“I didn’t make it to the gym again today. That makes five years in a row.” I did, however, make it to the aerodrome over the weekend, which involved travel (not on Spirit) from Ohio to Nevada, and also a look in the mailbag. “Rob, are you hearing something about some states contemplating requiring audited financials from brokers?” I have heard rumblings of it, but no one seems to have any definite information. If the regulatory burden shifts from the federal government to the state level, it wouldn’t surprise me. “Rob, do you know the reason why the Agencies aren’t contemplating having lenders just use one credit bureau rather than going from tri-merge to bi-merge?” I don’t know. You should ask your Fannie or Freddie rep. The three credit bureaus certainly put lenders and investors in an interesting situation currently, especially when costs go up. There is a school of thought that says the industry should have moved from tri-merge, skipped bi-merge, and gone to a single credit bureau’s result. (Today’s podcast can be found here. This week’s is sponsored by PHH Mortgage. If you are looking for a Correspondent Lending partner or an experienced, award-winning subservicer who can manage your forward and reverse, residential and commercial, and performing and non-performing loans look no further than PHH. Hear an interview with First Street’s Matthew Eby and Amanda Johnson on climate risk modeling advancements and how those models impact borrower, lender, and investor behavior.)