July 13: Appraisal, mgt, LO jobs; Fraud report, AMC, non-QM products, eNote news; ROAD to Housing thoughts; Oil & rates

There are some crazy things, and odd people, out there, the combination of which can be amusing. (Don’t watch if you don’t like unexpected mice.) I guess that is a social media post, but are you tired of posting, or reading social media posts? You’re not alone, and a new poll shows people have grown weary of both. Other posts, however, are very useful, especially if you want to save $300 per loan. MISMO released its new white paper, “From Paper to Performance: How eNotes and eClosing Streamline Liquidity,” providing guidance for originators, warehouse lenders, investors, and technology providers to implement digital mortgage solutions. Today at 10AM PT is Now Next Later, presented by Relcu, where Jeremy Potter and Eric Lapin are joined by Laura Kornhauser, CEO of Stratyfy, to discuss the evolving role of AI in mortgage and financial services. The conversation explores how lenders can use AI to improve risk assessment, strengthen decision making, and balance innovation with governance and regulatory expectations. (Today’s podcast can be found here… this week’s ‘casts are sponsored by Zillow Home Loans, Zillow’s in-house mortgage lender. By integrating Zillow’s real estate platform with financing, Zillow Home Loans helps buyers move from dreaming about a home to holding the keys, and loan officers focus on guiding buyers with care and confidence. Today’s has an interview with Zillow Home Loans’ Eric Wilson on how the company is guiding buyers, helping them move from pre-approval through closing with support from centralized processing, underwriting, and closing teams.)

Employment coast to coast

_________________________________________________

Truist Mortgage is conducting a targeted search for a Retail Regional Sales Manager in Atlanta, one of its most strategic growth markets. This flagship leadership role offers substantial opportunity: driving production, recruiting high-performing MLO teams, recruiting/developing top mortgage talent, expanding realtor and builder partnerships, and advancing Fair Lending priorities across the market. This is a high-impact position with strong visibility and significant performance-based upside. This position offers a competitive base salary plus a leadership incentive tied to team performance, recruiting and productivity. Truist is an equal opportunity employer. Apply today!

“TD Bank Mortgage is growing, we’re hiring top loan officers, and we offer a competitive range of products for all client types, including Conforming, Jumbo, Super Jumbo, Physician Loans, Construction-to-Permanent, and Cross-Border lending. This empowers us to serve a wide range of clients, from first-time homebuyers to high-net-worth borrowers. As the 10th largest U.S. bank, we provide the scale and brand strength to help originators succeed and are actively expanding portfolio and conforming lending. This creates exceptional opportunities for high-performing Mortgage Loan Officers looking to take their production to the next level. TD MLOs generate an average of 37 percent higher annual production than their peers, competitive compensation and strong operational support, experienced, stable sales leadership with an average tenure of 11+ years, and proven growth strategies and career development leading to one of the lowest MLO turnover rates in the industry. We are seeking experienced MLOs producing a minimum of $15 million annually to join our expanding team in NY, NJ, MA, CT, PA, FL, SC, NC, RI, ME, NH, VT, DC, VA, DE, and MD. We’d love to connect.”

Zillow Home Loans is hiring Mortgage Loan Officers across the country. Zillow Home Loans’ loan officers are backed by Zillow’s industry-leading technology and the most-visited real estate platform in the U.S. They provide leads from buyers who are already shopping for homes in their ecosystem and are ready to move. In this role, you’ll guide buyers with care and confidence, helping them move from pre-approval through closing with support from centralized processing, underwriting, and closing teams. Join a company that’s reshaping an industry and helping more people make home a reality. Zillow was named a FORTUNE 100 Best Company to Work For® in 2025. Now hiring remotely in select locations. See open roles here. (Equal Housing Lender, NMLS #10287)

“We are hiring for the Appraisal Section Manager in Residential Lending!” TD Bank is transforming its Residential Lending Appraisal and Valuations business and we’re looking for the right leader to get us there! This role is fast paced, supports mortgage and home equity operations along with the servicing and default management teams. The right leader will be an experienced people manager who can lead change through others while continuing to deliver on the fundamentals of the appraisal and valuation process. Are you right for the job? Check these boxes: Puts the customer at the center of everything they do; Strong people leader that can develop and guide large teams through change; Experienced in partnering with sales teams; and well versed in appraisal laws, rules, regulations, and requirements. If you are the right person, please email Devan Wallace.

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.

Lender and broker software, products, and services

_________________________________________________

NFTYDoor just lowered its HELOC rates (again!). Lenders looking to capture more home equity volume can now offer their borrowers lower HELOC rates through NFTYDoor. NFTYDoor just lowered rates (again), delivering sharper pricing with the same flexible buy box built to say “yes” (600+ FICO, up to 90 percent CLTV, and loan amounts up to $750K). Because NFTYDoor manages the full origination lifecycle from underwriting, processing, closing, and title curative, you can add a high-demand product without adding staff or infrastructure. Get your borrowers closing in as little as ZERO days! (6 days on average) with hospitality-grade human support on every file. Onboarding is quick, allowing you to pass these savings on to your clients immediately. Apply today at nftydoor.com/partner-application.

Most AI tools can generate answers, yet few can explain how they arrived at them. For lenders operating in a regulated environment, that’s a problem. JazzX AI was built with governance at its core. Every decision follows a traceable chain of policy, evidence, reasoning, and outcome. Investor overlays, lending guidelines, SOPs, authority matrices, and compliance requirements become part of the decision-making process. Schedule a call with our team to learn how JazzX helps lenders build governed AI for mortgage execution.

Somewhere along the way, the mortgage servicing industry forgot that people are at both ends of this transaction. Automated queues. Ticket systems. Response windows measured in days. An industry that optimized for efficiency and quietly sacrificed the human relationships that make this business work. MSF Servicing chose differently. Every client and every borrower reaches a live, experienced professional. Same-day response. Twenty-four-hour follow-up. Consistent, personal accountability… not because it scales perfectly, but because it’s the right way to operate. Integrity isn’t a marketing word here. It’s the operating standard. MSF Servicing. Premier servicing. Personal accountability. Reach a real person today: Rick Smith (860-989-9006).

July is the perfect time to grow your pipeline with Spring EQ (NMLS #1464945). For a limited time, receive 100 bps off eligible non-QM loans, giving you even more competitive pricing to help win business from self-employed borrowers and real estate investors. Reconnect with borrowers who may have paused due to pricing, but don’t wait. This July-only promotion is near the halfway point! Spring EQ is also hosting its next webinar tomorrow at 2:00 p.m. ET: Mid-Year Market Outlook: Unlocking Growth in Today’s Mortgage Market, featuring Joe Steffa, CEO, and Adam Warren, VP, Head of Capital Markets. Learn what’s driving today’s mortgage market, hear the latest capital markets insights, explore opportunities in home equity and non-QM lending, and get actionable strategies for the second half of the year. Register here. Visit EMMA to price, process, and manage your loans. Not a partner? Join here: Wholesale or Correspondent.

Want to get More Loans in the Pipeline this Summer? LoanStream is offering July Specials with up to 25 Price Improvement on Non-QM and Government loans. Includes non-QM 25 BPS on Non-QM including Closed End Seconds and DSCR 5-8 and Government loans (FHA, VA and USDA) pricing improvements with 25 BPS on FHA, VA and USDA, FICO 600+ Non-Select Standard & High Balance (excludes DPA and CalHFA), 12.5 BPS on FHA, VA, USDA Select, including Standard and High Balance plus includes FHA Streamlines and VA IRRRLs. For loans locked 7/1 – 7/31, 2026. Learn more. Ready to beef up on your non-QM DSCR knowledge? Join an upcoming webinar on DSCR Fusion which allows rental income and assets to qualify and DSCR 5-8 programs. Register now to secure a spot!

FundingShield, the leader in wire & title fraud prevention, released its Q2‑2026 Wire Fraud Analytics & Risk Report showing 45.32 percent of transactions across a $120.7B+ monitored portfolio carried material wire and title-related defects. As cyber and fidelity insurance premiums rise industry-wide and private credit markets push toward daily pricing and secondary liquidity, lenders, investors, and carriers are converging on the same demand: verified, source-level data before capital moves. CPL issues impacted 47.45 percent of transactions; CPL validation issues appeared at 6.45 percent, and insurance-related issues reached 1.44 percent. “AI is accelerating both innovation and fraud. The growth of our platform, our expanding partnership network, and increasing industry adoption underscore a simple reality: in a world of AI-driven fraud and growing regulatory expectations, independently verified data has become the new foundation of trust.” said Ike Suri, CEO of FundingShield. Contact Sales@fundingshield.com for demos or trials. Meet at Western Secondary Market Conference (Aug 10–12, Palos Verdes, CA at the Terranea Resort).

Truework, a Checkr Company is the unified income, employment, and asset verification platform built for mortgage lenders, replacing slow, manual processes with fast and automated reports pulled directly from payroll providers and other authoritative data sources. Lenders see up to 50 percent cost savings on verifications, with faster turn times and higher accuracy. Trusted by 4 of the top 5 lenders in the US, Truework delivers verification results your team can rely on. Learn more.

With UAD 3.6 on the horizon, the real estate valuation is evolving. If your AMC hasn’t enhanced its offerings to leverage modern tools like AI-powered machine learning and optical character recognition, you’re missing out on distinct advantages to streamline the appraisal process. Your AMC shouldn’t be playing catch-up but rather leading the shift to UAD 3.6. With 45 years of experience under our belt, PCV Murcor is already there and built for what’s next! Experience innovation-powered precision and time-tested excellence by visiting here.

Your next borrower might ask ChatGPT about their loan estimate before they ask you. On July 30 at 1 PM ET, LenderLogix is hosting Originating in the Age of the Next-Gen Homebuyer, a live webinar featuring Kristin Messerli, Executive Director & Co-Founder of FirstHome IQ, and Patrick O’Brien, CEO & Co-Founder of LenderLogix. They’ll discuss what Gen Z and Millennial homebuyers expect from the mortgage experience, why trust is harder to earn, how misinformation is shaping the borrower journey, and how lenders can use technology to create more clarity without replacing the human guidance that still matters most. Register here.

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.

21^st Century ROAD to Housing Act

_________________________________________________

The 21st Century ROAD to Housing Act became law since it wasn’t vetoed by President Trump on Friday. (Here’s an announcement from Sen. Mike Crapo about the new law: House Financial Services Committee news, and Senate passage and bill overview). Miki Adams, the president of correspondent investor CBC Mortgage Agency known for its down payment assistance, has some thoughts.

“For many hardworking families, the biggest barrier to homeownership is not qualifying for a mortgage, but assembling the cash needed to close. CBC Mortgage Agency commends the policymakers behind this effort, including Senator Elizabeth Warren, Senate Banking Committee Chairman Tim Scott, House Financial Services Committee Chairman French Hill, and Ranking Member Maxine Waters, for recognizing the importance of down payment assistance, closing cost support, and other practical tools that help qualified buyers achieve sustainable homeownership.

“Homeownership remains one of the most effective ways to build generational wealth, yet the upfront costs of buying a home continue to keep too many families on the sidelines. The ROAD to Housing Act recognizes that down payment and closing cost assistance are the bridge between a loan approval and a set of keys. CBC Mortgage Agency appreciates the bipartisan effort toward solutions that help first-time buyers overcome affordability hurdles, so they can begin building equity sooner.

“Down payment assistance has a proven track record of helping responsible borrowers become successful homeowners while strengthening neighborhoods and local economies. CBC Mortgage Agency applauds today’s passage of the ROAD to Housing Act, which addresses both housing supply and the upfront costs that keep creditworthy buyers from getting to the closing table.” Thank you, Miki.

Capital markets: why have rates gone up?

_________________________________________________

Executive summary… As Adam Quinones put it, “Rates moved higher last week as investors absorbed another round of geopolitical stress and the inflation imperative that comes with it. Another breakdown in the U.S.-Iran ceasefire, along with renewed hostilities around the Strait of Hormuz, pushed crude materially upward and kept the Treasury complex on the defensive. Oil finished the week nearly 7 percent more expensive, helping lift the 10-year Treasury yield by 7 basis points and leaving the 2s/10s curve slightly steeper. This was not the kind of geopolitical tapebomb event where Treasuries caught a safe-haven bid. Energy prices were the bigger story, and investors treated higher oil as a tax on duration rather than a reason to hide in it.”

Yet MBS and U.S. Treasuries ended Friday on firmer footing after a week of heavy selling and volatility, with shorter-term yields rising to near 2026 highs despite light news, no economic data, and falling oil prices, while longer-term yields increased more modestly and remained over 10-basis points below their yearly peaks. Treasuries enter this week helped by oversold technical conditions (there is a view that last week’s rise in yields may have overshot the underlying fundamentals), stable oil prices, and easing concerns that renewed Middle East hostilities will generate a sustained inflation shock. Strong demand across last week’s Treasury auctions was proof of investor appetite for duration (like MBS), suggesting more comfort with current yield levels.

The June Federal Open Market Committee Minutes also tempered expectations for near-term policy tightening, indicating that while officials remain concerned about inflation from energy, tariffs, and AI-related investment, any additional rate hikes would require clear evidence that those pressures are becoming broader and more persistent. The markets continue to view a rate hike this month as unlikely, leaving the Fed in a position to monitor incoming data rather than rush into further tightening. Investors also took comfort in the Minutes’ continued level of detail, signaling that although Chair Warsh has reduced forward guidance in official statements, the Fed remains committed to providing transparency around its policy discussions.

Today has zip for scheduled economic news but tomorrow has the June Consumer Price Index report and Fed Chair Warsh’s semiannual congressional testimony, both of which should help shape expectations for the remainder of the year. A benign CPI inflation reading (expectations are for 0.2 percent decline in the headline number is forecast following a significant decline in the price of oil goods) would reinforce the view that recent energy volatility has yet to meaningfully spill into broader prices. Warsh is likely to maintain his emphasis on price stability without offering explicit guidance on future rate decisions. With little scheduled economic data and summer trading volumes remaining light, Treasury performance is likely to be driven more by technical factors, oil prices, and any new geopolitical headlines than by changes in the underlying economic outlook.

This week’s economic calendar has the CPI and June PPI; other scheduled releases include small business optimism, regional manufacturing surveys, jobless claims, housing data, industrial production, consumer sentiment, and the Fed’s Beige Book. Throw in some short-duration Treasury auctions and remarks from Fed members Bowman and Waller and that’s it. We begin the week with Agency MBS prices slightly down from Friday’s close, the 2-year yielding 4.23, and the 10-year yielding 4.58 after closing last week at 4.57 percent (up 8-basis points over the course of the week) based on the Iranian war talk.

Mike M. reports, “A Mexican magician was doing a magic trick at a kid’s birthday. He said he’ll disappear at the count of three. “Uno, dos…” and poof! He was gone without a tres.”

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.)