Rob Chrisman
- Contributor, Mortgage News Daily
- Podcast Host and Consultant, Chrisman Commentary - Daily Mortgage News
- Founder and Editor-in-Chief, Chrisman Commentary
California
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Articles by Rob Chrisman
Veteran’s Day: LO jobs; partnerships sought; AI, equity, agent search, VOI, PPE tools; the continuing saga of credit; VA stats
The U.S. bond markets are closed today, so beware of posted rates. Ever wonder why little moves in interest rates move mortgage rates significantly? Capital Markets Wrap is today at noon PT. Presented by Polly, the Panel, among other things, will cover that as well as how certain products move in certain ways.
Nov. 10: Accounting, processing, HELOC, AI governance tools; Webinars approaching; Gov’t product news; CPI moves rates
“I found a 95 year old painting in my attic. I asked him to leave.” Humor aside, many people have been asked to leave places like Fannie Mae, Freddie Mac, Go Mortgage, Onity, and others. It isn’t surprising, and the reductions are, in fact, a sign of the times given the time of year and the rate environment.
Accounting, Processing, HELOC, AI Governance Tools; Webinars Approaching; Gov't Product News; CPI
“I found a 95 year old painting in my attic. I asked him to leave.” Humor aside, many people have been asked to leave places like Fannie Mae, Freddie Mac, Go Mortgage, Onity, and others. It isn’t surprising, and the reductions are, in fact, a sign of the times given the time of year and the rate environment.
Nov. 9: LO jobs; ops efficiency, non-QM, AI governance tools; STRATMOR and M&A strategy; election result thoughts; FEMA did what?
All of you out there wishing there were fewer people on the roads or in line at the post office, take heart. Lenders with a long time horizon, not so much.
Ops Efficiency, Non-QM, AI Governance Tools; M&A Strategy; Election Results and Lending; FEMA Changes
All of you out there wishing there were fewer people on the roads or in line at the post office, take heart. Lenders with a long time horizon, not so much.
Nov. 7: A bevy of recent earnings; Anatomy of a lender merger; Saturday Spotlight: Flyhomes
Lenders and servicers, and the public in general, continue to be reminded of the importance of water: too much, too little, or too dirty. Just ask the people in Flint, Michigan, or now… Vermont? Lake Champlain, which straddles New York and Vermont and heads up into Quebec, supplies drinking water to 200,000 people.
Nov. 5: LO jobs, seller sought; HFA, broker, AI appraisal review, LO directing, AI title search tools; STRATMOR on M&A strategy
Why am I a sucker for stories like, “What Do the Twins in the Shining Look Like Now?”? Is the American public a sucker for not being more concerned that no politician seems concerned about the burgeoning deficit? Will there be any “fiscal conservatives” in Congress, or the White House? Here in Dallas, one of the topics, of course, is the election.
Nov. 6: AE jobs; DPA, HELOC, agent assistance, UAD 3.6 tools; cap mkts view on credit modernization; thoughts on the election
My cat Myrtle never cared about voting, or its impact on the CFPB, but David U. from the MBA answers the question about why the vote counts in Mississippi are going to slow. “Well, because they have to say ‘One Mississippi, two Mississippi’ after each vote counted.” I received this note from a senior mortgage manager in Tennessee.
DPA, HELOC, Agent Assistance, UAD 3.6 Tools; Funded Loan Data; Credit Modernization, or Just Noise?
Lender and Broker Products, Services, and Software Your borrower relationship shouldn’t end at the closing table. Homeowners’ financial needs continue long after they get their first mortgage, but the lender relationship often does not. That creates an opportunity for mortgage professionals to support needs throughout the homeowner lifecycle. Finance of America partnered on a white paper that explores why growth may require looking beyond purchase and refinance.
Remember The Consumer Financial Protection Bureau?
Despite staffing cuts, legal challenges, and a lower public profile, the CFPB remains a consequential force in residential lending When was the last time you heard anyone talk about the CFPB? Just because it's been a while doesn’t mean the organization isn't functioning, its employees aren't working, or lenders aren't being examined. Certainly, it is worth knowing what the CFPB is up to, why, and where it might go from here.
Nov. 5: LO jobs, seller sought; HFA, broker, AI appraisal review, LO directing, AI title search tools; STRATMOR on M&A strategy
Why am I a sucker for stories like, “What Do the Twins in the Shining Look Like Now?”? Is the American public a sucker for not being more concerned that no politician seems concerned about the burgeoning deficit? Will there be any “fiscal conservatives” in Congress, or the White House? Here in Dallas, one of the topics, of course, is the election.
HFA, Broker, AI Appraisal Review, LO Directing, AI Title Search Tools; STRATMOR on M&A
Why am I a sucker for stories like, “What Do the Twins in the Shining Look Like Now?”? Is the American public a sucker for not being more concerned that no politician seems concerned about the burgeoning deficit? Will there be any “fiscal conservatives” in Congress, or the White House? Here in Dallas, one of the topics, of course, is the election.
Nov. 4: LO jobs; AI strategy, SaaS, HELOC, non-QM products; webinars of note; politics doesn’t change people wanting to own a home
“If your election lasts more than 48 hours, consult a physician.” Yes, there was/is an election which is certainly a discussion topic here in Dallas, but regardless of the results, many people who don’t own homes want to buy one, and people who do may be facing life changes and could use personal advice. Here’s a trend: Homeowners who won’t give up a 3 percent mortgage are becoming landlords instead. Do you have a product (and underwriting) to help them at every stage?
AI Strategy, SaaS, HELOC, Non-QM Products; Webinars; Capital Markets React to Election Results
Yes, there was/is an election which is certainly a discussion topic here in Dallas, but regardless of the results, many people who don’t own homes want to buy one, and people who do may be facing life changes and could use personal advice. Here’s a trend: Homeowners who won’t give up a 3 percent mortgage are becoming landlords instead. Do you have a product (and underwriting) to help them at every stage?
Nov. 3: POS, DPA, HELOC, LO productivity tools; Webinars today & tomorrow; STRATMOR on M&A prep; MISMO & MCD
“Waiting for election results is like waiting for a grade on a group project: I know I did my part right, but I am worried the rest of you screwed it up.” Fifty years ago, when response rates to polls were much better than today’s 1 percent, Rod Stewart’s “Tonight’s the Night” was the top song in the USA. It’s a safe bet that it had nothing to do with election results.
POS, DPA, HELOC, LO Productivity Tools; Webinars; STRATMOR on M&A; MISMO's Compliance Dataset
Lender and Broker Products, Services, and Software Most lenders are still catching up on tech. Here’s your chance to get ahead. In this report, Plaid and National Mortgage News asked 128 lenders how they’re handling today’s pressures. Most still rely on manual processes, and only 15 percent have optimized their tech strategy.
Broker, Home Equity, Verification, M&A Data; Legal Issue Conference; Non-Agency Product News
Sometimes you and your teammates have different priorities. I head to Dallas tomorrow for a private mortgage event, where the priorities will probably be mostly aligned. Besides the election, and perhaps the inflation-beating Costco’s Thanksgiving meal, the profitability of HELOCs, 2nd mortgages, and equity products in general will definitely be a discussion topic. In the past much of this product (85 percent by some estimates) was held by banks.
Halloween: Banks’ role in mortgage; home equity & AI; Third party product rollouts; Saturday Spotlight: The Reno Gal LLC
For better or worse, alcohol consumption is part of most of the world. Statisticians, analysts, and economists follow the numbers. Household spending on alcohol in the United States is at a record low, with alcoholic beverages accounting for 0.77 percent of average expenditures in 2025, just $630 per household.
Oct. 30: LO, AE jobs; LO performance, AI governance, ARM, non-QM execution, U/W tools; In-person events into 2027
As companies around the nation stage in-person or virtual costume contests, here’s some information for you a little off the beaten path. People want to own a home (“no one grows up wanting to be a renter”) regardless of… the amount of daylight? Looking at averages in the Continental United States (not Alaska or Hawaii), the difference between the amount of daylight on the first day of summer and the first day of winter is 5 ½ hours, “cushioned” by adjusting our timepieces.
Broker, DPA, AI Governance, Benchmark, U/W Products; Webinars; STRATMOR on Mergers
As companies around the nation stage in-person or virtual costume contests, here’s some information for you a little off the beaten path. People want to own a home (“no one grows up wanting to be a renter”) regardless of… the amount of daylight? Looking at averages in the Continental United States (not Alaska or Hawaii), the difference between the amount of daylight on the first day of summer and the first day of winter is 5 ½ hours, “cushioned” by adjusting our timepieces.
Oct. 29: Non-QM execution, real estate agent service, UAD 3.6, jumbo products; Freddie earnings: $3.2 billion and other F&F new
Artificial intelligence continues to capture the imagination of a wide range of companies, including lenders. “Why Underwriting Is the Right Problem for AI to Solve First,” is a topic on a recent Thought Leadership piece. It will be a topic on today’s The Big Picture with James Sais, the head of mortgage lending at Fifth Third Bank. You may be thinking about rolling AI out, but who’s in charge, you or it?
Non-QM Execution, Real Estate Agent Service, UAD 3.6, Jumbo Products; Freddie Earnings
Artificial intelligence continues to capture the imagination of a wide range of companies, including lenders. “Why Underwriting Is the Right Problem for AI to Solve First,” is a topic on a recent Thought Leadership piece. It will be a topic on today’s The Big Picture with James Sais, the head of mortgage lending at Fifth Third Bank. You may be thinking about rolling AI out, but who’s in charge, you or it?
Oct. 28: AI governance, license renewal, servicing transfer, SOC products; STRATMOR M&A biz; conferences ahead; Fannie’s solid earnings
The other day I went to Costco, and for $5.99 bought a pumpkin pie the size of a hubcap. What inflation? Costco’s hot dog/soda combo or the rotisserie chicken are loss leaders, but actual gasoline, beef, lettuce, restaurant meals, goods from overseas, and other items’ price changes have kept inflation in the headlines and impacted mortgage rates.
AI Governance, License Renewal, Servicing Transfer, SOC Products; Fannie Earnings
The other day I went to Costco, and for $5.99 bought a pumpkin pie the size of a hubcap. What inflation? Costco’s hot dog/soda combo or the rotisserie chicken are loss leaders, but actual gasoline, beef, lettuce, restaurant meals, goods from overseas, and other items’ price changes have kept inflation in the headlines and impacted mortgage rates.
Oct. 27: LO jobs; Appraisal review, equity, QC review tools; jumbo competition, Microsoft news implications? STRATMOR tech survey; MBA Homebase
The ancient Chinese philosopher Sun Tzu said, “Sometimes the best victory is the battle that was not fought.” In a shrinking residential market there are a lot of potential battles, for example: “Rob, are you hearing that some IMBs are not charging an origination fee or putting caps on LO comp for jumbo loans?” Of course, especially if the independent mortgage bank, or broker, is in an area where’s you’re battling it out with credit unions and banks.
Appraisal Review, Equity, QC Tools; Jumbo Competition, Microsoft News Implications? STRATMOR Tech Survey
The ancient Chinese philosopher Sun Tzu said, “Sometimes the best victory is the battle that was not fought.” In a shrinking residential market there are a lot of potential battles, for example: “Rob, are you hearing that some IMBs are not charging an origination fee or putting caps on LO comp for jumbo loans?” Of course, especially if the independent mortgage bank, or broker, is in an area where’s you’re battling it out with credit unions and banks.
Oct. 26: LO jobs, and recruiting service; Equity, reverse, non-Agency, UAD 3.6 products; What capital markets are watching
We have a little over a week until the election, but things have been heating up for a while. In the intersection of politics, government institutions, and residential lending, there was another round of Freddie Mac layoffs last week, and we also had last week’s Executive Order hoping to eventually help affordability. Before that, Dan Gilbert and Rocket Mortgage found themselves in the press by donating $10 million through the Trust for the National Mall to The Donald J.
Equity, Reverse, Non-Agency, UAD 3.6 Products; What's Ahead in Capital Markets?
Lender and Broker Products, Services, and Software Manual document reviews, repeated data entry and time-consuming “stare and compare” tasks slow down back-office processes. ICE Aurora is an enterprise mortgage AI solution that helps lenders and servicers move from manual, fragmented steps to more connected, AI-supported workflows. This allows more time for the work that matters. AI-assisted capabilities span the loan lifecycle.
Oct. 24: Transcript of AI shopping a broker’s quote; Renter snapshot; Saturday Spotlight: Finance of America
“Rob, you’ve mentioned it a few times in your daily write up… What’s the scoop with these calls that tell me that the ‘underwriting team’ has approved me for a $45,000 loan, and just need a little more information”? Yup… I seem to receive 5-8 of those a week. Block, delete. Block, delete. One of Robbie’s recent interviews addressed the legality of these calls, one with Saul Ewing’s Jason McElroy on the Telephone Consumer Protection Act.
Capital Markets Recap – October 23, 2026
The mortgage industry is confronting a fundamental affordability problem: housing costs remain stubbornly high just as consumers, lenders, and builders are losing momentum. President Trump’s executive order seeks to address part of that problem by directing federal agencies to develop measures that could reduce mortgage insurance expenses, refinancing costs, and rates on certain USDA and VA loans, while encouraging more affordable manufactured housing.
Oct. 23: LO jobs; Company valuation, equity, friction audit, vendor mgt., borrower communication tools; Lender merger; What EO does or doesn’t do
“A boiled egg is hard to beat.” What does $10.06 buy you, on average, in Honolulu? A dozen eggs. (It also buys two gallons of unleaded.) High prices and rates are impacting potential borrowers and voters alike, and there’s nothing our Fed can do about it. On the Fed front it’s been relatively quiet, aside from President Trump’s accusations of criminal wrongdoings by ex-Chair Powell being dismissed. There is, however, a Federal Open Market Committee meeting next week.
Company Valuation, Equity, Friction Audit, Vendor Mgt., Borrower Communication Tools; Capital Markets
Lender and Broker Products, Services, and Software The ability to move swiftly and confidently through the origination and underwriting process matters more than ever. That’s why Plaid is empowering mortgage bankers to close faster, with more certainty. With Plaid, you can instantly verify an applicant’s assets, income, and employment, all straight from the source. Applicants get a quicker way to share their financial data, and your teams get a simpler way to act on it.
Oct. 22: LO, AE jobs; LO performance, AI governance, ARM, non-QM execution, U/W tools; In-person events into 2027
In the book “1984” George Orwell observed, “Who controls the past controls the future. Who controls the present controls the past.” I was in Reno this week, with voting already open, and if the lines outside the stations are any indication there is going to be a huge turnout for the upcoming election. There are plenty of current events impacting people’s opinions and psychology, which in turn spill over into potential buyers either sitting on sidelines or buying a home.
LO Performance, AI Governance, ARM, Non-QM Execution, U/W Tools; In-Person Events Into 2027
Lender and Broker Products, Services, and Software “Ready to get ahead of what’s next in mortgage technology? Join us for the client-exclusive Optimal Blue Summit 2027, taking place Feb. 1 – 3, 2027, at the JW Marriott Desert Ridge Resort & Spa in Scottsdale, Arizona, for hands-on training, insightful breakout sessions, product demonstrations, and conversations with mortgage and business leaders.
Oct. 21: Fulfillment, home price performance, borrower assistance tools; Webinars of note; non-Agency product & processing intel
Let’s see what’s in my electronic mailbag. “Rob, is it true that LOs can now join the MBA directly?” Yup. There’s MBA Homebase that provides loan officers with education, coaching, professional development, and a stronger voice in the mortgage industry. It is open to loan officers at every lender and across every origination channel, regardless of whether their company is an MBA member. “Rob, I watched President Trump talk about Montana being helped, financially, by Fannie and Freddie.
Fulfillment, Home Price Performance, Borrower Assistance Tools; Webinars; Non-Agency Products
Let’s see what’s in my electronic mailbag. “Rob, is it true that LOs can now join the MBA directly?” Yup. There’s MBA Homebase that provides loan officers with education, coaching, professional development, and a stronger voice in the mortgage industry. It is open to loan officers at every lender and across every origination channel, regardless of whether their company is an MBA member. “Rob, I watched President Trump talk about Montana being helped, financially, by Fannie and Freddie.
Fulfillment, Home Price Performance, Borrower Assistance Tools; Webinars; Non-Agency Products
Let’s see what’s in my electronic mailbag. “Rob, is it true that LOs can now join the MBA directly?” Yup. There’s MBA Homebase that provides loan officers with education, coaching, professional development, and a stronger voice in the mortgage industry. It is open to loan officers at every lender and across every origination channel, regardless of whether their company is an MBA member. “Rob, I watched President Trump talk about Montana being helped, financially, by Fannie and Freddie.
Oct. 20: AI ass’t, home equity, servicing, borrower capture, audit tools; MISMO & DPA; Beware of scams; at least rates aren’t going up
“I ordered a book online titled, ‘How to Scam People Online.’ It’s been six months and I still haven’t received it.” Being scammed, and fraud in general, isn’t a laughing matter. Companies like SoFi publish information on how to recover afterward. People over 60, as always, are more susceptible. The FBI has a website on mortgage fraud which is well-regarded. Good loan officers are instrumental in teaching their clients about it.
AI Ass't, Home Equity, Servicing, Borrower Capture, Audit Tools; MISMO & DPA
“I ordered a book online titled, ‘How to Scam People Online.’ It’s been six months and I still haven’t received it.” Being scammed, and fraud in general, isn’t a laughing matter. Companies like SoFi publish information on how to recover afterward. People over 60, as always, are more susceptible. The FBI has a website on mortgage fraud which is well-regarded. Good loan officers are instrumental in teaching their clients about it.
Oct. 19: Non-Agency U/W, borrower retention, AI governance tools; Conv. conforming news; Let AI manage your money?
“There’s a cohort of American males who believe that, with 1-2 years of dedicated practice, they could win the Masters golf tournament. As a marketer, it is important to understand that you can sell these people anything.” Advertising is not the same as marketing (it’s a component of it) and artificial intelligence is a part of it, especially for lenders.
Non-Agency U/W, Borrower Retention, AI Governance Tools; Conventional News; Let AI Manage Your Money?
“There’s a cohort of American males who believe that, with 1-2 years of dedicated practice, they could win the Masters golf tournament. As a marketer, it is important to understand that you can sell these people anything.” Advertising is not the same as marketing (it’s a component of it) and artificial intelligence is a part of it, especially for lenders.
Oct. 17: Primer on credit turmoil; Down payment assistance and MISMO; LO comp thoughts; Saturday Spotlight: Flyhomes BBYS
“If life gives you lemons, make lemonade.” Just make sure that you can call it lemonade.” LO compensation, regardless of title, is aways a topic. With its staffing situation seemingly reaching a new homeostasis, the CFPB is now probably just waiting for the confirmation of Brian Johnson as its new Director to get back at its deregulatory agenda.
Oct. 16: LO jobs; AI document, broker, U/W, QC tools; Lender/investor earnings of note; credit news; LO retention examined
The MBA believes that 2027’s production will be 5 percent less than 2026’s and be below $2 trillion. “Rob, are you hearing that, with volumes down (units and volume), lenders are once again examining keeping entire loan originator workforces?” Indeed I am.
AI Document, Broker, U/W, QC Tools; Lender/Investor Earnings; Credit News; LO Retention Examined
The MBA believes that 2027’s production will be 5 percent less than 2026’s and be below $2 trillion. “Rob, are you hearing that, with volumes down (units and volume), lenders are once again examining keeping entire loan originator workforces?” Indeed I am.
The Servicing Market: Trends to Watch
Servicing mortgages has always been a thing of value, for the most part, and a source of income in difficult times. And in difficult times, companies have sold their servicing rights or are continually adjusting their holdings to focus on business goals and objectives. A bank may only want to own servicing in its own branch footprint, for example. What is the market seeing among clients who are selling servicing? There are really two “flavors” of mortgage servicing rights out there.
Oct. 15: LO jobs; Borrower intelligence, margin mgt tools; MBA & affordability; FASB servicing proposal; DSCR interview on concerns
“My coworker asked me how I’m doing this morning. Yet another third party trying to steal my data!” Data travels at the speed of light. Mickey D’s is reportedly using artificial intelligence to “dynamically” price its burgers. Imagine a lender trying that! AI filled the exhibition hall at the MBA’s conference this week. I don’t use AI to write this Commentary, but perhaps I should tack “AI” onto the end of it in case I want to raise money or attract more readers.
Borrower Intelligence, Margin Mgt Tools; MBA and Affordability; FASB Servicing Proposal; DSCR Interview
“My coworker asked me how I’m doing this morning. Yet another third party trying to steal my data!” Data travels at the speed of light. Mickey D’s is reportedly using artificial intelligence to “dynamically” price its burgers. Imagine a lender trying that! AI filled the exhibition hall at the MBA’s conference this week. I don’t use AI to write this Commentary, but perhaps I should tack “AI” onto the end of it in case I want to raise money or attract more readers.
Oct. 14: Correspondent & wholesale, CLE, audit, free POS products; News from Chicago; MBA Chair Owen Lee interview; hot inflation
I recently overheard someone on the phone ask, “What percentage of my donation will go toward public recognition that I made a donation?” Clever. What percentage of the industry is shifting credit policies?
Correspondent and Wholesale, CLE, Audit, Free POS Products; News From Chicago; MBA Chair Owen Lee Interview
What percentage of the industry is shifting credit policies? Yesterday the industry learned that Fairway Independent and Movement are “now implementing VantageScore 4.0 (owned by Experian, Equifax, and TransUnion)… The VantageScore 4.0 credit scoring model is offered through Experian, Equifax and TransUnion, as well as mortgage technology providers including Xactus, Calyx, and Optimal Blue.
Oct. 13: Warehouse, litigation webinar, AMC, HELOC products; OB/Usherpa, Newrez/eXp deals; Bill Pulte bails on MBA event; LD watch
If you want privacy, you may not want to buy a new car: Many new cars share your data with third-party companies via technology. Here at the MBA National, tech is not only a popular topic, but, thanks to AddyAI, there is an Agentic registered “attendee” named Adele. The robot’s job is roaming the halls. Are you doing your “dream” job? They vary by country, by the way, and here’s a map.
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