MCT and FICO 10 T, Non-QM, AOT Tools; Conferences in February and Beyond

“My buddy’s wife complains about constantly being sexually harassed at work. He told her she can stop working from home and go back to the office if she doesn’t like it.” “Home” means a lot, especially when it is lost. The nation is watching the loss of life and homes in LA county. Prior to the pandemic many LOs and AEs worked from home, but since then corporate types have kept an eye on the big banks and investment banks for WFH (work from home) versus return to the office clues. JPMorgan has had enough and is now going back to five days in the office. Citi, however, is still on a “three days in the office” schedule. Efficiency is good, but you lose the water cooler synergy and familiarity. People need a place to live, but not necessarily a place to work. In terms of homes, inventory for sale has been an issue for years, and will continue to be in many markets. It’s hard to increase housing units when they’re lost to fires, floods, and wind. A recent STRATMOR blog is “A Lender’s Personal Touch Can Help After a Disaster.” (Today’s podcast can be found here and this week’s is sponsored by CoreLogic. CoreLogic gives mortgage professionals the tools they need to establish long-term relationships with their clients, helping them keep future business in-house and transforming the way they do business. Today’s has an interview with homeowner and landlord Suzy Alvarez on how she chooses lenders, where the borrower experience can be improved, and what she wished she knew before buying her first home.)

Lender and Broker Services, Software, and Products

“Discover the power of partnership with Planet Home Lending Correspondent. Our product lineup spans vanilla to niche products, including best effort, mandatory AOT, delegated, and non-delegated options. Connect with Planet’s correspondent team at MBA's Independent Mortgage Bankers Conference in Austin, Jan. 27-29. Book your meeting today or contact Regional Sales Manager Stuart Blend (469-939-9055) or VP National Renovation Lending Jim Bopp (518-348-6426). Not attending IMB this year? Click here to download our latest Product Highlights and see how Planet can help you succeed in 2025.”

AmeriHome Correspondent is starting off 2025 strong as the largest bank owned correspondent lender in the nation! Join AmeriHome on Wednesday, Jan 22 for its first webinar of 2025 alongside Freddie Mac! Don’t miss “A Conversation on the Economy, with a Focus on the Housing and Mortgage Markets.” Join a discussion hosted by Steve Kolker, AmeriHome’s Managing Director, Correspondent Sales, as he speaks with Leonard Kiefer, Freddie Mac’s Deputy Chief Economist. They will discuss the current state of the economy and the impacts on the Mortgage and Housing Markets, plus a live Q&A session! Click here to register. AmeriHome is also preparing to launch a Non-QM suite of products and will be able to purchase eNotes later in Q1! To find out more, catch the team in person later this month at the 2025 IMB Conference in Austin, Texas or Email to schedule a meeting. Check here to see which conferences they’ll be at in the coming months.

TMC Webinar! “Removing Anxiety from your LOS Decision: An Implementation Case Study.” If you're thinking of making an LOS change, but are worried about the implementation process, this is your opportunity to hear from lenders just like you. Join The Mortgage Collaborative and Byte Software on Thursday, January 16th at 3 pm ET to learn why implementation anxiety shouldn't prevent you from making a change to improve your situation. Register here.

Join ICE for its first Mortgage Monitor webinar of the new year where you’ll gain critical insights into U.S. housing and mortgage market trends. The information presented in this preeminent, widely attended monthly webinar is based on the most current data available from ICE's vast mortgage, housing and property data assets, including the largest servicer-contributed loan-level database in the industry. Learn how borrower demand, housing affordability, interest rates, available equity, and other factors may impact your lending strategies. Register for the upcoming webinar which will be hosted on Thursday, January 30, from 2 – 3 p.m. ET.

Events and Webinars in February and Beyond

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!

2/3-2/5, in San Diego, is the Optimal Blue extravaganza! Don’t miss it.

February 4-7, in Dallas, is the MBA’s Servicing Solutions Conference and Expo.

Meet your peers at MBA's Servicing Solutions Conference & Expo, February 4-7, 2025, in Dallas, TX. to better understand servicers' operational challenges. Gain critical insights on cost containment, quality assurance, business model methodologies, and more. Attend this track to advance your servicing operations and move your business forward.

IMBA’s 104th Annual Reception...2025 Mortgage Lending Conference will be held on Thursday, February 6, 6:00pm - 8:30pm. Network, enjoy great appetizers and drinks at The Capital Grille! IMBA Officers and Directors will be installed, and Annual Sponsor Partners and special award recipients will be recognized.

In Illinois, IMBA’s 104th Annual Reception...2025 Mortgage Lending Conference will be held on Thursday, February 6, 6:00pm - 8:30pm. Network, enjoy great appetizers and drinks at The Capital Grille! IMBA Officers and Directors will be installed, and Annual Sponsor Partners and special award recipients will be recognized.

CoAMP is excited to partner with NAMB to bring their exceptional CVLS course to Denver, Friday, February 7th, 9:00 AM – 5:00 PM MST at Stewart Title 1st Floor Conf Room, 7979 E Tufts Ave. (Registration begins at 8:30). Cost for NAMB Members is $199, attendance for NAMB Military Veteran Members is free. Cost for CoAMP Members is $299, email dmcdonald@townemortgage.com for discount code-$299 level includes a year membership to NAMB); Non-NAMB or CoAMP Members-$399 (includes a NAMB Membership). The certification training will cover VA lending basics in addition to advanced topics to set yourself apart. The certification exam immediately following the course, upon passing you will be presented with your CVLS certification and marketing materials. Visit NAMB’s website for more information.

Get ready to unlock the future of the Secondary Market at TMBA's Southern Secondary Market Conference, the event that promises to kickstart your year with a bang. Join us on February 10-11, at the Omni Houston Hotel where industry leaders will gather to share invaluable insights and the latest trends that are shaping the Secondary Market landscape.

This is not just another conference; it's your opportunity to connect with the best and brightest in mortgage banking.

2/25-2/27, the Connecticut MBA is hosting the Northeast Mortgage Summit. See the likes of Steve Richman, MaryKay Scully, and Robbie Chrisman discussing the current market and sales techniques.

The new Northeast Mortgage Summit from the CMBA will take place February 26-27, at Mohegan Sun, Uncasville, CT. Ready to Level Up Your Mortgage Game? Don’t miss out on this powerhouse event, hear from industry experts like Mary Kay, Steve Richman, Stephen Robert, Kevin Stevens, Robbie and Rob Chrisman; Connect, Learn, and Thrive! Register now and attend for 1/2 price; Use discount code NMS-Friend.

Under the “way in advance” heading, April 1-3, is the Great River MBA in Memphis, TN: www.greatrivermba.com.

Attend MBA’s National Advocacy Conference (NAC) on April 8 and 9, at the Capital Hilton in Washington, D.C. Join hundreds of industry advocates to meet with and educate policymakers on issues impacting your businesses and customers. Register by February 24, to receive the early bird rate. MBA offers special rates for members of MBA’s young professionals’ network (mPact), the Certified Mortgage Banker (CMB) Society, and group rates for MBA member companies as well. Yup, ff you’d like to spend some time advocating for our biz in early April, the MBA’s NAC25 registration is now live!

There’s the National Settlement Services Summit (NS3) from October Research, LLC on June 16-18 in Pittsburgh, PA for the premier event for professionals across the real estate transaction. NS3 offers three days of unmatched networking and invaluable education, where you’ll connect with your industry partners, earn CE & CLE credits, and stay current on regulatory updates and business strategies. This is your chance to secure your seat at the lowest available rate. Don’t miss out on this opportunity to advance your business. Register today! Do you want to speak at NS3? Visit NS3TheSummit.com to submit your proposal.

The 2025 MBA Annual Convention & Expo will begin October 19 in Las Vegas.

Chrisman Commentary is pleased to bring you a variety of video shows hosted on Zoom throughout the week. Take your pick: We have a show focused on technology and innovation (Now Next Later Mondays at 1pm ET), origination (Mortgage Pros Tuesdays at 2pm ET), big-name interviews (Mortgage Matters Wednesdays at 2pm ET, presented by Lenders One), headline news (The Big Picture Thursday’s at 3pm ET), opinion (Last Word Fridays at 1pm ET), advisory services (Advisory Angle first Tuesday of the month at 2pm ET, presented by STRATMOR Group), capital markets (Capital Markets Wrap second Tuesday of the month at 3pm ET, presented by Polly), regulation and compliance (Regulation Central third Tuesday of the month at 3pm ET), and reaching the next generation of homeowners (Mortgages with Millennials last Tuesday of the month at 1pm ET, presented by The Mortgage Collaborative). (If you don’t see a presenting sponsor, please reach out to Chrisman LLC’s Anjelica Nixt to inquire about opportunities.)

Capital Markets

MCT announced that loans utilizing FICO Score 10 T are now actively trading on MCT Marketplace, the industry’s largest mortgage asset exchange. This early milestone in the adoption of 10 T provides buyers and sellers with sharper pricing strategies, improved credit risk management, and deeper insights into secondary market transactions. “We’re actively collecting transaction data and analyzing the impact of 10 T on loan sales and co-issue servicing,” said Paul Yarbrough, Senior Director of Client Success at MCT. “By leveraging this predictive scoring model, our clients can optimize pricing precision and enhance their secondary marketing outcomes.” Read the press release for details on how FICO Score 10 T enhances pricing strategies and insights into credit risk management. Mortgage market participants interested in learning more about the impact of 10 T on pricing strategies and loan sales are encouraged to schedule a consultation with MCT.

The bond markets (and therefore interest rates) have been quiet lately, with small changes in bond prices and little movement in key indexes. However, bond market sell offs are pushing yields toward key thresholds, with the US 10-year Treasury inching toward the 5 percent peak hit in 2023. In the UK, that yield rose to as much as 4.82 percent, the highest since 2008, and in Japan, the 10-year rate on government bonds has pushed over 1 percent to the highest in over a decade. President Trump’s election victory has only stoked the shift higher, with uncertainty over his tariff threats and vows to push tax cuts through Congress as America’s ability to keep rolling over its monstrous debt both being viewed skeptically.

Economic releases on the day showed that the economy added 122k jobs last month, according to the ADP Employment Report. This was below expectations, and is less than expectations for Friday's payrolls report. However, that report was followed by an unexpected drop in weekly Initial Claims to 201k. Friday’s jobs data will be crucial for future rate expectations, with any rise in unemployment potentially signaling more rate cuts and supporting bonds. The Fed appears content with the current unemployment rate, but if the labor market weakens, it could prompt further easing. Speaking of the Fed, the FOMC released the Minutes from its latest policy meeting, reinforcing the belief that the next rate cut will be delayed past the March meeting.

The market for mortgage-backed securities (MBS) saw the 5.5 percent and 5 percent UMBS30 bonds the ones with the most activity. For Ginnie Mae (GNII) bonds, 5.5 percent and 6 percent were the most traded, while for UMBS15s, 5 percent and 5.5 percent were most active. As for pricing, the market for UMBS30 bonds stayed mostly steady, except for the 6 percent and 6.5 percent bonds, which saw a slight price increase. The 10-year U.S. Treasury bond price dropped a bit, while shorter-term bonds (like the 2-year and 5-year) remained unchanged. Equity markets ended the day mostly flat, and the VIX, which measures market volatility, dropped slightly. Corporate credit spreads also widened a bit, signaling slightly higher risk. The market for 15-year UMBS bonds remained steady, while the swap market was slightly more active, with some bonds priced a bit higher.

Today brings a rather unique situation to U.S. markets, with equity markets closed and the bond market closing early in observance of the National Day of Remembrance for former President Jimmy Carter. Data kicked off with job cuts from Challenger Gray & Christmas for December (38,972, down 33 percent from November). Later today brings Freddie Mac’s Primary Mortgage Market Survey, some short duration Treasury auctions, and Fed speak: Fed speakers consist of Philadelphia’s Harker, Boston’s Collins, Richmond’s Barkin, Kansas City’s Schmid, and Governor Bowman. For the early close, futures will settle at 1:00pm ET and SIFMA recommends a 2:00pm ET close for cash bonds. We begin the day with Agency MBS prices improved from Wednesday’s close by a few ticks (32nds), the 10-year yielding 4.66 after closing yesterday at 4.69 percent, and the 2-year is yielding 4.26.