“What do Costco and Las Vegas have in common? You go to buy a gallon of milk, and it costs you $285.” There isn’t a lot of autumn foliage here in Las Vegas, but if you’d like a map of the fall colors, here you go. I’ve received a few comments about how the industry is changing, and in curious ways. There is some creative thinking out there. Along those lines, I received this note. “Rob, have you heard of a title company franchise where LOs and brokers keep title fees, and “own the revenue stream yourself”?” Yes, I think that you’re talking about Proliant Settlement Systems. Does it mean that you could have real estate agents, loan officers, and title officers all working for one company? I don’t know… ask your attorney. Every lender has an attorney these days, right? And innovation is out there. UWM and Bilt announced a strategic partnership whereby UWM mortgage customers can “earn valuable Bilt Points with each on-time payment while accessing exclusive Neighborhood Benefits™, creating an entirely new value proposition for both homeowners and the independent mortgage brokers who serve them:” here. (Today’s podcast can be found here and this week’s are sponsored by nCino, makers of the nCino Mortgage Suite for the modern mortgage lender. nCino Mortgage Suite's three core products nCino Mortgage, nCino Incentive Compensation, and nCino Mortgage Analytics, unite the people, systems, and stages of the mortgage process into a seamless end-to-end solution embedded with data-driven insights and intelligent automation. Hear an interview with Secure Insight's Andrew Liput and Halcyon's Kirk Donaldson on their integrated solution that combines borrower identity, income, and settlement agent verification into a single secure workflow, enhancing mortgage fraud prevention and compliance.)
Services, Products, Software, and Tools for Lenders and Brokers
What could your team accomplish if pricing was never a bottleneck? Beeline Loans found out. Faced with unreliable systems that disrupted quoting and locking, the company made a decisive shift to Optimal Blue, the only end-to-end capital markets platform built on modern, cloud-native technology and backed by over 20 years of proven expertise. With optimal uptime and seamless API integration, Beeline eliminated manual work, reduced tech costs, and gained full control over pricing logic. Its sales team now moves with speed and precision, powered by transparent data and consistent execution across every system. CompassEdge added another layer of intelligence, helping the company manage risk and make smarter decisions without building a full trading desk. The result? A complete workflow transformation driven by technology that scales and expertise that delivers. Read the case study to see how Beeline reengineered its operations with Optimal Blue.
Want pricing transparency and a larger bottom line? Tired of paying for the “support” that the company should be providing you without hidden margins and unnecessary fees? Get live true transparent pricing, real-time P&L clarity, and a compensation plan YOU shape for your team. Build your business with eyes wide open with leadership working for you to ensure your success. We’ve been proving it for 60 years. Let us prove it to you today.
Looking for a modern, accurate, and transparent AVM solution? Introducing Procision AVM by First American Data & Analytics, a next-generation automated valuation model built for today’s mortgage and real estate professionals. With nationwide coverage, daily updates, and unmatched accuracy, Procision AVM empowers lenders, servicers, and investors to make smarter, faster decisions. Now’s the perfect time to experience the difference—start your 30-day free trial today and see how Procision AVM delivers the insights you need with the confidence you expect from First American. Learn more.
PlainsCapital Bank National Warehouse Lending, a subsidiary of Hilltop Holdings (NYSE: HTH), is committed to providing mortgage lenders with a sustainable funding source in an uncertain market. With over 30 years’ experience, a well-capitalized, diversified financial holding company, PlainsCapital Bank National Warehouse Lending provides confidence to meet our mortgage lending partners funding needs. With exceptional operational performance, and a focus on relationship-driven business geared towards long-term success, we do not dwell on unnecessary fees. With PlainsCapital Bank National Warehouse Lending there are NO non-usage fees, NO application or renewal fees, NO third party due diligence fees or Third Party Doc Custodians and NO interest charged on the day your loan funds. If you are interested in learning more about PlainsCapital Bank National Warehouse Lending please contact Deric Barnett, (469)955-6786.
“Approve loans faster, with confidence: Gateless Smart Underwrite®. Built for modern lending, our AI-driven platform transforms the underwriting process by reading and understanding borrower documents, verifying credit & assets against trusted sources, calculating income, and clearing conditions automatically. No more bottlenecks. No more stare and compare. No rekeying of data. Smart Underwrite helps deliver accurate, consistent decisions in hours, not weeks, so lenders can approve more loans, reduce risk, and give borrowers a smoother, faster path to ‘yes.’ Scale your operation BEFORE you need to and future proof your business! This is underwriting without the wait. See it in action: book your demo today.”
The commercial lending market is booming, with $2.7 trillion in maturing loans over the next five years and a shortage of brokers to meet demand. Oceanview, led by 25-year veteran Chris Perez, offers a turnkey broker partnership that lets residential brokers tap into this opportunity without disrupting their current business. Certified brokers receive marketing support, AI-powered tools, expert training, and access to a 6,000-lender network. Brokers like Claudia in Illinois are earning $20,000–$30,000 monthly with just a few hours a week. Chris is seeking 10 brokers per state to join this exclusive program. In early breaking news, three billion-dollar companies are joining the Ikenekt AI family for real estate consumers, with Oceanview as the benefactor of all commercial deals, creating a new wave of millionaires. Ready to ride the wave? Schedule your one-on-one strategy session today.
This isn’t CLICKBAIT… It’s Real Talk. On October 29, Finance of America is hosting Real Talk: Reverse Mortgages Are the Future, a free live webinar designed to challenge the misconceptions about reverse mortgages. The truth is simple: They're just a home equity loan with a few unique features. Hear directly from our field experts as they explain why this product has worked for so many homeowners and why brokers across the country are adding it to their lineup. With $13.95 trillion in senior home equity available, the opportunity is too big to ignore. Click here to register today. For business and professional use only. Not for consumer distribution. Finance of America | NMLS #2285
The mortgage industry is undergoing one of the biggest technological shifts in history, and AI is at the center of it. Joe Welu, Founder & CEO of Total Expert joined Lykken on Lending with David Lykken to discuss how Total Expert’s new AI Sales Assistant is transforming the way lenders engage with customers. From lead incubation and database mining to post-close relationship management, Joe explains how voice AI is helping originators scale productivity, improve retention, and focus on delivering high-value advice. With compliance built in and multiple AI agents rolling out, this conversation offers a glimpse into the future of lending and why those who adopt AI will hold a major competitive advantage. Watch now!
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.
Industry Chatter: Non-QM Helping Volumes
All real estate is local, and research shows that the pros and cons in one area certainly don’t match those in another. Excess inventory, for example, in the Southeast doesn’t match the lack of inventory in the Northeast.
Non-QM, and non-Agency lending in general, continues to increase, taking market share away from the Agencies. Whether or not the Agencies are doing much about it remains to be seen. While agency products are going away from the Agencies and into private label securities, government officials continue to assure the MBA that any move away from conservatorship should, and will, minimize any increase to mortgage rates.
Many companies who have seen an increase in non-QM production are selling these loans (primarily on a best-efforts basis) to companies that either quickly aggregate the product and issue their own securities or add them to their own portfolio. (“Quickly” because no one wants to be exposed to spread risk inherent with these loans.) Lenders are pushing forth their own guidelines to these counterparties, hoping that they will give them a slight advantage in the primary markets with borrowers, but with a careful eye on fraud, especially with DSCR products.
In the HELOC and 2nd sector, lenders are analyzing investors for speed and ease of close versus rates. Generally, the faster the close, the less competitive the rate, which may be fine with LOs.
For adjustable-rate mortgages, jumbos, and doctor loans, capital markets staff continue to search for the “Holy Grail” in terms of product, rate, and ease of close. With the MBA’s economists, along with many others, forecasting headwinds such as tariffs and inflation keeping mortgage rates above the 6 percent mark, It’s a real job!
LOs and New Ways to Use Technology
Over the weekend I received an “MLO VieauxPoint” Ethan Vieaux, VP of Customer Success, FinLocker. “In my last piece, I wrote about Sora 2 and its potential to transform video creation for mortgage professionals. What led me there wasn’t curiosity about video. It started months earlier when I built a series of custom GPTs for FinLocker. Those projects became my testing ground for understanding how new technology can make a real difference in how loan officers connect with clients and partners.
“The FinLocker GPT Toolkit was created to solve a simple problem. Loan officers were interested in using new tools but didn’t have time to learn or worry about compliance. They needed guided, industry-specific assistants that fit into their daily workflow. The toolkit now helps with everything from social posts and emails to co-branding materials and webinars.
I saw how these tools were being used in ways that went beyond marketing. Loan officers started using them to grow their top-of-funnel, onboard agents into their co-branded FinLocker apps, and keep prospects engaged with personalized education.
“That experience led me to explore Sora 2, OpenAI’s video creation platform, and build a Prompt Builder to help professionals create short, high-quality clips and animated walkthroughs. At its current stage, Sora works best as a supplement, ideal for bite-sized informational content or visuals that enhance larger videos.
“Whether written or visual, the goal remains the same. Make marketing more human, more consistent, and more scalable. The FinLocker GPTs and the Sora prompt builder share a single purpose: simplifying complex tools so professionals can focus on relationships, education, and trust. If you’re experimenting with new tools or curious about how they might fit into your process, I’d love to hear what you’re seeing.” Thank you, Ethan! #VieauxPoint Read the published full article on Chrisman Commentary.
Capital Markets
Without much in the way of economic releases, let’s turn to rates. U.S. Treasuries began the week quietly, with modest strength in long bonds pushing the 30-year yield to its lowest level since early April, while the 2-year note remained largely unchanged. Markets also welcomed a dip in the Secured Overnight Financing Rate amid rising liquidity concerns.
Despite dipping to 3.93 percent during Friday’s session, 10-year yields failed to close last week below 4.0 percent and are expected to remain range-bound ahead of this Friday’s September CPI release, which could determine whether yields finish the week with a 3-handle. The recent drop in term premium, now at its lowest since April, suggests the market is looking past earlier bond-bearish concerns, and with long-end yields retreating, there is renewed confidence in Treasuries as an asset class heading into year-end. Headline risks around U.S.-China trade relations also linger.
Today’s economic calendar kicked off with Philadelphia Fed non-manufacturing for October. Later today brings Redbook same store sales, remarks from Fed Governor Waller, and more earnings from Wall Street. Today is also Class D 48-hours. We begin Tuesday with Agency MBS prices slightly improved from Monday’s close on no substantive news, the 2-year yielding 3.46, and the 10-year yielding 3.98 after closing yesterday at 3.99 percent.
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