June 15: New wholesaler, LO jobs; Verification, MGIC survey, Rocket contest, credit reporting tools; Agency program changes

This morning, I head to Honolulu for the MBA Hawai’i annual conference. The “Pineapple State” is known for banks and credit unions dominating residential lending. Robber Willie Sutton is famously quoted as saying, “I rob banks because that’s where the money is.” Large, unexpected moves in money make the headlines, and Saturday’s Commentary highlighted the collapse of a condominium property management company. Another headline is making the rounds where $17 million in escrow funds disappeared overnight: a Palm Beach law firm sued a bank over a cyber-attack. Ginnie Mae has gained a recent reputation for ratcheting up its cyber security. While companies are focused on security, MLOs have their eye on trends and demographics, and National MI’s Spring 2026 Economic Market Snapshot has its 2026 rate outlook coming in at 6 percent and higher on average, is seeing nearly half of buyers ages 45–59 put less than 20 percent down (leveraging cash or betting on market appreciation?) and first-time buyer activity that rose during February’s rate dip. Yup, don’t bet your career on 30-year mortgage rates in the 5’s. See the full Economic Market Snapshot. (Today’s podcast can be found here and this week’s ‘casts are sponsored by Truework, the one verification solution to replace in-house waterfalls. Verify any borrower with a VOIE solution that automates the entire process to quickly deliver the most accurate and complete reports with broad GSE coverage. After a period largely out of the public spotlight, Ally Carty returns to the industry conversation to discuss her transition from Guild Mortgage to SoFi and what she learned from stepping back. She reflects on burnout, the pressures of building a personal brand, and why authenticity – not algorithms – remains the foundation of effective content and leadership.)

Employment, women in lending, and transitions

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“Back to Basics, Built for Success: GVC Mortgage Launches Wholesale Division! GVC Mortgage is thrilled to launch our new Wholesale Division, built on what has worked for 30 years. We are a service-first company delivering a premier, white-glove experience for broker partners. We stick to the reliable basics making up 80 percent of the market. We focus strictly on Conventional and Government loan products, refusing to get distracted by flashy industry trends. To back this, we have invested in top-tier technology built to price and execute your traditional loan scenarios with total speed and precision. Partner with GVC Wholesale and deliver a faster, simpler path to the closing table for your clients. We are also hiring seasoned Account Executives who value stability and elite service. Contact Mortgage Veteran Jim Janczy today at 508-965-8055 to partner with us or join our growing team.”

loanDepot continues to grow its Retail footprint nationwide with a new branch in Henderson, Nev., led by Branch Manager Marcel Giron. With more than a decade of mortgage experience across the Las Vegas area, Giron brings deep Southern Nevada market knowledge, a relationship-first approach, and the ability to serve customers in both English and Spanish. He has guided a wide range of borrowers through the homebuying process, including customers using Nevada’s Home Is Possible and Home Is Possible For Heroes programs. At loanDepot, Giron will help strengthen the company’s presence across Henderson and the greater Las Vegas market, connecting more customers, real estate professionals, and community partners with loanDepot’s high-tech, high-touch lending experience. Sales leaders interested in exploring opportunities with loanDepot are encouraged to contact Shane Stanton.

Top mortgage talent has choices. Why should they choose your company? The lenders attracting and retaining the industry’s best professionals have something in common: they’ve built cultures where employees can grow, lead, and succeed. But if no one knows what you’ve built, you’re missing an opportunity to strengthen your employer brand and stand out from competitors. Mortgage Women’s 2026 Top Employers for Women recognizes organizations that are creating workplaces where women thrive and careers flourish. Honorees receive industry recognition, valuable employer-branding assets, and exposure that can help attract top talent. If your company is investing in its people, it’s time to tell your story. Nominations close July 24, 2026. Show the industry why top talent chooses you.

Chrisman LLC continues to change and expand as we help our clients and offer new services. Congratulations to Jake Perkins who obtained his MPA from USC, focusing on social innovation at the intersection of the private and public sectors. Jake will continue to lead Chrisman’s digital strategy, the Marketplace platform, Job Board, and operational infrastructure, and he will also attend more conferences around the nation.

The Chrisman Job Board is the go-to platform for employment opportunities across the mortgage industry. For employers, adding a job listing is easy. Simply create an account and drop in your existing application link, or forward the details to our team and we’ll take care of it for you. For job seekers, joining our Talent Community is completely free. Upload your resume to be visible to hiring companies across the industry and stay connected to new opportunities as they go live.

Broker and lender products, software, & services

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“Have a broker tech idea? We’ll help bring it to life. The next big advancement in broker tech could come from you. Submit your idea to The Big Pitch and help move our industry forward. One idea. $100,000 reasons to go for it. We’ll pick three finalists, and our Rocket Pro teams will help turn their solutions into prototypes and let brokers decide who wins. The $100,000 grand prize will be awarded live September 1 at RPX. Submissions close on June 30. Submit your idea for The Big Pitch. Want to be part of the moment? Register for RPX and experience it live. Rules apply. View official rules.”

Servicing performance is portfolio performance, yet most non-QM strategies treat subservicing as an afterthought. With decades of experience servicing non-agency assets, including bank statement loans, HELOCs, and everything in between, LoanCare® is built for the performance of credit-sensitive assets, and the many other complexities non-QM borrowers bring. LoanCare is flexible to meet customized investor requirements and compliant to protect your portfolio. Heading to IMN’s non-QM Forum? Connect with the LoanCare team and learn how to make servicing your competitive non-agency advantage.

Calling all loan originators: Tell us about the last year! Take the annual Loan Originators Survey from MGIC to weigh in on how you handled the challenges, opportunities, and trends of the past year. Get a head start on comparing your strategies to your peers’: complete the survey by June 30 and you’ll receive exclusive early access to the full survey report this fall. 

eLEND Launches DSCR Investor Program, With More Innovation on the Horizon! eLEND is excited to announce the launch of its new Debt Service Coverage Ratio (DSCR) Investor Program, expanding opportunities for real estate investors seeking flexible financing solutions. Designed for income-producing properties, the program allows borrowers to qualify based on rental property cash flow rather than traditional income documentation. The DSCR program supports both experienced and first-time investors, offering financing options for purchase and refinance transactions, as well as long-term and short-term rental strategies. This launch represents the first of several new product enhancements and initiatives planned by eLEND as the company continues to invest in innovative lending solutions for its partners. Click here to learn more about the DSCR Investor Program. Approved broker partners can also access full guidelines and resources through the Loan Center. Visit elendtpo.com, call 1-800-375-6071, or email sales@elend.com (NMLS 2826) Want in on this action? Partner today!

Working with APS means working with an entire ecosystem built for the mortgage lifecycle. Advantage Partners Solutions is one of seven specialized subsidiaries operating under Ascend Companies, Inc. Two of those subsidiaries extend the value of the APS relationship in ways worth knowing about. Inflooens helps mortgage professionals stay connected to borrowers after the loan closes, converting past clients into future pipeline. American Reporting Company brings credit reporting, appraisal management, and lending education together under a single trusted name, helping lenders stay current and move faster. The network is purpose-built for mortgage origination and servicing. Lenders, brokers, credit unions, and banks across the country are already working within it, and the relationship grows as far as your operation needs. Advantage Partners Solutions: Your mortgage solutions partner that gives you the advantage.

MBA data confirms homeowners are ready to tap their equity. If you aren’t offering your borrowers a HELOC, your competitors will. NFTYDoor lets you launch a turnkey HELOC product instantly with zero operational overhead or warehouse lines required. We handle the entire pipeline, from underwriting and processing to closing, delivering close times from 0-6 days. With an expanded buy box (600+ FICO, 90 percent CLTV, $750K max) and an AI + human-in-the-loop workflow, NFTYDoor closes 2.5x more deals than alternative solutions. Stop losing borrowers to the competition. Get started at nftydoor.com/partner-application.

Less back-and-forth. More first-time-right verifications. Truework replaces manual verification waterfalls with a single automated platform, so underwriters, LOs, and ops can cut down the document chasing, conflicting numbers, and last-minute corrections. Lenders see up to 50 percent cost savings on verifications, with faster turn times, higher accuracy, and stronger R&W relief. Trusted by 4 of the top 5 lenders in the U.S., Truework gives your team verification results they can rely on. Learn more.

In terms of webcasts, Now Next Later is today at 1PM ET. Eric Lapin and guest host Wendy Lee are joined by Andrew Wang, CEO and Co-Founder of Valon, to discuss how AI is transforming mortgage servicing. The conversation explores operational efficiencies, customer engagement, compliance considerations, and the future role of AI in servicing.

The Chrisman Marketplace is a centralized hub for vendors and service providers across the industry to be viewed by lenders in a very cost-effective manner. We’re adding new providers daily, so check back often to see what’s new. To reserve your place or learn more, contact us at info@chrismancommentary.com.

Agency changes, pushed along by the FHFA

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Freddie and Fannie, with their lion’s share of applications, are still the “game to beat” volume-wise. So, when they say “jump” the industry replies, “How high?”. Meanwhile, Agency gfees are being ratcheted up which is pushing lenders toward cash execution. Who’s doing what out there?

In May, Fannie Mae’s Selling Guide updates posted in Announcement SEL-2026-05 include remote online notarization requirements, single-closing construction-to-permanent loan modifications, IRS tax installment agreements, and co-op project eligibility.

Prepare for a seamless transition to the new Fannie Mae servicing platform. Review the latest frequently asked questions, data requirements, implementation timeline, and more to keep everything running smoothly.

In May, Fannie Mae posted SVC-2026-04 preparing you to streamline recordkeeping and save time with simpler requirements for remote online notarization video retention and digital management of Forms 1013 and 1014.

Get a head start on planning for the 2026 area median income (AMI) update. New AMI limits are coming to Desktop Underwriter®, Loan Delivery and more, effective June 13, 2026, affecting loan-level price adjustment (LLPA) waiver and loan eligibility. Details available in Fannie Mae’s Selling Notice.

Developed in response to lender feedback, new options and enhancements to Desktop Underwriter make the DU Findings report easier to integrate, faster to scan, and clearer to act on helping lenders reduce rework and move loans forward with more confidence. Read “The next evolution of the DU Findings report” for key information and integration impact memo.

Save time, stay aligned, and support borrowers with In Case You Missed It for the month of May. Get up to date on recent Selling and Servicing Guide updates, clarifications, and policy changes.

Pennymac updated Conventional LLPAs effective for all Best-Efforts Commitments taken on or after Monday, April 13, 2026. View Announcement 26-37 for details.

Freddie Mac Bulletin 2026-4 announced Selling Guide policy changes addressing multiple topics. AmeriHome Mortgage Product Announcement 20260409-CL describes these changes, including updates to credit underwriting and AmeriHome alignment with Freddie Mac Selling Guide updates.

Newrez participated in a Freddie Mac loan delivery limited engagement helping validate the operational readiness needed for the industry-wide announcement, demonstrating that VantageScore 4.0 can be leveraged for loans originated, underwritten, and delivered to a GSE.

Read the Press Release for more information.

Pennymac is aligning with multiple GSE changes regarding property insurance requirements as announced in Fannie Mae LL-2026-03 and Freddie Mac Bulletin 2026-C. These updates introduce targeted policy changes to provide greater flexibility and operational simplicity and are effective immediately. See Announcement 26-42 for more details.

Capital Markets: oil & inflation news outweighs old economic news

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Treasury markets ended last week with a modest rally despite another round of geopolitical uncertainty, and firmer-than-expected inflation data. The dominant driver remains the rapid repricing of energy markets, as growing expectations (and reports) of a U.S.-Iran agreement have pushed WTI crude back down toward $80+ per barrel, the lowest level since mid-April. Washington and Tehran continue to offer conflicting accounts regarding the details and durability of any agreement, while investors increasingly appear focused on the trajectory toward de-escalation rather than any setbacks that accompany negotiations. The prospect of a reopened Strait of Hormuz and reduced disruption to global energy flows has been sufficient to compress inflation risk premiums, helping long-term Treasury yields drift back toward the lower end of their recent trading ranges.

Rates have continued to rally in the face of data that would normally cause caution. May producer prices came in stronger than expected and components feeding into core PCE have firmed up; markets largely looked through the inflation data, but rather toward falling energy prices and the absence of meaningful spillover into broader core inflation measures. June’s preliminary University of Michigan survey surprised to the upside, with consumer sentiment rising to 48.9 from 44.8, while both current conditions and future expectations improved more than anticipated. Year-ahead inflation expectations fell to 4.6 percent and long-term expectations declined to 3.4 percent, their lowest levels in several months. While the moderation in inflation expectations provides some relief for the Fed, sentiment remains well below year-ago levels.

Investors appear increasingly convinced that the Federal Reserve retains the flexibility to remain patient, particularly as lower oil prices offset concerns about near-term inflation persistence. As a result, attention has shifted away from backward-looking economic releases and toward this week’s FOMC meeting, with developments in the Middle East now exerting greater influence over rate markets than either inflation data or Treasury supply. Yes, inflation remains elevated, but continued progress toward a ceasefire can sustain the recent decline in energy prices and extend the bond rally further. This week’s economic calendar will be highlighted by the first FOMC meeting led by its new Chair, Kevin Warsh. Expectations are for no change in fed funds rate, and for the meeting statement to strike a balanced tone by removing the easing bias from the prior statement, but not suggesting that policy tightening is imminent.

Today’s economic calendar kicked off with the June Empire State Manufacturing survey. Later today brings May Industrial Production and Capacity Utilization, and the June NAHB Housing Market Index. We begin the week with Agency MBS prices better than Friday’s close by about .125, depending on coupon and maturity, the 2-year yielding 4.05, and the 10-year yielding 4.45 after closing last week at 4.49 percent, down 5-basis points over the course of last week. Although stocks have improved, the bond market hasn’t done much with the war news.

If you think about your breathing or blinking too much, your brain will turn off autopilot and switch it to manual.

Visit www.ChrismanCommentary.com for more information on our industry partners, access archived commentaries, or subscribe to the Daily Mortgage News and Commentary. You can also explore the Chrisman Marketplace, a centralized hub connecting mortgage professionals with trusted vendors and solutions. If you’re interested, check out my periodic blog on the STRATMOR Group website. STRATMOR’s current blog is “Pricing That Can Help Borrowers.”  The Commentary’s podcast is available on all major platforms, including Apple and Spotify.

qoɹ & ǝᴉqqoɹ

(Market data provided in partnership with MBS Live. For free job postings and to view candidate resumes, visit the Chrisman Job Board. This newsletter is intended for sophisticated mortgage professionals only. There are no paid endorsements by me. For the latest mortgage news, visit Mortgage News Daily. For archived commentaries, or to subscribe, go to www.ChrismanCommentary.com. Copyright 2026 Chrisman LLC. All rights reserved. Paid job & product listings do appear. This report or any portion hereof may not be reprinted, sold, or redistributed without the written consent of Rob Chrisman. The views and opinions in this newsletter are mine alone unless otherwise specifically stated herein.)