“Being a parent is like being a psychic who is always right but is always ignored.” Here in Austin, TX, whether it was the Texas Women Mortgage Bankers’ Fall Social with Faith Schwartz and Alanna McCargo last night or the TMBA’s Housing Summit speakers today, no one is ignoring anything. No lender can ignore the shutdown, and anyone who believes that residential lending and politics, at all levels, don’t overlap is mistaken: look at what is going on with FHA, VA, GNMA, IRS information, USDA, and flood insurance. A topic at this Summit as well as other conferences is mergers and acquisitions, and in today’s episode of the Advisory Angle, powered by the Chrisman Commentary, STRATMOR Principal David Hrobon and I dig into how the mortgage landscape is being redefined, how big players are using AI, automation, and strategic M&A to reshape the mortgage landscape, and what independent mortgage bankers can do to stay competitive. (Today’s podcast can be found here and Sponsored by ICE. As the standard for innovation, artificial intelligence, efficiency and scalability, ICE is the technology of choice for the majority of industry participants, defining the future of homeownership. Today’s features an interview with Polunsky Beitel Green’s Marty Green on the latest GSE IPO news, mortgage law in Texas, and the current regulatory environment.)
Services, Products, Software, and Tools for Lenders and Brokers
“Ahead of upcoming market shifts, two things can impact a lender's success: speed and trust. From delivering educational content to leveraging real-time borrower data, you can lay the groundwork for building lasting customer relationships by engaging early and staying top of mind. In this new blog from ICE Mortgage Technology, we’re sharing key strategies to help you be a borrower’s first choice when opportunity strikes. Click here to read more.”
Navigating SOC reports can feel overwhelming, but for organizations relying on third-party vendors, especially those managing financial or sensitive data, mastering these reports is essential. In this episode of SOC Simplified, Richey May’s experts break down five must-know tips for reviewing SOC reports, including how to interpret the auditor’s opinion, findings, and the complementary user entity controls. Whether you’re new to SOC or just need a quick refresher, this concise, 4-minute video will empower you to approach SOC reports with confidence: Tune in to our SOC Simplified series today and connect with our experts at info@richeymay.com for personalized guidance.
As 2025 comes to a close, Western Alliance Bank's Specialized Mortgage Services Group once again extends its gratitude to independent mortgage bankers for your trust and partnership, and eagerly awaits the opportunity to join forces on even more fresh strategic initiatives in 2026. Western Alliance Bank’s solutions, ranging from mortgage warehouse lending, MSR financing, note financing and treasury management products and services, including commercial credit cards and cash management tools, are designed to strengthen operations, reduce costs and open paths to growth. But the most powerful results are derived from their customers and team members collaborating to create strategic solutions. The whole is truly greater than the sum of its parts. Western Alliance Bank looks forward to connecting to explore how a trusted partnership can help contribute toward shaping your success in 2026. Western Alliance Bank, Member FDIC.
Why are Servbank and their client’s delinquency rates (measured by both fico and vintage) consistently below the market averages? It’s simple: they tackle risk before it becomes a problem. Servbank’s advanced predictive technology pinpoints potential delinquency early, enabling timely and targeted outreach. But it’s not just about the tech. Its compassionate teams work hand-in-hand with customers to find solutions that work. This powerful blend of innovation and empathy keeps Servbank ahead of the delinquency curve, and ahead of the competition. The result? Homeowners stay on track, communities stay strong, and lenders like you see reduced servicing advances and improved monthly cash flow. Servbank delivers high-performance subservicing by combining smart tech with best-in-class customer care. Stay ahead of delinquency, partner with Servbank: https://servbank.com/subservicin
October rates were the lowest we have seen in over a year, and your past clients may be ready to refinance. Let us give you the tools you need to know when they are ready. OneHomeowner is a homeowner engagement tool, designed to help your past clients manage their home, track their equity, and make smarter financial decisions. When you become a trusted resource for vital information, you'll stay top-of-mind and get a powerful competitive edge. Plus, you'll receive real-time alerts when clients are ready to refinance, giving you the inside track on new business. Give the Gift of Homeownership, Get the Advantage of a Lifetime. Ready to see how you can become an indispensable resource for your clients? Schedule a demo today.
For credit unions competing in today’s purchase market, this is one webinar you won’t want to miss. Telhio Credit Union Loan Officer Allie Hager and Realtor Kelly Hamilton of Realty Forward will join LenderLogix CEO Patrick O’Brien for a live discussion on how credit unions are strengthening realtor relationships and delivering fast, modern borrower experiences. The panel will explore how collaboration, responsiveness, and technology are helping credit unions stay competitive, serve members faster, and win more business in a challenging market. The webinar takes place Tuesday, November 18 at 1 PM ET. Register here.
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 Investor Products
It’s Non-Stop Non-QM Mania at Carrington Mortgage Services! Carrington turned up the heat in Las Vegas last month with successful meetings at NAMB and the MBA. Now the team is taking it directly to brokers with two upcoming webinars in conjunction with NMP (Complete Guide To Non-QM: A Deep Dive On Serving Business Owners) on November 13th and NYAMB (Non-QM in the Big Apple: The Untapped Goldmine) on December 4th. Carrington is also looking for experienced Non-QM account executives across the country. Have a confidential conversation with their VP of Sales, Jeff Massotti, to learn more. Reach out to experience why giving Carrington the First Look for Non-QM makes all the difference!
“Rebrand announcement: AFR is now eLEND! We’re excited to announce that AFR has officially rebranded under one unified identity: eLEND: reflecting our modern, tech-forward approach to mortgage lending and our recommitment to brokers, correspondent lenders, and their clients. Since our acquisition in February 2024, we’ve been moving full speed to enhance the mortgage experience by streamlining processes, expanding product offerings, and delivering innovative digital tools to make lending faster, smarter, and simpler. What’s new: AFR Wholesale is now eLEND TPO, built specifically for brokers and correspondent lenders to provide the programs, tools, and support needed to succeed in today’s market. What’s staying the same: Our trusted leadership, service-first values, competitive programs, and dedicated support remain unchanged. This rebrand is more than a new name, it’s a bold step forward designed for the future of mortgage lending. Visit elendtpo.com, 1-800-375-6071 or sales@elend.com. (NMLS 2826) Not yet a client – join the journey.”
The VA IRRRL: Your Fastest Path to More Closings! What brokers need to know about Interest Rate Reduction Refinance Loans: IRRRLs are the VA's streamlined refinance, designed for speed and simplicity. Your veteran clients can lower their rate or switch from adjustable to fixed with minimal documentation. Two qualifying paths: Non-credit qualifying: No credit pull, no income verification. Credit qualifying: Opens cash-out options and flexibility. Program highlights:
580 minimum FICO (680 for investment properties), 100 percent LTV/CLTV, $50K to $2M loan amounts, 15, 20, 25, or 30-year fixed terms, and manufactured homes eligible (1-unit primary only). The advantage? Faster processing, fewer obstacles, happy veteran borrowers who'll refer you to their network. Kind's VA team makes IRRRLs effortless. Let's help your veterans save money and increase your loan closings.
Angel Oak Mortgage Solutions LLC, a nonbank wholesale and correspondent non-qualified mortgage (non-QM) lender, today announced a groundbreaking enhancement to its debt service coverage ratio (DSCR) loan program: the launch of a rental automated valuation model (AVM). “This new technological enhancement incorporating Clear Capital’s Rental AVM marks an industry first, instantly estimating data-backed rental income for rental property calculations held through closing, delivering unprecedented certainty and speed to brokers and borrowers alike.”
Union Home Mortgage (UHM) is expanding its access to a range of mortgage products designed to meet diverse investment needs through the launch of UHM Platinum. By cultivating strategic relationships, both new and ongoing, the lender aims to drive growth in its non-QM segment. “In addition to qualified mortgage (QM) options such as jumbo and non-owner-occupied loans, investors can immediately take advantage of bank statement and DSCR products through the UHM platform. These offerings provide greater flexibility and open new avenues for portfolio growth.”
United Wholesale Mortgage (UWM) introduced three new tools to “transform the loan process and expand marketing capabilities for brokers across the industry.” The tools include Brand 360 Canva Enhancement (UWM has partnered with Canva to offer mortgage brokers premium access to a powerful marketing platform at no cost), Loan Lab (a unique solution that puts even more control in the brokers’ hands, enabling them to experiment with loan adjustments and changes in a controlled environment), and Income Calculator (powered by advanced AI, this tool extracts and analyzes income data with the same precision an underwriter would deliver, eliminating manual math, missed details and second guessing.)
Newrez plans to sustain its growth by focusing on closed-end second mortgages and leveraging broker expertise to fill market gaps.
Citi Correspondent Lending Bulletin 2025-10 contents include credit policy updates, new Manual Section 918: Government Shutdown, clarifications on Refinances other purposes, and reminders on Loan Product Advisor (LPA) rent payment history and Mortgage Insurance disclosure reminder.
Newfi Wholesale announced the newest enhancement to its BLU Broker Portal, Income IQ! A first-of-its-kind Bank Statement Analysis tool, designed to reinvent the way brokers and loan officers review self-employed borrower income. Integrated directly within the Newfi Wholesale BLU Broker Portal, Income IQ automates the bank statement calculation process, delivering a faster, more secure detailed income analysis in no time.
Qualify more Self-Employed Borrower and Small Business Owners with Newfi Wholesale’s CPA Gross Receipts Program. How it works; obtain a letter from their CPA / Licensed Tax Preparer that includes: Total Annual Sales filed on the most recent tax return, Percentage of ownership in the business, Attestation that they have prepared and filed borrower’s taxes, Standard 50% Expense Factor or as low as 10% Based on CPA Expense Statement, Requires 2 or 6 months Bank Statements to Verify Income, Minimum 50% Ownership of Business Required, Tax Returns not required, Up to 80% LTV. Can be combined with other income sources like W-2 income or IRA funds (no distribution required).
As the federal government shutdown impacts USDA loan processing, Click n’ Close has launched a two-part initiative to help its partners manage their pipelines: Free lock extensions on all USDA loans currently in its wholesale pipeline and Acceptance of new USDA locks, which will also qualify for free extensions through Dec. 31, 2025. This proactive step underscores Click n’ Close’s deep USDA expertise and ongoing commitment to helping lenders and borrowers maintain loan momentum, even amid temporary disruptions.
LOs and Regulatory Readiness
Over the weekend I received an “MLO VieauxPoint” from Brian Vieaux, President, MISMO. “Rob, I think that originators should think about how regulatory readiness through data clarity is impacted by how the MCD ‘tech sprint’ is redefining collaboration. Building regulatory readiness isn’t something you hope for, it’s something you shape. That’s exactly what’s happening through the Mortgage Compliance Dataset (MCD) Tech Sprint, a joint initiative from the Conference of State Bank Supervisors (CSBS) and MISMO launching December 3.
“This is a working collaboration between regulators, lenders, and technology providers to define what compliance efficiency should look like across the independent mortgage banking ecosystem.
“For decades, every state exam meant reformatting and remapping data, manual work that drained time and created friction. The MCD aims to fix that by establishing a common data language for compliance, aligning the way lenders and regulators define, submit, and review information, leading to less manual prep, smarter oversight, and shared certainty across the board.
“This Tech Sprint marks a turning point: industry and regulators co-creating, not negotiating, solutions. It’s a living example of MISMO’s mission to connect the housing ecosystem through standards, interoperability, and trust. The initiative runs through early 2026 and will tackle adoption challenges head-on, from integration to data mapping. Participants will help shape a dataset that reflects the real work of compliance professionals while strengthening operational resilience and market credibility. For independent mortgage banks, this is a chance to move from reacting to regulation to designing the future of it.
“Read the full article here. And readers should know about some upcoming MISMO dates and events: Get To Know MISMO Webinar - Nov 4th, 5 Key MISMO Initiatives Webinar - Nov 13th, and MISMO Winter Summit January 2026. Want to learn more about the Tech Sprint and/or MISMO in general? Shoot me a email, I’d love to jump on call.” #VieauxPoint
Capital Markets
I’m sure there are plenty of you that have been asked why mortgage rates haven’t dropped after the Fed rate cut last week. In fact, bond yields have actually risen over the last several days. So, why are yields rising? As Prime Lending’s Andrew Stringer says, “Let’s identify the supply. Big companies are borrowing money. Tech giants are seeking ways to fund their AI infrastructure. To shore up funding, they often sell Treasuries to buy corporate bonds. More supply equals more selling pressure. There are no buyers in sight, and with investors flying blind due to the data disconnect from the shutdown, confidence is low. Buyers are hesitant to step in amid the momentum shift toward selling. It feels a bit like trying to catch a falling knife. Fewer buyers equals more sellers. Even with the delay in economic reports, the broader market still believes the economy is holding steady. Jobs may be cooling but spending and growth remain solid. This gives the market pause, as the Fed may opt to skip a December rate cut. That means more pressure on bonds…Perhaps our biggest takeaway from the markets is this: cranky traders make bad rate sheet prices.” Thank you, Andrew.
We learned yesterday that the contraction in manufacturing activity grew more widespread in October as the ISM manufacturing index sank to 48.7, extending the factory slump into its eighth consecutive month. Meanwhile, consumer sentiment has declined for three consecutive months as concerns about future income and job prospects rise. Pending home sales were flat in October as affordability issues and broader economic uncertainty keep would-be buyers on the sidelines. Retail demand strengthened in Q3, driven largely by ecommerce but also improving brick-and-mortar sales, supporting forecasts for a rise in holiday spending and continued consumer-driven growth in the retail market.
Due to the government shutdown, the September trade deficit, factory orders and JOLTS job openings will not be released today, which leaves Redbook same store sales as the only data point. The lone Fed speaker is vice chair for supervision Bowman. Outside of the Fed, the Royal Bank of Australia will also be out with its latest monetary policy decision and is expected to hold the cash target rate steady at 3.60 percent. We begin the day with Agency MBS prices little changed from Monday’s close, the 2-year yielding 3.58, and the 10-year yielding 4.09, after closing Monday at 4.11 percent.
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