“Apparently you can’t use ‘beef stew’ as a password. It’s not stroganoff.” How’s your privacy? Or another question: Why wouldn’t you tell your recent borrower to freeze their credit after the loan was done? TransUnion has filed data breach disclosures. According to the filings, this data breach, affecting millions of TransUnion customers through SalesForce, occurred on July 28, 2025, and was discovered a couple of days later. Data breaches are always fertile grounds for attorneys, and speaking of legal matters, Federal Reserve Board Governor Lisa Cook “did not ever commit mortgage fraud,” her lawyer Abbe Lowell said in a court filing bolstering arguments why a judge should temporarily block President Donald Trump from firing her. “Any of Cook’s statements that she made on mortgage applications, which Trump has cited as the reason for her termination, do not give the president legal cause to remove her. Lowell said multiple federal government entities received her mortgage details before the Senate first confirmed her nomination to the Fed in May 2022.” Nearly 600 economists signed an open letter warning that her potential firing threatens the Fed’s independence and erodes trust in a key pillar of the U.S. financial system. (Today’s podcast can be found here and this week is sponsored by Gallus Insights. Mortgage KPIs, automated, at your fingertips. Gallus allows you to turn data from your various databases and systems into automated business intelligence and actionable insights. Hear an interview with Porchlight’s David Wells on how the mortgage industry is shifting from a human-driven, siloed process to a fully programmatic, API-powered model that automates repetitive tasks, streamlines capital markets execution, and empowers loan officers to focus on high-value, trust-building relationships.)

Services, Software, and Tools for Lenders and Brokers

Join ICE today for its monthly Mortgage Monitor webinar where you’ll gain critical insights into U.S. housing and mortgage market trends. The information presented in this preeminent, widely attended monthly webinar is based on the most current data available from ICE's vast mortgage, housing, and property data assets, including the largest servicer-contributed loan-level database in the industry. Learn how borrower demand, housing affordability, interest rates, available equity, and other factors may impact your lending strategies. Register for the complimentary webinar which will be hosted today from 2 – 3 p.m. ET. Link to the webinar registration.

“Western Alliance Bank’s Specialized Mortgage Services Group and AmeriHome Mortgage extend a warm thank you to all who joined the All-Attendee Party kicking off the California MBA’s 2025 Western Secondary Market Conference. (Click here to see our thank-you post on LinkedIn.) As a conference sponsor and President’s Council sponsor of California MBA, the team was honored to co-host the event with Western Alliance’s wholly owned subsidiary, AmeriHome Mortgage. Western Alliance’s Specialized Mortgage Services Group has more than 16 years’ experience in mortgage warehouse lending. We deliver solutions tailored to mortgage warehouse lending, MSR financing, note financing, customized cash management, a whole loan trading desk focused on purchasing scratch & dent loans (send bid requests to SnD@westernalliancebank.com), advanced analytics and fraud protection. Contact the team at Western Alliance Bank, Member FDIC, or the AmeriHome team for a personalized consultation.”

Consistent, personalized engagement remains a challenge for even the most productive lenders and LOs. New leads need introductions, in-process applications deserve updates, and past customers will want to know about refi and equity options. So, the question is: how do you follow up on every opportunity while still providing a high level of personalization? Total Expert's AI Sales Assistant gives LOs an edge by proactively nurturing leads, qualifying prospects, and keeping loan applications moving with human-like voice and SMS communications, then handing things off to the LO when the time is right. Learn how leading lenders are harnessing the power of AI-enabled mortgage tools in our latest blog: AI Revolution—From "Discovering Fire" to Real Business Outcomes.

“Attending the MBA Compliance and Risk Management Conference? Meet the SettlementOne team to learn how our Credit and Reverifications solutions strengthen compliance and reduce risk. From post-close QC soft credit pulls to reverifications of employment and tax transcripts, we deliver mortgage quality control solutions lenders need to protect data integrity and satisfy investor requirements. Seamlessly access all major bureaus through MeridianLink’s Mortgage Credit Link platform, which is fully integrated with Aces Quality Management and Loanlogics, offering batch capabilities, VOE tracking and reporting, and web access. Backed by 25+ years of experience, SettlementOne combines premium credit services with a “People First” approach, ensuring unmatched support throughout the loan lifecycle. Don’t miss the opportunity to connect at MBA Compliance and Risk. Email accountservices@settlementone.com to schedule a meeting 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.

Correspondent and Wholesale Product News

NAHB reports that new home sales remain flat as affordability concerns persist, leaving builders looking for ways to attract buyers without sacrificing margins. Loan officers who can deliver solutions that ease payment concerns have a clear advantage in strengthening builder relationships. Click n’ Close’s SmartBuy 5/1 ARM with Down Payment Assistance is built for this environment. Pairing a competitive ARM first mortgage with a repayable second, SmartBuy provides funds that can be applied to down payments, closing costs, prepaids, or even a rate buydown. The result: lower upfront hurdles and more approachable monthly payments for buyers, all while giving loan officers a product that aligns directly with builder priorities. When inventory lingers, SmartBuy helps turn interest into action. Bring builders a solution designed for today’s market. To learn more about the SmartBuy suite of DPA products, connect with a wholesale account executive or email correspondent@clicknclose.com today.

“Are you a mortgage broker that is tired of slow underwriting or approvals that change depending on the day or desk? It’s not just frustrating; it’s costly. That’s why we’ve built something different. Meet Sierra, powered by JazzX AI, a digital underwriting assistant woven directly into our proprietary LOS ExpressLoan® to help you automate tasks, analyze data, identify issues, and ultimately expedite your turn times. Sierra Pacific Wholesale continues to invest in technology that enhances, not replaces, your expertise. As Sierra learns and evolves, so will the ways she supports you. If you’re interested in learning how ExpressLoan® and our other origination tools can support your business, we would love to connect with you.”

It’s Non-Stop Non-QM Mania at Carrington Mortgage Services! Carrington is turning up the heat this month with dramatic pricing improvements… So don’t wait, price out your deals today! October is packed with action: Meet them at NAMB, or at the iconic Fontainebleau for the MBA to talk Delegated and Non-QM strategies. Carrington is also looking for experienced Non-QM account executives across the country: have a confidential conversation with their VP of Sales, Jeff Massotti. Finally, want to know why giving Carrington the First Look for Non-QM makes all the difference? Schedule time now or reach out to learn more!

In-Person Events and Training

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!

September 7 through the 10th, in Boise, Idaho, is the Pacific Northwest Mortgage conference. Hear from the MBA Chairperson Laura Escobar, forward thinker Kristin Messerli, Guild’s David Battany, Robbie and Rob Chrisman, and other top-notch speakers about our industry and where we’re going. And the IMLA is hosting an Originator Super Session Tuesday, September 9th, 1:00pm - 5:00pm at the Grove Hotel.

O'ahu Hawai‘i is facing a growing crisis in insurance affordability and availability, with implications for homeownership, business investment, healthcare, and public sector finances. Rising costs, climate change, and uncertainty in federal policy are creating instability across multiple sectors. Join Hawaii Economic Associations 2025 Conference, September 9, 8:30am - 4:30pm Halekulani Hotel, on trends and prospects of the Hawaii Insurance Industry.

September 11-12 there’s the Mortgage Bankers Association of Mississippi Fall Conference in Jackson. Check out “Success Through Synergy!”

If you’re near New York, check out the annual NYMBA’s convention, 9/15-9/17.

Network and collaborate with your industry colleagues while learning the latest updates on mortgage industry standards at MISMO’s Fall Summit 2025, September 15th – 18th in Annapolis, MD. Learn how industry leaders are taking advantage of credit scoring changes. Join featured panelists on Tuesday, September 16th to explore how to take the reins of reform, what these changes mean for the mortgage ecosystem, and how MISMO is shaping the path forward.

The MBA of Florida Loan Officer Summit is on Thursday, September 18, in Jacksonville, FL. This dynamic half-day workshop featuring keynote speakers, engaging panel discussions, lunch, and valuable networking. Walk away with actionable strategies you can put into practice immediately to grow your business.

ACUMA’s 2025 Make Your Mark Annual Conference is coming up! Join credit union lending professionals and industry leaders from across the country September 21–24 in Denver, Colorado, for one of the year's most impactful credit union mortgage events. This year’s conference promises dynamic speakers, timely insights, hands-on learning, and powerful networking opportunities. This is your chance to make connections that matter and be part of shaping the future of credit union mortgage lending.

“The 2025 Loan Vision Innovation Conference is where mortgage finance leaders come to connect, learn, and innovate. Join us in Atlanta, GA, from September 22-24 for three days of expert-led sessions, real-world strategies, and networking with the best in the industry. From cutting-edge technology to efficiency-boosting insights, LVIC25 is designed to help you drive profitability and stay ahead of the curve. Connect with top lenders and financial leaders shaping the future. Register now!”

Join OMBA, Tuesday, September 23, 4:00 PM - 6:00 PM PDT at The Tumwater Vineyard. Presenter AJ Crawford, Director of Strategic Partnership Torenly Insurance, will discuss what is causing the Hard Insurance Market and how you can help your clients.

The MBA's Compliance and Risk Management Conference is Monday, September 29, (8:30AM -11:15PM and 2PM-5:30PM). The conference offers attendees the opportunity to hear from current and potential business partners at the premier gathering of risk management, quality control, underwriting, and fraud prevention professionals on the key issues facing the industry. Click Here for the event schedule.

Join CMLA in Vail for a three-day experience where Colorado’s mortgage industry leaders come together to connect, collaborate, and chart a course for excellence. This year's theme is "Destination Excellence: One Industry, United in Purpose." Register for the 2025 Annual Convention held at The Hythe Hotel, Wednesday, October 1, from 1PM - Friday, October 3, 12:00.

The 2025 MBA Annual Convention & Expo will begin October 19 in Las Vegas.

STRATMOR Group’s Consumer Direct Workshop is back, live in Charlotte, NC, November 5–6. Designed specifically for lending executives in the Consumer Direct channel, this workshop goes beyond theory with peer-to-peer discussions, benchmarking, and practical strategies you can implement right away. Learn from peers and STRATMOR experts about what’s working now in sales execution, comp structures, marketing channel allocation, technology adoption, and more. The format is interactive, candid, and collaborative, a rare opportunity to learn directly from industry peers and STRATMOR experts. Registration is open now, and seats are limited. Learn more and secure your spot here.

On November 19th the Mortgage Bankers Association of St. Louis will have a fine luncheon with a discussion of industry trends.

On November 20th, the Mortgage Bankers Association of Kansas City will have its annual BBQ/Thanksgiving event! Watch for sign-ups.

Capital Markets

In today’s competitive lending landscape, MCT’s tailored solutions are helping lenders stay ahead. In MCT's recent case study, Katie Jones, SVP and Capital Markets Director at NOLA Lending Group, shares how her team transformed operations through their partnership with MCT. By leveraging MCTlive! for hedging and loan sales execution, along with MSR Services, NOLA achieved a 29-basis point increase in profitability and saved 8 basis points through MCT's AOT functionality. NOLA has also leveraged MCT’s MSR services for 3 MSR bulk sales. Jones states, “The MCT Team have consistently proven themselves as trusted advisors and leaders in this industry. Their core values align seamlessly with ours and their drive to not just evolve but innovate, with a genuine passion for client success, is what sets them apart.” Subscribe to MCT’s newsletter for real-world insight into how MCT provides customized support for lenders.

President Trump asking the Supreme Court to rule on the legality of his tariffs is stealing the headlines, but U.S. labor market data continues to signal cooling momentum. Yesterday’s JOLTS report showed job openings fell to 7.181 million in July, the lowest level in 10 months and the weakest since 2021. The job openings rate dropped to a cycle low of 4.3 percent, and for the first time since 2021 there are now fewer than one job opening per unemployed worker. Both hiring and layoff rates remain subdued, suggesting a cautious stance from both employers and workers. Attention now turns to upcoming employment data, with several labor market data points today and the Employment Situation Report from the Bureau of Labor Statistics tomorrow, expected to show that 78k jobs were created in August.

The Federal Reserve’s August Beige Book painted a picture of economic stagnation, noting “flat to declining consumer spending” as household wages failed to keep pace with rising prices. While overall activity remained largely unchanged since the previous report, persistent uncertainty around tariffs continued to weigh on business sentiment, with nearly all Districts reporting tariff-driven cost pressures, particularly on input prices. In response, retailers and hospitality firms increasingly turned to discounting strategies to sustain customer demand. Employment levels held steady across 11 Districts, while 10 reported only modest or moderate price growth, reinforcing the view of an economy caught between slowing consumer momentum and lingering inflationary pressures.

It’s a packed economic calendar today, and it kicked off with several labor market indicators: job cuts from Challenger, Gray and Christmas for August (U.S.-based employers announced 85,979 job cuts in August, up 39 percent from the 62,075 announced in July, up 13 percent from the 75,891 announced in the same month last year), ADP employment for August (54k, below expectations), and weekly jobless claims (237k, shooting higher). We’ve also received the July trade deficit and final Q2 productivity and unit labor costs.

Later today brings final August S&P Global services PMI, the ISM equivalent, Treasury supply consisting of $58 billion 3-year notes, $39 billion reopened 10-year notes and $22 billion reopened 30-year bonds, Freddie Mac’s Primary Mortgage Market Survey, and remarks from New York Fed President Williams and Chicago Fed President Goolsbee (this is the last week of Fed speakers before the September 16-17 FOMC meeting). Additionally, the Senate Banking Committee will hold a nomination hearing for Stephen Miran to become a member of the Federal Reserve Board. We begin the day with Agency MBS prices slightly better than Wednesday’s close, the 2-year yielding 3.60, and the 10-year yielding 4.19 after closing yesterday at 4.21 percent.