In the book “1984” George Orwell observed, “Who controls the past controls the future. Who controls the present controls the past.” I was in Reno this week, with voting already open, and if the lines outside the stations are any indication there is going to be a huge turnout for the upcoming election. There are plenty of current events impacting people’s opinions and psychology, which in turn spill over into potential buyers either sitting on sidelines or buying a home. The Trump Administration certainly has its proponents who often cite the reduction in illegal immigration and don’t mind the price of fuel. But servicers took note that the Administration plans to cut disaster aid in as few as six months and shift responsibility to states, FEMA’s administrator said. Servicers also noticed a report that countries are not doing enough to cut emissions that cause climate change, according to a new report from United Nations scientists. And the United States is the only major economy where planet-warming pollution increased dramatically last year, the report notes. Meanwhile, lenders just continue to try to help borrowers, and a quick clarification from yesterday’s newsletter: MBA Homebase is not an LO membership to MBA, per se, but is a member benefit for LOs at MBA member firms that includes the option for LOs at non-MBA members to participate at a higher non-member rate. (Today’s podcast can be found here. This week’s ‘casts are presented by Experian. Experian Verify’s integration with Workday gives mortgage lenders broader access to reliable, up-to-date income and employment data, streamlining verification, enhancing efficiency, and delivering a smoother borrower experience from application to closing. Today’s has an interview with Experian’s Ryan Rosales on expanding income and employment data coverage to improve verification speed and borrower experience, and what mortgage lenders need to do to access the new data and prepare for future developments in digital verification.)
Employment and transitions
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“Brokers Advantage Mortgage is expanding possibilities and hiring experienced Wholesale Account Executives ready to grow with us. Our latest Infinite Series expansion gives you more ways to win non-QM (1st Lien) and CES (2nd Lien) business. We offer enhanced non-QM (1st Lien) LTVs, including up to 80 percent LTV on eligible loans up to $3M, CES (2nd Lien) Bank Statement and 1099 CLTVs increased to match Full Doc, Business Bank Statement with standard expense factors as low as 15 percent, and new DSCR Plus, allowing an initial 0.75–0.999 DSCR to be supplemented with Asset Depletion to reach a final minimum DSCR of 1.15. With competitive pricing, experienced leadership, and dedicated operational support, we help turn more borrower scenarios into opportunities. Ready for your next move? Bring your experience and ambition to a team committed to your success. Connect with us to explore our products or Account Executive opportunities today. BrokersAdvantageMortgage.com or apply now.”
Zillow’s 2026 Consumer Housing Trends Report found that 29 percent of buyers contacted a lender as their very first homebuying step, up from 18 percent in 2025. 58 percent spoke with a lender within their first three steps, and 47 percent got pre-approved in that same window. Zillow Home Loans meets buyers at their starting point, surfacing affordability tools directly in the Zillow shopping experience and creating a natural connection to conversations with loan officers. The financing figures in Zillow search adjust with buyers as they get serious, from early estimates to verified pre-approval numbers, so buyers know which homes they can afford and make offers on. The integration of financing into home search is a structural shift in how the purchase journey works, creating a smoother path from search to close. (Equal Housing Lender, NMLS #10287)
Changes at ServiceLink in the upper echelon! Miriam Moore, President of ServiceLink’s Default Services Division for the past 15 years, will assume the role of Executive Advisor to help shape default services strategy, strengthen client relationships and provide ongoing counsel on product and operational innovation. Dave Steinmetz will succeed Miriam as President of the Default Services Division after having led ServiceLink’s origination businesses as President for the past 15 years. Lastly, David Holland, ServiceLink’s CFO, will serve as Interim President of Origination Services while continuing in his CFO role and will lead the search for a permanent Origination Services Division President.
Lender and brokers products, services, and software
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“Ready to get ahead of what’s next in mortgage technology? Join us for the client-exclusive Optimal Blue Summit 2027, taking place Feb. 1 – 3, 2027, at the JW Marriott Desert Ridge Resort & Spa in Scottsdale, Arizona, for hands-on training, insightful breakout sessions, product demonstrations, and conversations with mortgage and business leaders. Hear from special guest Troy Aikman, Mortgage Bankers Association President and CEO Bob Broeksmit, MBA Chief Economist Michael Fratantoni, Optimal Blue leaders, and more as they explore the market trends, technologies, and strategies shaping the year ahead. Kick off 2027 with actionable insights, new connections, and practical strategies to help your organization move faster and compete more effectively in the year ahead. Register by Oct. 31 to secure the $199 early bird rate and your spot at Optimal Blue Summit 2027.”
Is Your AI Governance Program Exam-Ready? Federal regulators, Fannie Mae, Freddie Mac and state supervisors all set new AI governance expectations in 2026, and examiners now want proof of how lenders, servicers and financial institutions use AI and govern it. ACES’ new guide breaks down all three regulatory fronts, outlines five steps your team can take without adding headcount, and includes a self-assessment to help you find gaps before your next exam. Download the free guide to build an exam-ready AI governance program.
“The new quality control standards for automated valuation models (AVMs) under Dodd Frank have been in effect for one year. We’ve learned during this time that AVM testing and monitoring should track loan decisions, not only models. That’s where ICE’s AVM Model Monitor comes in. This advanced self-service reporting dashboard delivers deep insights into the performance, coverage and accuracy of ICE’s AVMs, including results by market, property type, price tier and intended use. Read the blog to learn more.”
“Are you a mortgage originator worried about security in your AI implementation? About managing foundational models that keep changing? About hallucination? Decider by Black Lake Digital Markets helps originators underwrite better: stable, efficient, accurate. Decider takes your guidelines, turns them into rules, and applies those rules to produce underwriting outcomes, all on the same infrastructure. Guidelines come in through Guideline Studio; decisions come out logged. Hallucinations are gone: our LLM never makes anything up, so there are no more unknown unknowns. Logged decisioning is a regulatory requirement, and Decider meets it by design: Every decision is recorded and auditable, with no surprises. It is built on a patent-pending backbone and costs 90 percent less than existing foundational models. Want to see it run? Black Lake will be at the IMN Mortgage AI Forum in Dana Point… Come watch a guideline become a decision. Can’t wait? Request a demo here.”
Meet with Clayton at IMN’s MSR Forum in NYC and Join the Servicing Oversight Discussion. As MSR portfolios change hands and regulators focus their attention on servicer performance, owners need clear visibility into how their loans are being serviced. Clayton Servicing Oversight has helped MSR owners, investors and servicers monitor and manage servicing risk for decades. On Tuesday morning, Clayton VP-Servicing Oversight Josh Fieldgrove joins fellow servicing executives on the “Servicer Oversight in Focus: Performance, Compliance & Client Expectations” panel to cover subservicer performance and KPIs, regulatory expectations and oversight reviews. With more than 30 years of experience, Clayton Servicing Oversight continues to be the premier provider of oversight & quality control solutions for the residential and commercial real estate markets. Calendars are filling fast, so contact Pete Butler or Tom Coffey to lock in your meeting today.
Non-QM production keeps growing, yet execution still runs through fragmented workflows for pricing, investor discovery, and reporting. MCT clients can now price and optimize non-QM and non-agency executions within MCT Marketplace. MCT’s Justin Grant, Senior Director and Head of Investor Services, and Amy Creason, CMB, will host a webinar to demonstrate how MCT supports non-agency across the secondary market lifecycle. The session covers standardizing bid tapes, the new non-QM scenario pricer for gauging investor appetite and identifying counterparties, and how to expand opportunities with investors beyond the approved network. This session also explores how best execution compares flow best-efforts pricing, loan-level and pool-level bids, and carve-out opportunities on an all-in basis. Reserve a seat for the October 27 demonstration to see the full workflow in MCT Marketplace.
“Homeownership remains a top priority for many borrowers, but affordability challenges require greater flexibility and choice. At Newrez Correspondent, we help our lending partners meet these evolving needs through practical solutions such as Interest-Only loans, Temporary Rate Buydowns, Adjustable-Rate Mortgages (ARMs), and VantageScore® options. Beyond competitive products, our new modern web portal enhances the lending experience by providing a more intuitive and efficient way to do business. The platform gives partners easier access to information, streamlines processes, and helps move loans forward with greater confidence. We also want to thank our customers and industry partners who joined us at the MBA event in Chicago. We appreciate the opportunity to connect and look forward to continuing our work together to expand homeownership opportunities and help more borrowers achieve sustainable homeownership. If you weren’t able to meet us in Chicago, please reach out to your Regional Sales Manager to discuss the latest developments.”
“Your AI governance policy is only the beginning. When AI acts inside a mortgage workflow, your team still needs clear answers: Was it authorized? What was it allowed to do? Which authority applied? And where is the proof? Crittora controls AI at the moment it acts. Crittora’s CAAB solution evaluates whether an AI action is within defined authority before it reaches a tool, API, or mortgage system. Crittora Mortgage GSE Governance aligned Packs help turn those decisions into audit-ready proof. Control AI before action. Evidence after action. Less time chasing proof at audit. Crittora is the only AI security company with 100 years of combined mortgage experience. We are FRAME certified by MISMO, and ready to help you move your governance policy to production. Learn more here.”
One Platform. Every LO. Days, Not Months. Rolling out new technology to your entire sales force is a gamble, unless it plugs into what you already run. MortgageCoach is built on your existing infrastructure, native inside ICE Encompass®, with real-time pricing from Optimal Blue™ and accurate fees from Lodestar™ and SmartFees™. No rip-and-replace. No lengthy adoption curve. The result: every LO on your team presents like your best one, consistently, compliantly, at scale, with AI now doing the heavy lifting on presentation-building itself. New hires ramp faster. Veteran producers stay sharp. Your brand experience stays consistent no matter who’s in the room. Schedule a 1:1 demo to see how leading lenders are standardizing advisor-level performance across their entire origination team, without the retraining headache. Book your demo today.
In-person events to finish off 2026 and head into 2027
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A good place for longer-term conference planning is to start is here for in-person events in the future. For organizers to post their events, click on the link and then “submit a conference.” Book those flights in advance… they’re not cheap and have been 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. Don’t forget the LTV ratio: Lender to Vendor.
Guild Mortgage is offering the Affordable Housing Summit on October 23. “We’re bringing together mortgage and housing industry professionals in National City, California, to discuss housing affordability, emerging homebuyer trends, creative financing solutions, and opportunities to better serve our communities. This is an opportunity for lenders, real estate professionals, community partners, and housing advocates to come together, share ideas, and explore solutions to some of the challenges facing today’s homebuyers.
Guild Mortgage also has the STAND Military Resources & Homebuyer Readiness Fair on November 14. “Through Guild Mortgage’s STAND initiative, we’re bringing together resources and educational opportunities specifically designed to support Veterans, active-duty military members, and military families. Our goal is to help attendees better understand their homeownership options, connect with knowledgeable professionals, and access resources that can support them throughout their homebuying journey. With Veterans Day taking place just a few days before the event, we believe this is a meaningful opportunity for the mortgage industry to come together in support of those who have served.”
On 11/18, in St. Louis, we have the Mortgage Bankers Association of St. Louis annual luncheon, along with other events throughout the year.
On 11/19, in Kansas City, is the annual MBAKC luncheon.
Join ALFN on Thursday, November 19th, at 8:00 AM – 6:00 PM CST for its 15th Annual INTERSECT (FC+BK) Conference, where foreclosure, bankruptcy, servicing, investor, and legal professionals come together for one day of practical education, strategic insight, and meaningful industry collaboration.
The MBA offers up Accounting and Financial Management!, November 18-20 in North Carolina.
2027 already!
The MBA’s Independent Mortgage Bankers Conference takes place January 25-27 at the Tampa Marriott Water Street. It brings IMB leaders together for candid conversations, valuable connections, and practical strategies to strengthen their businesses.
Then there’s Optimal Blue’s Summit, 2/1-2/3 in Scottsdale, AZ.
The Northeast Mortgage Summit is being held February 24-25, at Foxwoods Resort Casino Mashantucket, CT. It is the region’s premier gathering for mortgage industry professionals, bankers, lenders, brokers, originators, appraisers, and technology providers. The Summit combines keynote sessions, breakout education, and an exhibit hall with built-in networking throughout. Early bird pricing is $75 for members and $125 for non-members, early bird pricing remains valid until December 31st, 2026.
MCT’s Annual Client Conference in San Diego 3/1-3/3 has become an industry standard.
The One Event You Don’t Want to Miss in 2027: L1 Summit 2027 brings mortgage leaders together March 7–10 at the Omni PGA Resort in Frisco, Texas, for timely, important, and relevant ways to improve your mortgage company’s financial performance. For the first time, L1 Summit registration is open to Lenders One members and non-member lenders. It’s a broader conversation, with more opportunities to connect, exchange ideas, and build relationships. Make sure you’re in the room. Register by 10/31 for the best pricing and early-bird savings. Register today.
Later in March, we have ICE 3/15-3/17 in Las Vegas, NV, then continuing into the year there’s the Great River 4/19-4/21, the MBA’s National Secondary 5/16-5/19 in Chicago, and MBAH in Honolulu June 15-17.
Capital markets: more housing-related executive orders?
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Competing risk sentiment and geopolitical developments continue to drive cross-asset volatility. U.S. Treasuries ended lower yesterday after another largely range-bound session turned to late selling. A weak $13 billion 20-year bond auction added pressure, and reports of U.S. diplomatic personnel departures from Persian Gulf countries raised concerns about potential escalation with Iran. Safe-haven demand has been offsetting concerns over geopolitical tensions, global fiscal pressures, equity volatility, and Fed policy. A flight to safety appears to be the best bet for getting mortgage rates to go down.
U.S. housing and mortgage markets are facing mounting pressure as 30-year mortgage rates remain elevated, pushing monthly payments higher, worsening affordability, and contributing to a seventh consecutive weekly decline in mortgage applications and a 41 percent year-over-year drop in total volume. Homebuilder confidence has fallen to its lowest level since June 2012, as rising financing and construction costs, labor shortages, and elevated home prices weigh on demand and margins, prompting builders to cut prices, offer mortgage rate buydowns, and reduce home sizes. Limited housing supply, regulatory constraints, and homeowners’ reluctance to sell or refinance are further suppressing market activity, while lower refinancing expectations have led Fannie Mae and the MBA to reduce their 2027 mortgage origination forecasts.
The White House is reportedly preparing an executive order to improve housing affordability through measures such as simplifying mortgage insurance cancellation, expanding GSE title insurance pilot programs, reducing VA and USDA loan premiums, and lowering GSE refinance guarantee fees, likely ahead of the midterm elections. While proactive mortgage insurance cancellations could pressure insurers’ earnings, the impact is expected to be manageable through potential share buybacks, while title insurers face limited exposure given the small contribution of refinancing to premiums; moreover, the absence of proposed FHA premium cuts should limit competitive pressure on private mortgage insurers. Overall, these initiatives are likely to have a modest impact on mortgage insurers, title insurers, and the broader mortgage market, with implementation challenges and persistently elevated interest rates limiting their near-term effectiveness.
Today’s economic calendar is already underway with weekly initial claims (194k, near the recent average) and continuing claims (1.728 million). Later today brings the September Leading Index and the Kansas City Fed Manufacturing Index for October. With stocks falling dramatically, we begin the day with Agency MBS prices better by .125-.250, the 2-year yielding 4.73, and the 10-year yielding 5.04 after closing yesterday at 5.15 percent.
Leading up to a local election, two opposing candidates for county office happened to be sitting next to each other in the local diner.
One turned to the other and said, “You know why I’m going to win this election? Because of my ‘personal touch.’ For example, I always tip waitresses really well and then ask them to vote for me.”
“Oh, really?” replied the other. “I always tip a nickel and ask them to vote for you.”
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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