Language has oddities. For example, plurale tantums: items that are usually referred to in plural, often preceded by “pair of” even when there is only one item: pants, pliers, glasses, scissors, sunglasses, tweezers, etc.) Mortgage banking has its own language. Like “Agencies,” which we accept as being primarily Freddie Mac and Fannie Mae. For fans of the Agencies, I received this interesting anonymous opinion. “Rob, your Commentary noted that Patrice Ficklin, who led the CFPB’s fair lending office since 2011, is leaving to rejoin Fannie Mae. The first thing Patrice should do is run a Fair Lending analysis on Fannie Mae’s book of business. She will find that Fannie Mae would not pass a CFPB fair lending exam based on what I know about racial and social makeup of the last five years of production…as one ex-Fannie Mae employee said to me once ‘we have a segregated RMBS market.’” Far be it from me to address that; you should reach out directly to Freddie or Fannie if you have questions about their respective books of business. (Today’s podcast is found here and this week’s is sponsored by Optimal Blue. OB’s smart solutions automate critical functions like pricing, hedging, trading, and social media. More originators and investors rely upon Optimal Blue’s integrated solutions, data, and connections to support their unique business strategies, no matter how complex. Today’s features an interview with Space Coast Credit Union’s Malik Wilkes that gives a “finger on the pulse” of the credit union segment of our biz and current trends in the space.)