“Depression is merely anger without enthusiasm.” People flying around the nation have probably observed, or have heard, a change in the mood of airport security screeners. It turns out that the Trump Administration outlawed unions at TSA. Change is afoot. In my recent travels around the country, it is clear that LOs have adapted their origination based on price and opportunity. For example, Deephaven’s Tom Davis points out that, “non-QM loans should be done by design, not by decline.” (He is waiting for the trademark on that.) Originators who focus on real estate agents believe that the top 5 percent of agents do 90 percent of the business… and ask other LOs “Where are you focusing your marketing efforts?” In terms of new business, the refinance share of market mortgage applications released last week reached nearly 44 percent, primarily to pay for remodeling and to pay off high interest rate credit card debt. Are you adapting? (Today’s podcast can be found here and this week’s is sponsored by TransUnion. TransUnion offers thousands of B2B solutions designed to address the unique needs of mortgage lenders, especially for their identity-focused, data-driven mortgage insights and solutions. Hear an interview with AMC Encore’s Jordan Chapman on the journey of an appraiser turned AMC leader, exploring career challenges, industry insights, and the evolving role of women in mortgage and valuation, plus what it takes to get an AMC approved in today’s market.) Lender and Broker Products, Software, and Services