The unofficial Chrisman LLC sarcastic slogan is, “We do this not because it is easy, but because we thought it would be easy.” Hopefully, there are no lenders out there with that slogan, as residential lending, done the right way, is not easy. Sometimes residential lending seems discombobulated. Sometimes things settle down and become more orderly: recombobulated! (Workflow and improved lender efficiency are the topics of today’s Mortgage Collaborative Rundown featuring Donielle Geiser with Thrive Mortgage.) Not only is our biz not easy but it is also unpredictable. 2024 is shaping up to be another tough year for mortgage originations due to the market environment, and every basis point will matter. Capacity still needs to be right sized across the industry, and the market and your competitors will force that to happen. Would you rather have profitability or market share? If you’re losing money what difference does market share make? If you don’t have a HELOC or 2nd program, find one. Even companies like Rithm Capital (parent of New Rez, doing about $4 billion a month and who have done better than expected) are forecasting a dismal Q4 and a challenging 2024. (Today’s podcast can be found here, sponsored by Visio Lending and its top notch broker program. Visio is the nation's premier lender for buy and hold investors with over 2.5 billion closed loans for single-family rental properties, including vacation rentals. Listen to an interview between Robbie and me on the Commentary’s editorial process and its evolution over the years.)

Lender and Broker Software, Products, and Services

Are you looking for a cost-effective way to build your personal brand and capture demand in this challenging market? Do you want to be top of mind for the prospective home buyers in your market? If so, and you want a simple, easy-to-use suite of marketing tools to position you above your competition, then you need to subscribe to Tabrasa One! Tabrasa One is a brand new, all-in-one marketing platform with first-class marketing capabilities, from email marketing campaigns to impactful social media to leading-edge video to insightful market intelligence from our legendary Mortgage Market Guide, all rooted in a mortgage-specific CRM foundation. Tabrasa One can deliver unparalleled marketing impact for you at an unprecedented low cost. Sign up now:

In this market, hustle is everything. You can’t afford to waste a single deal… Or a single minute. That’s why ReadyPrice has launched Shop, Lock, Deliver. It’s an innovative platform designed to help independent mortgage brokers and their lenders save time and money. Now you can shop competitive loan offerings from multiple lenders, get rate lock guarantees in real time, receive underwriting findings, and deliver the borrower’s complete loan file to lenders, all on a single platform, at no cost to brokers. It’s already helping brokers around the country thrive and compete in the toughest market. Multiple lenders. One platform. Zero b.s. Come check us out today.

Get ready to energize your teams and learn new insights to win more business! Join Rocket Pro TPO with a live audience of 500 brokers Tuesday (11/7) at 1:30pm ET for their next IGNITE Live meeting, hosted by Executive Vice President, Mike Fawaz! Streaming from its All Access event in Detroit, find out how Rocket Pro TPO offers its partners more certainty, speed and expertise with Crews, the Credit Upgrade Team and the SOS Scenario Team, all dedicated to serve you. Talk to them to optimize your strategies around recent product changes including a Home Equity Loan CLTV/FICO expansion, more available census tracts for Purchase Plus and more LTV flexibility on VA, and up to 100% LTV on loan amounts over $1.5 million! Interested in learning more about a Broker or Non-Delegated Correspondent partnership? Contact Rocket Pro TPO to learn more.

Save $100 on every application with Truv! Orion Lending slashed their annual expenses by $300,000 and boosted their conversion rate by 32% using Truv's income and employment verification solution. "Truv transformed our verification process, expanding our reach and cutting costs," asserts Richard Plummer, EVP of Operations at Orion Lending. Stop the financial bleed. Contact TRUV today to discuss how we can help you with your income, employment, insurance, and asset verifications.

What's an internal audit anyway and do you need one? An internal audit acts as a third line of defense for your mortgage operation. It provides comprehensive assurance based on the highest level of independence and objectivity to evaluate the effectiveness of management’s internal controls. This function should advise your mortgage operation on plans to achieve the company's strategic, operational, financial and compliance goals. An effective internal audit should go far beyond just checking a compliance box; it should be an integral part of protecting your company. If you want to ensure you’re adhering to regulatory requirements and demonstrating good faith business practices, a Richey May internal audit is a good fit. If you’re looking to be Fannie Mae approved in the future or want to maintain your approved status, it’s required. If you’re unsure whether you need an internal audit, ask one of Richey May’s experts today or learn more here.

Training and Webinars Next Week

A good place for longer term conference planning is to start is here, and click on “events” for conferences in the future.

Today, Friday the 27th is The Mortgage Collaborative’s Rundown covering current events in the mortgage market for 30-45 minutes starting at noon PT, 3PM ET in “The Rundown”. Today’s features Thrive Mortgage’s COO Donielle Geiser.

Tuesday, Halloween, is the next Mortgages with Millennials with Kristin Messerli and Robbie Chrisman. Tune in every Tuesday at 10AM PT to the weekly video show designed to empower mortgage professionals to tap into the millennial market. This show demystifies the psychology of first-time homebuyers and offers strategies to win more market share with a key segment of the market. Sign up for a weekly reminder with the link to join and a sneak peek into the next episode.

A shout out to Lender Toolkit and its 2024 Supercar event in Las Vegas to kick off ICE Experience 2024 on March 18! The company is offering early bird discounts on sponsorships, but only until October 31. Imagine your logo on an exotic car with your clients and prospects behind the wheel. And yours truly will be doing a live podcast! To get the deal on sponsorships reach out to Brent Emler or grab the sponsorship form.

Join the AEI Housing Center for the 12th Annual AEI Housing Conference, Tuesday, Oct. 31st and Wednesday, Nov. 1st, both in-person and online.

Looking for more in-depth commentary on weekly mortgage news? Register here for "Mortgage Matters: The Weekly Roundup” presented by Lenders One. Every Wednesday at 2:00 PM EST/11:00 AM PT is a dive into a range of mortgage-related topics, including market trends, interest rate fluctuations, innovative mortgage products, and industry advancements. Listen to a unique mix of age perspective, expertise, and charisma to the screen, ensuring that the information is not only educational but also entertaining. This Wednesday’s features National MI!

The Knowledge Coop's new membership platform offers all state and federal Continuing Education courses in an engaging and exciting video format that you're sure to actually enjoy. Want to give yourself a sharper competitive edge? They also offer in-depth training on specific topics like VA Loans and FHA within their Coop Academy. Get access to industry experts and connect with other mortgage professionals all in one space. Use Code Chrisman10 for 10 percent off your first year of membership here.

Join the Appraisal Subcommittee (ASC) on Wednesday, November 1, from 10 a.m. - 1 p.m. ET for its third public hearing focused on appraisal bias, the residential appraisal process, and associated regulations. ASC provides federal oversight of state appraiser and appraisal management company (AMC) regulatory programs and monitors and reviews the Appraisal Foundation. The ASC is a subcommittee of the Federal Financial Institutions Examination Council (FFIEC).

Join MBA of Florida on November 2nd, 1:00 - 5:30 PM for a Loan Officer Summit at Orlando Museum of Art. Attendees will enjoy an interactive panel of top producing loan officers. This will be a moderated panel with opportunities for Q&A.

On November 2, the Montana Association for Mortgage Professionals is having a dinner at Stockman Bank in Missoula (321 W. Broadway).

Spend Time with the Best... Register for the MBAF LO Summit on November 2, beginning at 1:00pm at the Orlando Museum of Art. Enjoy interactive panel of top producing loan officers, conversation with realtors as they discuss best practices and relationship building in the real estate industry, Speaker Amir Syed of Growth Only Coaching plus networking and happy hour.

Become a Certified Veterans Lending Specialist, CoAMP is partnering with NAMB to bring their exceptional CVLS course to Denver on Friday, November 3rd, 8:30 AM – 5:00 p.m. Mountain Time. The certification training will cover VA lending basics in addition to advanced topics to set yourself apart. You will take the certification exam immediately following the course, upon passing you will be presented with your CVLS certification and marketing materials.

Friday the 3rd is The Mortgage Collaborative’s Rundown covering current events in the mortgage market for 30-45 minutes starting at noon PT in “The Rundown”.

Capital Markets

Higher rates. But rates are already high, and the bond market is doing the Federal Reserve’s rate-setting work for it. U.S. economic growth accelerated in the third quarter to a 4.9 percent seasonally adjusted annualized pace, signaling the economy remains resilient in the face of higher rates and still-elevated prices. That’s not necessarily good news for the Fed, as the central bank pumps the brakes on interest rate hikes in the wake of rising long-term bond yields and geopolitical turmoil. While persistent strength in demand could put the inflation descent in jeopardy, the report doesn’t change much for policymakers and the FOMC is still expected to leave rates unchanged at next week's meeting while reinforcing the case for restrictive monetary policy near-term.

The overall Gross Domestic Product (GDP) figure was powered by strong consumer spending, which rose 4 percent, strong government spending, and a sizable build in inventories which bumped up the investment portion. It should also be acknowledged that the core Personal Consumption Expenditure Price Index was up 2.4 percent in the third quarter, slowing significantly from 3.7 percent in Q2 and 4.9 percent in Q1. Across “the pond,” the European Central Bank refrained from raising rates for the first time in ten meetings, noting that underlying inflation has eased and is expected to continue decelerating but ECB President Lagarde refused to say that the peak rate has been reached, adding that it would be premature to discuss rate cuts.

Fed favorite PCE for September kicked off today’s calendar (+.4 percent). The core Personal Consumption Expenditure price index increased .3 versus 0.3 percent month-over-month expected and 3.7 percent year-over-year expectations and 0.1 percent month-over-month and 3.9 year-over-year previously. Personal Income was +.3 percent and Personal Spending was Later this +.7. morning brings final October Michigan sentiment, remarks from Fed Vice Chair of Supervision Barr, and more earnings from Wall Street. We begin the day with Agency MBS prices unchanged from Thursday’s close and the 10-year yielding 4.86 after closing yesterday at 4.85 percent.


Mortgage Equity Partners (MEP), a growing IMB headquartered in Massachusetts, continues to build upon its growth strategy. In addition to several recent high-caliber new hires on the sales and management team, MEP has done it again. Rick Dionne has joined the team as Vice President, Sales Business Development. Rick will use his extensive experience to help recruit best-in-class loan officers and branch managers and help them unlock their potential through branch partnerships. Rick has a wide range of industry knowledge obtained over many years in various management and leadership roles, most recently with Supreme Lending. MEP has also scored a big win in the Southeast by bolstering its presence in South Carolina under the leadership of Area Manager Jimmy Atkins. Jimmy is very well respected in the Southeast mortgage market and has held leadership positions at Gateway, Finance of America, and, most recently, Go Mortgage. Rick Dionne and Jimmy Atkins are top-level players in the mortgage space and will be instrumental in the continued growth of MEP. We are honored to have them on the team,” said John Cabral, Executive Vice President of Sales. To learn more about MEP, visit here.

UMortgage is proud to welcome Patton Gade, the nation’s #1 originator of VA loans, per the 2023 Scotsman Guide rankings, as its National Director of Military Lending. In his role, Gade will lead UMortgage's Division of Military Lending and a team of experienced VA Loan Originators. This team is dedicated to offering the strongest loan products to VA borrowers and education to dispel the common myths surrounding the VA homebuying process. UMortgage is a proud homeownership advocate for our country’s veterans, active service members, and military families. In 2023, nearly 20% of the loans originated by UMortgage LOs were VA loans, well above the national average of 12% per the Congressional Budget Office. Joining an already prestigious team of VA-focused LOs which includes Jay Bunte, Jimmy Hobson, and Tyler Carlston, Gade plans to further increase the service UMortgage offers to our country’s service members. If you want to know why top producers continue to join the UMortgage platform to grow their business and create life-changing opportunities through homeownership, follow this link to connect with some of our standout LOs.

Stronghill Capital, LLC, a fast-growing Austin, TX-based Wholesale and Correspondent lender, is hiring! We’re looking for experienced Account Executives with an existing book of business who are interested in growing in the Non-QM space. Stronghill specializes in investor residential/DSCR loans, offering unique programs specifically for investor clients. For our 5-10 Unit properties and our 2-8 Unit Mixed Use investment loans, we offer a DSCR ratio of 1.00. For 1-4 Unit properties, your investor clients can qualify using rental cash flow only with a DSCR ratio of 0.75. If you’re interested in being a part of a dynamic company with responsive leadership, sharp price execution, and a commitment to being competitive in the Non-QM space, contact Matt Brammer. As we continue to expand, we are open to discussions in all regions across the country.

Citizens has recently launched a nationwide Private Bank to help facilitate growth in wealth management, improve capabilities in the high-net-worth segment and expand in key markets. Citizens Private Bank will provide holistic, high-touch client service to high-net-worth individuals, families, and businesses, including private family foundations, nonprofit, multifamily and commercial real estate, life sciences, private equity, and venture capital firms. In an effort to better serve Private Bank clients, who often have unique mortgage needs, Citizens has enhanced its relationship lending capabilities to better reward customers for their business and are further evolving our already best-in-class products and services. We’re looking for talented mortgage loan officers who want to join a team who is playing offense and growing our capabilities each and every day. If you are looking to help customers achieve the dream of home ownership and want to learn more about Citizens, contact Sean Reilly or visit us here.

Logan Finance continues to set new Non-QM growth records in Q3! “We continue to see tremendous growth as the industry turns to us as the trusted, reliable partner in Non-QM lending," says Don Pace, Logan CEO. "In addition to our high-touch service, we continue to expand our Non-QM product suite to encompass a broader set of niche lending needs." To help support Logan's tremendous growth, Logan has acquired industry veteran Aaron Samples as Chief Revenue Officer and continues actively hiring superstar account executives. Recent Logan family members include Jesus Gomez, Kelly Stovall, Will Clark, Chris Murphree, and Greg McDonell. If you’re a Non-QM Superstar and want to learn more about Logan’s growth, visit and or contact Aaron Samples.