Apr. 3: LO, U/W jobs; AI due diligence, AI guide, data mining tools; investor Agency changes; good stats to help LOs

Unlike the sunny outlook that a Golden Retriever’s or goldfish’s brain has, the human brain has a built-in negative bias that causes us to focus on bad things. This negativity bias can have an impact on our behavior and decisions. There are certainly a lot of bad things to focus on these days, but it is important for lenders and third-party providers to look past rates having gone up by .5 percent and remember the good things. For example, the U.S. home ownership percentage is about 66 percent, which means that 34 percent don’t, and home equity is about $34 trillion. Roughly 10,000 people a day become eligible, age-wise, for a reverse mortgage, and I bet a good chunk of them are home owners. Adjustable-rate mortgages are the talk of the biz. And we’re in an industry to help them all, regardless of political events and the overall interest climate. Meanwhile, the Compass–Rocket–Redfin deal (and more like it) signals a bigger shift: Companies with massive capital aren’t thinking transaction-by-transaction. They’re thinking about the ecosystem: data, distribution, and lifetime customer value. And that changes everything about how real estate competes and the opportunities. (Today’s podcast can be found here and this week’s ‘casts are sponsored by RelCu. RelCu is the all-in-one agentic platform driving conversion, retention, and cross-sell across mortgage and deposits. Today’s features an interview with Birchwood Credit Services’ Samantha Markwood on brand strategy for mortgage companies in the age of AI and what marketing tactics actually come across as authentic.)

Employment and transitions

_________________________________________________

“At Evergreen Home Loans™, growth is at the heart of everything we do, reflected in the advancement of our people. As we expand across key markets, we are proud to promote leaders who have built their careers here, especially in the Pacific Northwest where our legacy teams were established. Tyler McMahon has been promoted to Regional Manager after serving as Area Manager since 2015 and will oversee teams across Oregon, Arizona, and Southern Washington. Amber Page and Cole Grode have been promoted to Area Sales Managers. Page will lead the South Puget Sound region, and Grode will support growth across Eastern Washington and Northern Idaho. These promotions are a direct reflection of Evergreen’s long-standing commitment to developing talent, investing in our people, and creating clear paths for career growth. To learn more, visit discoverehl.com or contact Todd Miles, EVP of Production Growth tmiles@evergreenhomeloans.com.”

“You’re invited to learn how Fairway Home Mortgage supports loan officers and branch managers in building successful, sustainable mortgage careers. Thursday April 9^th at 3PM/2PM CST, join us for an anonymous virtual meeting that takes you behind the curtain with Fairway’s executive team and other leaders. You’ll get an inside look at what makes Fairway a thriving independent mortgage bank, and how its support, real independence, top-of-the-line technology, and game-changing culture are designed to help professionals succeed on their mortgage journey. This is a unique opportunity to listen, learn, and ask questions in a confidential setting. We hope you’ll join us: April Virtual Fairway Day Registration.”

“Where great underwriters do their best work: radius financial group, a privately held, growing lender, is looking to add experienced Underwriters to our team. We’ve always believed our sales teams are only as strong as the underwriters behind them. We value critical thinking, encourage collaboration, and respect the balance it takes to do this job well. If you’re looking for layers of bureaucracy and constant oversight, we’re probably not the right fit. If you’re ready to be valued and part of a team that takes pride in doing things the right way, please contact Carla Herrera, @radiusCareers Remote options available. Full benefits. Strong culture.”

The Chrisman Job Board is the go-to platform for employment opportunities across the mortgage industry. For employers, adding a job listing is easy. Simply create an account and drop in your existing application link, or forward the details to our team and we’ll take care of it for you. For job seekers, joining our Talent Community is completely free. Upload your resume to be visible to hiring companies across the industry and stay connected to new opportunities as they go live.

Products, services, and software for brokers and lenders

_________________________________________________

The team at Model Match has launched the first phase of a complete platform overhaul, reimagining how lenders access and act on real estate, mortgage, and borrower data. The release centers on a simplified search experience across loan officers, agents, offices, and companies, alongside a major data expansion pushing coverage beyond 6 billion records. Model Match also introduced Market Signals, a new dataset providing visibility into mortgage activity from application through funding across roughly one in every two U.S. mortgages, along with Borrower Retention, showing loan officers where their borrowers are refinancing. The overhaul features a mobile-first design and expanded insights into real estate offices and builder activity. Model Match is committed to bringing a fresh, transparent approach to connecting real estate, mortgage, and borrower data within a single platform. Existing accounts have access today. To see what the future of mortgage intelligence looks like, start a 14-day trial.

AI has quickly become one of the most talked-about topics in mortgage, but that has not made it any easier to figure out what is actually useful. Join the Ohio Mortgage Bankers Association and LenderLogix CEO Patrick O’Brien on April 14 from 2:00 to 2:30 PM EST for The Hitchhiker’s Guide to AI in Mortgage Lending, a practical webinar focused on where AI is already creating value, how it is showing up in mortgage technology today, and how lenders can think more clearly about what matters versus what is just hype. Don’t panic. Register now.

Less than a year after launching, Brody | Gapp LLP is approaching its tenth attorney, and the firm's AI governance and fair lending practice has produced something the industry can actually use. After leading the panel on "AI, Automation, and Fair Lending" at a recent conference, Brody Gapp LLC, the firm released four free practitioner-level tools: MB Governance Guide, an AI Governance Survival Guide built around Freddie Mac Bulletin 2025-16 and Guide § 1302.8, a Fair Lending AI Risk Map addressing proxy discrimination and ECOA/Reg B adverse action exposure, and an AI Vendor Due Diligence Toolkit anchored in SR 11-7 and GSE examination expectations, for depositories, IMBs, credit unions, and brokers, the kind of document most institutions know they need and haven't built yet.

Don’t forget that Brody | Gapp LLP has both the "AI in the Workplace: Acceptable Use Policies, Data Risk, and the Discovery Trap", and the Repurchase Defense Article.

Last Word: today Friday, April 3, at 10AM PT. The weekly roundtable breaks down market signals, agency developments, and where the industry got it right and wrong. The discussion focuses on separating real insight from reaction as conditions continue to shift.

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.

Lender-builder partnerships are alive and well

_________________________________________________

Silverton Mortgage announced a new partnership with Oakwood Homes. “As Oakwood Homes’ partner lender, Silverton opened three new offices to support Oakwood’s homebuyers, expanding Silverton’s brick-and-mortar footprint into the Colorado and Utah markets. “Oakwood Homes is known for building homes that balance quality, design, and attainable homeownership across the markets it serves. With a focus on creating strong neighborhoods and long-term value for homeowners, Oakwood emphasizes thoughtful planning, energy efficiency, and customer experience throughout the construction process… Silverton’s main operations to support Oakwood are based in Lafayette, Colo. Additional offices are located in Colorado Springs and St. Murray, Utah.

Investor changes focused on Agency products continue

_________________________________________________

AmeriHome Mortgage is accepting Selling Guide policy changes per Fannie Mae SEL-2026-02 and Freddie Mac 2026-3. See AmeriHome Product Announcement 20260306-CL.

AmeriHome Mortgage 20260304-CL Operations Announcement provides a summary of AmeriHome pre-purchase and quality-control loan review findings for Q’4-2025. The review results identify emerging trends and the most common findings.

Newrez Correspondent updated Underwriting Guidelines on Conforming loans, Government loans, and Smart Series including Product Summary.

Pennymac updated Conventional LLPAs effective for all Best-Efforts Commitments taken on or after Tuesday, February 24. See Announcement 26-22 for details

Pennymac updated Conventional LLPAs effective for all Best-Efforts Commitments taken on or after Thursday, February 26. View Announcement 26-23 for more details.

AmeriHome Mortgage announcement 20260203-CL outlines overlays attributed to Fannie Mae SEL-2026-01 announcement.

Pennymac updated Conventional LLPAs effective for all Best-Efforts Commitments taken on or after Thursday, March 12, 2026. View Announcement 26-26 for more details.

Freddie Mac announced updated eligibility requirements for the Home Possible mortgage program. These changes are effective with new loan applications dated on and after April 12, 2026; Pennymac is aligning with these changes as described in Announcement 26-27.

Capital markets: war news dominates the markets

_________________________________________________

President Trump’s address Wednesday night was “rates negative,” dampening hopes for near term de-escalation of the war in Iran and signaling continued military action over the next 2–3 weeks. The result was higher oil prices, a sell off in Treasuries, and a partial reversal of the recent bond rally, driven more by inflation risk than growth optimism. Forget about the Federal Reserve cutting rates, although if it does, it will be because our economy needs stimulus.

The U.S. economy is facing several potential risks which could impact home financing demand, including surging oil prices due to the Strait of Hormuz closure, which could drive Brent crude to $200 per barrel. Economists seem pretty calm, citing the US's reduced oil dependence and futures markets predicting a price drop. Another risk is the stress in the private credit market, which could spread to banks and the broader economy if companies struggle to secure financing. Additionally, the AI boom, which has driven economic growth, may face challenges due to capital constraints and energy issues. But hey, people still need a roof over their heads!

Markets are increasingly torn between inflation and growth narratives as geopolitical tensions drive volatile swings in oil prices and Treasury yields. The most recent shift acknowledges that persistently high energy costs could weigh more heavily on economic growth than previously assumed. While sharp oil spikes continue to trigger short-term inflation fears and push yields higher, this dynamic has repeatedly given way to equity weakness and renewed growth concerns that support Treasuries, suggesting a more compressed cycle between these competing forces. Although the medium-term outlook still favors lower rates amid slowing growth, near-term risks have tilted more uncertain, leaving markets highly reactive to both geopolitical developments and upcoming data like today's payrolls report, but ultimately anchored to unfolding events in the Middle East. 

Mortgage bonds and U.S. Treasuries ended slightly higher Thursday, recovering from early losses even after global markets were shaken by rising oil prices and renewed concerns about conflict with Iran. Despite the initial anxiety, investors stabilized throughout the day, and markets bounced back ahead of the shortened Good Friday trading schedule. Mortgage rates rose again in Freddie Mac’s Primary Mortgage Market Survey, with the 30-year rate rising for the fifth straight week (now 48-basis points higher than the local 5.98 percent low in February). For the week ending April 2, the 30-year and 15-year rates rose 8-basis points and 2-basis points to 6.46 percent and 5.77 percent, respectively, though they are still 18-basis points and 5-basis points lower from a year ago, with the 15-year rate highest since last July.

Agency mortgage issuance rebounded sharply in March, surpassing $116 billion, the strongest March since 2022. This continues a nearly two-year streak of annual growth, driven largely by a surge in refinancing activity, particularly on the conventional side. Refi-driven supply expanded dramatically year-over-year, while purchase activity remained relatively flat. Loan production also showed meaningful gains, signaling a broader recovery in origination volumes, with issuance concentrated in mid-coupon pools like 5.0 percent and 5.5 percent as rates move higher. However, the recent rise in mortgage rates tied to geopolitical tensions is expected to dampen refinancing momentum in the near-term, potentially slowing this supply surge, while the recent dominance of conventional issuance has also begun to temper Ginnie Mae’s previously rising market share.

Today’s (Good Friday) economic calendar, with the stock market closed but the bond market open, brought the “all-important” March payrolls report. Headline payrolls were +178k versus 45k expectations and -92k previously, although there was a large back-month revision. The unemployment rate came in at 4.3 percent when it was expected to remain steady at 4.4 percent. Wages were +.2 percent, for the year +3.3 percent. Overall the numbers showed a solid labor market, allowing the Fed to concentrate on inflation which is bad.

Later today brings Final March services PMI from S&P Global, and SIFMA recommends an early close for bonds at noon. After the employment data, and with the overnight political and war news, we have Agency MBS prices worse about .125 from Thursday’s close, the 2-year yielding 3.85, and the 10-year yielding 4.35 after closing yesterday at 4.31 percent, down 9 basis points over the course of the week.

On Easter morning a man and his son run over the Easter bunny! They leap out of the car, and the son immediately cries, "Daddy! You killed the Easter bunny!"

The man thinks to himself and then says, "Don't worry, I know exactly what to do."

He goes to the trunk of the car and produces a spray can. He shakes it up and sprays the dead Easter bunny with it.

After a few minutes the Easter bunny pops up to its feet, grabs its basket, and hops down the road before it stops to turn around and wave. It hops a little bit more and then turns around and waves again. It keeps repeating this until it hops out of sight.

The son exclaims "Daddy! What was that!?"

The dad shows his son the can. The label reads "Hair spray: brings new life to hair, gives permanent wave."

Visit www.ChrismanCommentary.com for more information on our industry partners, access archived commentaries, or subscribe to the Daily Mortgage News and Commentary. You can also explore the Chrisman Marketplace, a centralized hub connecting mortgage professionals with trusted vendors and solutions. If you’re interested, check out my periodic blog on the STRATMOR Group website. This month’s piece is titled, “Mortgage Rates Are Not Random.”  The Commentary’s podcast is available on all major platforms, including Apple and Spotify.

qoɹ

(Market data provided in partnership with MBS Live. For free job postings and to view candidate resumes, visit the Chrisman Job Board. This newsletter is intended for sophisticated mortgage professionals only. There are no paid endorsements by me. For the latest mortgage news, visit Mortgage News Daily. For archived commentaries, or to subscribe, go to www.ChrismanCommentary.com. Copyright 2026 Chrisman LLC. All rights reserved. Paid job & product listings do appear. This report or any portion hereof may not be reprinted, sold, or redistributed without the written consent of Rob Chrisman. The views and opinions in this newsletter are mine alone unless otherwise specifically stated herein.)