Zillow and Redfin settled their FTC antitrust case, as we figured they would, and certainly technology was involved. With the increase in artificial intelligence, many teachers have gone back to having all writing done in classes, handwritten, or with an electric typewriter. Would parents rather have their child learning something in class from the instructor, or taking that time to write an essay? Students lose much more than grammar skills when they use AI to write. In healthcare, critical legal questions are emerging: who is responsible when inaccurate advice causes harm? What is the potential liability? Do disclaimers protect AI companies? Why is proving causation difficult? Can existing injury laws possibly keep pace? For lenders, the question of implementing technology results in a “help” versus “replace” scenario. I have never heard an AI vendor talk about replacing employees, but instead leveraging the capabilities of the existing staff. No LO wants a client who knows more about AI than they do. (Today’s podcast can be found here. This week’s ‘casts are sponsored by Experian. From lenders and landlords to employers and consumers, Experian helps connect the housing ecosystem with the data and insights needed to make faster, confident decisions. Lead a smarter housing journey with Experian. Today’s has an interview with Deluxe’s Adria Liss on how the Homebuyers Privacy Protection Act (HPPA) is reshaping mortgage marketing around privacy, compliance, and smarter targeting, making data governance and adaptability key competitive advantages.)
Lender and Broker Software, Products, and Services
Homeowners are sitting on near-record levels of home equity, but with nearly 50 percent holding a sub-4 percent interest rate, trading that for a 7 percent one just to access it is a non-starter. Home equity has become the smarter path to that cash, and applications are up across the industry. However, turn times that can’t keep pace with demand put that surge at risk. Everwise Credit Union saw that firsthand. Its home equity loans averaged 40 to 45 days to close, and in-branch signings forced some members to drive an hour or more. By expanding its relationship with FirstClose, ordering settlement services directly through FirstClose’s MeridianLink integration and adding mobile notary closings, the credit union cut turn times to about 15 days, a 65 percent improvement that helped make home equity one of its top lending products. FirstClose breaks down exactly how in a new on-demand webinar. Watch now.
Easy. Reliable. Realistic. Affordable. Self-Service MSR, whole loan and scratch & dent valuations. Previously, you only got to pick one. Now READY® valuation powered by Black Lake Digital Markets delivers self-service valuations starting as low as $150 a month*. Your financing provider, your auditor, and your CFO all just did a happy dance. Run valuations whenever you want: 2AM, Sunday night, mid-quarter scramble. These aren’t theoretical marks that fall apart when a bid shows up: READY® prices at tradeable levels any auditor should get behind, from the same engine institutions trade on. Explainable to the basis point, model agnostic, instant scenario and stress testing. No vendor queues, no quarter-end hostage negotiations. Easy onboarding. Easy Migration. Use READY® as a Primary mark, second provider, or pre-trade sanity check: value on your schedule, not theirs. Contact info@blacklakeinvestments.com to learn more or book a demo here. *Additional terms and conditions may apply.
PRMG® is proud to introduce its new Medical Professionals Loan, giving residents and licensed medical professionals a path to homeownership before their income catches up to their career. Eligible borrowers include physicians, dentists, veterinarians, pharmacists, and nurse practitioners with strong earning trajectories. Program highlights include purchases or rate/term refinances for primary residences up to 100 percent loan to value, loan amounts up to $2 million, minimum loan amount $100,000 on fixed products or $350,000 on ARM products, no mortgage insurance requirement, credit scores starting at 680 and DTIs up to 50 percent. Future salary on a signed employment contract can count as income up to 150 days ahead of a borrower's first paycheck, and student loan payments in deferment or forbearance may be excluded from DTI for residents and fellows. Register for the upcoming training on August 31, 2026, at 11:30 a.m. PT / 2:30 p.m. ET.
Fraud is getting smarter. Your detection tools should too. Mortgage application fraud costs lenders billions every year, and the tactics used are evolving quickly. Fraudsters now use AI to fabricate synthetic identities, manipulate borrower data, and misrepresent income and occupancy in ways legacy fraud validation tools weren't built to catch. ICE research found underwriters spend an average of 20 to 60 minutes manually clearing conditions on each flagged loan, adding up to an estimated $19,500 in unnecessary annual underwriting costs per associate. In a new National Mortgage News article, Chris McEntee, VP of Product and Corporate Development at ICE, breaks down why legacy systems may fail against today's AI-enabled fraud and how modern detection tools and better data help streamline loan approvals by allowing faster, more confident decision making.
Affordability pressure doesn't disappear when the loan closes. It comes back later as repurchase risk. Your borrowers are stretched, leaving less room for errors in the file. Truework, a Checkr company, verifies income, employment, and assets before you close, replacing error-prone processes with fast, automated reports pulled directly from sources. Lenders see up to 50 percent cost savings on verifications, with faster turn times and higher accuracy. Learn more.
Don't Let a Mortgage Term Stand Between Your Borrower and Their Keys. A great DPA borrower shouldn't lose their shot over a loan term. But that's exactly what happened when AUS returned a 25-year first mortgage instead of 30, until now. Kind National DPA and FHA National DPA have expanded to support 25-year first mortgages alongside 30-year, opening a new approval path for borrowers who were this close. Same up-to-5 percent assistance for down payment and closing costs. Just more flexibility to get deals done. Check your pipeline for files that stalled on term length, they may qualify today. Connect with your Kind AE to learn more! Not an approved broker? Join the Kind movement and discover why more brokers are choosing Kind. *High Balance and Buydown only available on 30-year first.
Meet the new Covius Settlement Services. Covius has completed the integration of Title365's operations, bringing two proven title businesses together under one unified offering: Covius Settlement Services. The result? A full range of origination, home equity, default, and capital markets title solutions, all accessible through Covius Connect's APIs under a single MSA. Built on more than 100 platform integrations across major POS, origination, servicing and default systems, Covius Settlement Services helps lenders, servicers and investors process more loans, faster and more accurately, while reducing risk and ensuring compliance every step of the way. Whether you're managing origination volume, home equity growth, or default title complexity, one connected platform now handles it all. Lenders and servicers looking for a single, tech-enabled partner for title and settlement have a new option worth exploring. Learn more about Covius Settlement Services.
With homeowners sitting on record equity and clinging to low first-lien rates, offering a streamlined digital HELOC has become the single best strategy for originators to capture immediate volume and defend their client database. But tapping into that demand only works if you can actually close the loans, which requires a strong buy box, fast closing speed, and dedicated processing teams that fight to save complex files. When originators receive white-glove support for themselves and their borrowers, plus an integrated Client Success team focused on driving production, HELOCs turn from an operational headache into a primary growth engine. See how NFTYDoor elevates the home equity conversation at nftydoor.com/partner-application.
RAMS Mortgage Capital launched the Double Pledge Protection Program (DP3), a digital-first technology solution built to identify and flag potential duplicate pledging of mortgage assets across competing credit lines before risks compound and losses escalate. RAMS Mortgage Capital is inviting all warehouse lenders to participate. Designed for simple implementation, onboarding requires minimal IT resources from participating institutions. DP3 addresses the persistent challenge of double pledging, whether driven by deliberate fraud or operational error, which can instantly threaten a lender’s capital position. DP3 provides daily visibility into participating collateral and an early-warning mechanism to catch duplicate pledges, stopping isolated exceptions from escalating into major losses. (Contact Vik Kasparian with questions.)
Chrisman Demo Day is a free perk for all Chrisman Marketplace members. If you're a technology or service provider and haven't joined the Marketplace yet, reach out to Jake Perkins at info@chrismancommentary.com to learn more.
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.
Webcasts and Training
AI, COMPLIANCE, AND WHAT'S NEXT: INSIDE DARA REGIQ. Hear from Sagent’s Chief Compliance + Customer Success Officer Matt Tully during a LinkedIn Live event (Tuesday, 9/1 at 1pm ET) for a down-to-the-roots conversation on how AI is changing the way servicers identify, understand, and respond to regulatory change. With servicing teams operating across thousands of rules, investor requirements, and industry guidelines, all while regulatory expectations continue to evolve, staying compliant can feel like a moving target. That’s where Dara RegIQ comes in. Learn how Dara RegIQ brings regulatory intelligence directly into the servicing ecosystem, helping teams understand what changed, where it matters, and what may require action. Don’t miss this exclusive conversation on what’s next for AI-powered compliance and how Dara RegIQ is helping servicers keep pace with change.
Every lender knows UAD 3.6 is coming November 2nd. Fewer have realized that once appraisal turn times are factored in, the operative deadline is closer to October 1st. Reggora recently hosted Fannie Mae Credit Risk Manager Ken DeFeo and Reggora VP of Account Management Dan English, moderated by Jodi Hall, President and CEO of The Mortgage Collaborative, for a 45-minute working session on what actually changes: five forms collapsing into one dynamic report, roughly 750 new data points, LOS integrations that may quietly break, and why underwriting is a heavier training lift than operations. The recording is now available on demand with. Watch it here.
Today at 10AM PT is Mortgages with Millennials when Kristin Messerli and Robbie Chrisman are joined by Josip Rupena for a conversation on how innovation is expanding access to homeownership. The discussion explores alternative financing methods, underwriting nontraditional assets, the evolving role of crypto as an asset class, and the growing range of mortgage products designed to meet the needs of today's borrowers.
Join CondoAnalytics and special guest Jodi Horne, Principal at Fannie Mae today at 1PM CT for an educational webinar designed to explain FNMA’s condo requirements, why they matter, and how associations and management companies can better prepare for the lender review process.
Also today, join MMLA on from 12:00 – 1:30 PM for the fourth session of their UAD Lunch & Learn series. They’ve secured exclusive access to expert speakers from Fannie Mae and Freddie Mac to give you the insider edge you need to stay ahead of the curve.
Capital Markets
Bonds started the week quietly, with longer maturities outperforming as the market focused on reports that the Treasury could tap its nearly $1 trillion General Account to fund long-end bond buybacks. It’s old news that yields on 30-year US bonds broke 5 percent last week, a level not seen since before the financial crisis. Most of us know that the Treasury bought bonds in an attempt to lower yields; it worked for a day, then yields went back up. Long rates face sustained upward pressure from widening deficits, surging AI-related corporate debt, and a shift from central banks to leveraged private investors as Treasury buyers.
America’s worsening debt problem ($40,000,000,000,000 is a very big number) reflects decades of fiscal inaction. The Treasury increasingly relies on short-term bills and long-end buybacks to manage weak demand rather than addressing the underlying deficit. Sure, this strategy may temporarily suppress long-term yields, but it risks pushing up short-term rates, forcing greater Fed intervention, and ultimately leaving higher taxes and spending cuts as unavoidable/painful adjustments if markets lose confidence. It’s worth noting that the next major move in bond markets appears less dependent on Treasury buybacks and more on whether growth, inflation, risk assets, and ultimately the Fed can overpower the trajectory of government finances.
The housing market is increasingly bifurcating into ownership markets, where incomes, migration, and housing supply make the monthly payment work, and renter markets, where high land costs and regulatory constraints keep ownership out of reach. Millennials still strongly want to own but are adapting through smaller homes, longer commutes, lower-cost metros, and dual incomes, while emerging solutions such as shared appreciation, employer-assisted housing, and co-buying are expanding the toolkit. Lenders have stopped defining affordability by home price and down payment and instead focus on monthly payment and the structural factors (i.e., income growth, migration, supply, and innovative financing) that determine whether ownership is actually attainable.
Today’s economic calendar kicks off later this morning with June’s FHFA Housing Price Index and July’s S&P Case-Shiller Home Price Index. We will also receive July New Home Sales, August Consumer Confidence, results of a $69 billion 2-year Treasury auction, and remarks from Richmond Fed President Barkin. We begin Tuesday with Agency MBS prices better from Monday’s close by .125-.250, the 2-year yielding 4.21, and the 10-year yielding 4.66 after closing yesterday at 4.70 percent.
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