties last month. (Today’s podcast can be found here and this week’s are presented by Flyhomes, the leading wholesale lender for Buy Before You Sell solutions. Whether your borrowers run into DTI issues, need to unlock home equity for down payment, make a stronger, cash-like offer, or even move potentially with no cash out of pocket, Flyhomes provides a full suite of financial products to help them move forward, before selling their current home. Hear an interview with LoanLogics’ Roby Robertson on the proliferation of the non-QM mortgage market, examining its key growth drivers, borrower trends, technological advancements, and how lenders are navigating risk and compliance amid shifting economic conditions.)
LO Survey
Calling all loan originators: Tell us about the last year! Take the annual Loan Originators Survey from MGIC and Loan Officer Hub to weigh in on how you handled the challenges, opportunities, and trends of the past year. Get a head start on comparing your strategies to your peers.’ Complete the survey by June 30 and you’ll receive exclusive early access to the full survey report this fall!
Products, Software, and Services for Lenders
You don’t need an advanced degree to make smarter lending decisions, but you do need the right data. Optimal Blue’s Market Advantage report delivers it. Driven by data from the engine that powers your profitability, the report provides rate lock and hedging data only Optimal Blue can provide. The Market Advantage report now includes new insights across origination and secondary markets, including property type, debt-to-income ratio, first-time homebuyer status, servicing rights and market rate indices, and average investor count at loan sale. The expanded Market Advantage report captures the full capital markets lifecycle, connecting the dots between pricing pipeline risk and loan sale execution. These enhancements come at a critical time for lenders navigating heightened interest rates, tighter margins, increased volatility, and deepening affordability challenges. If you’re looking for a more comprehensive picture of early-stage mortgage activity and loan profitability, this is it. Review the latest Market Advantage report.
Let’s be honest: The Empower LOS from Dark Matter Technologies isn’t the cheapest platform on the market, and we’re not pretending it is. But forward-thinking lenders know you get what you pay for. It’s about investing in a more efficient process. Empower helps lenders reduce real costs dragging down their operations. We're talking about getting more productivity from people using the platform, increasing scalability, and reducing unnecessary loan touches through task-driven, exception-based processing. Lenders making the switch are seeing operational savings of 15–30% annually… not through cheaper tech, but by replacing outdated processes with intelligent, scalable automation. Empower also helps reduce risk, speed up post-close, and deliver a smoother borrower experience, all while giving lenders the flexibility they need in a shifting market. It’s not about cutting corners: it’s about maximizing value.
“The right subservicer should feel like an extension of your business. At Servbank, we understand your challenges and deliver a best-in-class customer experience with full transparency and superior portfolio performance. With a 98% customer satisfaction rate, 85 NPS, and a 92% first-call resolution, we serve to a higher standard, because you and your customers deserve nothing less. Our collaborative approach ensures your customers are cared for, your portfolio thrives, and your brand stays strong. Experience the difference.”
“An internal audit is required to apply for or maintain Fannie Mae approval and an effective internal audit function will do so much more. It will help you better understand what is really going on in your operation, so you can make informed decisions and operate more effectively while minimizing your risk. There are many free resources for sellers and servicers, provided by Fannie Mae, to assist in meeting your internal audit requirements. Discover these resources here and tune into Richey May’s Internal Audit Insight video series to get answers to all your internal audit questions. From risk assessment to control identification and testing, each episode explores how internal audits can fortify your operations, enhance compliance, and streamline processes. Email info@richeymay.com to speak with one of our experts today!”
“Real Estate Investors move fast, but so does Kind. Through 6/30, we’re offering a limited-time pricing special on our Kind DSCR programs*: .50 BPS improvement on purchases and .25 BPS improvement on refinances. Ask your Kind AE for more information! Kind DSCR loans are built for portfolio growth with: Qualifying based on property cash flow (no income docs required), loan amounts to $3 million, and LTVs up to 85%. We accept rural properties, gift funds, and even short-term rentals. Interest-only options and cash-out up to 75% LTV available. With flexible guidelines and fast closings, Kind helps investors scale smart. Search DSCR in Kwikie! Not an approved partner yet? Click here to get started!”
Fold a single sheet of paper seven times, and you’ll get a surprisingly firm structure. That’s the magic of origami: turning something simple into something sophisticated through thoughtful design. If you're leading digital transformation at your lending shop, here's where it gets relevant: Tropos does the same for the borrower experience. It takes what’s complex behind the scenes and folds it into clean, intuitive journeys borrowers actually want to complete. Modular in architecture, modern in feel, Tropos flexes to your products, your process, your pace. You don’t need a massive system overhaul to deliver a better portal, just a solution designed with your business (and your borrowers) in mind. Discover the simplicity of Tropos.
“In today’s volatile market, standing still isn’t an option. Lenders and MSR holders need a subservicing partner with the scale, agility, and insight to drive performance. LoanCare® delivers end-to-end servicing solutions, spanning full, interim, backup, and component servicing, along with private label options that protect your brand while enhancing operational efficiency. Our deep product expertise, including HELOCs and seconds, ensures seamless execution and superior customer experiences. With advanced data analytics and account-based marketing offerings, we help you identify and convert high-value customers before they look elsewhere. Turn uncertainty into opportunity: Contact David Vida, Chief Revenue Officer, today to elevate your subservicing strategy. LoanCare: Experience you can trust. A partner you can rely on.”
“Looking to simplify pricing scenarios for your borrowers? Maxwell QuickPricer empowers loan officers to shop, compare, and share pricing scenarios all within Maxwell Point of Sale. An industry first, QuickPricer gives borrowers quick answers while LOs gain a competitive edge with faster, smarter pricing. QuickPricer integrates with all major PP&E’s and insurance providers, empowering your team to move from quote to application in seconds. Want to learn more? Let us know and we’ll show you what Maxwell can do for you and your borrowers.”
“Ace the MERS Annual Report with a best-in-class third party review by Falcon Capital Advisors! Loan servicers can submit their 2025 MERS Annual Report beginning this month. Servicers of 1,000 or more MERS loans must use a qualified independent firm to review and assess their MERS processes and sign off on the Annual Report. No firm is more qualified than Falcon. Our team combines former MERS staff who developed and enforced compliance requirements for MERS with experienced mortgage industry auditors. We tailor our review to your specific needs and availability, and our rates can’t be beat. Contact Falcon today for a free consultation. Falcon Capital Advisors is a full-service management consulting firm supporting the mortgage industry. Think of us for everything from eMortgage, technology vendor selection and implementation, business transformation, and data analytics to operations, policy, CDFI, regulatory compliance, and affordable housing.”
Still chasing applications that never convert? LiteSpeed by LenderLogix gives borrowers a modern, mobile-first experience that drives completion, not abandonment. With real-time Encompass® integration, a dynamic borrower dashboard, and zero login barriers, your team gets complete files faster and your borrowers stay engaged from the first click. A better borrower experience. A more efficient lending team. That’s LiteSpeed. Book a demo with the team.
Today's episode of MortgagePros411 at 11am PT will feature Molly Ellis, a Housing Finance Officer with over three decades of experience in mortgage finance, as she shares insights on affordable housing solutions and how CalHFA programs can help more Californians achieve homeownership. The conversation will explore strategies for supporting homeownership in California through accessible financing options.
Brian Vieaux on LOs’ Real Estate Agent Relationships
Over the weekend I received an “MLO VieauxPoint” from Brian Vieaux, CMB, President & COO of FinLocker & Founding ‘Expert’ of MLO Live, suggesting that LOs, “Teach First, Ask Later.” Brian wrote, “Loan Officers often ask, ‘How do I get more referrals from Realtors?’ Here’s a better question: What have you taught a Realtor lately?’
“This week, I teamed up with my friend Geoff Zimpfer for a webinar focused on one powerful strategy: Lead with value by teaching. When you show up with a skill, insight, or strategy that can help a Realtor grow their business, you do something very few Loan Officers ever attempt: you flip the dynamic. Instead of being seen as another "referral asker," you're positioned as a value provider. You earn trust. You build credibility. And just as important, you stand out.
“Think about how relationships form. The first impression matters. So does the second. And if those first few touches are about giving, not taking, especially in the form of knowledge that helps a Realtor win new business, you're embedding yourself as part of their success.
When what you teach leads to tangible results for an agent, guess who they’ll remember the next time a client needs financing?
This isn’t about creating a full-blown Realtor class series (though that’s not a bad idea). It’s about looking at the strategies and tools you already use and asking, “Who else could benefit from this?” Can you walk a Realtor through how you use ChatGPT to generate listing descriptions or video scripts? Can you explain how to leverage short-form videos to attract move-up buyers in their market? Can you teach them how to convert cold leads using automation?
Every time you teach, you create a moment of leverage. You’re not chasing business, you’re earning it.
“Here’s your challenge this week: Identify one thing you know that could help an agent grow their business. Then reach out to two Realtors and offer to teach it. Not pitch. Not ask. Just teach. Try this line: ‘I’ve been working with some great agents on [insert your tip/tool/strategy] … Would it be helpful if I walked you through it sometime this week?’ Simple. Generous. Effective.
“The future belongs to Loan Officers who are more than transaction managers. It belongs to educators, advisors, and partners. Start with teaching. The referrals will follow. I created 10 social media post templates for Loan Officers for National Homeownership month. Shoot me an email for a copy.” Thank you, Brian.
Capital Markets
On today's episode of Capital Markets Wrap, powered by Polly and airing at 12pm PT, Rob Chrisman, James Baublitz, and Ira Selwin share insights from the MBA Secondary conference and examine how volatility and technology are shaping originator strategies in the current market. They'll also discuss the evolving narrative around Fannie and Freddie on social media and highlight trends in AUS-driven jumbo, non-QM, and ARM products.
Last week’s data painted a mixed picture of the job market amid the uncertainties of the Trump administration’s tariff wars. ADP private-sector payrolls slowed down, job openings unexpectedly rose in April, nonfarm payroll was somewhat weak. There’s nothing to change the status quo for the Fed. Some economists are revising forecasts for any activity from the Federal Reserve’s Federal Open Market Committee, and expect a rate cut in September versus July previously, and at each of the subsequent four meetings through March. But the most common forecast among major Wall Street banks is for just one cut this year, in either September or December.
There is no shortage of news shaping investor sentiment. In the U.S., the National Guard has been deployed in Los Angeles. In London, trade discussions between the U.S. and China are underway. In the east Mediterranean, Israeli forces intercepted a ship carrying aid bound for Gaza. In January, President Trump returned to the White House with significant foreign policy goals, including ambitions to broker a peace deal in Ukraine within 24 hours, facilitate an agreement between Israel and Hamas, and reset global trade dynamics in favor of the U.S. However, these outcomes have yet to materialize. Despite early assertions of rapid progress, major foreign policy milestones remain unmet (and no, that isn’t a political statement). So far, the administration’s most tangible trade development is a limited, short-term agreement with the United Kingdom. Nuclear talks with Iran have been described as “promising,” but no formal nuclear agreement has been reached.
While it is still early in the term, the ambitious pace and scope of these objectives appear to have potentially underestimated the complexities of global diplomacy and the extent of U.S. leverage in these negotiations. Trade negotiations between the U.S. and China remain the primary focus for financial markets, particularly around issues like rare-earth materials (important to the U.S.) and technology (important to China). Trade talks in London between China and the U.S. run through Friday. The U.S. wants to see an end to export controls for rare earth elements while China wants access to jet engines and technology. While any signs of progress would generally benefit risk assets, the implications for Treasury yields are slightly more complex, as a return to the traditional “risk-on, risk-off” behavior may cap any potential downward movement in rates. A de-escalation in tensions, however, would likely support Treasury prices (and thus reduce yields) by reducing the urgency to reallocate capital away from U.S. assets. Upcoming 10- and 30-year Treasury auctions will offer a timely gauge of demand amid trade uncertainty, even as this trade-related volatility overshadows the underlying economic fundamentals. Recent economic data continues to point to a resilient U.S. labor market, but signs of potential weakness are emerging beneath the surface. Although May’s payrolls came in slightly above expectations, downward revisions to prior months and a notable uptick in jobless claims suggest the labor strength may not be as durable as it appears.
Markets will pay close attention to upcoming claims data for further clues, especially as the economic impact of the ongoing trade war remains difficult to quantify. The delayed effect of tariffs means that inflationary pressures may be pushed into the second half of the year, creating additional uncertainty about whether continued trade tensions could eventually stall employment gains and broader growth. At the same time, inflation remains the central economic narrative (domestically) this week, with CPI and PPI reports expected to show further modest increases in core prices. These developments suggest that businesses may be gradually passing higher costs onto consumers, although recent consumer surveys show inflation expectations trending slightly lower. The combination of easing inflation sentiment, lower energy costs, and temporary tariff relief has helped boost Treasury markets, particularly shorter-dated bonds, while longer maturities recovered yesterday after early declines. With no breakthrough yet in trade talks, markets remain highly sensitive to headlines and policy developments, likely holding out for more concrete direction in both monetary policy and the global economic landscape.
The NFIB Small Business Optimism Index for May led off today’s economic calendar (it improved). Later today brings Redbook same store sales, Treasury activity that will be headlined by an auction of $58 billion 3-year notes, and the New York Fed conducting a buyback in Treasuries (for cash management purposes) for up to $10 billion. Fannie Mae reported that, despite higher mortgage rates, home purchase sentiment jumped in May to its highest level since November. We begin June 10 with Agency MBS prices a few ticks (32nds) better than Monday’s close, the 2-year yielding 3.98, and the 10-year yielding 4.44 after closing yesterday at 4.48 percent.
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