Redfin is calling next year the beginning of “The Great Reset,” when wages will grow faster than home prices for the first time since 2008. Eventually, that could mean affordable houses. But not this year. Mortgage banking isn’t a career most people plan; but for those it finds, it can become a calling. In this personal and candid essay, Bill Dawley traces his unlikely journey from professional baseball to a 30-plus-year career in mortgage banking, sharing hard-earned lessons on discipline, leadership, and what it really takes to build a lasting career in a cyclical industry. From kitchen-table loan applications to coaching the next generation of professionals, Dawley explains why success isn’t about brilliance or luck, but about showing up consistently and doing the work. (Today’s podcast can be found here. This week’s are sponsored by Polly. Polly operates the industry's only vertically integrated capital markets platform, purpose-built to maximize profitability through precision cost reduction, margin expansion, and real-time, loan-level attribution and profitability analysis. Interview with STRATMOR Group’s Garth Graham on M&A activity in 2025, the plays that larger companies are making through acquisitions, and how deal flows change throughout market cycles.) Products, Programs, and Software for Lenders Kick-start your pipeline this New Year with up to 75 BPS in price improvement from LoanStream (DBA of OCMBC, Inc.). Take advantage of up to 75 BPS on select non-QM products, including DSCR 5–8 units and Jumbo, or 25 BPS without Select. 25 BPS on FHA loans, including MaxONE DPA and Streamlines (Select excluded). These limited-time specials apply to loans locked January 1–31, 2026. Plus, expand your reach and unlock new opportunities by serving international borrowers with LoanStream’s Foreign National DSCR. Join their LIVE webinar on Tuesday, January 13th for an in-depth look at how this powerful program works. Learn how to support foreign real estate investors, attract new clients, and grow your pipeline, all at the same time. Don’t miss out!
Mortgage Rates End Week Slightly Lower
It ended up being a decent round trip for rates this week. Monday kicked things off with a jump to the highest level in more than a month, and the third highest since August 2025. But that ended up being the only day where rates went higher. Wed…