We’re sailing through autumn. Places like Seattle and Minneapolis are losing 3-5 minutes of sunlight a day. Donald Trump told Congress to end changing clocks, but is seems that most states will still do it (“spring ahead, fall back”) November 2. Time flies, and we’re 23 days away from Halloween. Despite how it’s celebrated by 5-year-olds and their parents, frat houses, or at many malls around the U.S., is thought to come from the festival of Samhain among the Celts of ancient Britain and Ireland. Its history also mentions the eve of the Western Christian feast of All Hallows' Day, and the beginning of the observance of Allhallowtide, the time in the Christian liturgical year dedicated to remembering the dead, including saints, martyrs, and all the faithful departed. For something more current, today’s Lenders One’s Mortgage Matters features Kyle Draper, real estate leader, coach, and speaker at 2PM ET, and tomorrow’s “The Big Picture” at 3PM ET features Meredith Whitney, “The Oracle of Wall Street,” of the Meredith Whitney Advisory Group will discuss “Stuck in Place” dynamics, CRE stress, and whether policy can help unlock supply. (Today’s podcast can be found here and this week’s are sponsored by Truework, the only all-in-one, automated VOIEA platform that helps mortgage providers achieve up to 50 percent cost savings with an industry leading 75 percent completion rate. Today’s features an interview with Bank of Oklahoma’s Chris Maloney on what’s driving strong performance in the Agency MBS market, the outlook for refinancing and home prices, and how Fed rate cuts are shaping lending conditions and future risks.)
Services, Products, Software, and Tools for Lenders and Brokers
Request a Pathways Home Demo! And see MMI CEO & Founder, Ben Teerlink on Mortgage Matters. Pathways Home, MMI’s new homeowner intelligence platform, debuts at MBA Annual. The app keeps lenders connected post-close with branded borrower insights into equity, market shifts, and refi opportunities. Demo slots are limited: request one today. And, don't miss on Oct. 15: MMI CEO & Founder Ben Teerlink will join Rob & Robbie Chrisman and Justin Demola CMB on Mortgage Matters webinar to discuss the launch of Pathways Home, MMI’s evolution, and what’s next for the future of borrower intelligence and mortgage tech. Register for next week’s webinar.
“Say Hello to Modern Lending Technology. Gridavate is launching a modern SaaS platform designed to meet the needs of 2026 and beyond, helping lenders stay agile in an evolving industry. Our solution combines customizable Fraud Detection, automated workflows, and continuous real-time FEMA Monitoring, delivered as a fully integrated feature or a powerful standalone tool. No more clunky systems, missed red flags, or costly manual work. With Gridavate, fraud prevention, risk management, and pipeline protection are about to get faster, easier, and smarter so you’re ready not just for today, but for what’s next. The future of lending tech is right around the corner. Learn more at www.gridavate.com or reach us at info@gridavate.com.”
“PlainsCapital Bank National Warehouse Lending, a subsidiary of Hilltop Holdings (NYSE: HTH), focuses on relationship-driven business with long-term success. By the way, have you heard about our BTW Services? We are pleased to offer all customers our Broker-Dealer, Treasury Management and Warehouse Lending (BTW) services. Our Broker-Dealers can help customers hedge their origination pipelines by buying and selling TBAs, specified pools and whole loan trading. Our Treasury Management team helps customers with escrow and cash management. Finally, the Warehouse Lending team provides customers with confidence to meet their loan funding needs. If you are attending the MBA Annual Conference in Las Vegas, NV and are interested in learning more about PlainsCapital Bank National Warehouse Lending please contact Deric Barnett (469)955-6786.”
What do 2,400+ minutes of mortgage insight sound like? Optimal Blue’s podcasts, Optimal Insights and Market Advantage, just hit their one-year mark, and they’ve been helping professionals like you stay ahead ever since. Optimal Insights delivers weekly episodes packed with real-time rate data and capital markets commentary, empowering confident, profitable decisions across the industry. Market Advantage brings Optimal Blue’s monthly mortgage data report to life, turning direct-source insights into expert-led conversations that reveal early lending activity and emerging trends. With 52+ episodes of Optimal Insights and 12+ episodes of Market Advantage, both shows offer perspectives from across the mortgage life cycle, powered by the industry’s only end-to-end capital markets technology provider. Whether you’re refining your pricing strategy or navigating market shifts, these podcasts are your shortcut to smarter decisions and better outcomes. Stay ahead: Subscribe now and get the insights that give you a true market advantage.
Imagine a proactive refi campaign that keeps borrowers engaged long before the boom hits. Loan Officer Autopilot delivers personalized, to-the-penny scenarios that say “not yet” with confidence, build trust as rates shift, and send a clear “now” the moment refinancing makes sense. Always consistent, always authentic, all at scale, with zero LO effort. Stay the borrower’s first and only choice when it’s time to refi. See it in action.
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 Products
“Verus Mortgage Capital, the nation’s #1 non-QM investor, is driving record-breaking growth for lenders nationwide. With the Fed’s recent rate cut and the prospect of more ahead, borrower activity is expected to increase, and the smartest lenders are preparing by adding non-QM solutions now. At Verus, we’ve seen the impact firsthand. August marked the best month in our company’s history, with September following close behind… And October is already on track to deliver more of the same. Our partners are capitalizing on this momentum by expanding their reach to creditworthy borrowers who fall outside traditional agency guidelines. When you work with Verus, you don’t just gain products. You gain a proven partner who delivers consistency, scale, and unmatched market leadership. Discover why so many lenders trust us to fuel their growth. Contact Jeff Schaefer, EVP of National Sales, at 202-534-1821. For more information, visit here.”
Equifax® “is driving important changes to support a competitive credit scoring market and reduce mortgage costs for American homebuyers and the mortgage industry.” Equifax is responding to FICO's doubling of their mortgage credit score prices to $10 in 2026 by “offering VantageScore® 4.0 mortgage credit scores at an over 50 percent reduction from FICO 2026 prices, or $4.50, through the end of 2027. Equifax will also offer free VantageScore 4.0 credit scores to all Equifax customers in mortgage, automotive, card and consumer finance who purchase FICO scores for the remainder of 2025 and throughout 2026.”
Training, Events, and Webinars
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!
The MBA Education Group launched a series of eleven modules designed exclusively for Board members and Senior Executives who need to understand the risk landscape across the loan lifecycle. All sessions are led by authorities in their respective fields and attendance is capped at about 30 to encourage participation and dialogue.
Module XI, is focused 100% on Artificial Intelligence in Mortgage Finance. Topics include the legal and regulatory landscape, risk and controls, road mapping, and deployment strategies, and how to thoughtfully create an AI-forward enterprise. The AI session is led by Tela Gallagher Mathias and you will not find a better person to speak to your leadership team. One quote from a COO of a an IMB regarding the September AI Board training was, “I've attended multiple AI conferences, webinars, and training events, including by folks from Open and AWS. So far this is the best one."
The 2026 series will launch in February and run through September, with sessions every few weeks. We have also coordinated several private sessions specifically for company Boards and senior leadership. If readers are interested in the 2026 series or private offerings, they can reach out to David Upbin.
Join MMBBA Thursday, October 9, 9:00 AM – 5:00 PM, at Coppin State University where Baltimore’s biggest players in housing are coming together at RECHARGE. Hear insights from Otis Rolley (Baltimore Development Corporation), Shelonda Stokes (Downtown Partnership), Alice Kennedy (Baltimore Housing Commissioner), Thibault Manekin (Seawall). Don’t miss your chance to be in the room. Ticket prices are $45 for MMBBA Members and $75 for Nonmembers.
Join Insellerate on October 9 for a free, no-pressure webinar that cuts through the AI hype. You’ll hear from Neil Sahota (United Nations AI Advisor) and Allen Chen (Mortgage AI strategist) as they reveal how top lenders are deploying AI today, without writing code or hiring dev teams. This is not a sales webinar; no pitches, no demos, just real-world insights on the platforms lenders are using, how to assess risk and compliance, and how to move forward with confidence. If you're serious about scaling smarter and staying competitive, reserve your seat now: Register here.
AI isn’t coming, it’s already here. How you adapt will determine whether you thrive or fade into irrelevance. In just 60 minutes, learn how to stay ahead or get left behind. Hosted by MMLA’s SE Chapter, join Dustin Owen, CMB, CEO & Founder of TLOP, on Thursday, October 16, 2025 - 11:00 a.m. - 12:00 p.m. for an insightful webinar on how to harness AI to your advantage.
The 2025 MBA Annual Convention & Expo will begin October 19 in Las Vegas.
October Research, LLC is offering the latest edition of the 2025 Economic Outlook Webinar Series on Oct. 16th, featuring First American Senior Economist Sam Williamson. Join us as he breaks down the latest economic developments, including the recent 0.25% interest rate cut, and explore how these shifts could impact your business. Gain a deeper understanding of the key forces driving today’s housing supply and demand and what to expect from the market in the months to come. Register today!
Capital Markets
Agile is transforming the mortgage-backed securities market by delivering efficiency, liquidity, and transparency to every trade. As a FinTech innovator, Agile is SEC-registered and a FINRA member, bringing trusted solutions to the residential mortgage lending industry. Exclusively focused on technology, not trading lines or proprietary trades, Agile digitizes and democratizes the TBA trading and BWIC auction process. For the first time, all mortgage lenders can trade TBAs with both regional and primary dealers electronically, replacing outdated phone-based systems with direct access, real-time pricing, and unmatched transparency. Meet the Agile team at the MBA Annual Conference in Las Vegas to explore how MBS trading is being redefined. Schedule time with Agile and experience the future of trading.
Is it me, or does right now feel like a real-life example of 57 Channels and Nothin’ On? Without the majority of our scheduled economic releases hitting the tape, as well as less news than normal emanating from D.C., we are left to sift through what’s available to stay informed. And I am seeing that despite slowing credit growth and elevated borrowing costs, U.S. consumers continue to spend steadily, supported by strong household balance sheets, record home equity, and relatively low debt-to-income ratios. The most recent prepayment report showed that higher coupons jumped on increased refi volume, while lower coupons were impacted by seasonals.
We learned yesterday that consumers see higher inflation in the year ahead, with signs that lower and middle-income households are feeling most of the burden of rising price pressures, according to a monthly survey from the Federal Reserve Bank of New York. Expectations for consumer price increases one year ahead jumped to 3.4 percent in September from 3.2 percent in the prior month. Separately, delinquency rates are climbing and lending conditions are tightening, signaling growing strain on households' ability to manage debt, particularly for credit cards and auto loans. As inflation, tariffs, and sluggish income growth begin to erode purchasing power, many consumers may increasingly rely on borrowing to sustain their spending, even as patterns of trading down suggest shifting behavior.
Today’s economic calendar kicked off with mortgage applications decreasing 4.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 3, 2025. Markets will also receive remarks from a laundry list of Fed speakers (St. Louis’ Musalem, Dallas’ Logan, Chicago’s Goolsbee, Minneapolis’ Kashkari, and Governor Barr) as well as the minutes from the September 16-17 FOMC meeting. Overnight, the RBNZ was out with its latest monetary policy decision, cutting the cash rates by 25-basis points to 2.75 percent. We begin Wednesday with Agency MBS prices are a few ticks better than Tuesday’s close, the 2-year yielding 3.56, and the 10-year yielding 4.10 after closing yesterday at 4.13 percent.
Get Rob Chrisman Daily by Email
