Mar. 17: AE jobs; Commercial, eClosing, retention, processing tools; wholesaler, corresp. news; False Claims update; MISMO standards

I wonder if billionaires are insulted if someone tells them they look like “a million bucks”? Here in Las Vegas, at the ICE Experience, it’s impossible to tell who’s worth what, but we are reminded that correct data is worth a lot. In fact, data is critical… all important. The amount of data that lenders and vendors now have is incredible, and is being used to make technology and personnel decisions, on and offshore. “You can’t staff your way out of margin compression.” On the personnel side, today’s Mortgage Law Today at 2PM ET, sponsored by Polunsky Beitel Green has Brian Levy, Loretta Salzano, Melissa Koupal, and Stew Sweet having a practical discussion on the legal and operational realities of offshoring in mortgage, compliance risks, regulatory interpretations, and the controls lenders must have in place when building offshore teams. On the technology side, veteran mortgage banking attorney Brian Levy weighs in on whether AI is coming for his livelihood… and yours. His latest Mortgage Musings post explores AI's limits as a substitute for licensed legal counsel, zeroing in on the dangers of overconfident machine-generated answers in a field where being subtly wrong can cost clients dearly. (Subscribe for free here.) (Today’s podcast can be found here and this week’s ‘casts are sponsored by Ocrolus. Ocrolus is transforming the mortgage industry with AI-powered data and analytics, featuring cutting-edge tools for automated indexing, income analysis, and now automated conditioning. Ocrolus helps mortgage teams move at the speed of automation with the precision of human oversight. Hear an interview today with Ocrolus' Rebecca Seward on analyzing borrower documents and loan data to automatically generate, justify, and track underwriting conditions, while keeping human underwriters in control as the final decision-makers.)

Employment

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JMAC Lending is expanding nationally and recruiting Account Executives who want a stronger platform, broader credit box, and real earnings upside. JMAC is on a technology driven trajectory to support its wide product range – a true differentiator: industry-leading non-QM, including DSCR and Bank Statements, FHA FICOs from 500 and No-FICO options, VA, USDA, Jumbo, ITIN, and Down Payment Assistance programs. JMAC’s platform is backed by competitive compensation, responsive underwriting, modern technology, and a culture built for producers. JMAC equips AEs to win and retain meaningful broker relationships with open territories and accounts nationally. If you are growth-minded and want a platform that matches your ambition, please contact JMAC’s EVP John McElhone for a confidential discussion. JMAC: 29 years in business and growing.

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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The average person makes more than 35,000 decisions a day. Most are inconsequential: coffee or tea, paper or plastic. For mortgage capital markets teams, whose decisions shape pricing, execution quality, and risk exposure, the stakes are much higher. Fortunately, a new independent analysis from MarketWise Advisors shows Optimal Blue helps lenders make those decisions more accurately and efficiently. Lenders using Optimal Blue report an average net financial benefit of $1,006 per loan. The study also found nearly 45 percent greater operational capacity and a median 1,193 percent ROI for PPE clients, with results consistent across hundreds of customers spanning banks, credit unions, and IMBs. Turns out some decisions add up faster than others. Read the findings.

Independent mortgage bankers may be leaving money on the table, but a smarter accounts payable process can help reclaim it. Western Alliance Bank’s commercial credit card program automates AP, spending, and travel and expense management, saving time, increasing accuracy, and even generating revenue share. Robust reporting and fast reconciliation also free up staff hours for higher-value tasks. As Chris Martin, director of treasury management sales for Western Alliance Bank’s Specialized Mortgage Services Group, explains in this article, reevaluating legacy workflows can improve visibility and reduce operational friction. The Western Alliance team brings 16+ years of experience in the mortgage sector, offering warehouse lending, MSR financing, note financing, customized cash management tools and a whole loan trading desk focused on purchasing scratch & dent loans (send bid requests to SnD@westernalliancebank.com). With tailored solutions, advanced analytics and strong fraud protection, Western Alliance Bank, Member FDIC, helps IMBs improve margins and operate more efficiently.

Worried your customers will refinance with the competition? Protect your portfolio with tactical retention strategies from LoanCare. Their latest eBook, “UNLOCKING RETENTION OPPORTUNITY: How LoanCare Drives Customer Retention and Defends Client Portfolios,” breaks down how to use real-time intent signals to uncover refinance interest and when to engage eligible borrowers. LoanCare is the largest, leading subservicer without an origination operation, so they never compete for your customers. With LoanCare you can access smart retention strategies and critical tools to identify and defend against runoff risk. With solutions built to align to your goals, LoanCare operates as your servicing department, ensuring refinance prospects flow back to you, and your borrowers stay yours. Download the eBook and reclaim your full retention potential.

Now, more to discover with Docutech. Move faster with a dynamic, data-driven document generation platform built for modern mortgage origination. Docutech helps simplify document complexity while keeping loans on track from disclosure through post-closing. Docutech’s origination solutions integrate seamlessly with leading LOS platforms to generate accurate, compliant, and customizable documents. Automated rules and real-time data validation reduce errors, eliminate rework, and keep loans moving forward with confidence. Whether you’re scaling eClosings, supporting hybrid workflows, or still managing paper, Docutech meets you where you are. Flexible delivery options and built-in compliance controls help streamline operations without disrupting your process, or your pipeline. The result? Faster turn times. Fewer exceptions. A smoother borrower experience from application to close. With Docutech, originators can spend less time fixing documents and more time closing loans. Interested in learning more? Meet with the team at Booth 707 at ICE Experience 2026 in Las Vegas. You can book a meeting here.

Commercial lending is rapidly becoming one of the most predictable income streams in real estate, driven by a surge in maturing CRE debt and a tightening banking environment that is pushing borrowers toward alternative financing. Oceanview Commercial Lending has built a system that makes this opportunity accessible by providing brokers with consistent monthly leads, a marketplace of more than 6,000 lenders, and a straightforward daily workflow. With 75 leads a month, a 5–10 percent close rate, and commissions ranging from $2,500 to $25,000 per deal, brokers can generate annual incomes from roughly $225,000 to more than $1 million, depending on consistency and deal size. As $1.5 to $2.7 trillion in commercial loans come due over the next several years, demand for knowledgeable brokers is accelerating, creating a rare window for residential agents, loan officers, and new entrants to expand their business. Those interested can register for the free weekly seminar every Wednesday at 1 PM EST or schedule a one‑on‑one strategy session to explore whether the program is a fit.

Feeling lucky this St. Patrick’s Day? At eLEND, the team says the real pot of gold is continued investment in technology that streamlines operations and improves the client experience. The latest enhancements include automated disclosures, meaning when a loan file is submitted clean and complete, disclosures can now be generated and delivered automatically, helping reduce manual touches and keep loans moving faster through the pipeline. eLEND is also now fully utilizing Snapdocs to support hybrid closings. With a hybrid eClosing, borrowers can preview and electronically sign many of their loan documents before their in-person signing appointment. Notarized and title documents are still completed in person, but much of the paperwork is handled in advance, which streamlines the process and reduces time spent at the closing table. Turns out the luck of the Irish pairs nicely with smart mortgage technology. Visit elendtpo.com, call 1-800-375-6071, or email sales@elend.com (NMLS 2826) CHEERS!

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.

Financial standards, guidance, and home ownership

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Brian Vieaux, President of MISMO, recently sent me a note about the benefit of standards. “For decades, the mortgage industry has optimized everything that happens after a loan application is completed. But what if the real opportunity to improve the homebuying experience begins before the application ever starts? From application through underwriting, closing, and servicing, standards have helped create the connective tissue that allows lenders, investors, regulators, and technology providers to communicate through a common data language.

“But the mortgage journey doesn’t actually begin with the loan application. That realization sits at the center of an industry conversation taking place on the opening day of the MISMO Spring Summit in Louisville, KY (June 1–4). The interactive session is titled: Mortgage Ready: Exploring How MISMO Standards Could Transform Financial Guidance into Homeownership.

The workshop will bring together lenders, fintech innovators, housing counselors, technologists, and the GSEs to explore whether the industry should develop data standards for the homebuyer preparation stage, long before a borrower submits a mortgage application.

“Today’s prospective homebuyers, particularly NextGen first-time buyers, are preparing for homeownership earlier than ever. Many are budgeting, monitoring credit, and improving their financial readiness using personal finance tools or working with housing counselors months or even years before speaking with a lender.

“Research from the 2026 NextGen Homebuyer Report highlights how financially engaged these buyers have become. The report shows 73 percent regularly use a financial budgeting tool and 75 percent regularly monitor their credit score, demonstrating that financial preparation is happening well before the mortgage process begins.

“Millions of consumers now use personal finance platforms to connect directly to their financial data, income, banking activity, and credit information, to help determine when they may be ready to buy a home. Ironically, when these consumers are ready to apply for a mortgage, they often must start over, re-entering much of the same information already used in their financial preparation tools.

“The Mortgage Ready Workshop will explore whether standardized data frameworks could connect financial readiness to the mortgage application process, reducing friction for consumers while improving efficiency for lenders. MISMO will host a preview webinar on March 24 at 1:00 PM EST to outline the goals of the workshop and help organizations determine whether participation makes sense.” Thank you, Brian.

False Claims Act news can give you the shudders, but…

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Pete Mills, SVP, Residential Policy and Strategic Industry Engagement at our MBA, writes, “Last week, you received an item from an industry observer raising alarm that HUD may have a bevy of new FHA-related False Claims Act cases against lenders ready to be filed, contrary to the spirit of the HUD/DOJ memorandum of understanding signed during the first Trump Administration. After outreach to several leading law firms active in defending False Claims cases against lenders, we cannot confirm that this is true. None of the firms was aware of a change in posture by DOJ and HUD with respect to the False Claims Act and FHA.

“That said, it is important for mortgage lenders to understand that False Claims Act cases can still make their way into the courts through private plaintiffs/whistleblowers, even without DOJ taking up the case. We are aware of a few such cases, including one pre-dating the MOU between DOJ and HUD. So, vigilance is always warranted, but hopefully, folks can breathe a little easier.” Thank you, Pete!

Wholesale and correspondent news bits

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U.S. Treasury bonds have erased their gains for 2026 as rising oil prices linked to the Iran war push yields higher and revive concerns about inflation. Investors are scaling back expectations for Federal Reserve rate cuts as energy-driven price pressures and geopolitical uncertainty weigh on global bond markets. Once again, wholesalers and correspondent investors are either sharpening their pencils, rolling out new products based on investor demand, or engaging in M&A activity to strengthen their position. What is your company doing, and who’s doing what?

Freedom Mortgage Corporation announced that its indirect parent company, Freedom Superior LLC, has executed a definitive agreement to acquire Seneca Mortgage Servicing LLC and related entities (collectively, "Seneca") from EJF Capital LP. Seneca is an asset manager of mortgage servicing rights ("MSRs") and services the mortgage loans underlying those MSRs. The acquisition, once completed, will combine Seneca's experienced team and robust MSR portfolio with Freedom's well-honed expertise in mortgage servicing and operational excellence. Freedom intends to use the acquisition, once completed, to enhance Seneca's operational efficiency and leverage the Seneca platform to create new opportunities to grow its servicing business. Freedom also intends to build out the Seneca platform in order to create new opportunities for outside investors to invest in high-quality mortgage loan assets.

The acquisition is subject to customary closing conditions, including the receipt of all necessary regulatory approvals.

Have you heard about the new wholesale refinance offering, Newrez TitlePass? It removes the lender’s title insurance requirement on eligible refis, a move aimed at reducing closing costs and shortening timelines for borrowers. With nearly half of mortgaged properties now considered “equity rich,” according to ATTOM, this approach offers a faster, lower‑cost way for homeowners to access equity without taking on additional upfront expenses. There’s a brief media alert and blog post with more details.

United Wholesale Mortgage (UWM) announced a 75-basis points (bps) pricing incentive for eligible conventional and government refinance loans, along with a $600 appraisal credit for conventional and government purchase loans. “The 75 bps pricing incentive is available on new locks through March, while the $600 appraisal credit is available through April… Additional details on these limited-time pricing incentives can be found here.”

Foundation Mortgage launched its “Non-QM Madness” Broker Promotion, a bracket-style promotion designed to bring some friendly competition to the spring lending season! Brokers are invited to submit their tournament predictions while building their pipelines with non-QM loans. The top three finishers will receive special pricing incentive bonuses, rewarding both their picks and their production. Brokers can submit their brackets here. (This promotion is independently operated and is not affiliated with or endorsed by any collegiate athletic association or tournament organizer.)

Effective April 1, 2026, all Logan Finance commercial broker loans will be subject to a new lock requirement. This applies to any active loans currently in the pipeline as well as all new loans going forward, regardless of original submission date.

Capital markets: Fed meeting expected to be a nonevent

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Those, including most capital markets people I know, hoping for continued Federal Reserve independence breathed a sigh of relief last week when a U.S. federal judge dismissed criminal subpoenas targeting Federal Reserve Chair Jerome Powell, ruling they were intended to pressure him to lower interest rates. The decision reinforces legal protections for the Fed's independence but also underscores how the central bank's autonomy is increasingly being defended in courts rather than through longstanding political norms.

Bond markets remain tightly tethered to developments in the current global energy polemic as investors weigh whether the inflation scare driven by oil could eventually morph into a broader growth concern. Prices stabilized a little yesterday on reports that some tankers are still navigating the Strait of Hormuz and that the U.S. is working with allies to safeguard shipping lanes, prompting some short covering after weeks of defensive positioning. Even so, crude remains near $100 per barrel and the prevailing view is that geopolitical risk tied to Iran will remain the dominant macro driver for the foreseeable future. Economic data isn't going to meaningfully shift the narrative: industrial production posted a fourth consecutive monthly gain, but remained only modestly above year-ago levels, regional manufacturing sentiment weakened sharply, and housing builder confidence improved slightly but stayed subdued.

Attention now turns to central banks, with the upcoming meeting of the Federal Reserve expected to reinforce a cautious wait-and-see stance as policymakers assess the inflationary impact of rising energy costs alongside signs of slowing growth. The Treasury curve remains near recent extremes, with the 2s/10s spread around 55-basis points, while volatility has surged since the escalation in the Middle East. Mortgage-backed securities have struggled with the turbulence: 30-year Ginnie Mae pools are underperforming while shorter-duration Fannie Mae 15- and 20-year securities have held up better as investors favor lower-duration exposure and capital preservation. Separately, with the Trump administration pushing measures aimed at expanding mortgage credit through community banks and reducing regulatory barriers to housing development (efforts intended to boost supply and credit availability, but potentially lacking follow through), there’s a whole heap of uncertainty out there.

Today’s economic calendar will overwhelmingly be about Treasury supply, with the focus for those in the mortgage industry on an auction of $13 billion reopened 20-year bonds. There is just one economic release scheduled: The NAR’s pending home sales index for February, which won’t move rates and is expected to come in -0.5 percent month-over-month after registering -0.8 percent in January. The FOMC will also begin its two-day monetary policy meeting, with the statement, updated SEP, and Chair Powell’s post-meeting press conference due out tomorrow afternoon. In other central bank news, the Royal Bank of Australia raised its rates to a one-year high. We begin the day with Agency MBS prices little changed from Monday’s close, the 2-year yielding 3.66, and the 10-year yielding 4.21 after closing yesterday at 4.22 percent.

Six-year-old Lily and her four-year old brother, Fionn, were sitting together in church in Belfast.

Fionn giggled, sang, and talked out loud.

Finally, his big sister had had enough. “You’re not supposed to talk out loud in church.”

“Why? Who’s going to stop me?” Fionn asked.

Lily pointed to the back of the church and said, “See those two men standing by the door? They’re hushers.”

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.)