Lykken on Lending

Artificial intelligence is no longer just about deploying the latest chatbot—it's about building solutions that can be trusted in high-stakes environments. In this week's AI Update, David Lykken sits down with Pavan Agarwal and Jennifer to explore the critical difference between organizations that merely claim to have an AI strategy and those that have built one around proprietary, purpose-built intelligence. From the emergence of "PropAI" to the role of human oversight, warranted AI decisions, and dramatically reducing operational costs, this conversation examines how specialized AI is transforming mortgage lending and why the future belongs to AI systems designed for accountability, accuracy, and real-world outcomes rather than hype.

The mortgage industry is evolving, and success today requires far more than mastering the mechanics of originating loans. In this compelling Hot Topic episode, David Lykken sits down with one of the industry's most respected mortgage coaches and content creators to explore why the traditional loan officer model is giving way to a new era of "mortgage operators." Drawing from two decades of experience as a top-producing originator, executive leader, and coach, the conversation dives into the mindset, systems, leadership, and business strategies that separate sustainable high performers from the rest of the field. Whether you're a new loan officer, an experienced producer, or a mortgage executive developing your next generation of talent, this episode offers practical insights into building a business that can thrive in any market.

The Lykken on Lending Weekly Mortgage Update delivers expert commentary and timely insights from across the mortgage industry. Each episode features a curated lineup of respected thought leaders and analysts:

• Adam DeSanctis with the MBA Mortgage Minute, providing key updates from the Mortgage Bankers Association.
• Les Parker’s TMSpotlight offers a macroeconomic perspective with his signature musical parodies.
• Matt Graham of MBS Live, breaking down market activity and interest rate movements.
• David Kittle, CEO of The Mortgage Collaborative, sharing insights on mortgage originations and industry trends.
• Alice Alvey of Union Home Mortgage, delivering essential regulatory and legislative updates.
• Allen Pollack, with the Tech Report, spotlighting emerging technologies impacting mortgage operations.
• Bill Corbet, presenting Bill's Bullet Commentary with focused insights on loan servicing and capital markets.
• Marc Helm, offering Marc’s Rant, an unfiltered take on operational and agency-related developments.

Together, this expert panel brings clarity, relevance, and a touch of personality to the ever-evolving mortgage landscape.

This week's mortgage commentary explores why today's lending environment may be less about waiting for lower rates and more about adapting to a fundamentally different market. Bill Corbett's compelling "eye of the storm" analogy frames a discussion on how persistent geopolitical uncertainty, inflation pressures, and a higher-for-longer interest rate environment are likely to remain defining characteristics of the mortgage landscape. The panel also examines the accelerating role of artificial intelligence in reshaping lender operations and highlights growing global confidence in U.S. housing, as evidenced by significant international investment in American homebuilders and housing finance. The message for mortgage leaders is clear: success will belong to organizations that embrace innovation, strengthen operational resilience, and execute confidently in a market where volatility has become the new normal. 

This podcast segment explores why AI governance, data security, and borrower retention—not just automation—are becoming the defining competitive advantages for mortgage lenders as new Fannie Mae AI requirements take effect. 

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Allen Pollack, a Mortgage & Financial Services Technology Advisor, is a subject matter expert in the mortgage origination process along with software product management and software development.

In today’s financial services push to all things Digital, Allen has been helping lenders and financial services solution providers align their digital transformation and technology strategies by removing the human element of risk, and automating processes that drive efficiencies and margins into profits.

Over the course of his career, Allen has co-created and developed technology business models that have birthed highly successful, innovative solutions and companies.

Allen co-founded and served as CTO of New York Loan Exchange (NYLX), a loan product eligibility and pricing engine (PPE) that made an immediate impact on the industry, scaling the company quickly and forming partnerships with multiple mortgage and financial lending companies. In 2012, Allen was a co-founder of a merger between NYLX and Aklero Risk Analytics that created LoanLogics, A Mortgage Loan Quality and Performance Analytics company. Allen served as CTO where he continued to bring new and innovative product solutions to the market that made a significant impact to mortgage lenders that reduced risk, scaled business channels, and grew profits in a very competitive and highly regulated market.

Allen is also is mortgage and finance technology contributor on a weekly live industry podcast, Lykken on Lending, and is launching a new podcast soon to be released, TechStack Radio, dedicated to technology and innovation in Financial Services.

This podcast segment encourages lenders to stop waiting for lower interest rates and instead focus on growing their business by embracing today's market, serving purchase borrowers, and capitalizing on opportunities like non-QM lending.

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Alice Alvey, Master CMB

Vice President Partner Education and Training at Union Home Mortgage

She handles development of their World Class Training program designed to support UHM partners and organizational effectiveness.

Prior to UHM, Alice served as Senior Vice President at Indecomm leading the Indecomm-Mortgage U division, Internal QA and Compliance and SaaS technologies. Indecomm acquired Mortgage U in 2013, where Alice was President/Co-founder, providing training and consulting since 1996. Prior to MU she served as SVP of Operations at a national bank overseeing operations for wholesale, retail and correspondent from underwriting through servicing, and compliance.

She has been in the trenches of mortgage lending operations from application through servicing for over 30 years. Her authoring work in training content, policies and procedures and the FHA/VA Practical guides illustrates her ability to bridge regulatory requirements with day-to-day operations.

Alice has been a weekly contributor to the Lykken on Lending show since its beginning in April 2009 and has made her weekly contributions to 450+ episodes!

This podcast segment explains how surprisingly weak inflation data offset geopolitical tensions and shifting Fed expectations, allowing mortgage rates to improve despite ongoing market volatility.

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Matt began as an originator in 2002. He fell in love with the idea of following MBS in real-time but felt that existing products were only scratching the surface. Thus was born MBS Live in 2007, the first-of-its-kind platform with real-time market data/analysis, and live chat with analysts, traders, and originators around the country. He is currently the Founder and CEO of MBSLive!

He's been covering bond/mortgage markets, writing commentary, alerts, and chatting with the live community every business hour of every business day ever since.

Matt also serves as the Chief of Operations for mortgagenewsdaily.com, where he is one of the industry's most respected mortgage rate experts, frequently quoted in the media. Mortgage News Daily's rate index is used as the definitive resource on day-to-day mortgage rate averages.

He lives in the Pacific Northwest with his wife and son, where he enjoys skiing, fishing, coaching youth sports, playing the guitar, and more DIY projects/hobbies than he'd care to admit.

07-21-2026 "Does Anybody Really Know What Time It Is?" Bonds Don't Care

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(Bonds don't) Does anybody really know what time it is? (Care) Does any rally really care? (About time) If so, Bonds can't imagine why. (Oh don’t sell) They've all got time enough to buy.

The more things change, the more they don’t. The nature of a big system hides micro tragedies. Consider how mortgage rates have stayed within a 100 bps band for three years, but volatility has ranged from 2 to 5.

Imagine at 2 you make your gross margin, but net profit declines and eventually turns negative as volatility increases. The point is that the speed of change is more dangerous than change itself.

Buy or sell, Bonds don’t care.

These views are mine. Join TMSpotlight to know when time matters.

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Song: Does Anybody Really Know What Time It Is (1969)

This podcast segment highlights the CFPB's new request for information, marking a significant step toward modernizing mortgage regulations and advancing MBA's advocacy for reforms that could reduce costs, ease compliance burdens, and expand access to affordable mortgage credit.

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Adam DeSanctis, VP of Communications at Mortgage Bankers Association

As a strategic public affairs and communications executive with nearly two decades of experience, Adam has deep expertise in strategy, management, and media relations. He is widely considered to be an expert in a variety of communications, including advocacy, brand, executive, crisis, grassroots, and social media. In his career, he has been the MBA spokesperson on a wide variety of real estate research and advocacy-related issues, promoted MBA research and advocacy efforts to financial, political, and trade industry media and on MBA's social media channels, and secured media opportunities for MBA leadership on key real estate trends and issues, generated media coverage for MBA's research and data on mortgage applications, credit availability, homebuilder applications, mortgage forbearance/delinquencies, commercial real estate originations, and forecasts, and other industry analysis, developed key strategic initiatives for MBA's organizational public affairs plan, media relations and member communications support for mPower, MBA's Opens Doors Foundation and MBA's Diversity, Equity, and Inclusion program.

Artificial intelligence is rapidly transforming the mortgage industry, but innovation without standards can create more risk than value. In this Hot Topic, David Lykken sits down with MISMO President Brian Vieaux to discuss why trusted data, governance, and industry collaboration are the true foundation of successful AI adoption. Brian shares how MISMO's new FRAME (Framework for Responsible AI in the Mortgage Ecosystem) gives lenders practical guidance for implementing AI responsibly while remaining compliant with evolving regulatory expectations. From separating genuine innovation from simple automation to exploring how standardized data can reduce loan manufacturing costs and improve efficiency, this conversation provides mortgage executives with an inside look at the infrastructure that will shape the industry's AI-driven future.