AI Governance, Fulfillment, DPA, Reverse Products; Fed Policy Updates; Webinars Focused on the Primary Market
Seen on a fortune cookie: Your destiny is to spend hours proving you are not robots on websites run by robots, just to read articles written by robots.” Is Big Tech reminiscent of Big Tobacco? Chrisman LLC had a backup system to replace Outlook being down… Meanwhile United Is restricting AI Agents from booking flights. Next week I head to St. Louis and Kansas City while Robbie heads to the Texas MBA. Local and state organizations are doing well, and certainly have their “fingers on the pulse” of the industry which includes the pros and cons of technology. For example, data breaches have become common place. Attackers claim to have stolen data on over 1 million Vanderbilt students and staff. Lenders are a constant target; earlier this year we had Figure’s breach opening up a million user records and apparently caused by an employee clicking on the wrong link. Democrats won control of Congress, and the decisive results point toward our 'cohesive' Democratic majority scenario: key market implications include incrementally negative AI sentiment on greater expectations for data center restrictions. (Today’s podcast can be found here. This week’s ‘casts are presented by Truework, a Checkr company, the one verification solution to replace in-house waterfalls. Verify any borrower with a VOIEA solution that automates the entire process to quickly deliver the most accurate and complete reports with broad GSE coverage. Today’s has an interview with Lower’s Gino Fronti on how consumers are increasingly open to AI in mortgage lending for faster, more reliable pre-approvals, but the future of the loan process will depend on combining automation and speed with human guidance, personalized mortgage strategies, and deeper loan officer expertise.
Lender and Broker Products, Services, and Software
Cut yourself a slice of a growing market. More than 4 million Americans will turn 55 this year (over 11,200 per day) creating a steady flow of homeowners aging into reverse mortgage eligibility. This demographic shift is creating a steady pipeline of potential borrowers with evolving financial needs in retirement. Finance of America partnered on a white paper that explores how adapting your lending strategy can help you stay relevant as more borrowers age. Download it today to see how serving this growing segment could create durable production opportunities. Finance of America | NMLS 2285
The Essex Mortgage DPA Program, trusted by lenders for over 20 years, just got even better! Over the last few months, we’ve made some exciting updates that are helping expand access to homeownership for borrowers nationwide. Updates to manual underwriting guidelines: The minimum credit score required is now 600 on all loans, including manually underwritten loans. For maximum DTI, follow FHA guidelines. Co-signer flexibility: Co-signers are now allowed without being on title. Washington state is now aligned with our national program: High balance, the 3-year forgivable option, and 2/1 buydowns are now available in all 49 states we serve (Not available in NY). As the Industry Leader in Down Payment Assistance, we keep removing barriers so more of your borrowers can make the dream of homeownership a reality. Ready to put the new guidelines to work? Connect with Essex today!
“Why Pay for Loans You Never Close? Mortgage volumes fluctuate. Your fulfillment costs shouldn't be locked in. In a market defined by unpredictable loan volumes, tightening margins, and evolving technology, lenders need flexibility, not three-year contracts and guaranteed minimum volume commitments. At Stellar Innovations, we believe your mortgage fulfillment partner should adapt to your business, not the other way around. Our scalable mortgage fulfillment solutions combine industry expertise, AI-powered technology, and operational efficiency, without long-term contracts or guaranteed minimum volumes. Why pay for capacity you may never need? Choose a fulfillment partner built to adapt to today's mortgage market. Explore how Stellar can support your mortgage operations, contact Steven Greenfield, CMB®, SVP of Mortgage Solutions.”
Your AI governance policy is only the beginning. When AI acts inside a mortgage workflow, your team still needs clear answers: Was it authorized? What was it allowed to do? Which authority applied? And where is the proof? Crittora controls AI at the moment it acts. Crittora’s CAAB solution evaluates whether an AI action is within defined authority before it reaches a tool, API, or mortgage system. Crittora Mortgage GSE Governance aligned Packs help turn those decisions into audit-ready proof. Control AI before action. Evidence after action. Less time chasing proof at audit. Crittora is the only AI security company with 100 years of combined mortgage experience. We are FRAME certified by MISMO, and ready to help you move your governance policy to production.
The next Chrisman Demo Day is November 19 and is a free perk for all Chrisman Marketplace members. If you're a technology or service provider and haven't joined the Marketplace yet, reach out to Chloe Murray at info@chrismancommentary.com to 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 Webinars
Could you spot a changed number on a pay stub? What about a subtle font change or borrower information that doesn't match across documents? Join us Tuesday, November 17, at 12:00 PM ET for 15 Minutes with AiCR, featuring DocAlign, our document fraud review capability. We'll walk through how AiCR checks document metadata, identifies differences in fonts and formatting, validates calculations, and compares information across documents to flag potential issues for further review. No lengthy presentation. Just 15 minutes focused on how it works. Register here to save your spot.
Everyone claims AI can fix your social media, but very few can show the receipts. Here’s a receipt: a social page grown to 300,000 followers in 60 days using AI. On Wednesday, November 18 at 1 p.m. ET / 10 a.m. PT, Kyle Raineri of RealEstateContent.ai will show exactly how it was done and how originators can borrow the same system. If your social media has cost plenty and returned little, that number should get your attention. Kyle will run the full system live, including creating a month of professional content in one sitting and showing up when borrowers and referral partners search Google and ChatGPT, no AI expertise required. It’s an hour, it’s free, and one actionable idea makes it worth the time. Register here.
Your next top producer might be underperforming somewhere else right now. Plenty of originators with mediocre numbers aren’t short on talent, they’re on a platform that doesn’t match their market, selling skills, or operational strengths, and the recruiters who win spot that mismatch before anyone else does. That’s the premise of the NMP Ignite session “LO Talent War” on Tuesday, November 17 at 1 p.m. ET / 10 a.m. PT, where NMP’s Andrew Berman puts NEXA Lending’s Jason duPont and West Capital Lending’s Matthew Blackmer in the hot seat. Both were featured in NMP’s “Assassin Recruiters” cover story, and they’ll walk through how to recognize raw talent, cold outreach versus warm introductions, recruiting whole teams, what signing bonuses really cost, the first 90 days, and the red flags that say walk away even when the numbers look great. Sponsored by MaxClass, registration is free here.
Freddie Mac Learning: Collateral Valuation Options: ACE+ PDR. Learn how ACE+ PDR works, discover the benefits of this offering, review essential documentation requirements, and gain a thorough understanding of eligible and ineligible mortgage types. Manufactured Home Mortgages: Eligibility, Appraisal & Title Requirements: Learn how Freddie Mac defines a manufactured home and what’s required for a mortgage secured by one. Freddie Mac will cover key property eligibility, appraisal standards, and title/ownership documentation. Timely Loan Delivery Fundamentals: Discover the high-level process and key steps for achieving timely funding and settlement of loans and contracts delivered through Loan Selling Advisor.
Join Freddie Mac on Tuesday, November 17, 2026 - 12:00 - 12:45 p.m. ET for a Lunch & Learn to hear directly from Freddie Mac experts, get clarity on the changes, and better understand what these updates mean for you and your team. Come prepared with your questions and leave with the information you need to navigate the new requirements with confidence.
Deephaven and Illinois MBA (IMBA) present “Beyond the Box: The Non-Agency & Equity Opportunity” on November 17th from 10-11AM CT. “Ready to look beyond traditional mortgage lending? Join us for this educational webinar designed to help mortgage professionals explore alternative lending solutions, uncover new opportunities, and better serve borrowers who may not fit conventional lending guidelines. We will cover the evolving non-agency mortgage landscape, discuss how equity-based lending solutions can help unlock opportunities, and highlight strategies for working with borrowers whose financial profiles or goals require a more flexible approach.
Deephaven and MBA Florida (MBAF) offer “Beyond the Box: The Non-Agency & Equity Opportunity” on November 17th from 3-4PM ET. “Ready to look beyond traditional mortgage lending? Join us for this educational webinar designed to help mortgage professionals explore alternative lending solutions, uncover new opportunities, and better serve borrowers who may not fit conventional lending guidelines. We will cover the evolving non-agency mortgage landscape, discuss how equity-based lending solutions can help unlock opportunities, and highlight strategies for working with borrowers whose financial profiles or goals require a more flexible approach.
Webinar - Automate Compliance Review for Your Content, Right Inside Canva. Manual compliance review can slow campaigns down. On Tuesday, November 17 at 2 PM ET, ActiveComply’s Melissa Grindel, Head of Compliance & Industry Strategy, will demo ActiveComply Pre-Review in Canva, which automates the marketing compliance review. See how an AI scan automatically checks each design against your institution’s own rules and flags issues before content ever reaches compliance. You’ll watch Pre-Review work inside Canva: what marketing sees, how findings come back, and how compliance officers stay in the loop on anything that needs a judgment call. No download, no email chains, no separate login. Built for marketing, sales, and compliance teams at mortgage lenders and financial institutions. Live Q&A included. Register today!
There are the National MI, ARCH MI, MGIC, Essent, Radian, and Enact training calendars.
Capital Markets
U.S. Treasuries sold off sharply yesterday following the midweek Veterans Day market closure, pushing 10-year and 30-year yields to three-week highs, while the 2-year yield reached a four-week high as expectations for a 50-basis point December rate hike more than doubled to above 15 percent. Persistent selling pressure was reinforced by crude oil prices climbing, exacerbating concerns over inflation and a potentially more aggressive Federal Reserve tightening path. And that’s to say nothing of NVIDIA leadership changes dragging the equities market down, or the Microsoft Outlook outage giving a huge swath of employees an adult “snow day.” Additionally, The Federal Reserve released its meeting schedule for 2027, designating the October meeting as a Monetary Policy Strategy meeting.
Yes, U.S. inflation has accelerated for the third consecutive month, exceeding expectations as persistent core and services inflation, rising costs, tariffs, geopolitical tensions, and strong AI investment continue to fuel price pressures. Stronger employment data and increasingly hawkish Federal Reserve commentary have shifted market expectations toward a 25-basis point rate hike on December 9, reflecting growing concerns that inflation will remain elevated and interest rates higher for longer, despite declining inflation expectations suggesting continued confidence in the Fed's eventual ability to contain price pressures. The hawkish outlook is creating sustained pressure on Treasury markets, mortgage-backed securities, mortgage rates, and housing affordability, while potential safe-haven demand amid equity market and AI investment uncertainty could provide some offset to Treasury selling.
We learned yesterday that existing home sales fell 5.5 percent month-over-month in October to an annualized rate of 3.75 million, significantly below expectations, marking an 8.8 percent decline from a year earlier. Sales dropped to their lowest level since August 2010, reflecting weakening buyer demand as mortgage rates remained above 7 percent and persistent inflation further strained affordability. All four U.S. regions recorded year-over-year declines, with the West experiencing its weakest sales pace on record since 1999. Put simply, there are a lot of challenges facing the housing market.
Today’s economic calendar is already underway with October PPI (+.3 percent, as expected, and a prior reading of 1.3 percent; +6.5 percent Y-o-Y) and Core PPI (+3 percent, about as expected and a prior reading of 0.7 percent). Later today brings Fed remarks from Collins, Logan, Bowman, Daly, and Jefferson. We begin Friday with Agency MBS prices worse than Thursday’s close by .125-.250, the 2-year yielding 4.84, and the 10-year yielding 5.13 after closing yesterday at 5.10 percent.