Time flies. The last day of the third quarter. We just wrapped up Fat Bear Week 2026 in Alaska. (Congrats to Backpack.) Ringo Starr is 86 years old, and doing well: clean living, being active, and a sense of humor. I mention this because when he was born, a letter was 3 cents to mail. Do companies still have mailrooms and mail bags? Let’s dip into my “electronic mail bag” and see what some readers are thinking about. “Rob, the Administration has a choice in housing: keep prices high and protect existing owners, or let prices fall and restore affordability for the next generation. You can’t do both.” I agree. “Rob, regarding the new credit models… It seems like the one direct thing nobody wants to ask out loud is, ‘If you pull a set of FICO scores, and decide they are too low you pull a set of VantageScores and they barely qualify, so you go with that. Is that fraud? How is that different than seeing child support on a pay stub, so the LO just obtains a VOE and hope they don’t write it?” Good question. “Rob, the Trump Administration is accusing other countries of ‘stealing our AI.’ Can’t we ask our own AI how to make itself immune to that and stop it?” Good question… I don’t know. (Today’s podcast can be found here. This week’s ‘casts are presented by Gateless, intelligent automation that gives you the competitive edge. Gateless solutions reduce costs, deliver a superior borrower experience, and mitigate risk by automating tasks and decisions historically made by people. Today’s has an interview with Fairway Independent Mortgage’s Steve Jacobsen on the evolving nature of mortgage lending, product expansion, leadership and more.)
Tech & job platform; Executive available
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The best originators aren’t updating their LinkedIn. They’re quietly matching with lenders on mLOOP, anonymously, with zero risk to the job they have now. See who you’d match with.
This Fall market is ruthless, and a bloated P&L will cost you deals. Canopy Mortgage arms originators with true Corporate Discipline. By replacing expensive middle management with our proprietary NANO tech, our cost-to-fund is 34 percent lower than average. Pair that unbeatable pricing with our new Builder Forward Commitments and In-House DSCR to name a few, and you have the exact arsenal needed to dominate today’s tight market. Stop subsidizing your current lenders inefficiencies Call 385-273-0404 or Click Here to learn more and protect your pipeline.
“It’s nearly the 4th quarter. Margins are tight, sales are down, and you’re two years past modernizing the business and deploying the efficiencies needed for growth. Stop scrolling. Executive Operator seeking the next challenge. Not an ivory-tower executive. I’ve been inside the mess and know how to get out of it. Operator. Co-operator. Executive advisor. Trusted catalyst. Mortgage. FinTech. Enterprise operations. Sales. Compliance. Servicing. Digital transformation. I bring entrepreneurial thinking, proven discernment, and experience turning complex businesses and processes into understandable, executable strategies.
AI, LLMs, Bots, APIs, Apps, agentic SDR/SBR and humans… technology is a tool. The objective is revenue growth, increased company/channel value, and EBITDA. Transformation. Modernization. Pivot. GTM. Enterprise scale. Think big. Act with urgency. Take small, accountable steps. Make tough decisions and own them. Open to fractional, relocation, hybrid, or remote opportunities. For more information, contact Anjelica Nixt and please specify this opportunity.
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 brokers products, services, and software
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More and more warehouse lenders have chosen Greyhound by OptiFunder in recent months. Why? Lenders want a faster, simpler way to fund loans, with technology built for how their business actually works. That’s exactly what Greyhound delivers. Greyhound also connects directly with Genesis, OptiFunder’s platform for originators. Instead of passing wires, shipping requests, and exceptions across different systems, everyone works in the same ecosystem. Less friction, better security, fewer delays, faster funding. Today, originators use Genesis to fund 1 in 4 warehoused loans in the U.S. To every originator who has trusted us along the way, thank you. To every warehouse lender who’s joined recently, welcome aboard. And to every warehouse lender thinking about making the switch: now is the time. Whether you’re ready to keep the conversation going or want a first look at Greyhound, we’d love to connect. Click here to learn more or schedule time with our team.
Every home equity lender has experienced it. An application starts, a borrower stops responding, and somewhere between disclosures, eligibility reviews, and status updates, the loan loses momentum. That’s why FirstClose created Lender Portal within XpressEquity POS for MeridianLink Consumer LOS. Built for home equity lenders, it brings lead intake, eligibility evaluation, borrower engagement tracking, and loan visibility into a single view. Whether applications originate online, by phone, or in-branch, loan officers can see borrower activity, identify stalled loans before they go cold, and keep every opportunity moving forward. See how lenders are streamlining home equity lending from first inquiry to funding.
What if your client could buy their next home before selling their current home, and not worry about an early payoff penalty when that home sells? This is where a Symmetry 1st-lien HELOC can create a powerful purchase option. Here’s the scenario: Your client owns their current home free and clear and wants to purchase their next home. Many LOs hesitate to use traditional financing in this situation because they know the new loan may be paid off shortly after the current home sells, potentially creating concerns around early payoff penalties, EPOs, or investor requirements. With Symmetry Lending, a 1st-lien HELOC can be used as purchase money up to 80 percent LTV (additional program requirements apply), giving your clients the flexibility to pay down or pay off the HELOC once their previous home sells. The result? Your client gets the flexibility to purchase their next home first, while having a financing strategy that can adapt once their current home sells. A free-and-clear home + next-home purchase = a HELOC strategy worth considering. Have a scenario like this? Call your Symmetry AM! (For Mortgage Professional Use Only)
What If Your AI Knew Every Loan, Call, Text, Email, and Relationship? ChatGPT can answer a mortgage question. But it can’t tell an LO which Realtor has gone quiet, which loan is stalled by missing documents, or exactly who to call today and why. CANDID Coworker brings a 24/7 AI assistant and coach to every LO, grounded directly in your CRM, POS, SMS, Phone, Email, and client retention data. Instead of wasting valuable time clicking through disparate screens and creating reports, LOs simply ask questions like: “Which of my top Realtors haven’t sent a referral in 30 days?” “Who do I need to call back, and what should I say?” “Did John Smith complete his app and submit his pay stubs?” Coworker instantly turns the answers into a prioritized, actionable game plan. From resolving document bottlenecks to delivering daily coaching, CANDID Coworker moves LOs from raw data to targeted execution in seconds, driving organic volume and scaling pipeline performance without additional operational headcount. Schedule a discovery call today!
Calculating rental income often means waiting days for an appraiser-completed rent schedule or manually compiling rent estimates from public listing sites, adding unnecessary friction and expense to the loan file. Clear Capital recently enhanced its Rental AVM to give lenders an instant, model-governed alternative to the traditional Single-Family Comparable Rent Schedule (Form 1007) for validating market rent across 105 million U.S. properties… 92.5 percent of U.S. housing stock. Benchmarked against appraiser-completed rent schedules, recent testing with top lenders showed the updated model landed significantly closer to actual leased values. Lenders and investors can use it to qualify borrowers faster, streamline underwriting, or evaluate a portfolio, while reducing turn times from days to seconds and cutting hundreds of dollars per file in valuation costs. Explore how Clear Capital’s enhanced Rental AVM can modernize your rental income analysis.
The mortgage industry doesn’t need more data. It needs better, faster outcomes. IllumineX™, LoanCare’s groundbreaking new intelligence-to-action platform, enables LoanCare teams to anticipate borrower behavior, prioritize engagement opportunities, and recommend the next best action. By combining advanced AI, machine learning, and decades of servicing experience, LoanCare can identify borrower stress and refinance interest earlier and reach each borrower at the right time through the most effective communication channels. The result? Improved borrower experience, stronger cure rates, and better retention. Analyses that once took weeks or months can now happen in minutes and are built to meet industry governance and compliance standards. Whether you’re a lender, bank, credit union, or investor, meet with LoanCare at MBA Annual to discover how IllumineX is redefining what’s possible in servicing.
Policies are like milk: they look fine in the fridge until someone checks the date. If yours have been carried over year after year with only minor tweaks, they may no longer match how your team really operates, and examiners can tell when something has gone sour. New products, updated workflows, staffing changes, new vendors, or systems, or more than a year since your last full review are all signs it’s time for a refresh. Firstline Compliance closes the gap between policy and practice with customized, audit-ready revisions built around your actual processes, not generic templates. The result is documentation that’s accurate and ready for exam day. Heading into Q4, now’s the time to catch policy gaps before they become findings. Check the date on your policies, then contact Ashley Bradford to learn more at 469-717-4232.
“Looking for a Jumbo ARM product that can help you win more business? Many top producers at the premier IMBs are utilizing the recently enhanced 1st lien HELOC powered by Rhyze. Delivered through a fully delegated correspondent channel, loan officers at the nation’s largest IMBs can now offer line amounts up to $1.5M with the confidence of agency underwriting standards. A full 10-year draw window, with an IO period to match, and rates that win over most Jumbo ARM products available. Differentiate yourself by offering your clients a True HELOC in 1st-lien position, giving them the sophisticated financial flexibility they desire. Better product, rates, and experience for your client. Better pricing and brand reputation for you. To confirm your access, discuss a scenario, or learn how to win more business with a True HELOC, email us directly for fast response.”
Chrisman Demo Day is a free perk for all Chrisman Marketplace members. If you’re a technology or service provider and haven’t joined the Marketplace yet, reach out to Jake Perkins at info@chrismancommentary.com to 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.
An example of advocacy and action
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California MBA’s Disaster Recovery Forum demonstrates how advocacy can move beyond policy and into action. After helping advocate for California’s $100 million Disaster Rebuilding Fund, the association worked directly with state agencies, government offices, lenders, servicers, and technology partners to help turn that support into a practical path forward for disaster-affected homeowners. California MBA also led the development of a technology portal, powered by Prudent AI, that connects homeowners with participating lenders, including CMG Financial and Guild Mortgage.
On October 5 starting at 2PM PT, California MBA will bring together in Southern California, CalHFA, DFPI, the California Department of Insurance, the Los Angeles County Development Authority, the Contractors State License Board, the Los Angeles Department of Building and Safety, and other state and local partners. They will be joined by industry participants including Guild Mortgage, CMG Financial, Freedom Mortgage, PennyMac, Dovenmuehle and Cotality, as well as builders, insurers, and community organizations.
Together, these organizations will help identify gaps and delays in the rebuilding process, and provide a resource recovery open forum to improve coordination and provide disaster-affected homeowners with direct access to the agencies, programs, lenders, servicers and recovery professionals available to support them while announcement the rebuild fund being provided by CalHFA.
This is advocacy in action and a strong example of how California MBA is innovating advocacy through collaboration.
Capital markets: dramatic numbers on mortgage apps
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“Sell first, and ask questions later.” The bond selloff has intensified even as economic data has softened, revealing a growing disconnect between weaker growth and persistent upward pressure on long-term yields. Consumer confidence fell and JOLTS openings dropped to 7.08 million, yet the 10-year finished yesterday at 5.26 percent and the 30-year reached 5.62 percent, its highest level since 2002, with MBS losing roughly .250 and the 2s10s curve steepening to 37-basis points. Heavy corporate issuance, convexity hedging, positioning, and concerns over inflation and federal borrowing continued to pressure the long end of the yield curve.
Fed President Williams said there was no urgency after September’s hike and that policymakers could gather more information, while Governor Barr emphasized recalibrating policy to balance employment and inflation risks and return inflation to 2 percent in a timely manner. With rates technically oversold but lacking dip-buying impetus, the market needs either clear evidence of economic deterioration or a meaningful shift in the inflation/Fed outlook to sustain a rally. Resilient AI investment and risk-asset wealth effects continue to support growth, making Wednesday’s PCE data and Friday’s payrolls the key near-term tests for whether the long-end selloff can finally lose momentum.
Today’s economic calendar kicked off with Mortgage applications falling 6 percent in the week ending September 25, with refinancing down 9 percent week-over-week and a striking 56 percent below the same week last year, while purchase applications declined 4 percent seasonally adjusted and 14 percent year-over-year. The pullback reflects the impact of mortgage rates rising to their highest level in nearly three years, pushing borrowers to the sidelines, and signaling that elevated borrowing costs are increasingly weighing on both housing demand and refinancing activity.
We’ve also received September ADP Employment Change (+90k, better than expected), August Personal Income and spending (income was +.2 percent, spending +.9 percent), PCE Price Index (+.3 percent), the Core PCE Price Index (+.2 percent, +3.0 percent Y-o-Y), Q2 GDP – Third Estimate (+2.2 percent), and advance indicators. Later today brings September Chicago PMI, and remarks from Fed Governor Cook, Chicago Fed President Goolsbee, and Minneapolis Fed President Kashkari. We begin the day with Agency MBS prices improved from Tuesday’s close by .125-.250, the 2-year yielding 4.83, and the 10-year yielding 5.20 after closing yesterday at 5.26 percent, given the somewhat tame inflation data.
Inflation is everywhere!
A horse walks into a bar and asks for a Coke.
The bartender is very surprised, yet he picks a Coke from the fridge and puts it on the counter.
Horse: “Thanks. How much?”
Bartender: “T… ten… d… dollars”
The horse gets his wallet from the saddle and pays $10.
Bartender: “Sorry but… it’s the very first time a talking horse came into my bar.”
Horse: “First and last. TEN DOLLARS FOR A LOUSY COKE?”
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, “Those Monthly Payments Go Somewhere.” 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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