As many of us prepare for the National Secondary (and visiting I’m Donut? in Times Square), food is an issue. If you’re a fan of saffron in your food, find a substitute. The blocking of the Strait of Hormuz due to the war has hit saffron: Iran produces 90 percent of it. The war’s impact on mortgage rates will certainly be a topic on today’s Capital Markets Wrap, and I received this note. “Rob, mortgage rates have moved higher, certainly higher than where we thought they’d be.

It is hard to believe that “Top Gun” premiered 40 years ago today. Put another way, people who were 40 then are now, uh… 80! And probably grand or great grandparents. Speaking of which, are “Granny pods” going to be the latest purchase housing trend? If you’re hoping that the summer is going to bring a trend of purchase market prosperity, I hope you’re right but there are indications otherwise. Rocket Companies’ CEO reported its highest profit in four years, but CEO Varun Kri

“My friend asked me to help him round up his 37 sheep. I said, ‘40.’” There will be a lot of numbers (and topics) flying around the upcoming MBA's Secondary & Capital Markets Conference, in New York with over a thousand registered including a portion of the Chrisman LLC team heading there later this week. There are many other topics, some of which, like AI in capital markets and the recapture impact on rate sheets, will be on this Wednesday’s Capital Markets Wrap, sponsored b

Land… they’re not making any more of it. In fact, in one state’s case, it’s going away due to climate change, which, if you think it (natural or manmade) is a hoax, put your money where your mouth is and buy beach front land in Louisiana. Or buy a lot a mile inland and wait. A new study published in Nature Sustainability argues that, at this point, southern Louisiana will face three to seven meters of sea level rise as a result of warming global temperatures, which will resul

“Where do you bring someone who has been injured playing Peek-a-Boo? The ICU.” Fortunately, all the recent mortgage conferences have kept injuries to a minimum as the “talk in the hallways” continues. Hey, before I forget, if you haven’t signed up for the Mortgage Action Alliance, do so. It’s free, has good advocacy information, and there’s strength in numbers. Recent conference chatter includes suggesting that removing politics from the mortgage conversation would be a good

My cat Myrtle never made it to the Great River or Mortgage Innovator’s mortgage conferences, but plenty of people did. Between these May events, the TMBA Annual, the Gathering, Sagent Ignite, and the National Secondary coming up, there’s a lot of meetin’, talkin’, and educatin’. Talk in the halls, somewhat somber but hopeful, revolves around AI, Figure challenging Freddie and Fannie in the first-lien mortgage market by using its blockchain platform, UWM and TWO press releases

“What do you call an aging actor who has finally paid off his house? Mortgage freeman.” Servicing is a highly important component of that, and I was fortunate to attend Sagent Ignite in Phoenix yesterday; we have a special live podcast today that was recorded from the event. Mortgagees follow demographics, whether it be aging owners or aging houses. Lenders know that there are plenty of old homeowners who have plenty of equity. GreenPath Financial Wellness (a nonprofit approv

Today is not the Mexican equivalent of the 4th of July. Today celebrates Mexico’s victory over France in the Battle of Puebla on May 5, 1862. (In this country, Hispanic home ownership rates are north of 10 million, which includes, of course, Mexicans. What lender is going to ignore that? In Mexico itself, mortgage rates are north of 10 percent and homeownership is less than 60 percent.) Returning to the note about today, it was a relatively minor battle (and the French reclai

“May the 4th be with you!” I am sure that Fannie and Freddie have their share of Stars Wars fans. Speaking of which, the industry is talking about their earnings: Fannie Mae had $3.7 billion of net income, Freddie Mac had net income of $3.6 billion. Regular and frequent information like this is critical to make informed decisions, whether you’re thinking about buying stock or buying a home. I recently received this note. “Rob, occasionally I am asked by my clients, and friend

“May the 4th be with you!” I am sure that Fannie and Freddie have their share of Stars Wars fans. Speaking of which, the industry is talking about their earnings: Fannie Mae had $3.7 billion of net income, Freddie Mac had net income of $3.6 billion. Regular and frequent information like this is critical to make informed decisions, whether you’re thinking about buying stock or buying a home. I recently received this note. “Rob, occasionally I am asked by my clients, and friend

The wars in Ukraine and Iran, and the demand by data centers, have reminded us of how important energy is as well as how the costs are borne by citizens around the world, and in the U.S. at the pump. Lenders know that energy influences the economy, and the economy moves interest rates. For example, although it is not in the headlines every day and is facing headwinds in the United States, globally the wind industry has the wind at its back. Last year was a bona fide bonanza f

“I was gonna tell a joke about time traveling. But you guys didn't like it.” It is hard to believe that 2026 is a third over, or that Top Gun debuted 40 years ago this month. Something else to note is that the use of down payment assistance has risen sharply over the past year and a half, especially among FHA borrowers. Participation has jumped from 7.5 percent at the start of 2025 to over 21 percent recently, near the highest levels in years, as high home prices and borrowin