This year, “Bring a Kid to Work Day” is April 23. The name seems to have shifted: I remember “Bring Your Child to Work Day.” The population of the United States also shifts, something that lenders and originators are very aware of in the primary markets, and should be aware of in the secondary markets. Companies and job creators move, for various reasons. Population migration since 2019, accelerated by the pandemic, has shifted growth toward Sun Belt states like Texas and Florida while leaving places such as California flat and several Midwestern and Southern states declining, trends that are increasingly reshaping housing demand and mortgage market dynamics. Although purchase-driven Agency MBS issuance appeared slightly higher in dollar terms last year than in 2019, the reality is far weaker when measured by loan counts, down 28 percent nationwide, while regional population shifts are also influencing mortgage prepayment behavior and issuance patterns, with faster speeds and surging specified pool activity emerging in growth markets like Florida as traditional centers such as New York lose relative influence. (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 Nestment’s Niles Lichtenstein on giving first-time buyers the clarity, confidence, and plan to make homeownership happen.)

Products, Services, and Software for Brokers and Lenders

In home equity lending, speed is more than a service metric; it’s a margin driver. MBA data shows production costs are heavily influenced by labor and operational inefficiencies. The longer the cycle, the more expensive each loan becomes. AmeriCU Credit Union addressed this head-on. By redesigning its workflow with FirstClose, AmeriCU reduced turn times by up to 75 percent and moved from application to clear-to-close in under two weeks. The result: less operational drag, improved pull-through and a better borrower experience. If your current process is slowing you down, it’s likely costing you too. See the full AmeriCU case study and where the time savings actually came from.

“Q1 check-in: Did your volume hit the mark? For many, legacy tech is still the primary bottleneck to growth. At Figure, we don’t just innovate for the sake of it. We do it to improve your bottom line. Our 300+ partners already have access to 5-minute HELOC approvals and funding in as few as 5 days to drive efficiency. Are you next? Whether you want to expand your pipeline through debt payoff tools, non-QM products, or automated first liens, Figure provides the engine to make it happen. While we do 100 percent digital HELOCs, we value face-to-face interactions. We have curated 100+ events, and we’d love to meet up! If you’ll be at The Gathering this month, check out our CEO on a featured panel and schedule time to discuss how together we can ensure the rest of your year hits the mark.”

If your borrowers are stuck behind a home-sale contingency and facing DTI limitations, join Flyhomes’ live session on April 8 (Wednesday) to see how Buy Before You Sell can help them purchase their next home before selling their current one. With the Flyhomes DREAM Solution, borrowers can exclude their existing mortgage from their DTI ratio and unlock home equity to cover the down payment, allowing them to remove the home-sale contingency with confidence. Save your spot for the session now or book a call to review a borrower scenario today.

The Chrisman Marketplace is a centralized hub for vendors and service providers across the mortgage 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.

In-Person Events

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.

Join the Mortgage Bankers Association (MBA), April 8th, 11:30 AM - 1:30 PM at Bogey Hills Country Club for a panel discussion with the Home Builders Association (HBA) of St. Louis. Cost is $40 for Members of MBA and HBA, and $55 for non-members.

Join Central Chapter of FAMP for Table-Top Trade Show on April 8, as they time-travel into tomorrow’s lending landscape. From exhibitors with cutting-edge programs to speakers with trendsetting strategies, this is your chance to future proof your business.

Register for MBA’s National Advocacy Conference (NAC) April 14-15, the industry’s largest advocacy event and the most effective way to represent your state at the national level. “There’s no better moment to stand alongside hundreds of industry advocates and claim your seat at the table! Your presence at NAC ensures the 119th Congress understands how its decisions shape your business, your customers, and the communities you serve. NAC is your opportunity to drive meaningful outcomes and champion the future you want for our industry. This is our once-a-year moment, and we need you there.”

(FirstHome IQ is collaborating with the Mortgage Bankers Association to mobilize local loan officers from across the country to advocate for housing affordability at MBA’s National Advocacy Conference on April 14–15. The nonprofit’s goal is at least one loan officer from every U.S. state on Capitol Hill, with professional video content created for each attendee.

The inaugural THX Spring Summit is coming up April 16 in Westlake, Dallas. The Housing Exchange is a collaborative, closed-door gathering of industry leaders from across housing finance (attorneys, investors, servicers, and brokers) for a high-impact, exclusive day of candid dialogue, expert insights, and truly meaningful connections.

Join the Oregon Mortgage Bankers Association (OMBA) at Conference Room 5300 Meadows Rd. Lake Owego, Thursday, April 16th at 12:00 PM (PDT) for a leadership masterclass with Natalie Overturf, lunch is provided.

Registration is now open for the 2026 Forum by Asurity, presented in collaboration with premier sponsor RiskExec, and taking place April 20–22 at The Roosevelt New Orleans. The 2026 Forum brings together leaders in Fair and Responsible Banking, CRA, compliance, and financial crimes for two days of practical, real-world insight. The conference features dynamic panels of regulators, legal experts, and practitioners, along with hands-on sessions covering CRA modernization, fair lending, AI governance, and emerging supervisory priorities. Attendees can earn CRCM and CERP continuing education credits, with CLE credit anticipated pending state approvals. Reserve your place today!

The Texas MBA’s 110th Annual Convention is April 26-28 at the Marriott Austin Downtown, in Austin, Texas: 110th Annual Convention.

The SFH Guaranteed Loan Program Servicing Office is offering their lending partners and loan servicers a free, in-person, Lender Default Servicing training taking place May 4th – 8th at the Charles F. Prevedel Federal Building in St. Louis. The training will offer multiple sessions to provide technical training on Lender Reporting, Loss Mitigation and Loss Claims.

Join Acuma on May 11–12th for the FOCALpoint Workshop and experience powerful industry education set against one of the most beautiful cities in the country. This is more than a conference. It is an opportunity to learn, connect, and experience San Diego at its best.

Starting in May, NAMMBA’s OPSCON 2026 is a conference built specifically for underwriting and operations professionals in the mortgage industry. In Dallas, Irvine, and Orlando, the event delivers 1.5 days of high-impact keynotes, interactive breakout sessions, and live technology demonstrations. The agenda focuses on operational excellence, workflow automation, compliance, and leadership strategies. OPSCON 2026 is where mortgage operations teams connect, collaborate, and shape the future of efficiency in housing finance.

May 17-20 is the MBA’s National Secondary in Manhattan. Yes, it will be at the Marriott on Times Square… where else would it be? (Next year: Chicago.) It is a fine event.

Join October Research May 19-21, for the National Settlement Services Summit (NS3). Interact with 50+ exhibitors, participate in tech demos, and discover new solutions designed to give you a competitive edge in today’s market.

From May 31 to June 2, Insellerate is bringing together lenders and vendors in San Juan Capistrano. (Reach out to Josh Friend for details.)

June 14-16 will be the Ohio Mortgage Bankers Association annual conference near Columbus, Ohio.

6/17-6/18 in Honolulu is the MBAH’s annual conference.

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.

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.)

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.)

The MBA has announced the 2027 IMB Conference, set for 2/25-2/27, once again in Florida, this time in Tampa.

Capital Markets

As I'm sure by now you are well aware, the Strait of Hormuz remains central to market sentiment, with elevated energy prices and ongoing conflict keeping uncertainty high, even as a recent safe passage by a European vessel and contingency planning among U.S. allies offer cautious optimism about keeping the route open. Meanwhile, the March jobs report, which came in well above expectations on Friday, had only a fleeting impact on markets since it reflected pre-conflict conditions and is overshadowed by geopolitical risks, particularly the war’s implications for oil and global growth. Investors appear increasingly focused on the growth drag from sustained high energy prices rather than inflation alone, with expectations for higher oil price floors and a general view that short-term Treasury yields remain relatively attractive despite the volatility.

The market is well aware that delinquencies and foreclosures are higher for FHA loans than for other types. The risk profile of Ginnie Mae 30-year mortgages is becoming more sensitive as loan sizes grow and borrower debt levels rise, even though most borrowers are still not in a strong position to refinance. A key insight is that newer loans (especially from 2023 to 2025) are much more responsive to rate changes and could drive future spikes in prepayments, while older loans (2019–2022) are largely locked into rates that make refinancing unlikely. Overall, prepayment risk isn’t uniform across the market, it’s concentrated in newer, higher-balance loans that tend to react quickly when refinancing opportunities appear, making loan “vintage” a critical factor for investors to watch.

Looking at the week ahead, February’s (delayed) Personal Income and Spending report will be released on Thursday. The data is still prior to the start of the conflict in Iran and subsequent spike in oil prices. While the report is expected to show healthy consumer demand, much of the increase in nominal sales will likely be attributed to rising prices. The consumer has been resilient thus far, but the longer the conflict in the Middle East continues, the odds of a slowdown increase. March’s CPI will print on Friday with expectations for a 3.4 percent year-over-year increase driven by surging gasoline prices. Higher oil prices will eventually feed through the economy in just about every aspect and in addition to gas prices, airfares are expected to drive up transportation costs in the report as well. Sustainably higher oil prices will make their way into core prices and likely keep inflation above the Fed’s target throughout the remainder of the year. Today’s lone data point is the March ISM Non-Manufacturing Index, due out later this morning and which won’t move rates. We begin the week with Agency MBS prices roughly unchanged from Friday’s close, the 2-year yielding 3.87, and the 10-year yielding 4.36 after closing last week at 4.35 percent.