Hedging, HELOC, Compliance Tools; IMB Costs Still $11k Per Loan; Weak Housing Numbers

Everyone is racing to bolt AI onto their lending process. QAwerk's Konstantin Klyagin says most of them are skipping the boring part that actually matters, and it's going to catch up with them. His argument: an AI agent that can't explain its own decisions isn't a shortcut; it's a liability waiting for a regulator to find it. Read on for what separates the lenders who'll survive scrutiny from those who won't. I remember when the cost to produce a loan was less than $11,000, where it is now. (More detail below.) I remember when LOs weren’t insurance counselors, trying to help clients with affordability struggles not even due to interest rates. Yes, I think that we all remember lots of things while collectively we continue to help thousands of borrowers every day. (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 close, 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 Polly’s Brandon Story on differentiators among capital markets technology providers.) Lender and Broker Software, Products, and Services What? What’s that you say? Your AML program got away? Finding out during an exam that you didn’t complete your internal AML Risk Assessment or Independent Review shows regulators you can do better! Presenting a current and updated AML Policy, a current Risk Assessment, and ongoing Independent Review are three of the pillars of an effective AML Program and demonstrate to examiners you take protecting against suspicious activity and money laundering seriously. If it’s been 12 to 18 months since your last Independent Review, it’s time to get it scheduled and Firstline Compliance wants to help. We evaluate how your AML program works in practice, identify areas that need attention before an examiner finds them for you, and provide recommendations to strengthen your program. Contact Ashley Bradford or 469-717-4232 to learn more.