Son: “Dad, why is there a tobacco tax?” Dad: “So people smoke less.” Son: “Why is there an income tax?” Dad: ”Uh…” Parents serve an important role in educating, and then often helping, their children. The “Bank of Mom & Dad” is a thing. Lenders and MLOs have a deeper view of consumer behavior revealing patterns, trajectories, and resilience rather than simply balances and scores at a single point in time. Are Freddie and Fannie’s credit models seeing that two borrowers may appear identical on paper today, yet one may be steadily strengthening their financial position while the other is moving in the opposite direction? By incorporating trended credit data, rent payment history, and other indicators of financial responsibility that were once invisible, lenders have a huge opportunity to make more informed decisions based on how borrowers manage their obligations over time. Better data allows lenders, servicers, and investors to distinguish between misunderstood risk and genuine risk, reducing unnecessary friction while improving both access and risk management. As younger generations adopt new financial habits, manage multiple income streams, and engage with money in increasingly sophisticated ways, credit models must evolve alongside them. Credit modernization! (Today’s podcast can be found here and this week’s ‘casts are sponsored by Truework, a Checkr Company. Hear interview with Provident Bank’s Bruno Viscariello on how rate lock-in, changing consumer behavior, and rising ownership costs are reshaping housing demand, affordability, and lender value propositions.)
Employment
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“Great Opportunity at TD Bank: We’re Hiring for the Head of Appraisal and Valuations! 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.
PRMG continues to demonstrate its commitment to industry advocacy through active participation in the Mortgage Action Alliance and MAA Action Week. Over the past six years, PRMG has consistently ranked in the top 10 among MBA member companies during this important annual initiative, reflecting the strength of our team’s engagement and commitment to taking action. With Lara Rausch, PRMG SVP, Director of Credit and Product Development, serving as PRMG’s Membership Drive Captain, PRMG is helping mobilize awareness, participation, and advocacy around issues that impact the mortgage industry, our customers, and the communities we serve. This effort reinforces PRMG’s role as a proactive industry voice using its national platform to support meaningful progress in housing finance. As PRMG celebrates its 25-year milestone anniversary, we proudly pair our legacy of service and growth with continued advocacy, leadership, and action. Become an MAA member and take action today! Contact, Paul Lucido CCBCO, PRMG.
Movement Mortgage has earned a place inside Scotsman Guide’s top 10 national lenders, ranking No. 10 overall and No. 7 in retail. It marks the second consecutive year Movement has placed inside the top 10, backed by $20.4 billion in total loan volume and nearly 60,000 families helped into homes in 2025. Those results reflect a product mix built to serve borrowers across a wide range of financial situations, from veterans and first-time buyers to self-employed borrowers and those financing new construction, supported by a platform and culture designed for long-term growth. Interested in learning what Movement’s platform can do for your production? Email Brady.Yeager@movement.com for a confidential conversation.
ACC Mortgage is expanding its national wholesale team and hiring experienced Non-QM Account Executives who want a platform that can truly support their production. This is a well-capitalized lender with strong leadership, operational depth, and a track record of helping AEs grow real volume in the non-QM space. As the oldest non-QM lender in the marketplace, the company brings unmatched experience and stability to brokers and partners nationwide. The role is fully remote and relationship focused, giving you the ability to build and manage broker partners through calls and email while leveraging a strong CRM and marketing engine that keeps deals moving. Compensation is performance-driven with uncapped earnings, plus transition support designed to help you ramp quickly and confidently. If you are ready to plug into a lender that matches your hustle, reach out today.
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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American Heritage Lending has launched a limited-time 50 BPS pricing special for eligible Wholesale purchase transactions, now live in its Quick Pricer tool on AHL’s website and other pricing engines. The special applies to Purchase Transactions with a minimum loan amount of $300K, maximum 85% LTV, and is available for U.S. Citizens only. The pricing incentive is valid on new locks only and expires June 30 at 5pm PST. As affordability continues to challenge today’s homebuyers, aggressive pricing opportunities like this can help brokers improve borrower affordability, strengthen purchase offers, and stay competitive during the busy summer market. The pricing special is already reflected within the website pricing tool for eligible scenarios, making it easy for brokers to evaluate opportunities immediately. Brokers are encouraged to review their current pipelines and reach out to the AHL team to identify borrowers who may benefit from the temporary pricing enhancement. For more details, contact James Gueltzow or visit www.ahlendtpo.com.
There is a difference between deploying AI and governing it, and a loan file is the worst place to learn it the hard way. Dark Matter’s new whitepaper, anchored by their Chief Risk and Information Security Officer, Mike Housch, makes the case that AI in loan origination is only as trustworthy as the monitoring around it. Set it and forget it does not hold up when an agent is touching borrower data, and a regulator may ask what it did. Mike walks through how to keep AI agents auditable, source-traceable, and watched continuously, backed by zero-trust access and 24/7 monitoring. Read it here.
Heard the buzz around “modernizing LOS platforms”? MortgageFlex is leaning into that conversation with the rollout of LoanQuest, its new cloud-based loan origination system, and a key step toward delivering a true life-of-loan platform on a single technology stack. This isn’t just another upgrade. LoanQuest represents a full technology reset built on a modern cloud foundation, while maintaining the familiar user experience lenders rely on. Existing screens workflows remain intact, and the underlying database structure is preserved, minimizing disruption and easing adoption. All current capabilities have been carried forward, with enhancements including expanded PPE options, improved Java-based scripting, advanced SDK, and intelligent document processing via Alchemist. Workflow and agentic automation are powered by the N8N framework, supporting flexible automation with appropriate controls and governance. In a market debating “build, buy, or wait,” MortgageFlex is betting on modernization… without forcing lenders to start over. Contact John McCrea to learn more.
Over 93 percent of Americans now file their taxes electronically. There’s a reason: Few people want to spend their evenings deciphering 126 pages of tax filing instructions to find the deductions, credits and exceptions that apply to their situation. Mortgage lending has its own version of the tax code: thousands of pages of agency guidelines spread across Fannie Mae, Freddie Mac, FHA, VA, and USDA. nCino’s new Loan PreCheck uses AI to automatically evaluate borrower eligibility against all five agency guideline sets, returning confidence-scored eligibility assessments, guideline citations and recommended loan programs before the file ever reaches AUS. See how nCino is helping lenders spend less time interpreting rules and more time serving borrowers.
“Many of today’s lending scenarios involve a property in transition. A borrower may be renovating, purchasing land, preparing to build, or managing the timing between two homes. These situations often require financing solutions beyond standard mortgage products. Quorum Federal Credit Union offers Renovation HELOCs, Land Loans, and Bridge Loan HELOCs designed to help brokers address these evolving needs. And coming in July 2026, Quorum’s new Ground-up Construction HELOC will provide access to funds throughout each phase of construction. As borrowers pursue increasingly diverse homeownership goals, having the right financing tools can make a meaningful difference in how deals are structured and closed. Learn more.”
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.
Mortgage compliance teams don’t have an information problem. They have a time problem. Every day, compliance professionals spend hours searching regulations, reviewing guidance, validating interpretations, and answering questions from across the organization. The challenge isn’t finding information. It’s finding the right answer quickly and confidently. VAL was built for exactly that purpose. Powered by curated mortgage compliance content and designed specifically for lenders and servicers, VAL delivers source-backed answers with citations in seconds. Whether the question involves RESPA, servicing, Fair Lending, state regulations, or operational compliance, teams can move faster without sacrificing accuracy. The first 100 users who start a free 7-day trial will secure introductory pricing of $200 per month. After that, pricing increases. Start your free 7-Day Trial today.
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.
Planning your mortgage travel for 2026 and into 2027
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A good place for longer-term conference planning and for organizers to post their events is to start is here for in-person events in the future. Book those flights in advance… they’re not cheap and going up given the war in the Middle East. Lenders and vendors are casting a critical eye on ROI (return on investment) given how much it costs to send an individual thousands of miles away, week after week.
Next week is the Mastermind Summit where you will learn powerful, proven strategies that create real results regardless of market conditions. This year’s lineup of industry experts will show you step by step how to harness AI to generate high-quality leads, turn your database into a consistent revenue stream, build stronger realtor partnerships that last, and develop the leadership needed to scale your team with confidence. Make the decision to attend the Mastermind Summit 2026 in Las Vegas, June 24-26, and change the trajectory of your career and your life.
August 10-12, the California MBA hosts its fabled Western Secondary, not to be missed.
The Louisiana Mortgage Banker Association’s Annual Conference is August 16th-18th 2026 at the Hilton Capitol Center Downtown Baton Rouge.
Join MISMO August 24-27 in Reston, Virginia, for the MISMO Fall Summit, where mortgage industry leaders come together to collaborate, solve challenges, and advance the standards shaping the future of lending. Early bird pricing ends July 1st.
In September we have, in Hood River, Oregon, the PNMLC yearly conference from 9/13-9/15 as well as, in Dallas from 9/15-16, the LoanVision Innovation conference. (Watch for details.)
September 20 is the start of the yearly ACUMA conference, attracting credit unions and third-party providers from across the nation.
From 9/21-9/23 the NY MBA conference is at the Rivers Casino & Resort in Schenectady NY, close to the Albany International Airport.
10/4-10/6 in Ypslanti, near Detroit, the Michigan Mortgage Lenders Association is having its annual fete.
10/11-10/14 is the MBA “Annual”, this year in Chicago.
On 11/18, in St. Louis, we have the Mortgage Bankers Association of St. Louis annual luncheon, along with other events throughout the year, and on 11/19, in Kansas City, is the annual MBAKC luncheon. (Watch for details.)
Accounting and Financial Management!
The MBA has announced the 2027 IMB Conference, set for January 25-27, once again in Florida, this time in Tampa.
Then there’s 2/1-2/3 Optimal Blue in Scottsdale, 3/7-3/10, in Frisco, TX, L1, 3/15-3/17 in Las Vegas, NV, ICE, and 5/16-5/19 in Chicago the MBA’s National Secondary.
Capital Markets: low FICO mortgage MBS increasing
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With the bond markets closed today, those lenders putting out a rate sheet and taking locks either hedged their expected lock volume yesterday, priced conservatively, or both.
The recent flattening of the Treasury curve reflects growing confidence that inflation pressures are easing while the Fed remains committed to price stability. With 2s/10s falling below 25-basis points and potentially heading toward this year’s low near 16-basis points, investors are responding to lower oil and gasoline prices, improving Middle East conditions, and Warsh’s hawkish messaging, all of which have reduced medium-term inflation concerns.
Despite Fed Chair Warsh strongly emphasizing the Fed’s determination to control inflation, the market still sees a reasonable chance that further rate hikes will prove unnecessary if energy prices continue to moderate. The base case remains unchanged policy rates through 2027, but the new Fed leadership appears willing to adjust course based on incoming economic and inflation data.
Warsh began his tenure as Fed chairman with a solemn vow to curb inflation and a clear sign that he plans to swiftly revamp how the U.S. central bank does its job. What was missing was any clear guidance on what it means for interest rates. Traders quickly piled into bets that the Fed will raise interest rates sooner than had been expected: Investors now see the odds of a hike at the September meeting of the Federal Open Market Committee at more than 80 percent, and more than one move higher priced in for October. Before this week’s Fed meeting, traders didn’t see the likelihood of an increase until December.
Recent changes to conventional underwriting have increased the issuance of lower-FICO mortgages, with sub-700 borrowers accounting for a larger share of new UMBS 30-year production than in recent years. However, these loans still represent a relatively small portion of overall Agency supply, and there is little evidence of a broad expansion into deeply subprime lending. While investors should monitor the gradual rise in lower-credit borrowers, the average credit quality remains solid, and FICO-specified pools are unlikely to face a supply glut. The larger policy challenge is balancing expanded access to homeownership with prudent risk management, particularly given the strong historical relationship between lower credit scores and severe mortgage delinquencies.
Juneteenth (the name, first used in the 1890s, is a portmanteau of June and nineteenth) commemorates the ending of slavery in the United States. It was on June 19th, 1865, that the Union soldiers, led by Major General Gordon Granger, landed at Galveston, Texas with news that the war had ended and that the enslaved were now free, two and a half years after President Lincoln’s Emancipation Proclamation (which had become official January 1, 1863). The Emancipation Proclamation had little impact on the Texans due to the minimal number of Union troops to enforce the new Executive Order.
On January 1, 1980, Juneteenth became an official state holiday through the efforts of Al Edwards, an African American state legislator. The successful passage of this bill marked Juneteenth as the first emancipation celebration granted official state recognition and celebrates African American freedom and achievement while encouraging continuous self-development and respect for all cultures. On June 17th, 2021, President Joe Biden signed the Juneteenth National Independence Day Act into law establishing Juneteenth as a federal holiday.
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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