Month: April 2026

Thank you to everyone who wrote to me yesterday, celebrating “420 Day,” synonymous with marijuana. Celebrate “Surprise Drug Test Day” to you all today. If you’re looking for something to celebrate tomorrow, how ‘bout a press conference with HUD Secretary Scott Turner and U.S. Federal Housing Director Bill Pulte announcing “a significant development in the U.S. housing finance system” at 12:45PM ET. Let’s hope it’s not about 50-year or assumable mortgages, or about legally pursuing someone on…

Now is a particularly powerful moment for conversations around HELOCs and home equity loan products. Demand is surging, tappable equity remains historically high, and (just as importantly) the stigma that once surrounded second liens is steadily fading as borrowers and originators alike become more educated. What used to be treated as a niche or fallback product is increasingly becoming a central pillar of how modern homeowners manage debt, liquidity, and long-term financial strategy. A big…

“Our local auctioneer has passed away. He was somewhere around 60? 65? 65? 70.” I met an auctioneer over the weekend at a social event, and I asked her, given her 30+ years of doing it, if she could gauge the economic mood or climate based on bidding activity. She replied that she’s never seen more hesitation and lack of buying interest than now. Maybe it’s a great time to buy something! War in the Middle East made oil prices go up, higher oil prices hurt world economies and stock markets…

“I got my best friend a fridge for her birthday. I can’t wait to see her face light up when she opens it.” Birthdays, and years, pass. As the United States approaches its 250th anniversary, its population is aging steadily , with the median age rising from 35.6 in 2001 to 39.4 in 2025, reflecting a broader shift driven by lower fertility rates and longer lifespans. While women still outnumber men at older ages, that gap has narrowed significantly as male mortality has declined faster, leading…

The MBA’s National Advocacy Conference in DC wrapped up this week, and any time you have a gaggle of mortgage personnel in one place, talk in the hallways inevitably turned to current market conditions. For example, servicing rights have increased in value, and MSR trading multiples are in the mid 5x range for certain cohorts (markedly higher than the 4×1 value where it was for years), depending on asset mix, recapture assumptions, and servicing execution. Servicing portfolios are being…