In the 1980s I fell off my bike and hurt my knee. I’m telling you this now because we didn’t have social media then. It doesn’t take social media to know that the S&P 500 is down 10 percent for the year, but fortunately “the stock market is not the economy.” As lenders and vendors everywhere focus on people, processes, and technology in trying to help their clients, on a broader scale, things have turned south. The benchmark S&P 500 index has now notched seven negative weeks out of nine, as tariff developments continue to sour sentiment. After several, sometimes confusing, adjustments and clarifications to tariff policy in recent weeks, things were quieter on that front last week. Lenders working with builders took note of one builder’s comments. “This year’s spring selling season started slower than expected, as potential homebuyers have been more cautious due to continued affordability constraints and declining consumer confidence,” Paul Romanowski, CEO of D.R. Horton, the largest homebuilder in the country, said on the recent earnings call. (Today’s podcast can be found here and this week is sponsored by nCino, makers of the nCino Mortgage Suite for the modern mortgage lender. nCino Mortgage Suite’s core products unite the people, systems, and stages of the mortgage process. Hear an interview with Planet Home’s Mike Dubeck on managing a company through market cycles and driving business through technology investments.) Software, Products, and Services for Lenders and Brokers