May 5: LO, AE jobs; Ginnie guide, borrower marketing, e-note products; AI webcast; Advocacy Week approaching

Today is not the Mexican equivalent of the 4^th 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 reclaimed Puebla a year later) but a symbolic one because a small Mexican army defeated a larger occupying force. By 1867, Mexican troops had driven France from the country. Cinco de Mayo is not Mexico’s Independence Day (September 16) which commemorates the Grito de Dolores, a priest’s ringing of a church bell in the town of Dolores in 1810 that triggered Mexico’s War of Independence from Spain. Mexico is just one of twenty Hispanic countries, and lenders know that the rise in overall Hispanic home ownership in recent years played out in first-time home buyer numbers and many have “diversity” departments that encompass many lending facets including minority homeownership. Viva la Raza! (Today’s podcast can be found here and this week’s ‘casts are sponsored by FirstClose, which provides fintech solutions to HELOC and mortgage lenders nationwide. Their home equity lending platform accelerates the home equity lending process, reducing application to closing times from 45 days to less than ten. Today we have two separate interviews, one with Figure’s Anthony Stratis (on the home equity lending space) and the other with Verus’ Dane Smith (on innovative loan products).

Employment and transitions

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“What does real producer success look like? At Atlantic Bay, it looks like growth, consistency, and longevity. In 2025, 37 percent of our Mortgage Bankers closed over $20 million, average production per Mortgage Banker was $22 million a year, and average tenure across our current Mortgage Banker roster is 7.5 years. Those numbers reflect more than strong performance. They reflect a company that helps producers grow their business and income while creating an environment where they want to stay. With strong leadership, a One Team approach, and a culture that supports both production and life outside of work, Atlantic Bay is built for long-term success. Schedule time with Travis Jones to see what that could look like for your business.”

“EPM is experiencing record-breaking growth in 2026 and is actively looking to bring on 50 new Account Executives over the next 12 months. EPM is one of the fastest-growing wholesale lenders in the United States, built on a mission of helping homeowners realize the American Dream. Ideal candidates are driven, experienced AEs ready to plug into a platform with real momentum and the support to match. We are also entertaining teams looking for a new home. This is a rare opportunity to join an organization that is scaling rapidly and investing heavily in its people. If you are ready to align yourself with the fastest-moving name in wholesale lending, now is the time. For confidential consideration, please email us.”

“Build your Mortgage Loan Officer career with FourLeaf Federal Credit Union: FourLeaf Federal Credit Union (FourLeaf) is the largest credit union in New York and the 15th-largest in the nation* and we continue to grow throughout the northeast! Thanks to our industry-leading product suite, Digital Home Lending capabilities, and exceptional member service, experienced Mortgage Loan Officers can expand your business. To learn more or start the conversation today, email FourLeafLendingOpportunity@fourleaffcu.com. About FourLeaf: FourLeaf has been committed to the financial well-being of our members for almost 85 years. Through our full range of competitive savings and loan products, you can trust us in every step of your financial journey. *Source: Callahan Associates, September 2025.”

You’re invited to learn how Fairway Home Mortgage supports loan officers and branch managers in building successful, sustainable mortgage careers. Tuesday May 12^th at 12est/11cst, 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: Fairway Virtual Fairway Day for May.

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.

Broker and correspondent products

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NFTYDoor, an end-to-end digital HELOC platform, is now operating as a fully independent company, enabling direct partnerships with wholesale brokers and private label correspondents. Brokers are already active on the new structure, submitting applications and closing loans today with no waiting period supported by NFTYDoor's combination of AI-powered origination and real people on every loan. Key enhancements include minimum FICO reduced from 640 to 600, maximum CLTV increased from 80 to 90 percent, maximum loan amount increased from $500,000 to $750,000, borrower rates reduced by 100+ bps, increased partner compensation, and a fully embedded no-cost warehouse line for private label partners. Available exclusively to partners contracting directly with NFTYDoor. Get started at nftydoor.com/partner-application.

Peak season calls for peak financing, and Logan Finance is helping mortgage brokers close more deals for their highest-earning self-employed clients with the Open Road Elevated Bank Statement program. Using 12 or 24-months of bank statements (personal, business, or both), the Elevated program qualifies borrowers up to $5.0M with a 740 minimum FICO, up to 65% LTV, interest-only options on 30-year terms, and primary, second home, and investment occupancy all eligible. Logan’s team will be at the MBA National Secondary & Capital Markets Conference. Book time at MBA Secondary with Logan here, or contact bizdev@loganfinance.com to learn more. Logan Finance Corporation, NMLS #127722.

“Veterans deserve a lender who knows their VA loans. This May, Kind Lending is honoring Military Appreciation Month with 25 basis points improvement on VA purchases because talk is cheap and pricing isn't. We manually underwrite government loans, accept 580 FICO with no DTI overlays, offer no credit score programs through non-traditional credit, and have the joint VA loan expertise most lenders don't. Purchase only. Valid May 1–31, 2026. Contact your Kind AE to learn more! Not an approved partner? Let’s change that! Join the Kind movement here.

Lender and broker products, software, & services

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Navigating the New Frontier of TRID Reform: The March 2026 Executive Order is shifting the industry toward "materiality-based" standards, prioritizing consumer clarity over rigid technicalities. On May 21st, join Cotality and TRID expert Joe Kolar (Partner at Orrick) to explore how this "cure-first" model and the push for e-note standardization will streamline your origination. We’ll break down the latest Regulation Z amendments and the roadmap to a digital-first pipeline. Don’t just react to these changes. Understand how to turn them into a definitive operational advantage. Register now.

“In today’s complex lending environment, financial institutions face increasing regulatory demands while striving to deliver exceptional customer service. Servbank, the nation’s premier bank subservicer, helps lenders navigate these challenges by streamlining operations, reducing costs, and enhancing the customer experience. Our proven subservicing solutions allow you to stay focused on what matters most: growing your business with confidence. Discover how Servbank can support your goals.”

The most forward-thinking lenders are streamlining how their teams originate and close loans. By embracing automation and advanced capabilities across their loan lifecycle, they're scaling operations without compromising loan quality or compliance. See how leading lenders are transforming their operations with Encompass®. Explore their stories.

Headed to MBA’s Secondary & Capital Markets Conference? So are we, and we’re bringing more than business cards. Arrive Home and Mountain West Financial are helping lenders unlock more approvals, more options, and more momentum. Whether it’s down payment assistance or fresh paths to homeownership, our programs are built to help you say “yes” a little more often. Grab time with Matt Pettit and Shawn King while you’re there… We promise a conversation worth having (and maybe your next best product idea).

Your customers are ready to talk. But are they talking to you? Most originators are leaving opportunities on the table, not because they don't care, but because there aren't enough hours in the day. Total Expert’s Customer IQ changes that. Joe Welu sat down with HousingWire to discuss Total Expert’s latest platform evolution, which uses contextual data and AI agents to identify high-value opportunities, engage them at scale, and bring originators into the conversation at the right moment. The results? Lenders see up to 4x more loan applications. When you understand "the why" behind your customers' financial choices, you can engage them with empathy to build lasting loyalty and grow a sustainable lending business far beyond 2026. Watch the full conversation.

Ginnie Mae requires issuers to ensure their document custodians are compliant with Ginnie Mae’s Mortgage-Backed Security Guide. While the requirement itself is well known, issuer responsibility is often misunderstood. Even when the document custodian is being reviewed, issuers remain accountable for scope, timing, and alignment with Ginnie Mae guidelines. When those expectations are unclear, reviews can become more disruptive and higher risk than necessary. To help issuers navigate this requirement with confidence, Richey May published a short overview that outlines the expectations, where document custodian reviews commonly go off track, and how issuers can simplify execution. Read: What Issuers Are Responsible for and How to Simplify the Process. Contact info@richeymay.com with any questions or to sign up for a review.

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.

Web shows of note today and tomorrow

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Today is the Advisory Angle at 2PM ET, powered by STRATMOR Group. Sue Woodard, Garth Graham, and Will Ayer break down what effective AI adoption actually looks like in mortgage. The conversation focuses on combining human expertise with technology to drive real results while avoiding common pitfalls.

Tomorrow (Wednesday) is Mortgage Matters at 2PM ET, powered by Lenders One. Robbie and Rob Chrisman are joined by Owen Lee, CEO of Success Mortgage Partners and 2026 MBA Chair Elect, to discuss leadership and growth in today’s market. The conversation explores scaling, advocacy, and what it takes to lead through changing cycles.

Also tomorrow is The AI Show at 3PM ET, powered by JazzX. Becca Seward, Brooke Anderson-Tompkins, Jagjit Singh, Mike Hogan, and Tela Mathias come together for a brand-new Chrisman Commentary Show to separate hype from reality in AI adoption across mortgage. The discussion explores governance, vendor risk, underwriting use cases, and what lenders need to operationalize now.

The Big Picture is Thursday, May 7, at 3PM ET. Rich Swerbinsky and Rob Chrisman are joined by Tammie Gravlee, Melanie Coulton, and Deb Jones to discuss leadership and production in today’s environment. The conversation focuses on what is driving consistent performance and how teams adapt to market shifts.

Advocacy: if you don’t say speak up, who will?

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Brian Vieaux, President, MISMO, wrote in with an “LO VieauxPoint.” May 11 marks the start of Advocacy Week across our industry. It’s a good reminder of something we don’t talk about enough. Participation. The Mortgage Action Alliance (MAA) has about 50,000 members. That sounds strong, until you consider there are 300,000+ professionals in housing finance. That means less than 15 percent of us are engaged in advocacy. Policy decisions directly impact how we serve borrowers, that number should be higher. Lawmakers pay attention to scale, listening to large, organized groups speak with a unified voice. MAA is free, non-partisan, and takes less than five minutes to join. Once you’re in, you’ll receive Calls to Action on issues affecting our industry. Each one comes with a prepared message you can review, personalize, and send directly to your elected officials. A few clicks, and your voice is heard. You can register for MAA here. If you’re interested in activating MAA within your organization, reach out to Jamey Lynch. The strength of our industry’s voice depends on participation. Right now, we’re at 15 percent. We can do better. #VieauxPoint” Thank you, Brian.

STRATMOR’s Consumer Direct Workshop

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Consumer Direct isn’t getting any easier. Between tighter margins, more informed borrowers, and relentless competition, lenders are being forced to rethink what actually drives performance. That’s exactly the focus of STRATMOR’s upcoming Consumer Direct Workshop, where consumer direct mortgage leaders and STRATMOR experts will share what’s working right now, from marketing and conversion to borrower engagement and call center effectiveness. This virtual workshop is for lenders only and will take place May 19-20, 2026. Split into two, 90-minute sessions, it’s a candid, data-driven workshop (and one of STRATMOR’s most popular events), with plenty of practical takeaways for lenders looking to sharpen their edge in today’s market. Learn more and register now.

Capital markets: little progress in oil returning to “normal”

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The mainstream press talks about Treasury yields, but we’re more focused on MBS, right? Agency mortgage-backed securities (MBS) had a surprisingly strong April, posting modest gains despite geopolitical tensions and inflation concerns, helped largely by seasonal trends and a sharp drop in market volatility. Investors shifted toward longer-duration bonds, boosting 30-year Fannie Mae and Ginnie Mae securities, while shorter-term MBS lagged. Overall performance for the year has improved compared to 2025. Demand remained steady with solid issuance and continued support from institutions like Fannie Mae, even as spreads tightened to slightly expensive levels. Looking ahead, seasonal momentum may continue, but persistent inflation risks and uncertainty tied to geopolitical developments are likely to keep the Federal Reserve cautious, favoring a defensive approach focused on shorter durations and capital preservation.

Heightened volatility in oil and the resulting sell-off in Treasuries to open the week were driven by a fresh wave of Iran-related headlines, including comments from President Trump about guiding ships through the Strait of Hormuz, confirmed U.S. naval escorts, and conflicting reports of military engagement. Markets are increasingly interpreting these developments not as progress toward de-escalation but as evidence of a prolonged disruption, keeping upward pressure on energy prices and reinforcing persistent inflation risks. This is making it difficult for Treasury yields to decline meaningfully, even as economic data remains relatively firm and the Federal Reserve maintains a patient, "wait-and-see" stance.

Yes, rates remain range-bound but tilted higher as geopolitical uncertainty continues to dominate the narrative. Yields are now pressing against key technical levels, particularly in the long end of the yield curve (10-year Treasury notes at 4.5 percent, anyone?) though any breakout higher may prove temporary as markets balance strong economic data, looming Treasury supply, and elevated equity valuations that continue to ease financial conditions. With the Federal Open Market Committee showing no urgency to cut rates and inflation pressures building, absent a clear de-escalation in the Middle East or a meaningful shift in Fed expectations, markets appear stuck in a holding pattern, with geopolitical headlines and incoming labor data likely to dictate the next directional move.

Today’s economic calendar kicked off with the March Trade Balance (-$60.3 billion from -$57.3 billion previously). Later today brings Final April S&P Global U.S. Services PMI, April ISM Non-Manufacturing Index, February New Home Sales, March New Home Sales, and March Job Openings. There are short-term Treasury bill auctions, including an 8-week bill, but these are much less market-moving than the coupon auctions (3s/10s/30s) coming next week. We begin the day with Agency MBS prices .250-.375 worse than yesterday’s close, the 2-year yielding 3.93, and the 10-year yielding 4.42 after closing yesterday at 4.45 percent.

Most people don’t know that in 1912, Hellmann’s mayonnaise was manufactured in England. In fact, the Titanic was carrying 12,000 jars of the condiment scheduled for delivery in Vera Cruz, Mexico, which was to have been the next port of call for the great ship after its stop in New York. This would have been the largest single shipment of mayonnaise ever delivered to Mexico. But as we know, the great ship did not make it to New York. The ship hit an iceberg and sank, and the cargo was lost forever.

The people of Mexico, who were crazy about mayonnaise, and were eagerly awaiting its delivery, were disconsolate at the loss. Their anguish was so great that they declared a National Day of Mourning, which they still observe to this day.

The National Day of Mourning occurs each year on May 5th and is known, of course, as Sinko de Mayo.

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 & ǝᴉqqoɹ

(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.)