HELOC, AI/Compliance, eNote Products; Skiing and AI Events/Training; Capital Markets
In what seems to be the blink of an eye we’re down two months of 2026, and by most accounts they were decent for lenders and vendors. Here in Ft. Lauderdale at the Lenders One Summit, the talk in the hallways, like that at several recent conferences, is centered around a handful of topics, M&A being one of them, and the desire for companies to control the “funnel.” STRATMOR’s Garth Graham, who resides nearby, last night told me that STRATMOR has a full complement of buyers and sellers and we discussed the Rocket/Compass deal and its relation to the Rocket/Redfin deal. Will the 80-basis point “spiff” motivate brokers to move business away from other leader wholesalers? The United States and Israel attacking Iran is certainly a topic, and along those lines the “disappearance” of the traditional “flight to quality” when something like this happens. Types of production are also a favorite topic at conferences, and I received this note. “Rob, my team and I have only done a handful of ‘mainstream’ loans in the last several months. We’re doing more private money loans than ever before, more non-Agency, and deals that take several months. Are you hearing this from others? Absolutely. (Today’s podcast can be found here and this week’s ‘casts are sponsored by Feewise, which turns mortgage compliance from bottleneck to business accelerator. Handle all the complexities involved with establishing TRID compliant fees and disclosures, achieve sign off, and deliver packages to your consumers for review or signature. Hear an interview with FirstClose’s Andria Lightfoot on modernizing processes with low-lift digital entry points to eliminate bottlenecks, boost borrower satisfaction, and stay competitive in the evolving home equity market.)
Products, Services, and Software for Brokers and Lenders
The digital mortgage revolution is gaining serious speed. Over 500 entities are now connected to the digital infrastructure, creating an interoperable ecosystem built for scale. Plus, with eNote adoption jumping to an all-time high of 15.2 percent in January 2026 and over 2.9 million eNotes now registered on the MERS eRegistry, the industry is moving from experimentation to execution. Game-changing policy shifts like Ginnie Mae's Digital PIIT eligibility are eliminating operational bottlenecks, while rising investor confidence is fueling broader adoption. Lenders are experiencing real results: Veterans United reports conservative savings of 5 basis points per loan, driving their goal of 50 percent eNote production this year. With faster collateral delivery, reduced warehouse dwell times, and lower operational costs, eNotes are rapidly shifting from an optional innovation to a competitive necessity. Ready to learn how digital mortgages can transform your operations? Read the full blog to explore the data, policy changes and strategic insights shaping the industry in 2026.
The Tacoma Narrows Bridge, nicknamed “Galloping Gertie” for the way it bucked in high winds, twisted itself apart in 1940. Mortgage lending faces its own crosswinds: a shifting regulatory landscape, capital and liquidity pressures, evolving GSE and housing policy debates, and renewed scrutiny around AI and compliance oversight. In a market defined by constant change, compliance is the structural reinforcement that prevents stress from becoming failure. That’s where DocMagic comes in: While lenders focus on originating and closing loans, DocMagic helps them mitigate risk through compliance-driven solutions that evolve alongside regulatory demands. With DocMagic reinforcing your framework, your operation stays steady and prepared for whatever blows through the market next. Learn more.
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.
40 percent of U.S. homeowners own their homes outright and millions more carry small mortgage balances. They’re equity-rich & rate-locked. But they still need cash for renovations, liquidity, or to consolidate high-interest debt. Historically, these smaller-balance loans were expensive to originate and hard to monetize. Not anymore. Figure’s First Lien HELOC lets you tap this “free and clear” market with a faster, lower-cost alternative to cash-out refis, funding in as few as five days, with 0.5–2.0 percent lower rates than junior liens for loans under $150K. And now, borrowers can choose between fixed-rate stability or new variable-rate flexibility in one seamless, white-labeled digital experience. Better pricing for borrowers. Stronger economics for partners. If you’re interested, connect with Anthony Stratis, VP Lending Partnerships.
Quorum Federal Credit Union provides a full suite or mortgage and home equity solutions designed to help brokers close more loans across a wide range of borrower scenarios. Highlights include up to 4 percent Borrower-Paid Compensation for approved partners. AVMs allowed up to $400K loan amount. No initial draw required. 10-year draw period. Bank statement income allowed on first and second liens. Up to 95 percent CLTV, loan amounts up to $750K (Bridge Loan HELOC up to $1MM), and FICO scores as low as 640. Programs available for owner-occupied, second homes, and investment properties. Product offerings include First and Second Lien HELOC, ARV Renovation HELOC, Land Loans, and COMING SOON: New Construction First Lien HELOC.
“True HELOCs in a delegated correspondent solution! If you work with one of the nation’s largest IMBs, you likely have new access to a True HELOC that empowers you to keep full control of your brand and the customer experience. Piggybacks and Stand-Alones, HCLTVs up to 89.99 percent, FICOs as low as 660, income requirements that align to Agency guidelines, 10-year draw periods, loan amounts to $750,000, all available in 48 states! Offer your customers rates and terms that compete with location financial institutions. You keep 100 percent of your origination fees AND earn correspondent premiums. Sound too good to be true? That’s because it’s the only win-win-win HELOC in the market, powered by Rhyze Solutions. Ask your product managers or email us directly to learn more.”
Commercial lending is rapidly becoming one of the most predictable income streams in real estate, driven by a surge in maturing CRE debt and a tightening banking environment that is pushing borrowers toward alternative financing. Oceanview Commercial Lending has built a system that makes this opportunity accessible by providing brokers with consistent monthly leads, a marketplace of more than 6,000 lenders, and a straightforward daily workflow. With 75 leads a month, a 5–10 percent close rate, and commissions ranging from $2,500 to $25,000 per deal, brokers can generate annual incomes from roughly $225,000 to more than $1 million, depending on consistency and deal size. As $1.5 to $2.7 trillion in commercial loans come due over the next several years, demand for knowledgeable brokers is accelerating, creating a rare window for residential agents, loan officers, and new entrants to expand their business. Those interested can register for the free weekly seminar every Wednesday at 1 PM EST or schedule a one‑on‑one strategy session to explore whether the program is a fit.
From Skiing, to AI, to Economics
March 1-4, in Ft. Lauderdale, we have the Lenders One Summit.
Now Next Later is today at 1PM ET. Eric Lapin and Mike Manning join Jeremy Potter and Sasha Stair to explore whether blockchain can finally solve mortgage data fragmentation. The conversation focuses on data integrity, end to end visibility, and what it would take for adoption to meaningfully reshape the lending lifecycle.
Advisory Angle is tomorrow at 2PM ET. This week on Advisory Angle, Sue Woodard, Mike Seminari, and Christy Soukhamneut examine why servicing recapture efforts often fall short despite heavy investment in AI and analytics. The discussion highlights how borrower connection, early servicing experiences, and trust ultimately determine long term retention outcomes.
At the end of this week the Hurt No Mor Ski Trip returns March 4–8 in Park City, Utah, to the Hotel Thaynes for four days of skiing, networking, storytelling, and the kind of off-the-record conversations that only happen on a chairlift or by a fire pit. “This year marks our 40th anniversary, and with over 100 industry friends already registered, it’s shaping up to be one for the history books. Even better, Park City has received three feet of fresh snow, so conditions are lining up perfectly. This annual gathering has become a mortgage-industry tradition: equal parts reunion, think tank, and mountain therapy. We still have a limited number of rooms available, so if you’ve been meaning to join, now’s the time.”
Timing the Market, Scaling Without People, and Winning the Next Refi Cycle! Live Webinar (Zoom), March 5, 10:00 AM PT / 1:00 PM ET. Refis won’t ramp… they’ll snap. Join Rob Chrisman and Josh Friend for a candid readiness briefing on how to spot the early signals, pre-position operations, and scale with AI instead of headcount, so you’re ready before the market turns.
Join Keith Warwick on March 06, at 1:00 PM EST for a live webinar to hear about Low-Income Housing Tax Credit (LIHTC) Program fundamentals. Discussion will include funding, implementation, and compliance with the program.
Last Word is March 6 at 1:00 PM ET - Brian Vieaux, Kevin Peranio, Coby Hakalir, and Christy Soukhamneut sit down each week to make sense of what’s really happening in the mortgage world. They bring their own experiences, opinions, and even a little debate to the biggest stories, from market shifts and new rules to the technology and ideas changing how we work. It’s an honest, engaging conversation among industry peers, designed to give you clarity and perspective in a business that never stands still.
It’s time to get ready for the spring buying season in Michigan. Make your plans now to attend MMLA’s Annual Sales Rally, March 11, 8:30 AM - 3:30 PM, and pick up fresh strategies to achieve your sales goals in 2026. Hear from an amazing line up of speakers who will deliver winning ideas that help you not only meet your goals but exceed them. Don’t just hear about the highlights later, be there to experience the energy, the insights, and the momentum that will carry you through the season.
In Illinois we have the IMBA Spring Mortgage Lending Conference on Wednesday, March 11, 10am - 4:30pm. Confirmed speaker, Joel Kan, Deputy Chief Economist Mortgage Bankers Association, will discuss economic/mortgage market update. Also, concurrent interactive breakout sessions for Sales and Ops will be offered.
Capital Markets
Oil prices are up 7 percent this morning, gold has skyrocketed, stock prices are down, and bond prices & rates are… doing little. A little higher… what flight to quality? Wall Street will start this week focused on geopolitics after the U.S. and Israel carried out attacks against Iran that killed supreme leader Khamenei and other senior leaders. The U.S. and Israel have called for regime change. The oil market (USO) (BNO) will see the biggest direct impact; the traders braced for volatility due to the uncertain future of an OPEC member which has a chance to spill over into the stock and bond markets.
Mortgage credit has quietly become more available over the past three years, but almost exclusively for stronger, higher-income borrowers. While overall availability remains tighter than pre-pandemic levels, jumbo and conventional lending have expanded meaningfully, even as access for lower-credit borrowers in the Ginnie Mae channel has contracted, reinforcing a widening divide between financially secure households and those on the margins. At the same time, issuance has structurally shifted toward Ginnie Mae, now accounting for over 40 percent of Agency production as affordability pressures push more borrowers into government-backed loans, fundamentally reshaping the mortgage market’s composition. The result is a two-speed housing finance system: credit is prudently restrained overall, but increasingly concentrated among the “haves,” while the growth that does exist is flowing through government channels serving more rate-sensitive, credit-constrained borrowers.
While overall prepayment speeds remain subdued in 30-year pools, 15-year securities (particularly Ginnie Mae) have consistently prepaid faster, offering both lower duration risk and quicker cash flow. That advantage appears structural rather than driven by buyouts, reflecting the stronger credit profile and inherent characteristics of the Ginnie Mae 15-year borrower base, though supply can be limited. In an environment where rates could just as easily back up as rally, shorter amortization paper offers a practical balance of liquidity, credit quality, and rate protection.
Last week closed with a stronger than expected Producer Price Index release, which (along with geopolitical tensions in the Middle East) caused Treasuries to rally to fresh lows in yield for the year. Construction spending dipped 0.2 percent in November before rebounding 0.3 percent in December, leaving total outlays just 0.4 percent below year-ago levels and marking a clear improvement from the steeper declines seen earlier in 2025. Residential spending strengthened broadly at year-end, with gains in single-family, multifamily, and home improvement consistent with stabilization in permits and building materials sales. The market’s focus has clearly shifted since the height of deficit and demand fears during the trade war last year, with investors now leaning into shorter-duration assets that return principal more quickly without sacrificing much yield.
This week’s calendar will be highlighted by the February payrolls report on Friday, with the rest of the week bringing updates on PMIs, ADP employment, jobs cuts, trade, consumer credit, (previously delayed) import prices, productivity and unit labor costs, retail sales, and business inventories. The Fed’s Beige Book will be released Wednesday afternoon ahead of the March 17-18 FOMC meeting. For MBS, Agency prepayment speeds will be released after Thursday’s close and into the evening, and Classes A and B 48-hour notifications are on Tuesday and Friday, respectively. Today’s economic calendar kicks off later this morning with the final February read on S&P Global manufacturing PMI and will be followed by the ISM equivalent and some short-duration Treasury auctions. We begin the day with Agency MBS prices .125-.250 worse than Friday’s close, the 2-year yielding 3.44, and the 10-year yielding 4.00 after closing last week at 3.96 percent, down 13-basis points last week and down 28-basis points in February.