MBA NewsLink Q&A: Pennymac’s Mike Hogan on Mortgage Technology’s Next Chapter #MISMOSummit

(Left to right: Optimal Blue’s Fuad Nasir and Pennymac’s Mike Hogan in a MISMO fireside chat
about turning standardized data into trusted capital markets decisions with responsible AI.)

RESTON, Va.–One central theme of the MISMO Fall Summit: AI is quickly moving from an emerging technology to practical applications across the mortgage industry. But realizing its potential requires more than adopting new tools.

Pennymac Chief Information Officer Mike Hogan joined Optimal Blue’s Vice President of Product Management for Hedging and Trading Fuad Nasir on Tuesday for a MISMO fireside chat about turning standardized data into trusted capital markets decisions with responsible AI.

MBA NewsLink caught up with Hogan at the summit to discuss the evolving role of technology in mortgage.

MBA NewsLink: AI was a major focus of your Fireside Chat with Optimal Blue’s Fuad Nasir at the MISMO Fall Summit. Where do you see the biggest opportunities for AI in mortgage today?

Hogan: One of the biggest opportunities is speed. AI can significantly reduce the time it takes to develop and deliver solutions, helping teams move from an idea to implementation much faster while making processes more responsive.

Over time, AI agents and automation also have the potential to reduce the time and cost involved in originating and servicing a mortgage. In capital markets, for example, there is a significant amount of data behind pricing, hedging, execution and risk management. AI can help identify patterns within that information and make it easier for teams to act on what they are seeing.

The opportunity is significant, but the quality of the results still depends on the quality of the information behind them. That is why data standards and strong architecture matter. They give organizations a more reliable base to build from and make it easier to understand what the information represents, how it moves across systems and how it is being used.

MBA NewsLink: You serve as Vice Chair of MISMO’s Board of Directors. Why does MISMO’s work matter to the mortgage industry today?

Hogan: The mortgage industry includes lenders, servicers, investors, agencies, technology providers and other participants that need to exchange information throughout the life of a loan. MISMO helps create a common language for that information.

That becomes increasingly important as technology becomes more interconnected. If organizations define and structure information differently, too much time goes into translating data between systems before it can actually be put to work.

Common standards reduce that friction while improving consistency and interoperability across the industry. They also create a stronger foundation for technologies like AI, because those technologies are only as useful as the information behind them. Having well-defined data and standards provides rich context to AI agents and applications to deliver the best results.

MBA NewsLink: You’ve spent much of your career working at the intersection of mortgage and technology. How has that experience shaped your approach as Pennymac’s CIO?

Mike Hogan: One thing you learn very quickly in this industry is that technology cannot operate separately from the business. Mortgage is complex, and the systems we build have to work within that complexity while making things simpler for the people using them.

My experience in capital markets reinforced the importance of reliable data, strong controls and transparency. Those principles apply well beyond capital markets. As CIO, I think about how we connect information across the organization, give our people better tools to make decisions and respond more quickly to customer needs.

Technology is most valuable when it solves a real business problem and improves the experience for the people we serve. At Pennymac, that means using technology to make homeownership easier to navigate for homeowners and homebuyers while giving our teams the tools they need to support them effectively.

MBA NewsLink: How would you describe Pennymac’s approach to technology and innovation?

Hogan: At Pennymac, we think about the solutions we can bring to the table and the experience we want to create for our customers. From there, we determine the right technology to support it.

A major part of that strategy has been investing in our technology, including Plaisse. Owning the core platform and product roadmap gives us greater speed and flexibility as customer needs, market conditions or regulatory requirements change. It allows us to move from an idea to production quickly and incorporate direct feedback from the people who rely on the technology every day.

That speed matters in mortgage because the environment is constantly evolving. Whether we are responding to a new requirement by being the first large lender to roll out VA Partial Claim or introducing new capabilities such as natural language virtual voice assistants, owning the technology gives us greater control over how quickly we can act.

At the same time, ownership does not mean building everything ourselves. Strong technology organizations need strong partners. The goal is to be deliberate about what we build internally and where outside expertise can strengthen the broader architecture.

MBA NewsLink: Where does Plaisse fit into that broader technology strategy?

Hogan: Plaisse is a centerpiece of Pennymac’s technology strategy. It is our servicing platform, built to connect data, workflows, customer interactions and servicing functions across the life of a loan.

Because it was built around the realities of servicing, Plaisse can process activity in real time rather than relying on delayed batch cycles. If a homeowner makes a payment, they can see it reflected quickly, while the employees assisting them are working from the same current information. That reduces manual handoffs and supports a more connected, consistent experience.

Plaisse also supports 24/7 self-service across web, mobile and telephony channels, with more than 95% of customer contacts handled through intelligent automation.

MBA NewsLink: Looking ahead, how do you expect technology to change the mortgage industry over the next several years?

Hogan: I expect the industry to continue moving toward technology environments that are more connected, real-time and adaptable.

AI is advancing quickly, and the capabilities available a few years from now will likely look very different from what we have today. The companies best positioned to take advantage of those changes will be the ones that have invested in the underlying systems that allow them to adapt.

That means reducing fragmentation and creating stronger connections across data and platforms. It also means maintaining the controls needed to evolve responsibly as new capabilities emerge.

At Pennymac, we see an opportunity to use our data, scale, mortgage expertise and technology to become more responsive and increasingly proactive. That could mean giving employees better information, making routine interactions easier for homeowners or identifying customer needs earlier – it comes down to leveraging technology to simplify the lifecycle of the loan.

Mike Hogan has more than three decades of mortgage and technology experience. He joined Pennymac in 2020 to lead Capital Markets Technology before becoming chief information officer in 2024. He currently serves as Vice Chair of the MISMO Board of Directors.


(Views expressed in this article do not necessarily reflect policies of the Mortgage Bankers Association, nor do they connote an MBA endorsement of a specific company, product or service. MBA NewsLink welcomes submissions from member firms. Inquiries can be sent to Editor Michael Tucker or Editorial Manager Anneliese Mahoney.)