In news for fans of the wholesale lending channel (more below), heading into the baseball All Star Break the Philadelphia Phillies, owned in part by Freedom Mortgage’s Stan Middleman, are leading the NL East. UWM Holdings Corp CEO Mat Ishbia and SFS Holding Corp sold a combined total of 1,200,108 shares of UWM Class A Common Stock in three separate transactions, netting approximately $5 million. The sales come as UWM, currently valued at $6.6 billion, has seen its stock decline by over 26 percent in the past six months. That said, UWM has invested $100 million in Bilt which offers rewards for housing payments. Bilt originally made its name by offering renters the opportunity to earn points on rental payments and is building capital: The company announced that it has raised $250 million in new funding, bringing its total valuation to $10.75 billion, more than twice its valuation from roughly a year ago. It’s also introducing Bilt Card 2.0, an upgraded credit card offering that will launch in February of next year. That’s UWM… What is your company doing to obtain leads? (Today’s podcast can be found here and this week’s are sponsored by Ocrolus. Ocrolus is transforming the mortgage industry with AI-powered data and analytics, featuring cutting-edge tools for automated indexing, income analysis, and discrepancy insights that empower underwriters to make timely, confident lending decisions. Hear an interview with Absolute Home Mortgage Corporation’s Matthew VanFossen on how executives handle recruiters constantly attempting to poach top originators.)

Correspondent and Wholesale Loan Programs

“With the recent launch of our Delegated Correspondent HELOC program, Rhyze Solutions is grateful for the residential team that has built this best-in-class offering. As one of our IMB partners recently said, “it’s like your team has finally created an ‘Agency HELOC’ for the industry!” Led by Bjorn Peterson, Managing Director of Rhyze Residential, our team is indeed full of subject-matter expertise. In addition, Chris Spaude, Director of Home Equity Operations, and our two Senior Business Development Managers, Eric Moya and Joe Garcia, are bringing decades of mortgage experience to deliver the very best solutions. To learn more, contact us via online inquiry, email us, and bookmark our new Rhyze Residential Website.”

Fast. Smart. Always on Top. That’s Kwikie. The industry moves fast. If your tools don’t, you’re already behind. That’s why top brokers are choosing Kind Lending and the Kwikie Broker Portal, the powerful combo built for those who hustle smart. With Kwik Pricer, you get instant, real-time pricing, scenario comparisons, and loan program visibility without waiting on a rep. Full pipeline transparency means no more blind spots; see exactly where your deals stand at every stage. Lock fast with 15-day options that keep things moving, not stalling. And when questions come up? Kwikie delivers with built-in guidelines, on-demand training, and walkthroughs, so you’re always ready, always informed. It doesn’t stop there. Partnering with Kind unlocks our Marketing Center, packed with co-branded content to boost your brand and fuel your growth, all ready to launch when you are. Don’t settle for slow tech or support that ghosts you. Partner with Kind. Dominate with Kwikie. Not an approved partner yet? No worries, we are ready when you are! Click here to get started!

Services, Products, and Programs for Lenders and Brokers

Federal, state, and local fees are subject to change whenever new laws are passed, requiring lenders to be vigilant in keeping up with these changes. This may result in additional resources if the solutions in place can’t support the fee management processes needed. Furthermore, disclosing inaccurate fees to borrowers at the time of closing can cost lenders thousands of dollars in fee cures. ICE’s new whitepaper, How fee changes can directly impact lenders, breaks down four use case examples that demonstrate the potential consequences local and state fee changes can have on a lender’s operations. Learn how having the right fee management tools in place can help prevent fee cures and streamline the fee management process: How fee changes can directly impact lenders.

AI’s great for identifying problematic entries in loan documents, but when it comes to counseling young buyers through a home purchase, that takes a human touch. Tech vendors walk this virtual tightrope, deciding when and where to apply advanced technologies, and forgoing them when they don’t add any real value. Dark Matter Technologies has been the best at balancing this act for decades with its troupe of PhD data scientists and multi-million-dollar investment in AI and machine learning. The result? Its discerning AIVA suite of AI productivity tools that work within the Empower LOS platform (or as stand-alone solutions) to automate manual, error-prone tasks like document review and data extraction to let humans focus on higher-level decision-making. A free whitepaper from HousingWire explores how Dark Matter deliberately applies AI to shape and extend its Empower LOS for speed, modularity, and compliance. Download the white paper here.

In today’s volatile market, standing still isn’t an option. Lenders and MSR holders need a subservicing partner with the scale, agility, and insight to drive performance. LoanCare® delivers end-to-end servicing solutions, spanning full, interim, backup, and component servicing, along with private label options that protect your brand while enhancing operational efficiency. Our deep product expertise, including HELOCs and seconds, ensures seamless execution and superior customer experiences. With advanced data analytics and account-based marketing offerings, we help you identify and convert high-value customers before they look elsewhere. Turn uncertainty into opportunity. Contact David Vida, Chief Revenue Officer, today to elevate your subservicing strategy. LoanCare: Experience you can trust. A partner you can rely on.

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.

Webinars, Training, and Events

A California borrower beat 22 offers, including higher-priced ones. Flyhomes Cash Offer made it possible, with as little as $0 down and no cash out of pocket. Join the live webinar from Flyhomes on July 17 to learn how this innovative purchase bridge loan works. Flyhomes Cash Offer helps borrowers unlock equity from both their current and future homes, enabling up to 105% LTV, with no contingencies and no asset liquidation required. For the past 10 years, Flyhomes has been a pioneer and leader in innovative financial products, helping 5,000+ buyers purchase their next home and enabling LOs to close 1.2 more loans per month on average. Save your spot now for the July 17 webinar or book a call to learn more.

Upcoming webinar: Mid-Year Compliance Check-In: What 2025’s Regulatory Shifts Mean for You. The first half of 2025 brought rapid changes to the regulatory landscape, and those changes are reshaping compliance priorities for the rest of the year. On July 24th, join Ncontracts’ experts for a breakdown of what’s happened so far, what’s still in flux, and how it all impacts your institution’s risk posture and exam readiness. From executive orders and Section 1071 delays to shifting CFPB enforcement focus, we’ll help you connect the dots and plan with confidence. Designed for anyone navigating risk and compliance, this session will help you cut through the noise and prepare for what’s next. Register today here!

Every conference has an LTV ratio: the percent of “Lenders to Vendors.” Cutting edge mortgage stats aside, a good place for longer term conference planning is to start is here for in-person events in the future; and organizers can post their event!

On today's episode of Now Next Later at 10am PT, Sasha and Jeremy host Partner’s Credit COO Tracey King.

Tuesday the 15th’s episode of MortgagePros411, at 2PM ET, Audrey and Kevin focus on originator’s concerns.

Join Optimal Blue on July 15 at 1 p.m. CT to see how Capture for Originators surfaces refinance-ready loans – no spreadsheets or manual digging required – and delivers borrower-ready presentations in one click, all within the Optimal Blue® PPE.

Get a clear view of where the housing market is headed in the next webinar in the complimentary Economic Outlook Series produced by October Research, LLC July 15th. Selma Hepp, SVP and Chief Economist at Cotality (formerly CoreLogic), will share expert insights on the trends, challenges and economic forces shaping the housing market as we move into Q3. From interest rate movement to buyer behavior and rising market risks, this concise, insight-packed session is essential for anyone involved in real estate. Register today at: http://bit.ly/44n2a2V.

NRMLA, in partnership with the Education Committee, will present a webinar on Tuesday, July 15, at 2 pm ET that will focus on mandatory repairs, lender-placed insurance and flood requirements. Join special guests Gail Balettie and Jorie Kelly of Celink and Ryan McIntire of PHH Mortgage as they discuss these important servicing topics and take your questions. This webinar has been approved for one “advanced” CRMP credit. The registration fee will be $20 for members; $25 for non-members.

Looking for more in-depth commentary on weekly mortgage news? Register here for Wednesday the 16th at 11AM PT "Mortgage Matters: The Weekly Roundup” presented by Lenders One featuring.

Are you dealing with backlogged pipelines, vendor frustrations, or non-stop borrower complaints? You’re not alone, and you don’t have to navigate it alone, either. Join MMBA for the next ACUMA Servicing Network Meeting, Wednesday, July 16th, 1:00 -2:15 PM. Tim Braheem & Craig Strent will provide an exclusive live group demo of The Loan Atlas, the platform fueling production for today’s top loan originators. Cost: $25 for MMBBA Members | $45 for Nonmembers.

Thursday the 17th will be another episode of The Big Picture at 2:30PM ET. Rich Swerbinsky hosts a variety of guests. You can click here to register for Thursday’s show which features the MBA’s Bob Broeksmit, 30 minutes earlier than normal.

On Friday’s episode of Last Word at 10am PT, hosts Brian Vieaux, Christy Soukhamneut, Courtney Thompson, and Kevin Peranio explore recent shifts in the mortgage market, focusing on the spate of economic news that has hit the market and the latest out of the Agencies.

Capital Markets

The past week brought renewed attention to trade policy as the July 9 expiration, and subsequent extension to next month, of the 90-day tariff pause reignited uncertainty in markets. While economic data was relatively light, key indicators showed real consumer spending declining by 0.3 percent in May and credit growth slowing to a modest 1.2 percent annualized pace, both signs of softening momentum.

Businesses are increasingly citing cost pressures from tariffs as a reason to raise prices, reinforcing expectations for rising inflation in the second half of the year. However, inflation pass-through remains limited, and consumer expectations for future inflation are falling. This divergence presents the Fed with a nuanced policy challenge: with inflation subdued and labor market conditions only gradually weakening, how many rate cuts are truly warranted by year-end?

President Trump’s aggressive trade stance escalated last week with fresh threats of a 35 percent tariff on select Canadian goods and a potential global doubling of blanket tariffs to 20 percent. These announcements, which came shortly after reinitiating talks with Canada, have further unnerved global markets, even as the Treasury market response remains relatively muted. Investors appear increasingly desensitized to trade war headlines, potentially due to the lack of immediate economic fallout or belief that the worst-case scenarios are unlikely. However, a wait-and-see sentiment prevails.

Recent Treasury auctions have shown strong demand and stable pricing, but the potential for future volatility remains, particularly if August’s tariff hikes start to pressure supply chains and consumer costs more visibly. For now, the labor market’s resilience is holding up, but it’s becoming harder for displaced workers to find new jobs.

This week offers a packed schedule across markets, with attention shifting from President Trump's latest tariff threats (now targeting the EU and Mexico) to the kickoff of second-quarter earnings season. Major U.S. banks like JPMorgan, Bank of America, Citigroup, Wells Fargo, Morgan Stanley, and Goldman Sachs are set to report, alongside corporate heavyweights. The economic calendar is equally robust, with key inflation data in the form of June's Consumer Price Index (CPI) on Tuesday, Producer Price Index (PPI) and industrial production figures on Wednesday, followed by retail sales and import prices on Thursday, and preliminary July consumer sentiment on Friday. Fed speakers will also be active throughout the week, potentially shaping expectations for future policy moves. In the mortgage space, MBS Class B and C 48-hour notifications are scheduled for Tuesday and Thursday, respectively.

The week starts off slowly with some short duration Treasury auctions. Without anything of note on today’s economic calendar, we begin the week with Agency MBS prices unchanged from Friday, the 2-year yielding 3.89, and the 10-year yielding 4.43 after closing last week at 4.42 percent.