Feb. 6: Non-QM AE, LO jobs; BBYS, servicer risk, verification tools; Non-Agency news; why mortgage rates are sticky; Rocket/Redfin ad

“Going to bed early, not leaving my house, not going to a party… my childhood punishments have become my adult goals!” Is one of your goals to live to be 100 years old? Alan Greenspan, the 13th chairman of the Federal Reserve (1987 to 2006), turns 100 in a month. As we know, the Federal Reserve currently finds itself, and its independence from politics, in the crosshairs of legal and political maneuvering. The Trump Administration asked the Supreme Court to allow it to fire Federal Reserve governor Lisa Cook. The Court decided to hear the case, setting up a high-stakes test of President Donald Trump’s quest for greater control of the central bank and its unparalleled role in steering the U.S. economy. The Supreme Court has “signaled” that it will defy Trump, and Ms. Cook will remain in her post. She spoke this week at the Economics Club of Miami about U.S. monetary policy and the economic outlook. She noted the overall condition of the U.S. economy is "solid" but expressed frustration with inflation, which she said seemed to have stalled in 2025 compared to years prior. While she said she was optimistic that inflation will continue to get closer to the desired two-percent mark, her optimism is tempered with caution. Other related topics discussed included the strength of the labor market as well as the impact of artificial intelligence (AI) and tariffs on the economy. (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 Rocket's Doug Buser on insights from shaping the overall fan experience at the Super Bowl, the marketing and neighborhood activation strategy leading into SBX, and Redfin’s first ad with Rocket, voiced by Lady Gaga; more below.)

Jobs

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Evergreen Home Loans™ continues to grow with purpose, expanding our footprint while staying true to who we are. Our growth is driven by innovation, strong leadership, and tools that help our loan officers stand out, like our one of a kind Security Plus Seller Guarantee®, which strengthens offers and builds confidence for buyers and sellers in any market. We grow intentionally, ensuring our people are supported every step of the way. For more than 38 years, Evergreen has invested in people first. Growth is encouraged, wins are celebrated, and fun is part of the journey. If you’re looking for a company that blends momentum, meaningful relationships, and a family-first mindset, Evergreen offers a place to build a lasting career, not just close loans. Visit here or contact Todd Miles, EVP of Production Growth, to learn more.

High-performing Non-QM Account Executives looking for more freedom and bigger upside should take a serious look at ACC Mortgage, the oldest non-QM lender in the industry. This is a well-capitalized lender with a reputation for supporting its sales team, maintaining a strong culture, and giving AEs the tools they need to stand out in a competitive market. The position is fully remote and centered on relationship development through phone and email, backed by a reliable CRM system and marketing resources that help you stay visible with partners. Pay is performance based with uncapped earnings and transition support to make your move smooth and productive from day one. If you have experience in Non-QM and are ready to build something bigger, connect with us and explore the opportunity with confidence and confidentiality.

In the Northwest and California, Banner Bank is searching for Mortgage Loan Officers looking for a diverse product group to create lasting client, Realtor and builder relationships. At Banner you have Portfolio lending, Construction to Perm financing, Fannie, Freddie, FHA, VA, and USDA along with equity products for HELOC, bridge financing and Lot Loans to serve your clients. Banner has opportunities for lenders looking to create or build onto their career with support for homebuyer education, CRA lending (state bond and Portfolio) as well as access to internal and external DPA to add value to your eligible clients and make more loans possible. Banner is the right fit for an established team, or the individual looking to grow their business and take the next step in their career. Please send resumes to Aaron Miller.

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% 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.

Servicing is more complex than ever - and there’s less room for inefficiency. At this month’s MBA Servicing Solutions Conference in Dallas, First American is inviting servicers to rethink how they manage risk, compliance, and performance across the servicing lifecycle. Book a meeting with us. With trusted data, proven technology, and deep servicing expertise, First American helps servicers reduce manual work, gain clearer visibility into collateral risk, and improve decision making - without adding operational friction. If you’re focused on improving efficiency while navigating today’s regulatory environment, we’d welcome the opportunity to connect at MBA Servicing. Schedule your meeting now.

Leading wholesale lender Flyhomes is helping save money on origination fees on Buy Before You Sell with Instant Equity 1st lien loans. Whether your borrowers want to unlock home equity early or eliminate monthly payments on their departing home, Instant Equity can help them move into their next home before selling the old one. And because the fees are based on the loan amount, not the home value, borrowers can save up to 80 percent compared to other options. Over the past 10 years, Flyhomes has helped 5,000+ buyers move into their next home. On average, LOs close 1.2 more loans per month with Buy Before You Sell, now available nationwide. Book a call today to learn more or sign up for the weekly open house for a live walkthrough and Q&A.

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.

Thought leadership: rolling out new tech needs a solid path

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Mortgage technology has absorbed billions in investment, yet productivity inside lending operations has barely budged in seven years. Why? Because most tools are built for ideal workflows that rarely exist in the real world. This article digs into why “happy path” tech keeps failing, what actually drives meaningful productivity gains, and how designing for how work really happens may be the industry’s biggest untapped opportunity. The current Thought Leadership piece is about innovation and technology. Enterprise mortgage tech has spent years optimizing the happy path while real productivity gains get lost in exception handling. Truework founder Ethan Winchell argues the fix is not more data but better orchestration and tighter user driven iteration where work actually happens.

Non-Agency products: no originator wants to turn away a borrower

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As part of the Foundation Fridays broker education series, join Foundation Mortgage Corp. on February 6 at 2 PM ET for Turning Challenges into Closings: Non-QM Opportunities in Today’s Market. Featuring Sam Bjelac, Alexander Inda, and Joseph Inda, this session is built for brokers navigating tighter underwriting and more complex borrower profiles. The team will walk through real-world case studies, highlight high-demand programs such as DSCR, Bank Statement, and Foreign National loans, and share practical, compliance-friendly talking points you can use immediately. Designed for today’s market, this webinar shows how to turn stalled files into funded deals using a common-sense approach.

“Yes, Symmetry offers NOO HELOCs! We offer HELOCs on investment properties in both first and second lien positions, providing a powerful alternative to traditional loans. This solution works especially well for investors because it offers the flexibility needed to manage multiple properties, access available equity when needed, and maintain control through additional repayment options. During the draw period, borrowers can take advantage of interest-only payments plus an annual fee, along with an open-ended line of credit structure that allows them to reuse available funds as needed. The product is ideal for cash-flowing rental portfolios and features simple draw access and competitive rates. Whether your client is expanding their rental portfolio or looking for a smarter way to tap into existing equity, our HELOC gives them control with speed and ease. Let’s talk about how this can fit into your borrowers’ investment strategy. Symmetry Lending.”

“Have you heard about eRESI’s Non-QM Heroes campaign? We’re celebrating the non-QM professionals who are driving change and leading innovation across the industry. Know a non-QM Hero on your team? Nominate them using this form and highlight their impact. You’ll both receive exclusive non-QM Hero swag, plus a chance to win Meta Glasses and be featured in our Non-QM Hall of Fame. eRESI is proud to sponsor the HousingWire Housing Economic Summit (Feb 10, Dallas) and MCT Exchange 2026 (Feb 12–13, San Diego), where Lisa Schreiber will speak on the “Expand Beyond Agency Production” panel. Connect with our team on-site to learn how our best-in-class execution helps lenders drive reliable, scalable growth. Can’t attend in person? Join our February 18 webinar: our credit team will explore key non-QM scenarios that help lenders deliver the best solutions to their borrowers. Contact us to learn more.”

Pennymac Announcement 26-08. Pennymac updated Jumbo LLPAs effective for all Best-Efforts Commitments taken on or after Wednesday, January 28, 2025. For details, view Pennymac Announcement 26-08.

Effective for all Best Efforts Commitments taken on or after Thursday, January 29, 2026, Pennymac updated Non-QM LLPAs as shown in Pennymac Announcement 26-09. 

Citi Correspondent Lending recently rolled out expanded credit parameters for their Non-Agency Jumbo program, the first in a series of planned 2026 strategic initiatives. These changes are effective for new loan registrations on or after January 18, 2026. Key highlights of this expansion include increased maximum loan amounts for primary and second home transactions, and expanded cash-out limit for refinance transactions.

Newrez’s Yosemite Jumbo AUS product guidelines have been updated, effective with new locks on and after January 29, 2026. View the Newrez announcement for details.

Effective with pipeline loans, Newrez Smart Series product summary and underwriting guide have been updated.

JMAC's New Limited Docs Non-QM lets borrowers qualify using a simple Streamline WVOE. Working for family and 1099 borrowers are allowed.

Want to know what Rocket & Redfin have up their sleeve?

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For Super Bowl Sunday? Here you go. It’s a rallying cry for American neighborhoods focused on the enduring power of being a good neighbor. Apparently only a quarter of Americans say they know most of their neighbors by name. Once again, no mention of mortgages or listings.

Capital markets: slowing economy = lower rates

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U.S. Treasuries, and MBS prices but less so, staged a meaningful rally Thursday after several subdued sessions, driven by a sharp risk-off turn as weak labor data met with mounting equity market stress. Jobless claims jumped to roughly 230k, JOLTS openings fell to 6.54 million (the lowest since 2020), and Challenger job cuts surged, prompting a bull-steepening move that pushed the 2-year, 5-year, and 10-year yields below key technical levels. Equity weakness intensified, led by continued "meltdowns" in software and AI-related names following renewed concerns about the scale and cost of future AI investment, while momentum assets like bitcoin and commodities unwound and volatility spiked. Gold and Treasuries both attracted safe-haven flows, offering some reassurance after recent doubts about traditional defensive behavior, though the still-elevated stock-bond correlation leaves rally conviction muted.

Supply and demand matter, especially when it comes to mortgage prices. As PrimeLending’s Andrew Stringer astutely opined, “You might be asking yourself why pricing isn’t improving like we’d expect given how much the 10-yr has dropped. We are now back below 4.20 and yet, rate sheets aren’t responding with as much exuberance. That’s because the mortgage spread is widening again compared to the 10-year Treasury. In January, we tightened to 2.01 (Subtracting the 10-year index from the average 30yr mortgage rate). As of today, it’s now widened by about 20 basis points to 2.20. So even though the 10-year improved, MBS pricing is underperforming, and that dulls the impact on rates.”

DataQollab’s Adam Quinones weighed in, “The curve struggled not to steepen in the move (notable) and the mortgage basis lagged from the open (normal), but lenders still found room to reprice for the better. Not going to quote a par mortgage rate here but will say borrowers can expect a wider dispersion of quotes from originators in this environment. It's a yin-and-yang game between TBA price levels, spec pay ups, drops, BU/BD grids, and new prod MSR multiples. Will say recapture heavy shops are likely to ignore prepay implications and cut margins simply to retain. Others will follow but pure price taker originators with no MSR retention strategy will not benefit as much from these moves.”

Fed funds’ futures have shifted back toward pricing rate cuts beginning in June and September, reversing earlier expectations of just one cut. Meanwhile, Agency MBS lagged the Treasury rally, with the basis widening modestly as lower coupons underperformed amid heavy trading volume and persistent risk-off positioning across markets. Freddie Mac's Primary Mortgage Market Survey for the week ending February 5 showed that the 30-year and 15-year mortgage rates both rose 1-basis point from the prior week to 6.11 percent and 5.50 percent, respectively, and remain 78-basis points and 55-basis points lower from a year ago.

As announced earlier in the week, the January payrolls report has been pushed back to this upcoming Wednesday after the brief government shutdown, which leaves Michigan sentiment and consumer credit (both due out later this morning) as the only data points today. The day’s lone Fed speaker is Vice Chair Jefferson. We begin Friday with Agency MBS prices roughly unchanged from Thursday’s close, the 2-year yielding 3.48, and the 10-year yielding 4.20 after closing yesterday at 4.21 percent.

A guy goes to the supermarket and notices a very attractive woman waving at him.

She says, “Hello.”

He’s rather taken aback because he can’t place where he knows her from.

So, he asks, “Do you know me?”

To which she replies, “I think you’re the father of one of my kids.”

Now his mind travels back to the only time he has ever been unfaithful to his wife.

So, he asks, “Are you the stripper from the bachelor party that I made love to on the pool table, with all my buddies watching?”

She looks into his eyes and says calmly, “No, I’m your son’s teacher.”

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.)