Today would have been the 65th birthday of comedian Norm Macdonald. And while that may make your head shake, here’s something else that definitely will: Hurricane Milton will result in an estimated $36 billion in insurance claims due to damage from wind, storm surges, and flooding, following Hurricane Helene’s $19 billion. For those without an HP-12C, that’s $55 billion. No, I don’t know, compared to that cost, how much insurance companies earned in premiums in those areas since the last loss. Making money, spending money… To make more money in lending, or even survive, you need to figure out where the money is being spent. Freddie Mac has a report on the cost to originate that you should either skim through or print and read. Speaking of Freddie, the ex-head of the FHFA is being interviewed today, and you can bet that he’ll be talking about possible election-related Agency moves. Mark Calabria is the former director of the Federal Housing Finance Agency, which regulates and supervises Fannie Mae, Freddie Mac, and the Federal Home Loan Banks. He laid the groundwork for a removal of Fannie Mae and Freddie Mac from government conservatorship. (Today’s podcast can be found here, and this week’s is sponsored by Aidium. Your leads are showing signs of intent to buy or refinance a home far before traditional triggers like pulling credit. Aidium’s AI Lead Prioritization helps you sift through bad leads and focus on the ones that are ready to transact. Spend your time where it matters most with Aidium. Hear an interview with Tavant’s Sundeep Mathur on providing AI-powered tools that build better borrowers by enabling and empowering consumers with the knowledge, tools, and data needed to make sound financial decisions.)