BBYS, HELOC Processing Products; In-Person Events Through Year End; Population Shifts Matter

This year, “Bring a Kid to Work Day” is April 23. The name seems to have shifted: I remember “Bring Your Child to Work Day.” The population of the United States also shifts, something that lenders and originators are very aware of in the primary markets, and should be aware of in the secondary markets. Companies and job creators move, for various reasons. Population migration since 2019, accelerated by the pandemic, has shifted growth toward Sun Belt states like Texas and Florida while leaving places such as California flat and several Midwestern and Southern states declining, trends that are increasingly reshaping housing demand and mortgage market dynamics. Although purchase-driven Agency MBS issuance appeared slightly higher in dollar terms last year than in 2019, the reality is far weaker when measured by loan counts, down 28 percent nationwide, while regional population shifts are also influencing mortgage prepayment behavior and issuance patterns, with faster speeds and surging specified pool activity emerging in growth markets like Florida as traditional centers such as New York lose relative influence. (Today’s podcast can be found here and this week’s ‘casts are sponsored by JazzX, the first true end-to-end AI platform built for mortgage. From application to underwriting, JazzX is a new operating model that helps you scale growth, boost productivity, and transform how your team performs. Hear an interview with Nestment’s Niles Lichtenstein on giving first-time buyers the clarity, confidence, and plan to make homeownership happen.)