Know Your Borrower; Figure's IPO star Mike Cagney Interview

Group 1: Bank Mergers and Acquisitions - National Bank Holdings Corporation announced a definitive merger agreement to acquire Vista Bancshares, which has $2.4 billion in assets, $2.1 billion in deposits, and $1.9 billion in loans as of June 30, 2025 [10][11] - The combined entity will have approximately $12.4 billion in pro forma assets and $10.4 billion in pro forma deposits [11] Group 2: Mortgage Industry Trends - The 2025 NextGen Financial Literacy Report indicates that only 8% of respondents knew the minimum down payment for a conventional loan, highlighting a significant knowledge gap among potential homebuyers [12][13] - The report shows that 71% of respondents are turning to TikTok for advice on homeownership, while 61% are using AI tools like ChatGPT for research [13] - Early engagement with lenders is linked to higher satisfaction and trust scores among borrowers, suggesting a shift from 'point of sale' to 'point of thought' for loan officers [14][15] Group 3: Capital Markets - Fannie Mae, Freddie Mac, and Ginnie Mae are increasingly supporting first-time home buyers, with Ginnie Mae's issuance from first-time buyers reaching nearly 70% last year, the highest since at least 2016 [17] - First-time buyers in Ginnie Mae loans tend to have lower credit scores and higher rates of serious delinquencies compared to repeat buyers [17][18] Group 4: Economic Indicators - Recent retail sales data showed a 0.6% increase, which was much stronger than expected, while import prices rose by 0.3% [21] - The economic calendar includes various data releases, including business inventories and the NAHB Housing Market Index for September [21]