My cat Myrtle was never a fan of the CFPB. “Rob, have you heard about this ‘humility pledge’ that the CFPB Examiners read to each supervised entity before conducting exams? What in the world?” Yup, nicknamed the ‘humiliation pledge,’ it’s been around about six months… I don’t know how it helps borrowers, but the CFPB is doing it. Strange times. President Trump has nominated Brian Johnson to run the CFPB. When Trump named Bill Pulte, the current head of the Federal Housing Finance Agency (which oversees Freddie Mac and Fannie Mae) as the interim director of national intelligence, people asked, “What in the world?” again. Pulte has no intelligence or national security experience, as required by law, or security clearance. But an intelligence background isn’t necessary for the task some say Trump is giving to Pulte: trying to prove the 2020 presidential election was stolen. Pulte is certainly distracted from overseeing F&F: President Donald Trump said in a Truth Social post that Bill Pulte would take over as acting director of national intelligence on June 19 and called for a short-term extension of a foreign surveillance program due to expire at the end of the week. (Today’s podcast can be found here and this week’s ‘casts are sponsored by JazzX, the first true end-to-end AI platform built for mortgage. From application to underwriting, JazzX is a new operating model that helps you scale growth, boost productivity, and transform how your team performs. Hear an interview with JazzX’s Jagjit Singh on how close the industry truly is to the end-to-end mortgage.)
Employment and transitions
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Growth doesn’t come from waiting on the market. It comes from having the products, marketing, and pricing to build business in every cycle. At Planet, originators have the product depth to win more deals across more property, income, and credit scenarios, from Non-QM and “Buy Now. Sell Later.” to renovation, manufactured housing, and one-time close construction. Dedicated Non-QM leadership, specialized underwriters, and scenario desks focus on helping originators structure more deals, not slowing them down. Competitive pricing and high-quality digital marketing help you win business today, while servicing retained in-house helps you build customers for life. Tired of piecing together solutions? Connect with Matt Payan (972-898-8577) to learn how Planet’s platform can build your business.
Logan Finance Corporation announced the appointment of 30-year vet Mark Luzi as Western Managing Director of Sales where he is reporting directly to COO Aaron Samples. “My job is to make sure brokers across the West know what Logan is capable of and feel that difference every time they work with us.”
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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On the PGA Tour, the player who enters Sunday’s final round in first place only goes on to win about one-third of the time. Getting close and finishing the job are two different things. Optimal Blue’s May Market Advantage report found a similar dynamic in mortgage pipelines: Purchase loans accounted for more than 81 percent of total lock volume, while refinance share fell to its lowest level since June 2025. But the more notable shift came after borrowers locked. Purchase pull-through fell 539 bps month over month, while refinance pull-through dropped 1,332 bps. On the secondary side, cash executions gained share at the expense of agency MBS executions in May. See the full scorecard here.
Equity Prime Mortgage (EPM) doubled their underwriting output without adding headcount. The key was rethinking where skilled underwriters actually spend their time. By embedding the ICE Mortgage Analyzers into their Encompass® workflow, EPM automated routine data validation and cut turn times from five to six days down to 24 hours. For lenders looking to scale, their story is a practical example of what the right tools, implemented with intention, can make possible. Read the customer story to see how they did it.
“Purchase volume is tight, and rates are not giving you much room to work with. So where are you finding your next deals? There is $34.5 trillion in home equity across the country, and $14.5 trillion of it sits with seniors. This is also the group driving a large share of today’s mortgage activity. But here is the challenge: many of these borrowers are boxed in by DTI ratios on traditional products. However, with a reverse mortgage, scenarios that would normally be dead ends could still be viable. Getting started comes down to recognizing these opportunities and knowing how to respond when they show up. Fill out the form, and we will reach out to walk you through it step by step. Finance of America | NMLS 2285”
Scotsman Guide just released its rankings for 2026 and AmeriHome was just named the #2 Correspondent Lender and #2 Overall Lender! AmeriHome’s Chief Production Officer, Steve Kolker, had this to say: “We are very proud to be included in the 2026 Scotsman Guide Top Mortgage Lender® Rankings. At AmeriHome, we believe that our client’s reputation is our business and we strive to deliver operational excellence that supports their long-term growth goals.” There’s no better time than now to partner with AmeriHome! Meet with the team this month at the OMBA Annual Conference and WAMP 2026 Golf Tournament or next month at CMBA Western Secondary! Click here to schedule a meeting with a sales executive. To catch up with AmeriHome later this year, check their events page to see where they’ll be throughout the rest of 2026, find your sales executive here, and follow AmeriHome Correspondent on LinkedIn to stay in-the-know.
“Every 90 seconds a new HOA lien is filed somewhere in the U.S. How many are on properties in your portfolio? Clayton’s HOA Lien Monitoring Service alerts servicers to HOA liens in their portfolios and then runs a second check on all properties in HOAs and COAs, just to make sure that the automated search hasn’t missed any liens. When a lien is found, our team gets the latest payoff information from the HOA and checks again to make sure there are no other HOAs or lien-bearing entities on the property. Given what’s at stake, it’s worth asking how we can help. Contact the Clayton team to learn more about Clayton’s HOA Lien Monitoring Service.”
PlainsCapital Bank National Warehouse Lending, a subsidiary of Hilltop Holdings (NYSE: HTH), is committed to providing mortgage lenders with a sustainable funding source in an uncertain market. With over 30 years’ experience and a well-capitalized, diversified financial holding company. PlainsCapital Bank National Warehouse Lending provides confidence in meeting our mortgage lending partners’ funding needs. With exceptional operational performance, and a focus on relationship-driven business geared towards long-term success, we do not dwell on unnecessary fees. With PlainsCapital Bank National Warehouse Lending there are NO non-usage fees, NO application or renewal fees, NO third-party due diligence fees or Third-Party Doc Custodians and NO interest charged on the day of loan settlement. If you are interested in learning more about PlainsCapital Bank National Warehouse Lending please contact Deric Barnett, (469)955-6786.
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.
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.
Webcasts coming up
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All from the comfort of your living room or office!
AI, Compliance & State Enforcement: What Lenders and Servicers Need to Know in 2026. Join compliance experts for the latest ACES QC Now webinar on June 17. ACES’ General Counsel and EVP of Compliance, Amanda Phillips, AVP of Compliance, Savannah Prout, and Reid Herlihy, Partner at Mitchell Sandler, will discuss the key developments shaping mortgage compliance in 2026, including AI governance requirements, UAD 3.6 implementation, and evolving federal and state mortgage servicing developments. Attendees will gain practical insight into building a compliance program prepared for these regulatory changes. Register for the webinar.
Join the USDA Thursday, June 11th from 2-3 PM ET for a live training on how to boost your GUS loan accuracy and speed.
The Big Picture is Thursday, June 11, at 3PM ET. Rich Swerbinsky and Rob Chrisman are joined by FirstTrust’s Glenn Strong to discuss the future of mortgage at scale. The conversation explores technology, innovation, and how lenders are adapting to changing borrower expectations and market dynamics.
Last Word is tomorrow, June 12 1PM ET. The weekly roundtable breaks down market signals, agency developments, and where the industry succeeded or failed. The discussion focuses on separating real insight from reaction as the market evolves.
Now Next Later is Monday, June 15 at 1PM ET with its focus on tech. Lenders One’s Mortgage Matters is Wednesday, June 17, at 2PM ET. We’ll discuss leadership, resilience, and purpose. The conversation explores lessons from his new book and how mindset, discipline, and values translate into performance and team building.
Join Shandor Whitcher, economist at Moody’s Analytics, for a data-driven look at the economic forces expected to shape housing and mortgage markets through the second half of 2026. This latest webinar in the complimentary October Research Economic Outlook series will be offered June 17. Drawing on Moody’s Analytics research and forecasting, Whitcher will discuss the indicators industry professionals should be watching in the months ahead and what they may signal for the housing market. Register today to stay up to date on the market forces affecting your business.
The Inaugural Women’s Professional Network Quarterly Meeting will be June 17th from 1-2PM ET. “This energizing and interactive session is designed to spark connection, inspire growth, and help shape the future of a new community built by women, for women in the credit union mortgage industry. Whether you are looking to expand your network, strengthen your leadership presence, or contribute ideas that will guide future programming, this meeting is an opportunity to connect with peers across the industry and be part of something meaningful from the very beginning. We’ll explore connecting with purpose through meaningful conversations and shared “level up” moments, leading with confidence by increasing visibility, influence, and leadership presence, and shaping what’s next through collaborative discussions around future webinars, events, and network initiatives.
Join Appraiser eLearning for the UAD 3.6 Bootcamp live in Dallas, Texas or virtually, from June 24th – 26th. This 14-hour CE course is split up into 7-hour blocks over 3 separate days. You’ll get to experience ScanToSketch within TOTAL for Mobile, an Appraiser’s Guide to the new URAR, and hear from each software provider about their UAD 3.6 solution.
There are the National MI, ARCH MI, MGIC, Essent, Radian, and Enact training calendars.
Chrisman Commentary is pleased to bring you video shows each day of the week, hosted on YouTube and LinkedIn (we are no longer using Zoom). Take your pick: We have a show focused on technology and innovation (Now Next Later, Mondays at 1pm ET), advisory services (Advisory Angle, first Tuesday of the month at 2pm ET), capital markets (Capital Markets Wrap, second Wednesday of the month at 3pm ET), mortgage legal issues (Mortgage Law Today, third Tuesday of the month at 3pm ET), reaching the next generation of homeowners (Mortgages With Millennials, last Tuesday of the month at 1pm ET), artificial intelligence (The AI Show, first Wednesday of the month at 3pm ET), credit (Credit Committee, third Wednesday of the month at 3pm ET), servicing (Recapture Wars, fourth Wednesday of the month at 3pm ET), mortgage leadership (Mortgage Matters, Wednesdays at 2pm ET), headline news (The Big Picture, Thursdays at 3pm ET), and opinion (Last Word, Fridays at 1pm ET). Please reach out to Chrisman LLC’s Anjelica Nixt to inquire about sponsorship opportunities.
Capital Markets: inflation numbers drive bonds and stocks
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With mortgage markets continuing to navigate rate volatility, margin pressure, and shifting production dynamics, effective pipeline risk management remains a top priority for capital markets teams. To gain a practical understanding of the two most widely used mortgage pipeline hedging strategies, download MCT’s latest whitepaper, Overview of TBA vs. Note Rate Hedging. In this whitepaper, MCT’s Senior Trader, Christian Steigelmann, explores the foundational concepts of pipeline hedging, compares the characteristics and applications of To-Be-Announced Mortgage-Backed Securities (TBA MBS) and note rate forward contracts, and highlights key considerations for selecting the approach that best fits your organization’s objectives. Whether you’re evaluating your current hedge strategy or building a more scalable secondary marketing operation, this guide provides valuable insights to help align hedging practices with your business model, risk tolerance, and operational goals.
Yes, President Trump stated that he “loves the inflation.” May’s Consumer Price Index report largely met expectations, with headline inflation rising 0.5 percent month-over-month and 4.2 percent year-over-year, driven primarily by higher energy and shelter costs, while core CPI increased a softer-than-expected 0.2 percent on the month. Although the annual core inflation rate edged higher to 2.9 percent from 2.8 percent in April, underlying price pressures remain relatively contained, as core goods prices declined and services inflation moderated despite a 23 percent year-over-year increase in energy prices.
MBS and Treasury markets initially rallied on the cooler-than-expected core reading, viewing the data as slightly better than feared (rather than outright benign). Obviously, inflation forecasting remains complicated by ongoing geopolitical tensions and elevated energy costs that are likely to persist even if current supply disruptions ease. The report reinforces the Federal Reserve’s ability to remain patient in the near term, while determining whether the economy’s resilience can withstand an extended period of restrictive financial conditions without a meaningful slowdown in growth or employment.
After receiving consumer prices yesterday, today’s economic calendar kicked off with producer prices: May PPI was +1.1 percent, stronger than expected (prior 1.4 percent), Y-o-Y + 6.5 percent, Core PPI +.4 percent, as expected, +4.9 percent Y-o-Y. We’ve also received weekly jobless claims (229k, about as expected). Later today brings a $22 billion 30-year Treasury bond auction. Additionally, the European Central Bank raised interest rates today for the first time since 2023, by a quarter-point to 2.25 percent. In doing so, it became the first major central bank to hike in response to the Iran conflict. After the producer inflation numbers Agency MBS prices are a shade better than Wednesday’s close, the 2-year is yielding 4.15, and the 10-year is yielding 4.55 after closing yesterday at 4.54 percent.
What do you get when you ask a politician to tell “the truth, the whole truth, and nothing but the truth”?
Three different answers.
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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