The AiCR Exchange

Meet the developers who built the AiCR platform from the ground up. What does it actually take to build something that's never been built before? In this episode, host Joe Furlough sits down in the office with the three developers behind AiCR, Mychal, Paolo, and RJ, for an honest, unscripted conversation about what it's really like to build a platform at the edge of what's technical...

Mortgage servicing rights are one of the most complex assets in the market, and one of the most misunderstood.  What does it actually take to value and trade MSRs at scale? Joe Furlong sits down with Mike Carnes, who leads the MSR team at MIAC, to break down how the MSR market really works. Mike's team handles over $52 trillion in annual MSR valuations across residential and commercial, and h...

Whole loan trading is the market where mortgage loans are bought and sold between lenders and investors. What happens when a loan can’t be sold through a traditional agency channel? In this episode of The AiCR Exchange, Joe Furlong speaks with Nick Dorn, who leads MIAC’s whole loan trading desk. Nick explains how scratch and dent, non-QM, and non-performing loan sales work, what investors are look...

Historical document research depends on organizing large amounts of handwritten records, archived files, and disconnected information. How do historians and researchers actually work through decades of documents to find what matters? In this episode of The AiCR Exchange, Joe Furlong sits down with Dr. Jonathan DeCoster, Kathleen Miller, and Miles Gabrielli-Burke from the University of New England...

This episode breaks down how behavioral models are built and used in mortgage and capital markets. How do you actually turn loan data into something you can trust for decision-making? In this conversation, the focus is on what goes into behavioral modeling beyond the surface level. It walks through how teams think about prepayment and default behavior, what data matters, and where models can break...

In this episode of The AiCR Exchange, Joe Furlong sits down with Patrick Zoro, Professor and MFE Program Lead at Lehigh University, to discuss how students move from the classroom into real careers in capital markets. Patrick brings a unique perspective, having worked on Wall Street before transitioning into academia. The conversation focuses on what actually matters for students trying to break i...

In this episode of The AiCR Exchange, Joe Furlong is joined by John Cooper , who leads MIAC’s due diligence efforts across the United Kingdom and the Eurozone. They discuss how loan review and securitization due diligence differ between the U.S. and European markets, including the impact of lender-specific processes, documentation standards, and regulatory frameworks across different countries. Th...

In this episode of The AiCR Exchange , Joe Furlon g is joined by Dean Hurley , who leads MIAC’s Whole Loan Valuation Group, for a detailed look at how residential, commercial, and consumer whole loans are valued in today’s market. They discuss MIAC’s structured valuation process, including data normalization, assumption setting, cash flow modeling, and supervisory review. The conversation highligh...

In this episode of The AiCR Exchange , Joe Furlong is joined by Paul Raebel for a behind-the-scenes look at mortgage loan delivery and what it actually takes to sell and securitize loans with Fannie Mae, Freddie Mac, and Ginnie Mae. They discuss why data quality drives the entire delivery process, how missing or inconsistent data creates bottlenecks, and where issues most commonly surface during a...

In this episode of The AiCR Exchange, Joe Furlong is joined by Eric Dunham for a behind-the-scenes look at SBA lending and the realities of financing small and mid-sized business acquisitions. They discuss how SBA loans are structured, why the process is highly document-intensive, and where delays typically occur in practice. The conversation covers common transaction pitfalls, the role of borrowe...

In the first episode of The AiCR Exchange , Joe Furlong, President and CEO of AiCR , sits down with Kelly Granillo , who leads marketing for AiCR and the broader MIAC enterprise. They discuss how AiCR has approached building a plainspoken, product-forward brand in a market crowded with AI hype. The conversation covers why understanding real document and operational pain matters, how AiCR’s messagi...