Episode summary
PRMG’s Kevin Peranio on finding opportunity in this market
HousingWire Daily
· · 26 min · Hosts: Sarah Wheeler · Guests: Kevin Peranio
Summary
Kevin Peranio argued that a higher-rate market still contains plenty of opportunity if originators stay positive, rethink their processes, and focus on controllable activity. He said PRMG is seeing business in equity lending, HELOCs, nonQM and other nontraditional products, and that down markets tend to reward broader product mix and better consumer education. He also said the company is already preparing for spring purchase season in 2027 while continuing to fund loans now.
A major theme was home equity and reverse mortgage products. Kevin Peranio said proprietary HECM options are expanding, the average retiree’s housing costs are a major burden, and reverse purchase can be a powerful downsizing tool for older borrowers. He framed home equity as a way to improve cash flow and quality of life, not just as “debt,” and said younger consumers increasingly view the home as an asset that can be leveraged.
He also detailed how PRMG is using AI as a “teammate” across underwriting, document handling, CRM, dialing, and conversational text outreach. Kevin Peranio said the lender has already seen ROI from tools such as Claude, Friday Harbor, and internal systems layered over Encompass, and he expects AI to become more deeply embedded in mortgage operations over time.
Key takeaways
- Kevin Peranio said PRMG is leaning into equity lending, HELOCs and nonQM as down-market opportunities rather than waiting for refinance volume to return.
- Kevin Peranio said reverse mortgage and reverse purchase products could become more important as retirees face housing costs that he said are about 40% of the average budget.
- Kevin Peranio described AI as an operational teammate that can save time on notes, travel, underwriting and customer outreach, while still requiring a licensed human for rate conversations.
- Kevin Peranio said PRMG has already begun seeing ROI from AI investments and believes the lender is among the top five in AI implementation.
- Kevin Peranio said a seasonal slowdown could be followed by a demand rebound, with 2027 purchase season already on his planning horizon.
Notable quotes
“there's still a ton of business. You know, there's record, uh, equity lending and helock lending and non lending”
“you need to think of it as like an AI teammate, right? It's a teammate, right? So, so, um, it's a workforce”
“It is a fantastic product. So let's say that you know you're in your 70s and you're trying to downsize. You only have to put 50% down”
“I think we're a top five lender when it comes to AI implementation just being on the road and hearing what other people are doing”
How the episode opens
Welcome everyone. My guest today is Kevin Piranio. He's chief lending officer and partner at PRMG. So excited to be here with you in person. And as you can see, we have the beautiful beach in the background here, Newport Beach. So, we're you're not going to get to see us very much. We're kind of dark, but listen, just enjoy the view. Yes. And the seagulls.
And the seagulls. That's right. Kevin, welcome back to the podcast. And here we are in person in Newport. — Yes. Newport Beach Peninsula. Good to be here. — Amazing. And we're giving you uh everyone who's watching this. You can see that sliver of beach back there. Pretty amazing. So, thanks for jumping on today. You know, I always like to check in with you every once in a while just on um how you're leading a company through good times, challenging times. Unfortunately, we're kind of back in a more challenging time than maybe we thought we were going to be.
So, we're going to talk about that. We're going to talk about AI. So, let's start from the top. How are you approaching this market?
You know, I I think u positivity is is the key thing. You know, I I've been seeing a lot of chatter online. I've even had someone like two months ago say, um, can you please tell him not to be so positive all the time on his podcast?
literally that was that was the feedback they they gave uh to to our podcast. Um you know it's a battle, right? You're we're in we're in a battle, right?
we're in. Not not like life or death war, but you know, and I don't I want to use that analogy since there's real wars going on around the world, but when you're side by side with a teammate, you want them thinking you can win and you're going to fight and you're going to find a way to the goal, to the finish line, you know, whether it's a sporting event or whatever it is, you cannot have negativity next to you.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- higher-rate environment
- home equity products
- mortgage originations
- ai in lending
- lending opportunity
Companies and tickers mentioned
- PRMG
Watch the episode
Watch “PRMG’s Kevin Peranio on finding opportunity in this market” on YouTube
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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