Lykken on Lending

This podcast segment reviews the most impactful regulatory developments of 2025 and explains why internal audits, technology controls, and cybersecurity preparedness are critical priorities for mortgage lenders heading into 2026.

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Alice Alvey, Master CMB

Vice President Partner Education and Training at Union Home Mortgage

She 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...

This podcast segment explains why mortgage rates remain locked in a narrow range as bond market activity returns and investors shift their focus to a data-heavy economic week.

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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!

01-06-2026 Patience in 2026 Because "Tomorrow is a Long Time" 

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If tomorrow wasn't such a long time, then range trading would mean nothing to us at all.

Significant political and economic events in 2026 will affect US credit markets. Yet, expect the 10-year yield to remain between 3.70 and 5.00. Mortgage lenders should be satisfied with mortgage rates between 5.8 and 7.20.

The most considerable risk to a significant rise in mortgage rates should come from a grand bargain on national healthcare. Alternatively, the emerging US Goldilocks’ economy has rising...

This podcast segment highlights HUD’s latest report showing FHA’s strong financial position and examines how renewed affordability discussions could lead to mortgage insurance relief for borrowers in 2026.

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Adam DeSanctis, VP of Communications at Mortgage Bankers Association

As 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 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:

This podcast segment examines the true cost of mortgage technology, cutting through AI hype to explain why infrastructure, integration, governance, and accountability will define tech winners and losers in 2026.

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Allen Pollack, Tech Consultant

Allen 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 te...

This podcast segment reviews the most impactful regulatory developments of 2025 and explains why internal audits, technology controls, and cybersecurity preparedness are critical priorities for mortgage lenders heading into 2026.

------------------------------------------------------------------

Alice Alvey, Master CMB

Vice President Partner Education and Training at Union Home Mortgage

She 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...

This podcast segment explores why 2025’s “big deal” wave of mortgage mergers is only the beginning, as retirements, technology disruption, and entrepreneurial originators fuel even more consolidation—and new company startups—heading into 2026.

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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...

This podcast segment explains how a stronger-than-expected Q3 GDP report briefly moved markets, but thin holiday trading and broader context ultimately left rates and yields largely unchanged.

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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...

12-30-2025 Even Modelers Will Make "A Mistake"

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They’re gonna make a mistake

They’re gonna do it on purpose

Does it waste our time?

We all make mistakes. Modelers intentionally make mistakes to test scenarios and reveal truths not shown in official government statistics. Alternative data and models highlight the value of learning through trial and error and transparency.

The absence of the government spoon-feeding the Fed revealed the shadow modelers to a broader audience. They can gain insight...

This podcast segment covers FHFA’s newly finalized 2026–2028 housing goals for Fannie Mae and Freddie Mac, highlighting lower single-family benchmarks, a reduced low-income refinance target, and a renewed focus on sustainable access to affordable housing.

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Adam DeSanctis, VP of Communications at Mortgage Bankers Association

As 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 a world marked by polarization, misinformation, and constant noise, discerning truth has become one of the most critical leadership skills of our time. In this powerful and personal conversation, David Lykken sits down with Tom Ziglar—CEO of Ziglar, Inc. and son of legendary motivator Zig Ziglar—to explore how truth, identity, and grace-driven leadership can anchor us in uncertain times. Drawing from his father’s timeless philosophy, ancient wisdom, and real-world business leadership, Tom introduces the Truth Compass, shares stories of courageous discernment, and explains how Zig AI is helping leaders apply proven principles with clarity and confid...

In this episode of Lykken on Lending, David Lykken sits down with Matthew Marx, co-founder of Evocalize, to unpack a powerful truth emerging in today’s AI-driven mortgage landscape: local relationships still win. Recorded after the Total Expert Conference, the conversation dives into how lenders and real estate professionals can use AI to automate digital marketing, reclaim control from lead aggregators, and refocus their time on what matters most—trusted, face-to-face relationships in their communities. As industry consolidation accelerates and AI-generated content floods the market, this episode highlights why the future belongs to those who blend smart technology with auth...

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:

Mortgage lenders are investing millions in marketing technology, yet a staggering percentage of those tools go underused or completely idle. In this episode of Lykken on Lending, David Lykken sits down with James Duncan, Founder and Chief Marketing Strategist at Caelum Advisors, to unpack why MarTech adoption breaks down and what executives can do about it. Drawing from his experience leading marketing at Thrive Mortgage and Lower, James shares practical frameworks for auditing tech stacks, improving engagement, aligning tools with strategy, and turning marketing technology from “dead weight” into a true revenue driver. This conversation is a must-listen for mort...

In this episode of Lykken on Lending, David Lykken sits down with Garrett Maroon—founder of The Faithful Agent and the 210 Collective—to unpack what it truly means to build a successful business without sacrificing what matters most. As a husband, father of five, and top-producing Realtor who has closed over 650 homes entirely by referral, Garrett shares the hard-earned lessons behind creating margin, setting boundaries, and redefining success beyond income alone. Rooted in faith, family, and intentional living, this conversation challenges lenders and agents alike to ask better questions, build healthier scoreboards for success, and pursue growth that strengthens—not st...

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:

This commentary explores the growing tension between Federal Reserve policy, liquidity management, and emerging risks in the mortgage market, as panelists unpack rangebound rates, the limits of economic data, and concerns around leverage, fraud, and regulatory inconsistency. Drawing parallels to lessons from The Big Short, the discussion highlights how abundant reserves, yield-curve dynamics, and opaque policy decisions may be masking deeper systemic vulnerabilities. While optimism remains for lower rates in the years ahead, the conversation underscores the importance of discipline, transparency, and enforcement to prevent history from repeating itself in the mortgage and housing finance system.

This podcast segment explores the rise of AI-driven mortgage fraud, real-world risks from AI hallucinations, and why human-in-the-loop controls and federal AI governance are critical for lenders and vendors.

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Allen Pollack, Tech Consultant

Allen 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 te...

This podcast segment breaks down the complex reasons behind the 30–40% surge in tri-merge credit report costs, examining regulatory mandates, FICO licensing fees, bureau markups, and the challenges of creating true competition without compromising fair lending or investor confidence.

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Alice Alvey, Master CMB

Vice President Partner Education and Training at Union Home Mortgage

She 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, Int...

This podcast segment explains how jobs data, the Fed’s dot plot, and reserve management purchases kept mortgage rates rangebound while markets wait for clearer inflation and employment signals.

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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!

Consumer Direct lending is experiencing a resurgence as mortgage professionals search for more predictable, cost-effective ways to generate leads in a challenging market. In this episode of Lykken on Lending, David Lykken sits down with Tim Slavin, CEO of The Share Group, to unpack how data science is transforming consumer direct mortgage strategies. The conversation dives into why most purchased leads fail, how richer consumer, property, and mortgage datasets dramatically improve accuracy, and how lenders—from individual loan officers to large call centers—can build scalable, compliant lead funnels. Listeners will gain practical insights into data integrity, outbound dialing effi...

12-16-2025 New Bear Trend Is "Nothing from Nothing"

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Nothin' from nothin' leaves nothin'. Bears gotta have somethin' if they wanna trend to be.

EU leadership has neither money nor voters’ support to stop the US-Russia Ukrainian peace deal. US wage increases are slowing. China deflates. Germany’s growth shows green shoots but remains constrained by high energy costs.

Jobs are stagnating, while inflation components create competing narratives. The new bear trend has no momentum, while the bulls have much to prove. Nothing from nothing is nothing.

Cause bear...

This podcast segment covers key mortgage-related housing reform legislation and a new federal AI policy framework that could shape compliance, innovation, and affordability across the mortgage industry.

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Adam DeSanctis, VP of Communications at Mortgage Bankers Association

As 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 M...

Mortgage lending is undergoing a fundamental shift as technology reshapes how income and employment are verified—yet the human experience remains more important than ever. In this episode of Lykken on Lending, David Lykken sits down with Shmulik Fishman, Founder and CEO of Argyle, to explore how modern income verification is transforming underwriting, reducing friction for loan officers, and improving outcomes for borrowers. From Argyle’s origins and major institutional backing to its deep integrations across POS and LOS platforms, this conversation unpacks what true modernization looks like when automation, data accuracy, and human-centric design come together to redefine the...

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:

This podcast segment explores the real-world use of AI in mortgage lending, separating hype from value while examining automation tools, app fatigue, platform longevity, and the emerging “51st Date Syndrome” in AI adoption.

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Allen Pollack, Tech Consultant

Allen 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...

his podcast segment breaks down the complex reasons behind the 30–40% surge in tri-merge credit report costs, examining regulatory mandates, FICO licensing fees, bureau markups, and the challenges of creating true competition without compromising fair lending or investor confidence.

------------------------------------------------------------------

Alice Alvey, Master CMB

Vice President Partner Education and Training at Union Home Mortgage

She 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, Int...

This podcast segment examines why bond yields surged toward the top of their recent range despite economic data failing to clearly explain the move, highlighting the role of technicals, holiday trading, and upcoming risk events.

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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 C...

Artificial intelligence isn’t coming to the mortgage industry—it's already here, and it’s fundamentally reshaping how lenders engage past customers, manage database outreach, and scale production without sacrificing the human touch. In this episode, AI Assistants in the Mortgage Space: How Intelligent Outreach Is Rewriting the Loan Officer Playbook, David Lykken sits down with leaders from Total Expert and Assurance to unpack real-world success stories, compliance considerations, and the operational readiness required to implement AI-powered voice assistants effectively. From transforming credit trigger conversions to scheduling loan officer appointments automatically, this conversation reveals how lenders can turn AI-enabled outrea...

12-09-2025 Who's The "Lost Cause"

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Bears, you're lost; Bulls, you're lost; Maybe, you're a Lost Cause.

With bond yields moving up, Bears have an easier path to capture the trend at 4.18 than bulls in diving below 4. Does the steepening of the coupon curve suggest no recession?

According to Deutsche Bank, once the Fed begins a rate-cut cycle, the 10-year Treasury yield does not fall sustainably without the economy slipping into a recession. So, who’s the lost cause: Jobs, Fed, Bulls, or Bears? Maybe it’s lend...

This podcast segment highlights the Senate’s advancement of major housing finance nominees and reminds IMBs to register for MBA’s premier conference ahead of the Thanksgiving holiday.

-------------------------------------------------------------

Adam DeSanctis, VP of Communications at Mortgage Bankers Association

As 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 M...

In this episode of Lykken on Lending, we explore The Quantum Mindset: Resilience Lessons That Redefine Success, featuring an extraordinary story of overcoming unimaginable beginnings and rising into purpose, gratitude, and impact. Through vivid examples—bees modeling sweetness, the observer effect, and collapsing the wave of possibility—our guest shows how leaders can transform their reality by shifting perspective, reframing challenges, and embracing responsibility. Whether you’re navigating market uncertainty, organizational change, or personal transition, this conversation reveals the practical and spiritual principles behind unshakable resilience and high performance.

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:

In this wide-ranging market commentary, David Lykken, Bill, Kittle, and Alice break down why interest rates remain trapped in a tight range despite economic noise and why market reactions often have more to do with trader psychology than global fundamentals. While short-term volatility grabs headlines, the deeper issue facing today’s housing market is affordability—driven not by rates alone, but by compounding increases in homeowner’s insurance, property taxes, and other overlooked cost pressures. With insights into global bond correlations, speculative trading dynamics, and the real impact of runaway housing expenses, this segment offers a candid look at the fo...

Allen 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, in...

This podcast segment breaks down the complex reasons behind the 30–40% surge in tri-merge credit report costs, examining regulatory mandates, FICO licensing fees, bureau markups, and the challenges of creating true competition without compromising fair lending or investor confidence.

------------------------------------------------------------------

Alice Alvey, Master CMB

Vice President Partner Education and Training at Union Home Mortgage

She 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, Int...

This podcast segment explains why post-Thanksgiving rate volatility is less about Japan’s rate-hike rumors and more about normal market noise, as traders position ahead of key economic data and a Fed meeting now operating without the delayed jobs report.

-----------------------------------------------------

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...

In this powerful episode of Lykken on Lending, David Lykken sits down with social media prospecting expert and author Michelle Berman-Mikel to unpack the discipline, mindset, and daily actions that fuel real business growth in today’s noisy digital world. Drawing from her competitive swimming background and her bestselling book The Black Line, Michelle reveals how the same focus required to swim mile-long races translates into a tactical, repeatable prospecting system—one message a day, 365 days a year—that has transformed the pipelines of mortgage professionals nationwide. Michelle’s vulnerability, her faith journey, and her practical frameworks like the Drivers...

Will Anyone "Go All The Way?"

-------------------------

Buy markets know how defeat can be 'Til investors trade and say, (Singers) please, Go All the Way?

The bulls won Thanksgiving week while the bears fought valiantly. However, no one has gone all the way; no objectives have been hit, and momentum hasn't been built.

With no threats to Oil nor the Dollar, and with Europe's rulers creating and chasing economic straw men, the US can keep improving fiscal and inflation conditions. So, will the bulls keep beating the bears?

The...

This podcast segment highlights the Senate’s advancement of major housing finance nominees and reminds IMBs to register for MBA’s premier conference ahead of the Thanksgiving holiday.

-------------------------------------------------------------

Adam DeSanctis, VP of Communications at Mortgage Bankers Association

As 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 M...

In this week’s AI Update, we dive into the rapidly shifting landscape behind today’s sky-high AI valuations and explore why macroeconomic forces may be creating unseen systemic risks across the tech ecosystem. Pavan Agarwal breaks down how the unwinding of the dollar-yen trade, leveraged Bitcoin positions, and hyperscalers’ overreliance on overpriced NVIDIA hardware are converging to put pressure on companies like OpenAI—potentially triggering a broader contagion that could impact banks, data-center REITs, and long-term AI investment flows. This episode uncovers how tightly interconnected global markets, digital assets, and AI infrastructure really are—and what leaders in mortgage a...

The consumer-direct mortgage model has rapidly evolved from a niche channel to one of the most efficient and scalable strategies in today’s lending environment. In this episode, we explore the operational blueprint behind its rise—highlighting how leading DTC lenders are achieving faster turn times, dramatically lower cost-to-close, and stronger customer loyalty by balancing automation with exceptional human service. We dive into brand-driven lead acquisition, modern retention systems, technology integration, and the cultural principles that keep teams aligned and motivated. Whether you're an IMB executive, production leader, or strategist looking to modernize your organization for 2026, this conversation reveals the...

December arrives with a jolt as the mortgage industry faces a wave of new challenges—from heightened market volatility to the alarming 35–40% spike in tri-merge credit reporting costs hitting lenders across the country. In this week’s episode of Lykken on Lending, David Lykken and the expert panel unpack what’s driving rate movement, how global forces like the Bank of Japan are influencing U.S. bonds, why affordability continues to erode, and what the MBA is doing to combat unsustainable credit reporting structures. With insights from Adam DeSanctis, Les Parker, Matt Graham, Alice Alvey, David Kittle, Bill Corbett, and more...

In this week’s discussion, the Lykken on Lending team dives deep into the forces shaping today’s mortgage market, from range-bound rates to a Federal Reserve that is showing more internal division than we’ve seen since the early Greenspan era. With mixed economic signals—strong GDP, elevated unemployment readings, and stale data delayed by the shutdown—industry leaders Bill Corbett, David Kittle, Alice Alvey, and Allen Pollack break down what’s truly driving market uncertainty and why a rate cut may not be the silver bullet many are hoping for. The conversation highlights a critical truth often overlooked i...

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Allen Pollack, Tech Consultant

Allen 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 ca...

This podcast segment highlights the CFPB’s request for industry feedback on a significant ECOA interpretation change that could prevent regulators from using reverse-engineered HMDA data to allege fair lending violations when no discriminatory policy exists.

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Alice Alvey, Master CMB

Vice President Partner Education and Training at Union Home Mortgage

She 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...

This podcast segment discusses the impact of the government shutdown on economic data, how private reports are driving market volatility, and the potential consequences for bond markets as government data resumes.

-----------------------------------------------------

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!

11-24-2025 “Freddie’s Dead” Are The Bulls Dreams Dead, Too?

——————

We can deal with guesses and dreams, but in reality, what do they mean? Ain’t nothing said ’cause threat is dead.

The threat from old news on jobs is dead. The bulls and bears tested critical levels, grasping for the latest quote from a Federal Reserve member to prompt action, as if that really mattered.

The bulls have until Christmas to break through 3.94 and reach 3.80, opening the door to 3.65. Otherwise, the bears will flip the trend, with a...

This podcast segment highlights the Senate’s advancement of major housing finance nominees and reminds IMBs to register for MBA’s premier conference ahead of the Thanksgiving holiday.

-------------------------------------------------------------

Adam DeSanctis, VP of Communications at Mortgage Bankers Association

As 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 M...

In this episode, David Lykken sits down with Justin Demola, President of Lenders One, for a timely and candid discussion on the biggest forces shaping independent mortgage bankers today. From credit pricing spikes and rising regulatory scrutiny to the rapid acceleration of AI on both the sales and loan manufacturing sides, Justin offers a behind-the-scenes look at what lenders are experiencing in real time and how the Lenders One cooperative is helping its members stay profitable, compliant, and strategically positioned for the next market cycle. He also shares updates on lender consolidation trends, the explosive growth of L1 Credit...

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:

11-18-2025 Will Gov't "Car Wash" The Facts

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Bulls might not ever get rich. But markets tell them they’re digging a ditch.

With the shutdown ending, government will wash the facts and the market will spin them. Will the Bulls get out of the ditch or will the Bears bury them?

3.80 in the 10-year yield happens if the Bears fail near term. How much does it depend on the action in commodities? Copper’s rise over the last three months is stalling. Oil struggles but is rising from the bott...

This podcast segment covers recent Fannie Mae updates, including rep and warranty relief for undisclosed debts, extended credit document validity for construction loans, and a shift to a more holistic borrower risk assessment, enhancing access to credit and reducing buyback risk.

-------------------------------------------------------------

Adam DeSanctis, VP of Communications at Mortgage Bankers Association

As 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, b...

Private lending is reshaping real estate investing—and few people understand that landscape better than Chris Lemons of Creative Financing Solutions (CFS), a division born from the powerhouse leadership team at Alcova. In this episode, Chris breaks down how today’s investors are navigating fix-and-flip opportunities, why wholesalers are disrupting inventory, and what smart lenders are doing to responsibly scale private lending while revitalizing communities. From risk assessment and borrower vetting to the explosion of DSCR and rental-focused products, this conversation gives mortgage professionals and investors a front-row look into the new era of creative financing.

Top-producing loan officers are often the last to adopt transformational technology—not because they doubt the value, but because they’re already operating at full capacity. In this episode, David Lykken and Pavan Agarwal break down the psychology behind LO resistance, the J-curve problem that slows adoption, and why traditional agentic AI models struggle to deliver real-world mortgage results. Pavan introduces a radically different approach: cell-based AI, a lightweight, modular system designed to provide immediate utility, zero friction onboarding, and tokenized rewards that change the adoption equation entirely. If you're a lender or tech leader trying to get your team...

In this week’s Hot Topic, David Lykken sits down with Brian Vieaux, the newly appointed President of MISMO, for an eye-opening conversation about the future of mortgage lending. In a rare blend of industry insight and personal vulnerability, Brian shares how a life-altering family crisis reshaped his perspective just weeks before stepping into one of the most influential roles in housing finance. Together, David and Brian unpack the powerful impact MISMO has on every mortgage loan in America, the organization’s crucial work in AI standardization and regulatory alignment, and why lenders can no longer afford to overlook the...

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:

This podcast segment discusses the impact of the government shutdown on economic data, how private reports are driving market volatility, and the potential consequences for bond markets as government data resumes.

-----------------------------------------------------

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!

11-11-2025 Model Data Is “Feeling Good”

———————

It’s a new dawn. It’s a new day. It’s a new life, for facts. Data feeling good.

Using economic models to imitate government data results in moderation. Facts are messy while models are smooth. The void has also been filled with previously less public alternative data and analytics.

Upon the return of government data, a new world begins. There’ll be a recalibration to government statistical releases, and more confidence in an expanding universe of alternative data and AI-po...

This podcast segment covers recent Fannie Mae updates, including rep and warranty relief for undisclosed debts, extended credit document validity for construction loans, and a shift to a more holistic borrower risk assessment, enhancing access to credit and reducing buyback risk.

-------------------------------------------------------------

Adam DeSanctis, VP of Communications at Mortgage Bankers Association

As 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, b...

Is there really an AI bubble brewing? In this week’s AI Update, David Lykken and Pavan Agarwal dive deep into Michael Burry’s latest warning—drawing parallels to The Big Short while unpacking how today’s AI economy fundamentally differs from the 2008 mortgage meltdown. From NVIDIA’s massive chip-driven valuations to how depreciation schedules distort corporate earnings, Pavan breaks down what’s real risk, what’s market noise, and why the underlying infrastructure of AI is still a powerful long-term play. The conversation highlights what mortgage and fintech leaders should watch in OpenAI’s revenue trajectory, where corrections could emerge, an...

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:

In this thought-provoking segment of Lykken on Lending, industry leaders unpack the Fed’s “foggy” direction, the pressures lenders face from shrinking margins, and why the mortgage industry continues to repeat many of the same mistakes from past cycles. Drawing on decades of experience, voices like Bill Corbet, David Kittle, Marc Helm, and Alice Alvey tackle everything from subsidized pricing and technology inefficiencies to GSE risk and political influence, calling for renewed accountability, smarter data use, and genuine reform. It’s a candid conversation about lessons unlearned—and the resilience needed to move the industry forward.

This podcast segment explains the FinCEN rule extension on reporting non-financed real estate transactions, highlighting new compliance requirements for attorneys, realtors, and others involved in cash property deals.

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Alice Alvey, Master CMB

Vice President Partner Education and Training at Union Home Mortgage

She 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...

This podcast segment breaks down how the Fed’s decision to cut rates and end quantitative tightening left markets steady, with 10-year yields hovering near 4.1% as traders await fresh economic data following the government shutdown.

-----------------------------------------------------

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...

In this week’s AI Update, David Lykken sits down with Angel AI founder and CEO Pavan Agarwal to discuss the stunning $120 billion valuation validated by Liquid X—one of Silicon Valley’s most respected IP valuation firms. Agarwal reveals how 25 years of engineering, $100 million in personal investment, and a deep foundation in vectorized data positioned Angel AI to succeed precisely where others now admit limits to “general AI.” The conversation explores why vertical integration, intellectual property, and real-world data matter more than massive GPU farms, and how Angel AI’s architecture is reshaping the future of lending and capital mark

11-04-2025 Rates Down Time To "Paint it Black"

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Bonds see a red stat, and they want it painted black. No colors from gurus, Bonds want them to turn black.

With lenders subsidizing mortgage rates, our target of 6.125% was reached, while the 10-year yield touched 3.94%. Our bull target remains the same at 3.80 in the 10-year yield.

The declining chance of a Dec Fed cut, tame tariffs, and fiscal discipline fuel long rates downward after the mild correction ends. A move back to 6.125% in the 30-ye...

This podcast segment explains how the Mortgage Bankers Association is responding to the CFPB’s proposed open banking rule, advocating for stronger data security, consumer opt-in protections, and an end to risky screen-scraping practices.

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Adam DeSanctis, VP of Communications at Mortgage Bankers Association

As 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...

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:

This podcast segment explores AI adoption, vendor risk, data integrity, and new compliance challenges emerging from the MBA Annual Conference — plus a few surprising insights (and laughs) from the evolving world of mortgage technology.

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Allen Pollack, Tech Consultant

Allen 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 alig...

This podcast segment breaks down Freddie Mac’s new SOC 2 audit expectations, showing why lenders of all sizes must strengthen data security, internal audits, and operational controls to stay compliant and competitive.

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Alice Alvey, Master CMB

Vice President Partner Education and Training at Union Home Mortgage

She 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 tec...

This podcast segment explains how bond yields remain below 4% amid limited economic data, renewed trade tensions, and anticipation for the upcoming CPI report once government data resumes.

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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...

10-28-2025 "Walking In Rhythm" Traders and Poets Say Get A Loan

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Walking In Rhythm. Findin' no sound.

Traders and poets try to find rhythm and reason amid chaos, confusion, and calm.                                                                                                     

Falling Oil prices reduce the fear of inflation, while rising prices increase the fear of recession. With credit markets strengthening the odds of recession, generally, raises in Oil prices do not instill fear of inflation. So, rates can fall regardless if oil prices rise or fall. Mortgage payments are dropping due to home prices and rates falling.

Got to get a loan.

These views are mine. Find the Rhyth...

This podcast segment explains how the Mortgage Bankers Association is responding to the CFPB’s proposed open banking rule, advocating for stronger data security, consumer opt-in protections, and an end to risky screen-scraping practices.

-------------------------------------------------------------

Adam DeSanctis, VP of Communications at Mortgage Bankers Association

As 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...

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:

In this week's Weekly Mortgage Update commentary, David and the regulars. including Bill, David Kittle, Marc, Alice, and Allen break down the key takeaways from the MBA Annual Conference in Las Vegas.

From Les Parker’s bond forecasts and Mike Fratantoni’s modest growth projections to Marina Walsh’s profitability data, the panel explores the delicate balance between optimism and realism in today’s market. Topics include the impact of tariffs, Fed policy, profit margins, and demographic shifts shaping homeownership demand.

The conversation highlights the return of wholesale lending, the risi...

This podcast segment explores how AI is transforming mortgage technology, warning that legacy vendors risk becoming “plumbing” unless they modernize with open APIs and AI-native workflows.

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Allen Pollack, Tech Consultant

Allen 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 removi...

This podcast segment features Alice Alvey breaking down the FHFA’s 2026–2030 Strategic Plan, highlighting its focus on anti-fraud, deregulation, and housing supply — and urging lenders to provide feedback before the November 5th deadline.

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Alice Alvey, Master CMB

Vice President Partner Education and Training at Union Home Mortgage

She 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 te...

This podcast segment explains how bond yields remain below 4% amid limited economic data, renewed trade tensions, and anticipation for the upcoming CPI report once government data resumes.

-----------------------------------------------------

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...

In this week’s AI Update, David Lykken sits down with Pavan Agarwal to discuss the groundbreaking innovations driving Angel AI’s $119 billion valuation. From the rise of AI twins that communicate and transact autonomously, to the tokenization of real estate equity through blockchain, this episode unveils how the mortgage process is evolving into a seamless, AI-driven financial ecosystem. Pavan shares insights into a future where homeownership, estate planning, and financial wellness are all interconnected through secure, personalized digital platforms — redefining what it means to manage a “life contract.”

10.20.25 "Oh, Lonesome Me" Shutdown Alters Market Uncertainty

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Forget about low oil and find inflation soon. Bears thought of everything from A to Z.

Oh, Lonesome Bears.

Bonds love misery, like Federal layoffs, cheap oil, China’s exporting deflation, and Europe’s political struggles. Ironically, the absence of government statistics, due to the shutdown, reduces market uncertainty because traders become dependent on moderate model guesses

The Bulls are approaching our target of 3.80 in the 10-year yield. Can mortgages reach 6%?

Oh, Lonesome Bears

These views are mine...

This podcast segment breaks down the FHFA’s newly released 2026–2030 Strategic Plan, highlighting its focus on GSE oversight, deregulation, housing supply, and ongoing efforts to strengthen the U.S. housing finance system.

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Adam DeSanctis, VP of Communications at Mortgage Bankers Association

As 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 caree...

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:

In a breakthrough moment for mortgage technology, True and Candor have joined forces to launch the industry’s first instant income verification solution—a partnership that promises to redefine how lenders qualify borrowers. In this episode of Lykken on Lending, host David Lykken sits down with Steve Butler, CEO of True, and Ryan Edmonds, CEO of Candor, to discuss how their combined strengths—trusted data and trusted decisioning—are delivering AI-powered, insured income verification in under 60 seconds. Drawing parallels to the iconic pairing of chocolate and peanut butter, this collaboration is being hailed as the “Reese’s moment” for mortgage innov...

In this episode of Lykken on Lending, David Lykken sits down with visionary innovator Pavan Agarwal, CEO of Angel AI, to discuss how chat-based artificial intelligence and blockchain technology are revolutionizing global banking and lending. Fresh off his meetings with top financial leaders and government officials in Saudi Arabia and at the North American Blockchain Summit, Pavan shares how nations abroad are rapidly adopting AI-driven, chat-first banking systems—while many U.S. institutions risk falling behind. From achieving zero defects in federal audits to envisioning a 2030 world of 24/7 blockchain-powered homebuying, this conversation reveals why the future of finance is co...

In this episode, David and the regulars discuss the far-reaching consequences of the government’s latest moves — including the permanent elimination of HUD’s Office of Housing Counseling and the dismantling of CDFI programs under the Treasury Department. With thousands of jobs cut and key community programs shuttered, the panel explores what this means for housing access, lender liability, and the growing role of private enterprise in areas once dominated by federal support. The conversation also touches on market reactions, long-term efficiency gains, and the ethical tension between fiscal responsibility and public service.

In this thought-provoking episode of Lykken on Lending, David Lykken sits down with Ellen Petry Leanse—a neuroscience educator, former Apple and Google innovator, and bestselling author—to explore how we can put our brains to work for us instead of against us. Ellen unpacks practical neuroscience tools for self-awareness, emotional regulation, and peak performance—sharing how small daily habits like mindful breathing, reflection, and visualization can rewire our thinking for clarity and calm. From navigating stressful homebuying decisions to achieving real work-life balance, this conversation reveals how understanding your brain is the ultimate leadership and life advantage.

This podcast segment highlights the Senate’s passage of the bipartisan Road to Housing Act amid the ongoing government shutdown, a key step toward expanding housing affordability and preserving access to homeownership programs nationwide.

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Adam DeSanctis, VP of Communications at Mortgage Bankers Association

As 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...

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:

10-06-2025 It's "Natural" For Bulls To Make It

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Will Bulls hold the line?

When everyone of them have given up and given in? Tell me. Is it asinine?

Who is sillier? Ursula von der Leyen, Friedrich Merz, or Emmanuel Macron? The coalition of the willing is heading Europe’s economic quest to slay the Russian windmills in Don Quixote fashion. As a result, Europeans pay ever-higher energy costs.

Meanwhile, their folly supports lower Oil prices in the US. So, i...

This podcast segment highlights FICO’s new direct-to-lender licensing model could reshape the credit reporting landscape, cutting out the middleman and potentially lowering costs for lenders and consumers—if the implementation lives up to its promise.

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Adam DeSanctis, VP of Communications at Mortgage Bankers Association

As 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 socia...

The Texas Mortgage Bankers Association is making history once again. In this episode, David Lykken sits down with Scott Norman, President of the TMBA, to discuss how the organization is redefining what a state association can be—by becoming a destination for collaboration, innovation, and thought leadership. As the TMBA prepares to host the Texas Housing Summit at the LBJ Presidential Library in Austin, celebrating the 60th anniversary of the Housing and Urban Development Act, Scott shares the vision behind the event, the impressive lineup of national speakers, and the mission to shape the future of homeownership across America. Fr...

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:

This podcast segment highlights PennyMac’s investment in Vesta’s LOS, survey findings that non-bank lenders are leading in tech adoption and API development, and new AI-powered tools like MORI, ACEs, and Friday Harbor that are reshaping underwriting, compliance, and loan origination.

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Allen Pollack, Tech Consultant

Allen 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 h...

This podcast segment examines FHA compare ratios, the risks and rewards of outsourcing, and how smaller lenders can stay competitive by focusing on efficiency, niche products, and smart partnerships.

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Alice Alvey, Master CMB

Vice President Partner Education and Training at Union Home Mortgage

She 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 M...

09-30-2025 The Yield Dancing "Gonna Make You Sweat"

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Best Get moving music!

After the Fed ease, the 10-year yield dipped to 3.99% followed by a test of the August lows of 4.20. Mortgage rates love the slow-to-ease Fed giving them moving music.

Expect the 10-year yield to dance within a range of 4.30% to 4% without disturbing the bullish trend. Regardless, look for the bulls to find its groove again and tap dance on 3.80.

These views are mine. Catch the latest moves at TMSpotlight.com.

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Song: "...

This podcast segment unpacks the MBA’s GSE reform principles and conservatorship exit, highlighting priorities around competition, capital standards, and a federal backstop to protect the housing market.

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Adam DeSanctis, VP of Communications at Mortgage Bankers Association

As 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...

In this episode of Lykken on Lending, we dive into the art and science of building brands with Andrew McLean, the creative force behind the award-winning Angel AI identity. From his early start in advertising at just 14 years old to shaping campaigns for Disney, Citibank, and Unilever, Andrew has spent decades refining the craft of connecting people to brands in ways that inspire trust, love, and loyalty. Together with host David Lykken, Andrew reveals how empathy—not just data—drives true innovation in branding, why consistency and simplicity matter more than ever, and how Angel AI is transforming financial serv...

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: