Feb. 5: Non-QM AE jobs; Mgt. review, BBYS, digital HELOC, non-QM products; Opinions on credit fixes; IMB underway
“I was wondering where the dish soap was. And then it Dawned on me.” Here in Utah, where the median age is 31 (versus Maine’s 45) with lots of younger families, Bed Bath & Beyond outlets were a big deal. But the chain declared bankruptcy three years ago, dissolved its physical presence, and now the name has come roaring back and is entering the mortgage biz. Yup, another competitor for lenders come July: Bed Bath & Beyond is acquiring Tokens.com “to develop a blockchain-based investment and personal finance platform” and will use tools from tZERO and integrate with blockchain firm Figure to offer services such as mortgages and renovation loans. Indeed, mergers, acquisitions, and strategic partnerships are alive and well, ranging from branches moving to talk of more headline-grabbing deals ahead. Welcome to the club, Bed, Bath, and Beyond, I think you’ll find it a confusing industry… there isn’t a lot of policy shaping selling household wares in comparison. Speaking of which, on today’s The Big Picture at 3PM ET Bob Broeksmit, President and CEO of the Mortgage Bankers Association, will be on for a candid conversation on the forces shaping housing finance policy, the happenings in Washington DC, regulatory priorities, and what lenders should expect next. (Today’s podcast can be found here and this week’s are sponsored by Truework, the one verification solution to replace in-house waterfalls. Verify any borrower with a VOIE solution that automates the entire process to quickly deliver the most accurate and complete reports with broad GSE coverage. Today’s features an interview with Truework's Ethan Winchell on the intersection of technology and use, and how designing platforms for the mortgage industry has shifted toward practical application.)
Jobs and transitions
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“NexBank, together with our amazing TPO clients, achieved record-breaking Wholesale and Non-Delegated Correspondent volume in 2025, closing out December as our best month in our bank’s history. Our success reflects our commitment to the TPO market and the growth of their businesses. To support this continued growth, we’re expanding our teams to provide even better coverage and service in 2026 and beyond. To reach additional TPOs, we are pleased to announce that Keith Geiger has joined NexBank as National Account Executive, based in Florida. Geiger is a mortgage industry veteran with nearly three decades of experience with one of the nation’s top-tier publicly held banks. Contact us to learn more about our services including Wholesale and Correspondent Lending, Warehouse Lending, Treasury Management, and Escrow Management. Restrictions apply. Subject to change. For mortgage professionals. Not intended for the general public. Equal Housing Lender NMLS672886.”
In Retail, many strong branch managers aren’t lacking ambition or talent. They’re lacking real backing. Marketing that fuels visibility. Product training that builds confidence. Clear communication. Leadership that provides direction, insight into your book of business, and a clear understanding of your market. At Planet, these aren’t promises: they’re the baseline. Planet pairs intentional leadership with a flat operating model, so decisions are fast, support is immediate, and execution keeps pace with opportunity. And unlike platforms that sell servicing and lose the customer forever, Planet retains the majority of its servicing, markets to borrowers over time, and returns them to you when they’re ready to act. Support shouldn’t be complicated. Growth shouldn’t come at the expense of your long-term business. If you’re ready for a more intentional approach to Distributed Retail, contact Matt Payan, SVP National Production Distributed Retail, at 972-898-8577.
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
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“Truework is a comprehensive income and employment verification platform that fully replaces manual in-house waterfalls and provides mortgage lenders with a single automated solution to run their verification processes. With Truework, lenders see up to 50 percent cost savings on verifications while increasing speed, accuracy, and R&W relief. We also offer free pre-approvals to help you qualify borrowers faster… only pay when we complete a file. Trusted by 4 of the top 5 lenders in the U.S., Truework is built to deliver results. Learn more.”
The next generation of borrowers isn’t waiting for you to catch up. They’ve already moved on. Trust in banks has dropped from 61.5 to 40 percent, and trust in loan officers has collapsed to just 19.5 percent, according to the March 4, 2025 NextGen Homebuyer Report. At the same time, 43 percent of Gen-Z now turn to AI tools like ChatGPT for financial insight, making it clear that AI isn’t optional anymore. On Tuesday, February 10 at 1:00 PM ET / 10:00 AM PT, join the NMP Webinar OriginatorTech Deep Dive: Boom with Angel AI or Bust with The Dinosaurs and see how top-performing MLOs are using AngelAi to win back trust and get ahead. From generating professional event sites in seconds to converting presentations into interactive websites, plus embedded e-signatures and referral rewards, AngelAi helps you meet modern borrowers with speed, accuracy, and authority. Secure your competitive edge by registering here.
What are trending credit scores, and how do they compare to legacy credit models? Join MCT’s Tom Farmer and FICO’s Alyson Finn and Sabitha Thomas for “Introduction to Trending Credit Scores for Capital Markets”, a live webinar on March 10 at 11:00 a.m. PT. This session offers a practical, capital-markets-focused look at how trending credit data may influence risk evaluation, pricing, and strategy. Attendees will learn how trending credit intelligence found in FICO Score 10T reveals insights and lending opportunities beyond point-in-time analysis, how enhanced tools and data are improving risk prediction and portfolio performance, and how next-generation credit intelligence can support more informed pricing and asset evaluation. Register for the webinar to gain insight into how forward-looking credit analysis is shaping decision-making across today’s secondary market.
“APB Wholesale’s One-Time Close Construction-to-Permanent loans are built for borrowers looking to finance construction or major renovations with a single loan and one closing. We offer full-doc, alt-doc, and DSCR options across a broad range of property types, including primary residences, second homes, and investment properties. Depending on the program, borrowers may qualify without personal tax returns or W-2s, or by using asset utilization, P&L, or Bank Statements in place of traditional income documentation. These specialized construction programs are supported by a dedicated, experienced team focused exclusively on construction-to-perm lending. Become an Approved Broker to Get Started. Visit here. APB Wholesale is the wholesale arm of American Pride Bank’s mortgage division. Equal Housing Lender. For industry professionals only. Not intended or directed at consumers. NMLS #402598”
“The IMB Conference delivered a powerful reality check: lenders can’t win by being mortgage‑only shops anymore. The real growth belongs to those who position themselves as lifelong financial partners, staying connected with borrowers long after closing. Servicing is now a strategic advantage, strengthening trust, boosting retention, and unlocking new revenue across every stage of a customer’s financial journey. Borrowers don’t stop needing financial solutions once the ink dries. With consistent engagement through servicing, lenders become the first call for home improvements, personal loans, renovations, and specialty lending. Yet too many systems were built for a single product, limiting flexibility and sending customers elsewhere. MortgageFlex changes the equation. We give lenders of any size the power to expand beyond traditional mortgages and deliver the full spectrum of financial solutions today’s borrowers expect. Next stop: MBA Servicing. Contact John McCrea!”
Did you know extreme weather events are happening more often today than they have in years prior? They are actually becoming more severe, frequent, and costly, resulting in significant financial impact for mortgage and housing professionals. For instance, insurance premiums have nearly doubled since 2014, creating cascading effects on housing affordability and introducing critical credit risks. Watch ICE's on-demand webinar, Weathering the market: the ripple effect climate risk has on the housing industry, to hear from our panel of ICE analysts as they examine the root causes of accelerating insurance premiums; delinquency correlations tied to climate events; and home price dynamics in climate-vulnerable markets. Plus, find out how ICE can help mitigate risk by providing granular climate data and actionable intelligence so you can make faster, more informed decisions before, during and after a disaster occurs. Watch now.
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.
Hallway chatter from the MBA’s IMB continues
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Independent mortgage bankers continue to keep an eye on state-level CRA requirements… a difficult argument to make given IMBs don’t accept deposits. Credit costs, and what to do about them, has become a huge topic of conversation, with many opinions and various groups squaring off against one another.
Overall, the event delivered a packed agenda blending industry insight, policy discussion, and high-impact networking. The conference opened with MBA leadership setting the regulatory and market outlook, followed by forecasts from MBA economists, advocacy-focused MORPAC events, and more. Across general sessions, attendees explored consolidation trends, technology ROI, policy developments, FHA and Ginnie Mae priorities, M&A dynamics, and the strategic bets shaping the next cycle for IMBs.
Tuesday and Wednesday featured deep-dive breakout sessions tailored to lenders of all sizes, covering non-agency growth, financial management, compliance modernization, customer retention, and strategies for small to midsize IMBs competing in a consolidating market. Peer-to-peer roundtables, GSE-focused discussions, and member engagement opportunities reinforce practical takeaways, while social events (from coastal receptions to the signature IMB party) provided a welcomed opportunity for people to see each other for the first time in several months. The conference concluded with forward-looking discussions and a recap of key insights, equipping IMBs with both strategic perspective and actionable guidance for 2026 and beyond.
In-person events through month end… the end of February is crazy!
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A good place for longer term conference planning and for organizers to post their events is to start is here for in-person events in the future.
MCT’s Exchange 2026, MCT’s client conference, is taking place February 12-13 at the InterContinental San Diego. As the Currents of Capital reshape the secondary mortgage market, this premier client conference will help attendees harness the changing flow of opportunity. Immerse in expert market analysis, innovative technology announcements, and collaborative roundtables with industry peers. Attendees can also explore learning tracks tailored to today’s evolving landscape, and connect with lenders, investors, and partners from across the country. From insightful sessions to vibrant networking events, MCT Exchange 2026 is where the future of mortgage capital markets converges.
The MBA has its Servicing Solutions conference in Dallas February 16-19.
The NMLS 2026 is in Orlando, FL and is February 17-20.
On Thursday, February 19, in New Mexico, NMMLA will present Cutting Through the Noise with Special Guest, Alan Fowler, CMB.
The TMBA offers up the Southern Secondary Market Conference, February 22–24, at the Westin Houston Memorial City in Houston, TX.
Join leading capital-markets, secondary, and mortgage finance professionals for a comprehensive, highly practical deep-dive into today’s mortgage pricing, loan sale execution, and financial management landscape. Register for School of Lock on Monday, February 23, 10:00 AM – 2:00 PM CT (Lunch Provided).
At the same time, 2/22-2/24, The Mortgage Collaborative has its “Desert Disruption” in Scottsdale, AZ!
Join NMBA, February 24–26, at Caesars Palace in Las Vegas for ELEVATE, the ultimate conference for brokers and mortgage professionals ready to explore the world of private lending. This isn’t your average mortgage event. ELEVATE brings together brokers, private lenders, and investors for three days of education, networking, and inspiration all focused on helping you grow from commissions to capital.
The Optimal Blue Summit is taking place February 23–25 at Talking Stick Resort and Conference Center in Scottsdale, Arizona. From expert-led sessions and hands-on tech showcases to curated networking with capital markets leaders, every element of the Summit is designed to give attendees a competitive edge and help them maximize profitability. Early bird registration is available for just $199. Secure your ticket today and be first to experience an event where proven mortgage expertise meets modern innovation to shape what's next.
The Northeast Mortgage Summit in Mashantucket, CT, will be February 25-26.
Capital markets: job cuts surge to multi-year highs
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There is a lot of caution without optimism over fears that artificial intelligence could disrupt business models and white-collar jobs add to broader uncertainty. Not helping matters is the delay or cancellation of labor reports due to the government shutdown. The Treasury confirmed modest increases in long-dated bond issuance yesterday. Solid ISM Services data showed steady growth alongside rising prices, while a weaker-than-expected ADP jobs report reinforced fading odds of a March Fed cut and a growing focus on June (Warsh’s first as Chairman), leaving investors biased toward slightly higher yields but still valuing Treasuries’ safe-haven role amid equity volatility.
Overnight, the Bank of England and European Central Bank were out with their latest monetary policy decisions, where both kept their respective rates unchanged at 3.75 percent and 2.00 percent, as expected. In the U.S., today’s calendar is already under way with job cuts from Challenger, Gray & Christmas for January. U.S.-based employers announced 108,435 job cuts in January, an increase of 118 percent from the 49,795 cuts announced in the same month last year. It is up 205 percent from the 35,553 job cuts announced in December. January’s total is the highest for the month since 2009, when 241,749 job cuts were announced. It is the highest monthly total since October 2025, when 153,074 cuts were recorded.
We’ve also received weekly jobless claims (231k, 1.844 million continuing), with Tuesday’s previously delayed JOLTS job openings for December due out shortly. Treasury activity today will be headlined by a buyback in 20-year to 30-year coupons for up to $2 billion. Freddie Mac will release its Primary Mortgage Market Survey. We begin Thursday with Agency MBS prices better by about .125 from Wednesday’s close, the 2-year yielding 3.52, and the 10-year yielding 4.25 after closing yesterday at 4.28 percent after the job cuts numbers.
Headstone of Russell J. Larsen in the Logan City Cemetery here in Utah.
FIVE RULES FOR MEN TO FOLLOW FOR A HAPPY LIFE:
1. It's important to have a woman who helps at home, cooks from time to time, cleans up, and has a job.
2. It's important to have a woman who can make you laugh.
3. It's important to have a woman who you can trust, and doesn't lie to you.
4. It's important to have a woman who is good in bed, and likes to be with you.
5. It's very, very important that these four women do not know each other or you could end up dead like me.
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, “Helping Borrowers in a Market Defined by Complexity and Change.” The Commentary’s podcast is available on all major platforms, including Apple and Spotify.
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(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.)