Webinars, LOS, Title, eNote, Processing Tools; NAR, Owner Wealth, and Dropped Coverage
Non-QM investors are “licking their chops” by using the information that the FHFA, through Freddie and Fannie, is requiring a more thorough lender assessment before approving condo loans beginning today. Non-QM is not. Who is going to say that information isn’t important? Lenders and the markets like knowing what the U.S. Federal Reserve is up to… Now Federal Reserve Chairman Kevin Warsh is considering reducing the frequency of the central bank's scheduled policy meetings, the New York Times reported Friday. How much would you pay for news in advance? $100k per month? Would you ever buy something from someone selling something that had this access? Trump Media and Technology Group officially rolled out its new subscription-based data service on Saturday, giving paying customers, which may include MBS traders, faster, real-time access to Truth Social posts from Trump and other high-profile accounts. Called Truth API, the application programming interface is intended to provide businesses with “a direct, licensed, real-time feed of the platform’s most market-moving Truths”, interim CEO Kevin McGurn said in a release announcing the launch. Trading firms and other paying subscribers can now access the posts earlier than other users, for a fee of up to $100,000 per month. (Today’s podcast can be found here. This week’s ‘casts are sponsored by Figure. Figure is shaking up the lending world with their five-day HELOC, offering borrower approvals in as little as five minutes and funding in five days. Figure has hundreds of partners in the Banking, Credit Union, Home Improvement, and of course, IMB space embedding their technology. Today’s has an interview with Aon’s John Dickson on the evolution of disaster modeling and how it is impacting the mortgage industry from origination through the capital markets.)
Lender and Broker Software, Products, and Services
Think of AI agents like new employees. They arrive with impressive skills, a wealth of knowledge and real potential to transform how work gets done, but organizations don’t hand new hires the keys on day one. To select which AI capabilities to deploy, mortgage servicers need to trust that the AI will work the way it promises. There are currently three levels of AI maturity: informational, conversational/guided, and autonomous. From answering basic borrower questions to guiding multi-step processes to autonomous task completion, servicers can expand their use of AI gradually as confidence grows. Trust takes time, patience, and consistency to build, which is why ICE is taking a thoughtful approach to AI. Development starts with a guiding principle: that it is governable, auditable and explainable. Read the blog to learn why it’s time to start building the trust foundation for AI in servicing.
“Heading to the Western Secondary, August 10–12? We'd love to connect! Stop by the Lakeview meeting space, Abalone Cove 2, to chat about your lending goals, and learn how our wide array of portfolio products can support and grow your business. While you're there, be sure to ask about our new Medical Professionals (MedPro) product and our 90 percent Investor options! Contact your sales coverage to schedule an appointment, we are looking forward to seeing you soon!”
Auctioneers can rattle off more than 400 words a minute. But no matter how fast they talk, the only number that matters is what the winning bidder is willing to pay. For years, the business case for eNotes has been made by lenders. At MBA Secondary this spring, loan purchasers made their own case. They identified faster settlement, cleaner collateral, and greater execution certainty as benefits valuable enough that some are even paying premiums for eNotes. If you're curious where this trend is headed, look for the DocMagic team at CMBA Western Secondary and let's keep the conversation going. Book a meeting here.
Automating individual tasks isn't the same as transforming mortgage operations. Real efficiency comes from connecting people, policies, systems, and decisions across the entire loan lifecycle. JazzX AI creates a governed intelligence layer that orchestrates work from application through post-close, without replacing your LOS. See how leading lenders are reducing cost per loan and increasing throughput. Book a demo with our team to see JazzX in action.
“Construction lending brings unique complexity. Priority Title & Escrow (PTE) has the experience and dedicated team to manage it from ground-breaking through permanent financing. We support both one-time and two-time close construction loans, giving lenders flexibility regardless of how their programs are structured. For two-time close transactions, we conduct the full title search upfront, then efficiently update the existing search when the loan converts to permanent financing… rather than starting over. That approach can streamline the process, reduce unnecessary costs, and help keep borrowers on track. PTE also manages the construction disbursement process, including residential and commercial construction escrows, so lenders don't have to coordinate draws and paperwork throughout the project. With national coverage and dedicated construction expertise, PTE gives lenders a partner built to manage the complexities of construction lending. Let's talk about how we can support your construction lending program: Sales@PriorityTitle.com.”
Still picturing Dark Matter's Empower LOS demo you saw three years ago? That memory is costing you. The platform evolved. AI is now embedded in the loan flow itself. Aiva isn't a bolted-on extra screen. It reads documents, validates against your business rules, and routes exceptions to a human. It works stage by stage, from application through closing. This isn't a startup's untested pitch. Aiva has processed 500+ million documents across 1,100 document types. Accuracy runs at 99 percent, backed by a 99.5 percent SLA. It's proven in production, at scale, in a regulated industry where mistakes land on borrowers. Results follow. AMOCO FCU is closing loans 10 days faster. Lake Michigan Credit Union cut cycle time by five days and $15K a month in fee cures. Retail, wholesale, correspondent, consumer-direct, and home equity now run on one platform, one data set, open APIs. Thirty years of production experience, married to real AI. Worth another look.
Truework, a Checkr Company, is the unified income, employment, and asset verification platform built for mortgage lenders, replacing slow, manual processes with fast and automated reports pulled directly from payroll providers and other authoritative data sources. Lenders see up to 50 percent cost savings on verifications, with faster turn times and higher accuracy. Trusted by 4 of the top 5 lenders in the US, Truework delivers verification results your team can rely on. Learn more.
The Chrisman Marketplace is a centralized hub for vendors and service providers across the 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.
Sponsored Webcasts
“Onity Mortgage Presents is a complimentary webinar series designed to support Correspondent Sellers. Led by Onity Mortgage’s Corresponding Lending experts, each session provides practical insights, product training, and guidance on the tools and resources available to help you grow your business. Topics include the BE Pricer tool, Deal Desk navigation, Bank Statement IQ, and in-depth overviews of our FlexIQ Non-QM products, including Full Doc, Alt Doc, and DSCR. On Thursday, August 6, Onity will be presenting a joint webinar with LoanNEX. Register today to learn more about how you can price loans with more confidence and less friction by partnering with LoanNEX. Interested in a customized training session for your organization or need assistance with scheduling or joining any of our webinars? Contact CorrespondentTraining@onitymortgage.com.”
Lenders are still buzzing about the recent webinar, Originating in the Age of the Next-Gen Homebuyer, and it’s now available to watch on demand. Featuring Patrick O’Brien, CEO of LenderLogix, and Kristin Messerli, Executive Director & Co-Founder of FirstHomeIQ, the conversation explores how Gen Z and Millennial buyers are researching earlier, using tools like AI to make sense of the mortgage process, and navigating more information than ever before. They also discuss why trust is harder to earn, how misinformation creates hesitation, and how lenders can use technology, education, and empathy to reduce borrower overwhelm while keeping the human advisor at the center. Watch the on-demand webinar here.
Now Next Later is today at 10AM PT. Next on Now Next Later, Jeremy Potter, Eric Lapin and guest Shawnna Hoffman examine the technologies poised to redefine financial services over the next five years. From the first practical applications of quantum computing and the urgency of post quantum encryption to the rise of AI powered fraud and the rapid adoption of real time payments, the conversation explores what organizations should be preparing for today to remain secure, competitive, and ready for what's next.
Fires, Tornadoes, Floods, Hurricanes, Drought…
There are many who believe that FEMA needs to dump the flood program and build a national disaster fund that all real estate and lending industry funds. Is NAR beginning to think the same? Here’s an article worth a skim, at minimum: “Climate Risk Threatens $11.2 Trillion in Housing Wealth, but Rising Costs Are Forcing Homeowners to Drop Coverage.”
Recent FEMA Disaster Announcements: DR-4927-LA, DR-4922-MS, DR-4923-WI, and DR-4925-MI.
On June 30, 2026, with DR-4927, FEMA declared that federal disaster aid with individual assistance has been made available to parishes in Louisiana to supplement recovery efforts in the areas affected by Tropical Storm Arthur from June 17, 2026, to June 18, 2026. See AmeriHome Mortgage’s 20260701-CL Disaster Announcement for inspection requirements.
On June 30, 2026, with DR-4922, FEMA declared that federal disaster aid with individual assistance has been made available to counties in Mississippi to supplement recovery efforts in the areas affected by severe storms, straight-line winds, tornadoes, and flooding from May 6, 2026, to May 7, 2026. See AmeriHome Mortgage’s 20260703-CL Disaster Announcement for inspection requirements.
On June 30, 2026, with DR-4923, FEMA declared that federal disaster aid with individual assistance has been made available to counties in Wisconsin to supplement recovery efforts in the areas affected by severe storms, tornadoes, and flooding from April 13, 2026, to April 23, 2026. See AmeriHome Mortgage’s 20260702-CL Disaster Announcement for inspection requirements.
On June 30, 2026, with DR-4925, FEMA declared that federal disaster aid with individual assistance has been made available to counties in Michigan to supplement recovery efforts in the areas affected by severe storms, tornadoes, and flooding from April 10, 2026, to April 21, 2026. See AmeriHome Mortgage’s 20260704-CL Disaster Announcement for inspection requirements.
Capital Markets
Last week was quite the balancing act between increasingly uncertain monetary policy and persistent geopolitical risks. Renewed Middle East tensions kept oil prices volatile and reinforced inflation concerns. While the Fed, as expected, left rates unchanged, the unusually close 9-3 vote and Chair Warsh's deliberately restrained communication style mean that additional tightening remains a realistic possibility. Rather than providing explicit forward guidance, Warsh emphasized allowing markets to do much of the tightening themselves, resulting in a steeper yield curve as short-term yields declined modestly while long-term Treasury yields climbed.
What is the data suggesting about rate direction? Mixed economic data (i.e., softer inflation, slower GDP growth, firm wage growth, and still-elevated inflation expectations) did little to alter the view that the Fed remains firmly in a data-dependent holding pattern heading into this week's employment report. Resilient economic fundamentals continue to give the central bank the flexibility to remain patient.
Treasury markets stabilized after Wednesday’s Fed-driven selloff. Long-term yields pulled back modestly from recent highs but remained elevated as investors reassessed the Federal Reserve’s commitment to containing inflation. The 2s10s spread expanded by 11-basis points over the course of the week to 46-basis points by Friday's close.
Mortgage markets also stabilized after recent volatility, with Agency MBS spreads tightening modestly as investors returned to the sector, although borrowing conditions remain challenging. Mortgage rates climbed to their highest levels in roughly a year, driving another sharp decline in mortgage applications and further dampening refinancing activity, while specified pool performance improved selectively and dealer positioning became more balanced.
It will be worth watching whether mortgage spreads can continue to recover as markets digest payroll data this week, evolving Fed expectations, and ongoing geopolitical developments. July’s employment report is expected to show the labor market remained broadly stable in July: modest payroll growth, an unchanged unemployment rate and wage growth consistent with limited labor-driven inflation pressure. Remember, a stable labor market provides room for additional tightening should inflation remain stubbornly high.
Before that release, the week is packed with market-moving economic data, including manufacturing, housing, labor market, inflation, and business activity data. By the end of today we’ll see Final July S&P Global U.S. Manufacturing PMI, June Construction Spending, and July ISM Manufacturing Index. Before that volley of economic news, we begin the week with Agency MBS prices about .250 in price better than Friday’s close, the 2-year yielding 4.23, and the 10-year yielding 4.67 after closing last week at 4.75 percent, up 33-basis points over the course of July.