Mortgage Tech Insights with Adam Carmel

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Mar 12, 2025

In this conversation with Adam Carmel, founder and CEO of Polly, you'll discover why he ventured into mortgage tech in 2019. Adam reveals how his team aims to slash loan origination costs from $12,000 back to $2,000. He discusses how AI is revolutionizing mortgage processes and what Polly’s data forecasts for lenders in 2025. The dialogue also covers the future of America’s 30-year mortgage and the impact of privatizing Fannie and Freddie. Join them as they navigate the complexities of today's mortgage markets with innovative solutions.

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ANECDOTE

Polly's Origin

Adam Carmel started a mortgage company in 2013 aiming to reduce origination costs.
He later sold the company to start Polly, focusing on a proprietary pricing engine.

INSIGHT

Real-Time Rate Data

Polly's rate lock data provides real-time insights into actual locked loan rates, unlike traditional rate sheets.
This data offers a leading indicator of market activity.

INSIGHT

Rate Sensitivity

Even small rate changes significantly impact refinance opportunities.
This suggests consumers are highly sensitive to rate fluctuations.

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In this episode of the Top of Mind podcast, Mike Simonsen sits down with Adam Carmel, CEO and founder of Polly, to talk about mortgage technology and the mortgage markets.

About Adam Carmel

Adam Carmel is the founder and CEO of Polly, a true mortgage technology trailblazer. Adam founded Polly in 2019 to build a vertically integrated mortgage platform.

Here’s a glimpse of what you’ll learn:

The remarkable story of why and how he started Polly
His leadership strategies in these volatile markets
How he leads a mortgage technology company and doesn’t let mortgage rates into the decision process
Why the cost of loans has risen from $2,000 to $12,000 and how Polly aims to bring it all the way back down
The incredible opportunity for AI and how consumer and mortgage cost wins are already here with AI in the mortgage process
What the Polly data says about the opportunity for lenders in 2025
Scenarios of what could happen to the mortgage market if we privatize Fannie and Freddie
How to think about America’s 30-year fixed rate mortgage market and how it might evolve

Related to this episode:

Featuring Mike Simonsen, President of Altos Research

A true data geek, Mike founded Altos Research in 2006 to bring data and insight on the U.S. housing market to those who need it most. The company now serves the largest Wall Street investment firms, banks, and tens of thousands of real estate professionals around the country. Mike's insights on the market have been featured in Forbes, New York Times, Bloomberg, Dallas Morning News, Seattle PI, and many other national media outlets.

About Altos Research

The Top of Mind Podcast is produced by Altos Research.

Each week, Altos tracks every home for sale in the country - all the pricing, and all the changes in pricing - and synthesizes those analytics to make them available before becoming visible through traditional channels.

Schedule a demo to see Altos in action. You can also get a copy of our free eBook: How To Use Market Data to Build Your Real Estate Business.

The Top of Mind podcast features top real estate industry insiders and experts to unpack the most important housing, real estate, mortgage data and trends that are shaping the housing market. Hosted by Altos founder Mike Simonsen and produced by the HousingWire Content Studio.