AI, Non-QM Products; Deep Dive on AI; Morgan Stanley Interview on Risk

Odds are, anything you buy was transported using diesel fuel, the price of which has shot up after Russia banned exports of it, impacting farmers, trains, trucks… kind of nearly everything. Today is “Pie and Beer” Day in Utah, aka Pioneer Day, and having parades is costly. It was also celebrated last year, and the year before, and the year before. What were we talking about a year ago? We were interested in how FHA and VA wanted early payoffs when loans traded below par. At that point, JPMorgan Chase was very active in MBS issuance, and most banks preferred short duration products like HELOCs or ARMs while offloading 30-year MBS. There was a lot of talk about how IMBs were increasing production of non-Agency loans. Things haven’t changed too much… like Pie and Beer Day. But change is the name of the game on today’s Last Word at 10AM PT where Brian Vieaux, Kevin Peranio, Christy Soukhamneut, and Coby Hakalir break down the week's biggest market signals, agency developments, and industry storylines. The discussion focuses on what the industry got right, what it missed, and what lenders should be watching next. (Today’s podcast can be found here. This week’s ‘casts are sponsored by JazzX, the first true end-to-end AI platform built for mortgage. From application to closing, JazzX is a new operating model that helps you scale growth, boost productivity, and transform how your team performs. Today’s has an interview with Morgan Stanley’s Matthew Hornbach on identifying the risks that investors and the mortgage industry may be underestimating as the economy transitions into its next phase.)