18 Jul, 2025

At the end of a week with a few big ticket economic reports and unexpected headline-induced volatility, who wouldn’t like a break?  Friday’s calendar offers respite with only Consumer Sentiment and residential construction numbers.  Neither are market movers.  As such, because bonds were green overnight, they remain green as we head into the afternoon. If markets closed right now, we’d be perfectly unchanged on the week.

17 Jul, 2025

Florida real estate flipping offers profit potential due to strong population growth and diverse markets. Key strategies involve identifying undervalued properties, securing financing (cash, hard money loans), and efficient renovations. Average gross profit margins can range from 10-20%, but higher returns are possible with strategic deals. Important factors include accurate ARV (After Repair Value) assessment and managing renovation costs, which can easily exceed budget. Recent data indicates an average hold time of 6-12 months for flipped properties in Florida. Top markets include Tampa, Orlando, and Jacksonville due to relative affordability and demand. Common pitfalls involve overpaying for properties, underestimating repair costs, and failing to secure necessary permits. Understanding local market trends and building a reliable contractor network are crucial for success.

17 Jul, 2025

“I forgot to put the seat belt on my five-year-old boy this morning and as we were leaving the trailer park, somebody shouted, ‘You’re an irresponsible father!’ I yelled, “Who the hell said that?! Stop the car, son!’” Lenders know that not all manufactured homes are trailers, and in fact there are some great MHs out there. In a few weeks I head to Michigan for the MMLA conference. It turns out that that over 25 percent of manufactured homes in Michigan are owned by private equity or similar entities per the Private Equity Manufactured Housing Tracker. In 2020 and 2021, they accounted for 23 percent of all manufactured home purchases, up from 13 percent between 2017 and 2019. Housing market trends will be discussed in today’s The Big Picture will start at 11:15AM PT, with Pete Mills from the Mortgage Bankers Association also discussing upcoming policy developments, GSE reform and the MBS guarantee, and what the MBA is watching. (Today’s podcast can be found here and this week’s are sponsored by Ocrolus. Ocrolus is transforming the mortgage industry with AI-powered data and analytics, featuring cutting-edge tools for automated indexing, income analysis, and discrepancy insights that empower underwriters to make timely, confident lending decisions. Hear an interview with Garrett, McAuley & Co.’s Joe Garrett on the future of mortgage commissions, debating whether automation, shrinking margins, and smarter underwriting tools will make 100-basis points payouts a thing of the past.)

17 Jul, 2025

“I forgot to put the seat belt on my five-year-old boy this morning and as we were leaving the trailer park, somebody shouted, ‘You’re an irresponsible father!’ I yelled, “Who the hell said that?! Stop the car, son!’” Lenders know that not all manufactured homes are trailers, and in fact there are some great MHs out there. In a few weeks I head to Michigan for the MMLA conference. It turns out that that over 25 percent of manufactured homes in Michigan are owned by private equity or similar entities per the Private Equity Manufactured Housing Tracker. In 2020 and 2021, they accounted for 23 percent of all manufactured home purchases, up from 13 percent between 2017 and 2019. Housing market trends will be discussed in today’s The Big Picture will start at 11:15AM PT, with Pete Mills from the Mortgage Bankers Association also discussing upcoming policy developments, GSE reform and the MBS guarantee, and what the MBA is watching. (Today’s podcast can be found here and this week’s are sponsored by Ocrolus. Ocrolus is transforming the mortgage industry with AI-powered data and analytics, featuring cutting-edge tools for automated indexing, income analysis, and discrepancy insights that empower underwriters to make timely, confident lending decisions. Hear an interview with Garrett, McAuley & Co.’s Joe Garrett on the future of mortgage commissions, debating whether automation, shrinking margins, and smarter underwriting tools will make 100-basis points payouts a thing of the past.)

17 Jul, 2025

“I forgot to put the seat belt on my five-year-old boy this morning and as we were leaving the trailer park, somebody shouted, ‘You’re an irresponsible father!’ I yelled, “Who the hell said that?! Stop the car, son!’” Lenders know that not all manufactured homes are trailers, and in fact there are some great MHs out there. In a few weeks I head to Michigan for the MMLA conference. It turns out that that over 25 percent of manufactured homes in Michigan are owned by private equity or similar entities per the Private Equity Manufactured Housing Tracker. In 2020 and 2021, they accounted for 23 percent of all manufactured home purchases, up from 13 percent between 2017 and 2019. Housing market trends will be discussed in today’s The Big Picture will start at 11:15AM PT, with Pete Mills from the Mortgage Bankers Association also discussing upcoming policy developments, GSE reform and the MBS guarantee, and what the MBA is watching. (Today’s podcast can be found here and this week’s are sponsored by Ocrolus. Ocrolus is transforming the mortgage industry with AI-powered data and analytics, featuring cutting-edge tools for automated indexing, income analysis, and discrepancy insights that empower underwriters to make timely, confident lending decisions. Hear an interview with Garrett, McAuley & Co.’s Joe Garrett on the future of mortgage commissions, debating whether automation, shrinking margins, and smarter underwriting tools will make 100-basis points payouts a thing of the past.)

16 Jul, 2025

Florida’s real estate market faces uncertainty. While prices rose significantly during the pandemic, fueled by migration and low interest rates, experts predict a potential slowdown. Inventory remains low in many areas, but rising mortgage rates are impacting affordability and demand.

Key Facts & Figures:

* Median home prices in Florida increased substantially from 2020-2023.
* Rising interest rates (above 7% as of late 2023) are cooling buyer demand.
* Inventory levels are still below pre-pandemic norms, but are increasing in some markets.
* Property insurance costs are a significant concern, deterring some buyers.
* Migration to Florida, while still positive, has slowed compared to peak pandemic years.
* Some experts predict price stabilization or modest corrections in specific areas, while others forecast continued, albeit slower, growth.
* Affordability is a major challenge, especially for first-time homebuyers.

16 Jul, 2025

JPMorgan told FinTechs that it will charge for access to its customers’ bank information. The fees would bring big bucks to JPMorgan but eat into the profit margin of any lender or credit reporting agency or verification service. Will this become a trend with other depositories? Lenders and their originators, along with MBS investors, carefully watch trends in income and individuals. The gig economy, driven by on-demand work and services like rideshares and food delivery, is a growing part of the U.S. economy and primarily consists of sole proprietorships tracked by the U.S. Census Bureau’s Non-employer Statistics (NES) program. In 2023, the top five gig-related industries by number of individual proprietors were Couriers and Messengers, Taxi and Limousine Services, Janitorial Services, Independent Artists/Writers/Performers, and Child Care Services, all showing notable growth from 2018 figures. While not all non-employer businesses are part of the gig economy, these industries highlight the increasing prevalence and economic significance of gig-based work. Back to JPMorgan, some lenders are doing well, at least in the big bank world. JPMorgan reported that mortgage origination volume increased 26 percent YOY to $13.5 billion. Despite the jump in volume, production income actually fell, from $157 million to $151 million, but this was offset by an increase in servicing income. Wells Fargo clocked in at $7.4 billion in the quarter versus $5.3 billion for the second quarter last year. (Today’s podcast can be found here and this week’s are sponsored by Ocrolus. Ocrolus is transforming the mortgage industry with AI-powered data and analytics, featuring cutting-edge tools for automated indexing, income analysis, and discrepancy insights that empower underwriters to make timely, confident lending decisions. Hear an interview with Curinos’ Ken Flaherty and Rich Martin on key opportunities for lenders to attract, retain, and grow more profitable customer relationships, across both first mortgages and home equity products.)

15 Jul, 2025

Professional real estate photography significantly impacts sales speed in Florida. Listings with professional photos sell 32% faster than those without (RISMedia). Homes with high-quality images receive 61% more views (REDFin). 87% of homebuyers find photos among the most useful features when searching online (National Association of REALTORS). Properties with professional photographs can command a 47% higher asking price per square foot (IMOTO). Drone photography and videography are increasingly popular, providing unique perspectives that attract buyers, especially for waterfront or larger properties, with listings featuring drone footage experiencing a 68% increase in click-through rates (MLS statistics). Staging is crucial, as staged homes photographed professionally sell up to 73% faster than non-staged counterparts.

15 Jul, 2025

Here’s a cool password: 2 444 66666 8888888 9. (You can figure it out.) I’m no IT wizard, but some are. Do you want AI to open your emails and create drafts for you to reply to them? Fyxer does exactly that. Goldman Sachs is piloting an autonomous software engineer, Devin, from AI startup Cognition, marking a significant advancement in AI integration. Devin, capable of handling complex tasks with minimal human intervention, could soon join Goldman’s 12,000 developers, potentially scaling to thousands of AI engineers depending on use cases. I didn’t make the cut for Facebook, uh, Meta’s new “Meta Superintelligence Labs” group with their salaries in the eight-figure range. (For those of you who think in basis points, that’s north of $10,000,000 out of Mark Zuckerberg.) But everything isn’t peaches and cream. You have stories like, “OpenAI Hits the Panic Button.” While AI governance is a growing concern for financial services leaders, two recent surveys suggest there might be a knowledge and strategy gap at the board level. Nasdaq’s most recent Global Governance Pulse survey notes that board members were asked which skills and experience would expand their board’s composition and ensure alignment to the organization’s strategy, artificial intelligence and machine learning topped the list, according to. (Today’s podcast can be found here and this week’s are sponsored by Ocrolus. Ocrolus is transforming the mortgage industry with AI-powered data and analytics, featuring cutting-edge tools for automated indexing, income analysis, and discrepancy insights that empower underwriters to make timely, confident lending decisions. Hear an interview with Ocrolus’ Rebecca Seward on how Ocrolus is redefining mortgage underwriting with its Inspect platform, enabling real-time condition creation and automated loan reviews to improve quality, reduce costs, and streamline operations for lenders of all sizes.)

15 Jul, 2025

Here’s a cool password: 2 444 66666 8888888 9. (You can figure it out.) I’m no IT wizard, but some are. Do you want AI to open your emails and create drafts for you to reply to them? Fyxer does exactly that. Goldman Sachs is piloting an autonomous software engineer, Devin, from AI startup Cognition, marking a significant advancement in AI integration. Devin, capable of handling complex tasks with minimal human intervention, could soon join Goldman’s 12,000 developers, potentially scaling to thousands of AI engineers depending on use cases. I didn’t make the cut for Facebook, uh, Meta’s new “Meta Superintelligence Labs” group with their salaries in the eight-figure range. (For those of you who think in basis points, that’s north of $10,000,000 out of Mark Zuckerberg.) But everything isn’t peaches and cream. You have stories like, “OpenAI Hits the Panic Button.” While AI governance is a growing concern for financial services leaders, two recent surveys suggest there might be a knowledge and strategy gap at the board level. Nasdaq’s most recent Global Governance Pulse survey notes that board members were asked which skills and experience would expand their board’s composition and ensure alignment to the organization’s strategy, artificial intelligence and machine learning topped the list, according to. (Today’s podcast can be found here and this week’s are sponsored by Ocrolus. Ocrolus is transforming the mortgage industry with AI-powered data and analytics, featuring cutting-edge tools for automated indexing, income analysis, and discrepancy insights that empower underwriters to make timely, confident lending decisions. Hear an interview with Ocrolus’ Rebecca Seward on how Ocrolus is redefining mortgage underwriting with its Inspect platform, enabling real-time condition creation and automated loan reviews to improve quality, reduce costs, and streamline operations for lenders of all sizes.)