Frequent conference goers or traveling salespeople are obviously concerned about the Trump Administration cutting 10 percent of flights for a variety of reasons. 13,000 air traffic controllers and 50,000 Transportation Security Administration agents are working without pay. For anyone looking for a job through the Job Board, here’s a pro tip for a question in your next interview: “Where do you see yourself in five years?” Answer: “Celebrating the 5th anniversary in your lunchroom of you asking me that question.” Job news, good and bad, is in the forefront of economic and residential news. The Trump Administration has apparently fired a mortgage regulator watchdog and Fannie Mae’s ethics staff. Is AI leading to layoffs or does the U.S. economy just stink? (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 Servbank’s Sharmyn Calhoun on the importance of technology in modern compliance management.)

Services, Products, Software, and Tools for Lenders and Brokers

Some things don’t just stand the test of time; they keep getting better with it. FirstClose, celebrating its 25th anniversary this month, has spent a quarter century proving that innovation and endurance can go hand in hand. What started as a single-source provider of property data has evolved into a comprehensive end-to-end platform, supporting over 225 lenders and $129 billion in funded loans since 2015. In an industry where technology changes faster than rates, few companies can claim that kind of consistency or impact. As FirstClose marks 25 years, its mission remains as relevant as ever: helping lenders simplify processes, strengthen borrower experience, and turn opportunity into growth. Connect with the FirstClose team to see how 25 years of innovation can help your lending operation thrive today…and for the next 25.

You won’t like this: ~70% of your refi recapture opportunities are scooped up by other lenders or servicers. Why? Nurture tools weren’t designed to sell. Loan Officer Autopilot was. Every day it performs the database sales work that would take an LO 167 hours to complete. From personalized quotes, tailored emails, and conversion follow-through to a dashboard that indicates every single opportunity with volume potential for every borrower in your database. Zero clicks. Just refis on a silver platter. That's how you protect the relationships you've earned and recapture the loans you should be closing. Battle tested. Proven effective. Demo?

Federal Housing Administration (FHA) loans are often used to gauge overall mortgage market conditions, and data from ICE shows their default rates have been slowly trending upwards over the past two years. For portfolio managers and servicers, proactively monitoring conditions like these is paramount to managing potential risks. By combining its technology solutions and rich data sets, ICE helps servicers identify and engage with at-risk borrowers early, streamlining loss mitigation workflows and leveraging API integrations that automate GSE decisioning and settlement. Find out how ICE can help servicers stay ahead in a shifting market from Andy Walden, Head of Mortgage and Housing Market Research at ICE.

In case you missed Floify’s Dynamic AI demo at MBA Annual, or the nostalgic ’90s memorabilia at its booth (PEZ? Yes, please!), here’s what the buzz was all about. Floify’s Dynamic AI transforms efficiency for borrowers and lenders through intelligent automation of document collection, data extraction, and workflows, accelerating and simplifying the entire loan process. Borrowers can upload key documents, such as pay stubs and W-2s, while Floify’s embedded intelligence extracts, validates and prepopulates verified data automatically. The result is a smoother, hassle-free experience that reduces manual input and accelerates pre-approvals. And because Dynamic AI is built directly into Floify’s trusted point-of-sale (POS) platform, it offers lenders seamless connectivity to LOSs, CRMs, pricing engines, underwriting systems and verification services. Lenders, don't miss this opportunity to “Stop, collaborate and automate.”

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.

Navigating Uncertainty in the Job Market

The U.S. economy is driven by jobs and housing. Per ADP this week, employment at U.S. companies increased by 42k in October after two straight months of declines. There’s a lot of reliance, now, upon state, regional, and private sources for economic data, jobs included. This morning, we learned that Challenger Gray & Christmas tallied job cuts last month at 153k, a notably weak number.

Maybe jobs are shifting from larger companies because the big company news stinks. This week IBM announced that it will lay off thousands of employees, American Airlines announced it would be cutting, as did Frito Lay. Amazon announced that it would cut 14,000 corporate employees, while Facebook parent Meta said its AI unit would get rid of 600 workers, and UPS is cutting back.

CNBC reported, “Layoffs have been announced at companies across the tech, retail, auto and shipping industries in recent months, with executives citing myriad reasons, from artificial intelligence and tariffs to shifting business priorities and broader cost-cutting efforts. Meta, Google, Intel and others have also sought to reduce management layers or organizational bloat in hopes of boosting efficiency.” JELD-WEN, the Charlotte-based door and window manufacturer, will lay off 850 employees across its North American operations. USC is laying off 900. Target Stores has announced layoffs.

Elliot F. Eisenberg, Ph.D., observed, “The recent large layoffs by Amazon, Target, UPS, and others aren’t necessarily alarming. Perspective is critical. The US labor force numbers almost 171 million. Total job separations exceed five million/month, including a million/month who get fired, and slightly over three million/month who quit. Others include retirees, the furloughed, the RIFed etc. To know labor market health, we minimally need data on hires, wages, hours worked, and that’s all unavailable.”

Capital Markets

Set your course for MCT Exchange 2026, MCT’s client conference taking place February 12-13 at the new waterfront venue, InterContinental San Diego. As the Currents of Capital reshape the secondary mortgage market, this premier client conference will help attendees harness the changing flow of opportunity. Immerse in expert market analysis, innovative technology announcements, and collaborative roundtables with industry peers. Attendees can also explore learning tracks tailored to today’s evolving landscape, and connect with lenders, investors, and partners from across the country. From insightful sessions to vibrant networking events, MCT Exchange 2026 is where the future of mortgage capital markets converges. Contact MCT to learn more about attending or sponsoring this landmark event.

Yields rose to their highest levels since early October following stronger-than-expected economic data yesterday, including growth in the ADP Employment Change report (+42k in October) and expansion in both the S&P Global and ISM Services indices; none of those data points support a Fed rate cut in December. Additionally, the Treasury signaled it may increase future note and bond auction sizes, though no immediate adjustments were announced in the quarterly refunding statement.

Today has quite a full calendar, though it will be without jobless claims, preliminary Q3 productivity/unit labor costs, and wholesale trade for September, due to the government shutdown. Prior to the U.S. open, the Norges Bank and BoE both kept their benchmark rates unchanged at 4.0 percent. Kicking off the calendar was Challenger Gray & Christmas job cuts (153k, a notably weak number). Later today brings remarks from no fewer than five Fed speakers and Freddie Mac’s Primary Mortgage Market Survey. We begin the day with Agency MBS prices slightly better than Wednesday’s close, the 2-year yielding 3.59, and the 10-year yielding 4.12 after closing yesterday at 4.16 percent.