We’re back traveling and packing for the plethora of conferences. Packing and intellect sometimes collide: for the life of me, I can’t seem to grasp this simple video on the moves of how to fold a t-shirt in under two seconds. (It is worth waiting out the ad; show it to your kids.) The Fed doesn’t set mortgage rates, but the markets seem focused on its every move and opinion since its mandate of maximum employment, price stability, and steady inflation is always precarious. The Fed is often a topic on The Big Picture, but this week Katie Sweeney, EVP of Broker Strategy and Advocacy at Rocket Mortgage, is on to discuss the moves on the trigger leads bill with its implications… a big win for the MBA and our biz. Speaking of that organization, the MBA’s Marina Walsh, CMB, reminded me of a its just-released home equity lending study that should be of interest to any originator or company who wants to understand that market and borrower, and how to tap into that business. (Today’s podcast can be found here and Sponsored by Total Expert, the purpose-built customer engagement platform trusted by hundreds of modern financial institutions. Total Expert turns customer data into actionable insights that help lenders engage and guide consumers through complex financial decisions. Hear an interview with BeSmartee’s Tim Nguyen on why modern mortgage lenders need configurable POS solutions that are fast, flexible, and built to adapt in any market.)

Products, Services, and Software for Lenders and Brokers

Digital solutions are reshaping the settlement and closing process, offering mortgage professionals an efficient alternative to traditional, paper-based methods. Tools like eClosing, eMortgage, eNotes, and eRecording not only simplify workflows but also meet growing consumer demand for a faster, seamless experience. By integrating these technologies, you can reduce delays, improve accuracy, and enhance client satisfaction. Discover how these four key tools can transform your operations and learn how to get started. Read the blog here.

Lenders are still talking about the compliance risks uncovered in a recent webinar with Conforma Compliance Group and LenderLogix. From state-level pitfalls to “cowboy” LO practices, the session breaks down how lenders are tightening up pre-approval letter workflows and reducing risk... without slowing down borrowers or agents. Whether you're managing multiple branches or just trying to stay ahead of evolving regulations, this is a must-watch. Catch the on-demand replay now.

When perfect homes are hard to find, Planet Correspondent renovation loans help borrowers see the potential in what’s available, turning your prospects into purchases. Freddie Mac CHOICERenovation®, Fannie Mae HomeStyle®, FHA 203(k), and VA renovation loans can fund repairs, make homes less vulnerable to weather, and modernize outdated finishes, all with one loan and one closing. Download Planet’s Renovation Lending Guide or contact Jim Bopp, VP National Renovation or (518) 348-6426 to schedule a meeting. Let’s build your home lending volume together.

“Is a standing call with your servicer enough for proper oversight? What does proper oversight entail? Ultimately, you are responsible for overseeing your subservicer, so you must understand what is expected of you and the key actions you need to take to maintain oversight and comply with regulations. Proper oversight includes an annual review and testing of the subservicer’s processes and procedures. Tune in to this video, where the experts at Richey May answer the most frequently asked questions about subservicer oversight requirements. Whether you need a review or assistance navigating the general complexities of oversight, Richey May’s mortgage compliance experts can help. To learn more about our review process, check our upcoming schedule, or to sign up, contact us today!”

“BankUnited, NA is proud to announce the launch of our new website dedicated to Mortgage Warehouse Lending: Why We Stand Out. The site was built to provide value-added benefits to our current and prospective clients that outline our capabilities, our highly experienced team, and our approach to delivering tailored solutions designed to maximize an independent mortgage banker’s unique warehouse financing needs. BankUnited, NA offers a comprehensive, high-touch consultative service designed to thoroughly understand your business operations and identify partnership opportunities. We strive to fund and settle loans efficiently and effectively and will work with you to navigate the intricacies of this key business function, so please reach out to us today by submitting your inquiry on our website or contacting our National Sales and Business Development Manager, Jodie D. Cochran, CMB.”

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.

Investor and Lender Updates

Sometimes news all fits together, sometimes it is a hodge podge. Let’s see what’s going on out there in Mortgage Land!

United Wholesale announced its earnings today. Stockholders are hoping for a nice rally, given that the UWM Holdings Corp. was at $9.74 within the last year and has been in the $4 range for four months, a drop of more than 50 percent. The company closed $39.7 billion in production, +18.2 percent YoY and +22.5 percent QoQ, of which $27.3 billion was purchase business. “This was UWM’s best overall production quarter since 4Q21.” UWM saw a total revenue of $758.7 million, up 21.9% YoY and up 23.7% QoQ, and its gain of sale margin was 113 basis points, up 6.6% YoY and up 20.2% QoQ.

Speaking of which, yesterday United Wholesale Mortgage (UWM) launched R/T 90, a 90-basis points (bps) pricing incentive for conventional, jumbo, FHA and USDA rate and term refinances, along with FHA Streamlines, VA IRRRLs, and VA Type 1 Cash-Outs. “This incentive is available on new locks through September 16, providing independent mortgage brokers with a competitive edge to help more borrowers refinance their home loans. R/T 90 offers borrowers improved pricing and the opportunity to lower their rate and monthly payment on eligible refinances.”

Mutual of Omaha Mortgage has expanded the availability of its new proprietary reverse mortgage solution, SecureEquity+ is available in 14 states: Arizona, California, Colorado, Connecticut, Florida, Hawaii, Idaho, North Carolina, New Jersey, Nevada, South Carolina, Texas, Utah, and Washington (fixed rate only). Offering loan amounts up to $4 million, with both adjustable and fixed-rate options. The product is designed for borrowers aged 55+ in most states, expanding access beyond the traditional reverse mortgage market. Some states have a higher minimum age than 55. SecureEquity+ allows eligible homeowners to convert a portion of their home equity into cash without monthly mortgage payments, while retaining full ownership of their home. Borrowers must occupy their home as primary residence and continue to meet standard obligations such as property taxes, insurance, HOA fees and costs of home maintenance.

A&D Mortgage, LLC (“A&D Mortgage”), a nationwide wholesale lender, announced the launch of two new VA loan programs designed to help veterans, active-duty service members, and spouses purchase property with greater ease and flexibility. These initiatives are part of A&D’s ongoing commitment to expanding access to affordable and streamlined mortgage solutions. The VA Standard Loan allows qualified borrowers to buy, build, repair, maintain, or adapt a primary residence with terms that offer both confidence and convenience. The VA Interest Rate Reduction Refinance Loan (IRRRL) helps existing VA loan holders lower their monthly payments and interest rates with a fast, hassle-free process.

Foundation Mortgage is turning up the heat this August with a new broker pricing special called “Heat Up Your Pipeline.” The promotion offers tiered bonus pricing (0.125% to 0.375%) on Full Doc, Bank Statement, and Asset Depletion loans submitted through August 31. It’s available exclusively to brokers who funded a loan in July or are submitting their first deal with the company. “This offer highlights our commitment to building long-term relationships and rewarding performance,” said CEO Marc Halpern. Check out the blog for more details.

PHH Mortgage now has functionality for uploading document packages will be changing.

Beat the competition with non-QM solutions they can't offer. Unlock underserved segments with Ally, Champions Funding’s exclusive Owner-Occupied No Ratio program built for borrowers outside the traditional box. Say “yes” more, grow your pipeline, and win with. Ally's just one tool in your Champs toolkit. We have a full suite of non-QM loan options ready to help you close more business. Let’s talk about your toughest files.

Capital Markets

Are you turning your loan delivery process into a profit lever? In MCT’s new whitepaper, Loan Delivery Methods: Turning Process into Profit, discover how lenders can shift loan delivery from a back-office task to a key driver of profitability and investor confidence. With insights from Sr. Trading Team Manager Andre Pollesel and Cody Echols, Sr. Capital Markets Technology Advisor, this roadmap outlines strategies ranging from best efforts to securitization, helping you identify knowledge gaps, manage expectations, and unlock efficiency. Learn when to employ each method and how foundational factors like net worth and hedging shape your options in this brand new whitepaper. Stay informed with the latest market commentary and tools tailored for today’s mortgage capital markets by subscribing to the MCT newsletter.

Once again, there isn’t a whole lot to report on from yesterday as we are officially in the summer doldrums. We had the completion of a weak $42 billion 10-year note offering, President Trump’s new tariffs officially took hold (with higher rates for almost all U.S. trading partners starting just after midnight), and the Agencies began releasing July MBS prepayment data, which will contribute to increased roll trading, along with the looming TBA settlements. Oh, and United Airlines shut down for a brief period.

Despite widespread warnings, the anticipated economic fallout from tariffs has yet to fully materialize as we’ve all learned how much of our economy is really based on imports. Inflation has risen modestly but remains far from crisis levels, the trade deficit has narrowed, and federal revenues are up; all without the kind of severe supply chain disruptions seen during the pandemic. That said, the labor market is showing signs of strain, indicating that the impact hasn't been entirely without cost.

After a nearly empty data calendar yesterday, today is an active one. We’ve already received jobless claims (226k, 1.974 million continuing claims but the highest since November 2021) and preliminary Q2 productivity and unit labor costs (+2.4 percent, +1.6 percent, respectively, both decent news). Later today brings wholesale trade for June, consumer credit for June, the July Survey of Consumer Expectations from the NY Fed, Freddie Mac’s Primary Mortgage Market Survey, Treasury activity that will be headlined by $25 billion 30-year bonds, and remarks from Atlanta President Bostic. We’ve also received the latest rate decision from the Bank of England, a 25-basis points rate cut. We begin Thursday with Agency MBS prices a touch worse than Wednesday’s close, the 2-year yielding 3.71, and the 10-year yielding 4.22 after closing yesterday at 4.22 percent.