Lykken On Lending

08/23/2024

In this episode, David Lykken sits down with Pavan Agarwal, Founder and CEO of SunWest Mortgage. He is also the visionary behind Angel AI. A pioneer in AI-driven mortgage solutions, they discuss the latest developments in artificial intelligence and its impact on the mortgage industry. They delve into a newly published article that highlights the inherent biases found in large language models (LLMs) like ChatGPT, particularly in lending decisions. Pavan provides an in-depth analysis of how Angel AI, built on a different architectural foundation, overcomes these challenges to ensure fair and unbiased mortgage decisions. Tune in as they explore the critical differences between various AI technologies and the future of fair lending in a rapidly evolving landscape.

In this episode, David Lykken and Pavan Agarwal, Founder and CEO of SunWest Mortgage. He is also the visionary behind Angel AI discusses the challenges of bias in AI-driven mortgage decisions and how Angel AI addresses these issues to ensure fair lending.

07/04/2024

Wishing everyone a blessed Independence Day.
A friend of mine sent me this video which I’ve seen years ago, but it seems appropriate to post and share with you on this special day.

Robin Williams as the America Flag " i love liberty " for more info, please go http://goodnewsplanet.com/

06/26/2024

I would like to share the devotion that Toby Harris shared with me this morning. Here it is…

“So we fix our eyes not on what is seen, but on what is unseen, since what is seen is temporary, but what is unseen is eternal” (2 Corinthians 4:18).

Every time I read this verse I temember Peter, the seminary student. Peter was a 28-year-old seminary student, training for the ministry, when he learned that he had cancer. He felt frail, weak and was struggling to cope with his situation when his wife and some friends took him to a mountain lake to spend the day. The mountain and the lake were beautiful. His wife went to make reservations for them to return. The cabins were booked well in advance and the earliest available reservations were for the next year.

While she was making the reservations he wandered down by the lake. His friend walked up and asked what he was thinking. “It’s just not fair,” he said, “This mountain, these forests and this lake have been here thousands of years. They will be here next year and I will not be. My wife is making reservations to come back here in one year and I will not be with her.”

And, he did not come back with his wife the next year. He was alive and with her, but the mountain was not there. It was Mount Saint Helens. That year it blew up and the top of the mountain, the lake and the idyllic cabin were gone.

We so often think that the things around us are permanent and we are temporary. That is not true! All the things around us are temporary and we are eternal.

02/13/2024

The Lykken on Lending program will feature our Weekly Mortgage Updates with Adam DeSanctis and his MBA Mortgage Minute, and then Les Parker’s TMSpotlight, a macroeconomic perspective on the economy with a music parody. That leads to Matt Graham of MBS Live providing you a rate & market update, followed by David Kittle, Chief Executive Officer @ Cypress Mortgage Capital, to discuss mortgage originations. Then we have Alice Alvey of Union Home providing a regulatory & legislative update, then Allen Pollack giving us a Tech Report on the latest technology impacting our industry. Finally, we wrap up the first half of the program with Marc Helm, Senior Executive Partner @ Transformational Mortgage Solutions, talking about Loan Servicing and the “Agencies”.

FacebookTwitterLinkedIn Show notes: TMSpotlight: 2.12.24 Fed Gives Bears “Just What I (They) Needed” ————————– I don’t mind correcting here, waiting all the time.Bonds are waiting for the Fed to see inflation crashing down. Massive US debt supports global bank reserves but we...

02/07/2024

Succeeding in the mortgage industry in 2024, like in any other year, requires a combination of industry knowledge, adaptability, excellent customer service, and a keen understanding of market trends. One of the top producers in the industry is sharing his knowledge on what it takes to succeed this year. Alec Hanson, Chief Marketing Officer of Loan Depot is with David Lykken today to discuss this.

Alec Hanson, Chief Marketing Officer of Loan Depot discussed what it takes to succeed. He shared some things that will help get business.

02/06/2024

The Lykken on Lending program will feature our Weekly Mortgage Updates with Adam DeSanctis and his MBA Mortgage Minute, and then Les Parker’s TMSpotlight, a macroeconomic perspective on the economy with a music parody. That leads to Matt Graham of MBS Live providing you a rate & market update, followed by David Kittle, Chief Executive Officer @ Cypress Mortgage Capital, to discuss mortgage originations. Then we have Alice Alvey of Union Home providing a regulatory & legislative update, then Allen Pollack giving us a Tech Report on the latest technology impacting our industry. Finally, we wrap up the first half of the program with Marc Helm, Senior Executive Partner @ Transformational Mortgage Solutions, talking about Loan Servicing and the “Agencies”.

FacebookTwitterLinkedIn Show notes: TMSpotlight: 2.05.24 When Does A “Zombie” Stop Fighting?————————Another model’s breakingHard to take it over. The Fed is finished raising rates, yet the fight between the Bond market and the Federal Reserve continues. Bonds see data showing s...

02/01/2024

The mortgage industry, traditionally viewed as conservative and paper-heavy, is undergoing a transformative shift. The catalyst? Technology. In an era where efficiency and customer experience are paramount, mortgage technology emerges as a game-changer, offering a plethora of benefits to lenders. One of the most significant impacts of technology in mortgage lending is process automation. Tasks that once required days, such as underwriting and document verification, are now accomplished in a fraction of the time. This efficiency not only accelerates the loan approval process but also minimizes human error, ensuring a smoother, more reliable path from application to approval. Our guest today, Erin Dee of LoanPeople shares her journey and how mortgage technology is helping her in getting more business.

Erin Dee, COO of Loan People shares her journey and the benefits of having mortgage technology helping her to get more business.

01/31/2024

The real estate industry is no stranger to technological advancements, and the integration of artificial intelligence (AI) is taking it to new heights. AI in real estate appraisal is transforming the way properties are valued, enhancing accuracy, speed, and efficiency. With the ability to analyze vast amounts of data and make predictions based on sophisticated algorithms, AI is poised to revolutionize the appraisal process, benefiting both appraisers and property owners. Today we have Allan Weiss, CEO and Founder of Weiss Analytics. They created Automated Valuation Models to estimate property value without the need for a human appraiser and it automates property valuation report.

Allan Weiss, Co-Founder of the Case-Schiller index shares about how their AVM has the most accurate property valuation.

01/30/2024

The Lykken on Lending program will feature our Weekly Mortgage Updates with Adam DeSanctis and his MBA Mortgage Minute, and then Les Parker’s TMSpotlight, a macroeconomic perspective on the economy with a music parody. That leads to Matt Graham of MBS Live providing you a rate & market update, followed by David Kittle, Chief Executive Officer @ Cypress Mortgage Capital, to discuss mortgage originations. Then we have Alice Alvey of Union Home providing a regulatory & legislative update, then Allen Pollack giving us a Tech Report on the latest technology impacting our industry. Finally, we wrap up the first half of the program with Marc Helm, Senior Executive Partner @ Transformational Mortgage Solutions, talking about Loan Servicing and the “Agencies”.

FacebookTwitterLinkedIn Show notes: TMSpotlight: 1.29.24 “Break The Rules” To Break The Ice Jam—————————-Erratic buysBlow our mindsBears feel alright What does mechanical trading, dipping volatility, and bubbling crude tell us? Short-term Treasuries are losing hope in a March e...

01/22/2024

Show notes:
TMSpotlight:
1.22.24 It’s A “Love Story” If Buyers Say Yes!
————————
Bonds got tired of waiting.
Wondering if Jay was ever coming around.

Did the Bond buyers buy on Friday? Happy consumers bought by draining savings and using credit cards earlier in the week. Where did the new era of frugality go?

Will the Fed reduce its selling of Treasuries (Quantitative tightening) to avoid liquidity problems? Would such action increase inflation and create wild moves like the spring 2020? Is the Fed Romeo and Bonds Juliet?

Don’t be afraid. Jay will get out of this mess. It’s a Love Story; buyers, just say yes.
————————
Song: Love Story (2008) Taylor Swift
https://www.youtube.com/watch?v=8xg3vE8Ie_E

Legislative Update:
Link to VA ANPR – https://www.federalregister.gov/documents/2023/12/11/2023-27068/loan-guaranty-minimum-property-requirements-for-va-guaranteed-and-direct-loans

The Lykken on Lending program will feature our Weekly Mortgage Updates with Adam DeSanctis and his MBA Mortgage Minute, and then Les Parker’s TMSpotlight, a macroeconomic perspective on the economy with a music parody. That leads to Matt Graham of MBS Live providing you a rate & market update, followed by David Kittle, Chief Executive Officer @ Cypress Mortgage Capital, to discuss mortgage originations. Then we have Alice Alvey of Union Home providing a regulatory & legislative update, then Allen Pollack giving us a Tech Report on the latest technology impacting our industry. Finally, we wrap up the first half of the program with Marc Helm, Senior Executive Partner @ Transformational Mortgage Solutions, talking about Loan Servicing and the “Agencies”.

Weekly Mortgage Update with regulars providing their segments plus recording with Bill Cosgrove and Alice Alvey of Union Home Mortgage honoring David H. Stevens

01/19/2024

The world of mortgage finance and housing policy is mourning the loss of an amazing iconic leader and friend with the passing of David H. Stevens. As we reflect on his remarkable career, we celebrate his profound impact on the mortgage industry and his enduring legacy. I can think of no better way to honor and remember David, than to listen to the attached interview with David that I had the privilege and honor of recording on June 27th, 2017. In this interview, you will hear David share how he started his career in mortgage lending, his journey and accession to serving in the White House, and most importantly his thoughts on leadership and what influenced him in his journey to become the leader he was and his thoughts about the future of our industry. He transparently talked about how he dealt with cancer. It is inspirational. What comes through in this interview is his passion and dedication serve as an inspiration to those who follow in his footsteps. Even though David is no longer with us, his impact on each of our lives and the housing sector will endure, reminding us all of the profound difference one person can make in the lives of many. I hope you will take the time to listen and share this interview as a tribute to our friend, David Stevens.

This is a tribute to a friend and iconic industry leader of David H. Stevens, former FHA and CEO of Mortgage Bankers of America.

01/17/2024

The “Buy Before You Sell” solution for mortgages is a strategy that allows homeowners to purchase a new home before selling their current one. This can be particularly useful in a competitive real estate market where finding a new home might be challenging, or when homeowners do not want to rush the sale of their current property. Calque, is a company that is doing this and today we have their CEO at our podcast – Jeremy Foster to share the benefits of their BBYS solution and Amy Smith of Alcova Mortgage to give testimonial on how Calque has helped their business.

Jeremy Foster of Calque and Amy Smith of Alcova Mortgage joined David Lykken to discuss Calque's BBYS solution and how it helped Alcova Mortgage get more business.

01/11/2024

The Borrower’s Intelligence Platform is ushering in a new era in lending, where data-driven insights are at the forefront of decision-making. This technology not only benefits lenders by reducing risk and improving efficiency but also empowers borrowers by expanding access to credit and providing more personalized loan options. As the lending industry continues to evolve, BIP will play a crucial role in shaping its future. It is a powerful tool that combines the best of data analytics and lending practices to create a win-win situation for both lenders and borrowers. Richard Harris of Trust Engine is here with us today to share how their BIP solution helps lenders get a superior funnel performance and monitors their database to anticipate borrowers’ needs.

Richard Harris of Trust Engine joined David Lykken and discussed about Borrowers Intelligence Platform and how it will help lenders.

12/25/2023

Stephen Phelan, Chief Pastoral Officer of Movement Mortgage joined David for the Christmas special release of Lykken on Lending to discuss about Movement’s story about loving and valuing their people. He broke it down into three fundamental human need that human heart has to be loved and valued. Please listen and share it with your peers.

Stephen Phelan, Chief Pastoral Officer of Movement Mortgage joined David for the Christmas special release of Lykken on Lending to discuss about Movement’s story about loving and valuing their people.

12/19/2023

The Lykken on Lending program will feature our Weekly Mortgage Updates with Adam DeSanctis and his MBA Mortgage Minute, and then Les Parker’s TMSpotlight, a macroeconomic perspective on the economy with a music parody. That leads to Matt Graham of MBS Live providing you a rate & market update, followed by David Kittle, Chief Executive Officer @ Cypress Mortgage Capital, to discuss mortgage originations. Then we have Alice Alvey of Union Home providing a regulatory & legislative update, then Allen Pollack giving us a Tech Report on the latest technology impacting our industry. Finally, we wrap up the first half of the program with Marc Helm, Senior Executive Partner @ Transformational Mortgage Solutions, talking about Loan Servicing and the “Agencies”.
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FacebookTwitterLinkedIn Show notes: TMSpotlight: 12.18.23 Mortgage Rates “Winds of Change” Give Renters Hope To Buy ———————-We follow the rate drop and down to Reno Mark Listening to the wind – of change. Mortgages reached our target of 7% because the Fed acknowledged the need to...