“Where do amputees get prosthetics on a budget? The secondhand store.” Budget, stalemate, and shutdown news continues in Washington DC. The sun still comes up in the morning, and there is news on related issues. For example, thank you to Sean S. who told me that HUD opened the suggestions window for improving the HECM (reverse mortgage) product. The reasons why Treasury and mortgage rates remain elevated despite the shutdown and Fed’s rate cuts will be discussed in the Capital Markets Wrap at 3PM ET, presented by Polly. In other shut down news, “USAA has stepped up for military service members and federal employees impacted by the government shutdown, delivering over $232 million in no-interest loans to about 62,000 members to date. As part of this program, eligible USAA members can apply for a no-interest loan equal to one net paycheck, up to $6,000. USAA has also processed tens of thousands of additional payment relief offers for banking and insurance products.” All the while, lenders and vendors are grappling with market shifts due to lack of economic news, interest rates, regulatory landscape (steady vs. being reactive), consumer behavior, and are participating in industry advocacy at the state or national level, thus giving them a voice. (Today’s podcast can be found here and this week’s are sponsored by Floify, an industry-leading point of sale platform. With Floify’s new Dynamic AI feature, lenders can modify applications with no coding required and rely on AI to autofill key application fields, allowing borrowers to fill out only a few fields relevant to their needs. Hear an interview with Tavant’s Mohammad Rashid on how automation and artificial intelligence will reshape customer experience, streamline operations, and address key lender challenges, positioning technology as the catalyst for modernizing and transforming the mortgage landscape.)