I was speaking with a friend recently, and I asked her what she does for lunch. She replied, “Zentangle.” Yup, it’s a thing, something that wasn’t around when I was a kid. When I was a kid, people living on the street were known as homeless. Now the term is the “unhoused.” When I was a kid, any vacant house was usually creepy and rumored to have someone living there eating cat food. Now… of the nearly 150 million housing units in the United States, over 10 percent are vacant. Approximately 89.7 percent of the housing units in the United States in the first quarter 2026 were occupied, per the Census Bureau, and 10.3 percent were vacant. (Owner-occupied housing units made up 59 percent of total housing units, while renter-occupied units made up 31 percent of the inventory.) Granted, there are various reasons a unit is vacant, but my guess is that some of them could be sold to someone who really wanted them. (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 Bank of Oklahoma’s Chris Maloney on Agency MBS performance, and what investors are watching regarding how normalization in mortgage rates and housing conditions will influence speeds, supply, and valuations going forward.)
Employment
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Scotsman Guide has named Jackie Wampler the top-ranked female veteran originator! Primis Mortgage is thrilled to highlight Jackie Wampler as Scotsman Guide’s highest-ranked female veteran mortgage originator. She ranked No. 8 nationally on the 2026 Top Veterans Originators list, generating $116,206,195 in loan volume across 346 closed loans. A U.S. Army veteran, Wampler is known for helping homebuyers navigate the mortgage process with confidence while delivering next-level results for her clients and referral partners. This recognition marks her second consecutive year as the highest-ranked female veteran in this category. “Jackie consistently raises the bar for what excellence looks like in our industry and exemplifies the commitment to service that defines our culture at Primis Mortgage,” said Chris Blevins, national sales director at Primis Mortgage. Top-producing loan officers ready to grow their careers with Primis can learn more here.
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
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Accountability without a name attached to it isn’t accountability. It’s a policy. Real accountability means someone owns the relationship. One dedicated manager. One consistent point of contact. Direct access to executive leadership when the situation calls for it. And the ability to structure dedicated FTE around your account when your business demands it. At MSF Servicing, every engagement is built on transparency, continuity, and shared decision-making. You always know who is responsible, what is being done, and why. No surprises. No runarounds. No explaining your portfolio to someone new every quarter. Your relationship deserves an owner. Ours do. MSF Servicing. Premier servicing. Personal accountability. Ask about dedicated account structure: Rick Smith (860) 989-9006.
“The lenders that create lasting competitive advantage won’t simply buy AI, they’ll own the intelligence that powers their business. That’s why we built the JazzX AI Platform: While others are buying AI tools, forward-thinking lenders are building intelligence assets that learn from every loan, evolve with the business, and become more valuable over time. JazzX helps lenders build a governed system of intelligence above their existing LOS and enterprise systems – giving them the ability to create and extend their own AI assistants, agents, workflows, policy logic, and reasoners around the way they already operate. Ready to own your technology and own the future of mortgage lending? Schedule a call with our team to learn about the JazzX platform.”
Waiting on the Fed is not a business plan. The originators winning purchase business right now stopped watching the ten-year and started building something rate can’t touch: a brand home buyers and agents seek out, a referral engine that compounds, and a process that wins the deal before price ever comes up. That’s the premise of the NMP Ignite Session: “Winning the Purchase Market in 2026,” happening Tuesday, July 21 at 1PM ET, where JP Dennis (C2 Financial), Lucas Adams (Kalani Capital LLC), and Samir Dedhia (SD Capital Funding) take the originator hot seat. They’ll explain how they turn every closing into the next three deals, where AI is actually earning its keep, and what to say when a borrower waves a lower rate in your face. Register for free here.
“Flood certificates with zero hassles. Onboarding a new enterprise vendor just to order three flood certificates a month is an operational bottleneck you do not need. Cotality clears this path with our self-service Pre-Paid Flood Certificate portal, designed to keep your community bank or credit union moving quickly. You get an official Standard Flood Hazard Determination Form, access to an interactive map, and a downloadable flood map exhibit instantly with a simple credit card checkout. There is nothing to negotiate, no minimum monthly volumes to hit, and no setup delays. It is the decisive, on-demand compliance tool that empowers your operations team to close loans on your own timeline. Learn more.”
A compass needle senses Earth’s magnetic field and swings toward true north the instant it’s moved, whether it’s in a ship’s cabin, hiker’s pocket, or on your phone (try it for yourself). nCino’s Mortgage Point of Sale provides that constant point of reference for Cornerstone First Mortgage. The lender has grown to nearly 130 branches across 49 states, each with its own local brand and way of working. Cornerstone chose nCino because it gives every branch the same bearing while letting each preserve its own identity. The result is a fast, consistent, mobile-friendly borrower experience, no matter where a loan begins. See how Cornerstone keeps every branch moving in the same direction.
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.
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.
Correspondent & wholesale products
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Tomorrow is National Mortgage Brokers Day, and Orion Lending is celebrating YOU! For today only (Friday, July 17th) we’re waiving all underwriting fees on loans uploaded by end of day. Orion is here to help you serve more borrowers with a powerful mix of competitively priced Agency, Non-QM, DSCR, and Jumbo programs, including our exclusive Titan MD 100 percent Doctor Financing Program, designed for physician borrowers, along with proprietary Boost Down Payment Assistance™ featuring both forgivable and repayable second options. With Hybrid eClose available in STAR Portal, you’ll spend less time at the closing table and more time scaling your business. Not approved with Orion? Get Express Approved today and start submitting loans before the day ends. Plus, new brokers can take advantage of our 30 BPS Pricing Special on Titan Flex, and COIN DSCR. This is your moment to go full throttle… Upload your loans today and experience the Orion difference!
Good news for brokers: PRMG is advancing its proprietary Loan Express Originator platform, LEO, with recent seven-figure investments designed to modernize and future-proof the loan origination experience. Built by Originators, for Originators, LEO gives PRMG’s retail, wholesale, and correspondent teams a secure, mobile-responsive platform with simplified URLA validations, clearer pre-underwriting requirements, transformed e-signing, real-time key date updates and greater loan officer control from disclosures through underwriting submission. “As PRMG celebrates its 25-year anniversary as a multichannel lender, we still put originators first,” said Kevin Peranio, PRMG Chief Lending Officer. “LEO allows us to plug into multiple AI platforms so originators can be served the way they want to be served. We believe AI should help drive revenue and retain our operations teammates, not just cut costs. There is an abundance of business, and we freely collaborate with competitors to help local originators and Realtors continue to dominate.” Contact: Paul Lucido, Chief Culture and Brand Communication Officer.
“Do you really know your Down Payment Assistance provider? DPA demands a higher level of servicer performance, liquidity, and operational precision that not every provider can deliver, meaning your choice of correspondent partner can put your borrowers, referral pipeline, and reputation at risk. At Click n’ Close, we deliver confidence where it counts. As an FHA Tier 1 servicer, we keep more of your borrowers current by servicing first- and second-lien loans together, providing them with a seamless experience while mitigating EPD risk. Our deep liquidity and strong purchasing power mean we’re always ready to buy your first and second liens. With the widest DPA offerings in the market and operations driven by speed, efficiency, and precise execution, we deliver a best-in-class experience for you and your borrowers. Choose a DPA provider that performs at the highest level because your borrowers deserve the best. Contact us today to learn more.”
“The industry is getting bigger. But are originators benefiting? Every week brings another headline about a merger, acquisition, or lender shutting its doors. Companies are getting larger, but that doesn’t always mean loan officers have more opportunities. Growth should create momentum for the people driving the business. At Planet, growth means investing where it matters most. Expanding our geographic footprint, enhancing technology that helps originators sell more, not replacing them, and delivering the products, pricing, and marketing support that help loan officers grow their business. If you’re looking for a company that’s investing in your future, not just its balance sheet, let’s have a conversation. Matt Payan mpayan@PlanetHomeLending.com 972-898-8577.
You already run LP AUS on every conventional loan. Now that one step does more. With Fetch & Close, eligible files are automatically flagged for streamlined employment and income validation: no separate request, no additional upload, no added cost, and no more waiting on a manual verbal VOE. It’s built directly into the Kwikie process, so there’s nothing new to add to your day. The result: less paperwork chasing borrowers and employers, and fewer manual touchpoints between submission and closing. Fetch & Close doesn’t change how you work, it just removes a few of the steps that used to slow you down. Ask your Kind Account Executive how Fetch & Close applies to your pipeline. Not an approved broker? Join the Kind movement and discover why more brokers are choosing Kind. Not all loans are eligible. Eligibility is based on LP AUS findings.
AI’s ripple effect is being felt… AI governance is a thing
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Today on the Last Word at 10AM PT, Brian Vieaux, Kevin Peranio, Christy Soukhamneut, and Coby Hakalir break down the week’s biggest market signals, agency developments, AI’s impact on lenders, and industry storylines. The discussion focuses on what the industry got right, what it missed, and what lenders should be watching next.
Everyone in mortgage is talking about the GSE AI mandates: Freddie Mac’s AI/ML governance framework, which went live on March 3; Fannie Mae’s LL-2026-04, which takes effect on August 6; and the growing number of conference panels urging lenders to inventory their AI. However, very few are explaining how to conduct that inventory in terms that C-suite executives can easily understand.
According to James Brody of Brody Gapp, “the industry should not have to learn how to comply with the AI mandates being issued by the agencies and a patchwork of developing state laws through consent orders, repurchase claims, and lawsuits filed by the plaintiffs’ bar.” Instead, Mr. Brody notes that his firm, organizations such as MISMO, and others have been working to help bring the industry into compliance and establish a much-needed baseline.
As part of that effort, Brody Gapp, which performed the first AI Governance Limited Attestation for Friday Harbor (an AI pre-underwriting platform), and whose founding partners co-authored the forthcoming Mortgage Bankers AI Governance Guide, just released “The AI Vendor Inventory Letter.” The package includes a draft vendor letter, disclosure schedule, six-category vendor map, tracker, model risk tier, response-routing rules, and Phase Two triggers. Mr. Brody adds that, as vendors begin receiving these types of requests, many will need guidance on how to respond. To that end, his firm will continue performing privileged audits for vendors seeking to differentiate themselves by building AI-driven efficiency tools that are both safe and compliant, supported by its limited attestation audits.
For more information on inventorying your company’s AI and adopting efficiencies in a compliant manner, you can access a copy of the Brody Gapp Newsletter or contact Mr. Brody directly at (415) 246-3995.
Capital markets: mortgage rates hit 2026 highs
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Mortgage rates track Treasury yields, and a wavering stock market, a retreat in oil prices (despite more “saber rattling” by Iran), and some technical resistance as the 10-year note yield challenged the 4.60 percent level all contributed to Treasury yield movements; the broader bond rally remains intact after softer-than-expected June CPI and PPI data released earlier this week effectively removed expectations for a July Fed rate hike.
On the data front, let’s turn to Dr. Elliot Eisenberg. “June month-over-month retail sales rose solidly at 0.2 percent with May revised upwards, weekly first-time unemployment claims remained very low at 208k, the July Philadelphia Fed Manufacturing Index soared to 41.4, and the Empire State Manufacturing Index jumped to 15.6. Add inflation that in May/June was listless, a Beige Book that’s decent, and Small Business Optimism that rose. All this points to continued economic resilience and no rate hike anytime soon.” (ed. note: odds currently sit at 10 percent for a hike later this month.)
Despite the encouraging June inflation data, Fed officials continue to stress that one month of softer readings is not enough to declare victory over inflation. Multiple policymakers (Kansas City Fed President Schmid, Dallas Fed President Logan, and Governor Cook) emphasized post-June CPI/PPI releases that persistent price pressures and energy-related risks could still warrant additional tightening. Markets currently view a September rate hike as roughly a coin flip and broadly expect the Fed to remain on hold, if… disinflation continues, the labor market remains resilient, and manufacturing data comes in positive. The Fed’s stated data-dependent approach means that market expectations for the policy path remain overly sensitive to each new economic release.
Today’s economic calendar is under way with June Housing Starts (1.43 million versus expected 1.33m, prior 1.18m) and Building Permits (1.37 million versus expected 1.40m, prior 1.41m), and June Import (+.3 percent) and Export Prices (-.6 percent, a prior reading of 1.3 percent), none of which moved rates. Later today brings June Industrial Production and Capacity Utilization, as well as the Preliminary July University of Michigan Consumer Sentiment Index. We begin Friday with Agency MBS prices better than Thursday’s close by .125-.250, the 2-year yielding 4.13, and the 10-year yielding 4.52 after closing yesterday at 4.57 percent… not based on any news but more of a technical bounce.
I was driving past a prison the other day.
Looking out my window, I glanced up and saw a dwarf scaling down a very tall fence. It was obvious he was breaking out of the prison!
I looked up at him, and he looked down at me and angrily yelled, “What the hell are you looking at?”
I drove away and thought to myself that was a little condescending.
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.)
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