In Spain, Spaniards are shooting water pistols at foreigners to protest the impact of mass tourism: it has created a housing crunch. Tourism in the United States is down considerably, especially from Canada, impacting the economy here on Oahu and in other locations. But in the U.S. the inventory of properties for sale is increasing, and the market has turned for buyers at the expense of sellers. New listings rose 5.2 percent YOY, active inventory is up almost 28 percent year-over-year, days on the market have increased by 6 days, but home prices are essentially flat. Sellers at the lower end aren’t budging… yet. At the higher end, LOs tell me that the market feels “heavy.” (Today’s podcast can be found here and this week’s is sponsored by TRUE. TRUE cuts time to critical loan events from days to minutes by using background AI workers to instantly validate data and automate underwriting decisions. Today’s has an interview with SALT Lending’s Shawn Owen on how digital assets like Bitcoin are reshaping mortgage lending, from collateral risk and fraud prevention to construction financing, regulatory hurdles, and the future of tokenized mortgage markets.)
Products, Software, and Services for Brokers and Lenders
“Is your loan servicing operation overwhelmed by fragmented and manual processes, inconsistent action handling, or compliance blind spots? In our latest blog, ‘From Chaos to Clarity: How Workflow Transforms Loan Servicing Operations,’ we explore how intelligent automation can help you streamline and automate complexity, improve compliance, and respond faster to borrower needs. Discover six powerful ways workflow enhances standardization, efficiency, visibility, accountability, data use, and the user experience—each brought to life through real-world servicing scenarios. Learn how organizations like yours are eliminating manual errors, accelerating response times, and simplifying complex decisioning with intelligent workflow automation. If you’re looking to reduce the risk and costs of single-point solutions, improve consistency, and stay ahead in a rapidly changing industry, this blog is a must-read. See how organizations are achieving these outcomes with the help of a flexible, proven solution like CLARIFIRE®.”
The loan boarding process remains one of the most complex and error-prone tasks for both lenders and servicers. Manual operations often lead to data inconsistencies, delays, and increased costs, with post-boarding audits adding further inefficiencies. A powerful integration between ICE’s Encompass® LOS and MSP® loan servicing system presents back-office teams only with exceptions that need their attention, letting them focus on resolving urgent issues instead of stare-and-compare on the smallest of details in every loan. This automated solution can help reduce manual touchpoints, improve data accuracy and lower operational costs. Read the blog to explore how this end-to-end integration is helping to solve the long-standing challenges around loan boarding.
Reduce time and cost and streamline the MSR transaction process. Are you looking to buy or sell mortgage servicing rights (MSR)? Discover ServiceMac’s newly launched MSR platform – ServiceMac Exchange (SMX). The exchange connects MSR buyers and sellers using a sophisticated pricing engine to provide sellers with loan-level pricing within minutes. The ServiceMac team manages the back-office resources, so the seller experiences a streamlined single counterparty relationship. And because ServiceMac principals the transactions and services the loans, borrower’s experience a consistent customer journey. Benefits include efficient transfer and post-closing process, counterparty management, legal, settlement services, document management, subservicing, and more. Click now to learn more about how SMX provides frictionless pricing and transfer, coupled with confidence and compliance.
Originators know the challenge. Staying in front of past clients is key, but digging through old loans and spreadsheets? That’s not exactly time well spent. With Fannie Mae's May forecast projecting mortgage rates could fall to 6.1 percent by year-end, the window for refinance opportunity may be opening wider than expected. Capture for Originators, available to Optimal Blue® PPE users, helps you seize those opportunities by automatically analyzing your entire portfolio and surfacing recapture opportunities. No spreadsheets. No manual data pulls. Just a streamlined experience powered by innovation that delivers for your bottom line. By automatically factoring in lender fees and current pricing from the Optimal Blue PPE, it helps you act quickly and deliver personalized offers with confidence. A better way to recapture. A smarter way to build loyalty. Turn missed opportunities into measurable wins with Capture for Originators.
Have you ever tried assembling IKEA furniture without instructions? You get halfway through and realize something’s upside down. That’s what onboarding a borrower can feel like when your tech stack isn’t built to guide the process. Tropos changes that. For mortgage ops teams, it’s like trading that awkward little Allen wrench and cryptic diagrams for tools and instructions borrowers can actually understand the first time. Your team always knows where they are in the process. If you’re the one fielding endless “What happens now?” emails, this is your sign: there’s a better way. Tropos takes the guesswork out of lending and puts everyone on the same page. Build a better borrower experience with Tropos.
“Pricing, Tech, Underwriting… Oh My! AFR is pulling out all the stops to help you win more business this summer. We’re offering red-hot pricing on Conventional loans, with a special focus on Non-Owner Occupied and loan amounts under $350K. It’s the perfect time to help clients maximize affordability and take advantage of competitive investment opportunities in mainstream lending. But that’s just the beginning. AFR continues to invest in tech that makes your job easier. Our latest release includes the ability to fully edit the 1003, Putting more control in your hands. And to top it off, we’ve restructured our underwriting teams to deliver faster response times and shorter turn times, meaning quicker closings and happier borrowers. From pricing to process, AFR is focused on making your experience smoother, faster, and more consistent. Reach out to your AFR Account Executive, visit afrwholesale.com, 1-800-375-6071 or sales@afrwholesale.com. Conventional. Affordable. Efficient. (NMLS 2826)”
Total Expert's Integrated Design Studio, powered by MAXA, brings the convenience and usability of point-and-click design tools to financial services organizations. Now, anyone can create compelling, compliant, branded marketing materials with a design suite that’s purpose-built for modern lenders. Unlike horizontal solutions that lack the ability to pull in dynamic, data-rich content, Integrated Design Studio gives enterprise designers and administrators the ability to create and manage pre-built templates that sales and marketing teams can personalize to better engage with customers while ensuring brand and regulatory compliance. With the ability to upload InDesign files, lock down specific template elements, and quickly package files for print or direct mail campaigns, Total Expert makes it easy for distributed teams to create the collateral they need without worrying that they’re violating brand or regulatory compliance. Learn more here.
Brian Vieaux: Why LOs Should Care About MISMO
Over the weekend I received an “MLO VieauxPoint” from Brian Vieaux, CMB, President & COO of FinLocker & Founding ‘Expert’ of MLO Live. “Last week I attended the MISMO Summit in Boston, a gathering of the industry's best minds shaping the standards behind mortgage technology and data. But one thing was glaringly obvious: There were virtually no Mortgage Loan Officers in the room. And here's the kicker: Most Loan Officers I know don’t even know what MISMO is, let alone how it impacts their pipeline every single day.
“Loan originators need to know what MISMO is. MISMO is the real estate industry's standards organization. Think: applications, verifications, disclosures, closings, servicing, all of it. MISMO helps ensure systems speak the same language. When technology ‘breaks,’ when systems don’t talk to each other, or when data doesn’t flow cleanly, it’s often because someone ignored MISMO. If you’re frustrated with clunky tools, poor integrations, or triple-entry nightmares, the fix starts here.
“MLOs can become curious. Ask your tech partners and operations teams if they follow MISMO standards. Everyone and anyone has a seat at the table. Get involved. MISMO needs practitioner input, people who actually work with borrowers. That’s us. Get ahead. Understanding this gives you a seat at the table as AI, digital mortgage, and new platforms reshape our future.
“The mortgage of tomorrow is being coded today, and if we’re not in the room, we don’t get a say. Attend an upcoming Get to Know MISMO webinar. Shoot me an email if you have questions.” Thank you, Brian.
Emerging Risks in Mortgage Compliance
On today's episode of Mortgage Law Today at 12pm PT, Brian Levy, Joshua Weinberg, Troy Garris, and Peter Idziak will cover emerging risks in mortgage compliance, including potential changes to Loan Officer Compensation and current market practices like builder forward commitments and interested party contributions. They will also examine the unique role of attorneys in Texas mortgage transactions and the regulatory implications of the recent Townstone ruling.
Training, Webcasts, and Events This Week
Every conference has an LTV ratio: the percent of “Lenders to Vendors.” Cutting edge mortgage stats aside, a good place for longer term conference planning is to start is here for in-person events in the future; and organizers can post their event!
On today's episode of MortgagePros411 at 11am PT, Audrey Boissonou and Kevin Casey will be joined by Kue Lee, Director of Targeted Outreach at California’s DFPI, to explore how scam prevention and financial literacy are shaping the future of responsible lending. With insights from his extensive background in public service and consumer protection, Kue will share practical strategies to help mortgage professionals safeguard their clients and stay compliant.
The MBA of Eastern PA is hosting a summer party called Trifecta on June 17 in Conshohocken, PA for anyone in the Pennsylvania housing industry: mortgage, real estate, title, and builders. Click here to register now!
CLA’s complimentary webinar, Tuesday June 17, 11 a.m. – noon CT, provides insights to help bank leaders prepare and address additional FDICIA requirements as your bank grows and crosses the $500 million or $1 billion asset thresholds. Webinar will cover key impacts including changes in audit committee composition, audit and reporting requirements, and compliance with internal control documentation and testing standards.
Join Freddie Mac on June 17 at 11:00 AM in Pacific Time to learn about DPA One® and see first-hand how this innovative, centralized resource tool is leading the way in helping housing professionals match borrowers to down payment assistance options.
Looking for more in-depth commentary on weekly mortgage news? Register here for Wednesday the 18th at 11AM PT "Mortgage Matters: The Weekly Roundup” presented by Lenders One.
Ever wonder how to qualify a borrower who earns fluctuating income? Join NAMB & Freddie Mac for a free webinar, “Underwriting Fluctuating Income,” scheduled for Wednesday, June 18, 2025, at 2pm ET. In this free webinar, take a close look at how to document fluctuating income, calculation methods, and discuss when it may be necessary to obtain additional documentation to support the income used to qualify.
Join TMBA in welcoming Ed Peace, Loan & Finance Analyst with the Lender & Partner Activities Division of the USDA, on June 18, at 11:30am CDT, for an exclusive USDA training webinar. Elevate your expertise in USDA loan programs. This session will equip you with the knowledge and tools to navigate the USDA loan process with confidence.
Join MBA St. Louis at the MBA event on Wednesday, June 18th, 10:00 AM to 12:00 PM for a special Strategy Lab session focused on building and marketing your personal brand as a mortgage professional. Walk away with clear, actionable steps to stand out and grow your visibility.
Housing, Humor & Headwinds—What’s Elliot Thinking? Join CoAMP and Elliot Eisenberg, the Bowtie Economist, for a virtual economic update, Thursday, June 19th at 10am. Cost: $35; Future Member is $95, which includes a one-year membership to CoAMP.
Thursday will be another episode of The Big Picture at 3PM ET. Rich Swerbinsky hosts a variety of guests. You can click here to register for Thursday’s show which features James Dwiggins, CEO of NextHome, Inc.
On Friday’s episode of Last Word at 10am PT, hosts Brian Vieaux, Christy Soukhamneut, Courtney Thompson, and Kevin Peranio explore recent shifts in the mortgage market, focusing on the spate of economic news that has hit the market and the latest out of the Agencies.
Capital Markets
Markets were relatively subdued to open the week, despite a swirl of global headlines. With few major economic data releases, much of the market's focus shifted to geopolitical developments and upcoming Fed policy. Stronger-than-expected retail sales from China and Iran’s reported efforts to negotiate a ceasefire with Israel drew investor attention, though the reaction was muted. Domestically, a weaker-than-anticipated Empire State Manufacturing Survey for June initially hurt investor sentiment, but there was some reassurance in the form of a 20-year Treasury bond auction that drew decent demand. The end result? A curve-steepening trade that saw more weakness in long-term Treasury yields than short-term ones.
All eyes now turn to today and tomorrow’s Federal Open Market Committee (FOMC) meeting, where policymakers are widely expected to hold rates steady. With the federal funds target already viewed as being in a “good place” (at least that is what has been inferred via public comments from FOMC members), the Fed is likely to repeat its cautious stance: emphasizing patience while it assesses how tariffs, tax policies, and global uncertainties affect the U.S. economy. Fed funds futures are pricing in near-certainty that rates will remain unchanged, and with the dollar weakening slightly, inflation staying persistent, and no major shocks to global energy supplies, there’s little urgency for the Fed to adjust course at this time.
Today’s economic calendar is fairly full between economic releases and Treasury supply. We’ve already received import and export prices (import prices were flat) and retail sales (-.9 percent; ex-auto & gas -.1 percent), both for May. Later today brings industrial production and capacity utilization for May, business inventories for April, homebuilder sentiment for June, and Treasury activity that will be headlined by $23 billion reopened 5-year TIPS and a buyback in 7- to 10-year coupons for up to $4 billion, Prior to the first day of the FOMC’s two-day meeting getting underway, the Bank of Japan will announce its monetary policy decision. We begin Tuesday with Agency MBS prices better than Monday’s close by .125-.250 depending on maturity and coupon, the 2-year yielding 3.93, and the 10-year yielding 4.40 after closing yesterday at 4.46 percent.
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