A while back I was watching the news on TV, and they were interviewing a couple whose home was threatened by a tornado, but who didn’t leave. “God will protect us,” they told the reporter as the wind picked up. Who did they think sent the tornado in the first place? Lenders and servicers know that “tornado alley” has shifted, and with it the geographic range of possible damage. It’ll be 98 degrees here in Dallas today, although Robbie and I are heading to Vancouver, WA, to visit Banner Bank for its Mortgage Banking Sales Conference. The fact is that this summer has been the hottest on record. (For some “weather” related trivia, remember the snow in the poppy scene during the Wizard of Oz? Probably asbestos, just like “It’s a Wonderful Life.”) (Today’s podcast can be found here. This week’s ‘casts are sponsored by FirstClose, which provides fintech solutions to HELOC and mortgage lenders nationwide. Their home equity lending platform accelerates the home equity lending process, reducing application-to-closing times from 45 days to less than ten. Today’s has an interview with Lender Price’s Maddi Sievers on tips for success for both companies giving and receiving tech demos.)

Broker and Lender Products, Software, and Services

Week 2 of the NFL season is a perfect reminder that a great playbook only works when the right team is there to execute it. The same holds true for technology transitions. In a recent ACUMA Pipeline article, Floify’s Head of Customer Experience & Operations Sol Klein breaks down five things credit unions (or really any lender) should expect from a technology partner during a system transition, from vendors doing the heavy lifting on implementation to support that doesn’t disappear after go-live, training built around how your team actually works, integrations that keep data flowing cleanly, and realistic timelines instead of oversold promises. Heading to ACUMA’s Make Your Mark Annual Conference? Schedule time with the Floify team to discuss what a smoother transition could look like for your credit union.

“Buy Before You Sell - make it easy and close fast with the Symmetry Piggy-Back Option! Bridge the gap between Jumbo or Agency High Balance with a lower-rate first mortgage and a Symmetry Piggy-Back HELOC. No penalty to Pay Down the 2nd Mortgage HELOC after the exiting property sells, giving borrowers future access to their available equity. This Piggy-Back structure is designed as a lower Cost Option vs a Bridge Loan. Plus, we can use the Full Appraisal from the first mortgage for all line amounts & Title from the first mortgage for 2nd mortgages of $250K or less. Contact your Symmetry AE today!”

“Meet MeridianLink Mortgage at ACUMA Make Your Mark. The MeridianLink® Mortgage team is headed to Las Vegas for ACUMA’s Annual Make Your Mark Conference September 20-23. If you’re also attending, let’s connect while you’re there! Schedule a few minutes to chat with us at Booth #32 and see how MeridianLink Mortgage is helping lenders like you outpace industry-wide mortgage volume growth, lower origination costs, and streamline service through a fully integrated, data-backed ecosystem, personalized, configurable borrower journeys, automated and AI-enabled underwriting, pricing, and margin management, and real-time compliance checks, rules, and alerts. Book a one-on-one meeting here.”

Feeling anxious about the Nov. 2 deadline for the new Uniform Appraisal Dataset (UAD) 3.6? There’s still time to attend MGIC’s 2-part training webinar, Appraisals & UAD 3.6: The Future of Property Valuation Is Here to get up to speed. Register for Part 1, scheduled for Tuesday, Oct. 6, to better understand what the enhanced Uniform Residential Appraisal Report (URAR) will entail; and separately register for Part 2 on Thursday, Oct. 8, to dive deeper into evaluating the new URAR and then learn how to apply it in real-world lending scenarios. Clock’s ticking, register for both today!

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.

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.

FEMA, Disasters, Servicers, and Lenders

FEMA Disaster Announcements: DR-4933-IN, DR-4936-HI.

On 8/25/2026, with DR-4933, FEMA declared federal disaster aid with individual assistance has been made available to 21 counties in Indiana affected by severe storms, tornadoes, and flooding from 8/11/2026, and continuing. See AmeriHome Mortgage 20260811-CL Disaster Announcement for inspection requirements.

Onity Mortgage posted Disaster Announcement regarding FEMA’s declaration, for Indiana DR-4933 and updated miscellaneous entries with monitoring end dates on/or before February 10, 2026, that were removed.

On 9/1/2026, with DR-4936, FEMA declared federal disaster aid with individual assistance to a county affected by an earthquake on 5/22/2026. See AmeriHome Mortgage 20260902-CL Disaster Announcement for inspection requirements.

Onity Mortgage posted a Disaster Announcement regarding FEMA’s declaration, for Hawaii DR-4936 and updated miscellaneous entries with monitoring end dates on/or before February 10, 2026, that were removed.

M&A

Private equity firms are doing more than gobbling up veterinarians around the United States. On September 14, 2026, private equity firm Genstar Capital and investment provider Aksia announced a strategic growth investment in Richey May, a top 50 U.S. accounting and advisory firm. Genstar Capital led the investment, joined by Aksia and existing investor F3 Partners. As our industry knows, Richey May is a full-service firm based in Denver, Colorado, providing accounting, tax, and advisory services. “The new capital will fund Richey May's organic growth and mergers-and-acquisitions (M&A) strategy as it builds a national platform.” Yes, I knew Keith May and Ken Richey, both retired, but Richey May's management team and F3 Partners are retaining significant ownership stakes in the company. (Guggenheim Securities advised Richey May and F3 Partners, while BMO Capital Markets advised Genstar.)

Capital Markets

Agile Trading Technologies built an electronic MBS platform to give you back something invaluable: time. When software can accurately trade in seconds and reduce multiple trade issues per settlement cycle that's not just efficiency: it's an opportunity. An opportunity to reconnect with a counterpart and have a real conversation about where this industry is heading. The lender and dealer relationship has always been built on trust, insight, and shared purpose. Technology can streamline the transaction, but it can never replace the relationship behind it. The best partnerships in this business don't live in the transaction, they're built in conversations. So, as you find yourself with a little more breathing room in your day, use it to reach out to your dealers. Invest that reclaimed time into the relationships that will carry the MBS market forward. The market changes. Relationships endure. Improve your relationships alongside your efficiency at trade-agile.com.

Agency MBS and Treasuries came under renewed selling pressure again yesterday as rising oil prices pushed yields higher. Longer-duration securities gave back early gains and the 20-year Treasury reopening drew notably weak demand. The government had to offer investors a much higher interest rate (5.42 percent versus 4.85 percent at the previous auction) to attract buyers, while foreign investors participated far less than normal. Treasury Secretary Bessent attributed the rise in yields to global factors, including higher energy prices, showing that investors remain worried about inflation and where interest rates are headed.

Ah, Fed decision day. Markets are pricing in more than a 90 percent probability of a quarter-point Fed hike. It’s the first of three pivotal central-bank decisions in the U.S., UK, and Japan that could reshape the global monetary-policy outlook for the remainder of 2026, with the Fed facing particular scrutiny amid renewed inflation pressure.

Today’s economic calendar kicked off with MBA mortgage applications, which fell 4.1 percent last week as rising energy prices, persistent inflation, and uncertainty around monetary policy pushed the 10-year Treasury toward 5 percent and mortgage rates to their highest levels since May 2025. Refinance activity dropped 9 percent week-over-week and was down 65 percent year-over-year, while purchase applications slipped 1 percent seasonally adjusted and remained 19 percent below last year, underscoring continued pressure on housing demand.

We’ve also received August Retail Sales (+1.2 percent, ex-autos and gas +1.2 percent), August Import Prices (ex-petroleum +.8 percent), and August Export Prices (+.6 percent). Later today brings July Business Inventories, the September NAHB Housing Market Index, Weekly crude oil inventories… but all this pales in comparison to the aforementioned September FOMC Decision. We begin the day with Agency MBS prices slightly improved from Tuesday’s close, the 2-year yielding 4.63, and the 10-year yielding 4.98 after closing yesterday at 5.00 percent.