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Jun 20, 2024

About

Rob Chrisman began his career in mortgage banking – primarily capital markets – 39 years ago in 1985 with First California Mortgage, assisting in Secondary Marketing until 1988, when he joined Tuttle & Co., a leading mortgage pipeline risk management firm. He was an account manager and partner at Tuttle & Co. until 1996, when he moved to Scotland with his family for 9 months.


He returned to the United States in mid-1997 and ran Secondary for Standard Financial, a sub-prime lender in northern California. In late 1997 Rob was hired by CrossLand Mortgage to start, and be the president of, a sub-prime company named OnCall Mortgage (a division of CrossLand). OnCall Mortgage was in existence until Wells Fargo purchased First Security Bank (the owner of CrossLand) at the end of 2000.


Rob then joined CMG Mortgage, a wholesale mortgage bank, as the Director of Secondary Marketing. In early 2003 and re-joined Tuttle Risk Management Services, Inc. TRMS (now Compass) provides mortgage pipeline risk management for mortgage companies and thrifts that seek to originate and sell loans into the secondary mortgage market. In November of 2006 Rob left TRMS to become the Director of Capital Markets for RPM Mortgage, a retail residential lender you all know, leaving there in late 2008 to focus on not only publishing a widely read daily market commentary on current mortgage events but also on his family.


He is on the board of directors of Inheritance Funding Corporation, a financial services company which advances capital to heirs, of Doorway Home Loans, of AXIS Appraisal Management, and of the California MBA. He is also a member of the Secure Settlements Advisory Board, an associate of the STRATMOR Group, and of the Mortgage Bankers Association of the Carolinas and its membership committee. Rob has provided expert witness services for mortgage and real estate-related cases, has lectured to groups around the country.


Rob holds a BS from Cal Poly, San Luis Obispo, and an MBA from UC Berkeley.

Posts (593)

May 20, 202610 min
May 20: MI, broker jobs; Strategic partner sought; TPO non-QM, vendor strategy, cybersecurity tools; NY conference talk; Fed raise coming?
Here in New York, as over a thousand of us head to airports (hopefully avoiding manholes… tragic), the mood has been pragmatic. Not overly optimistic, not somber, just realistic. No one is arguing that the war hasn’t driven up worldwide oil prices, impacting inflation and borrower psychology, impacting lending. The Mortgage Bankers Association now predicts a Federal Reserve rate hike to arrive in 2027, so any lenders or originators hoping for lower rates, well… At this point there isn’t a lot...

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May 19, 202611 min
May 19: Lead mgt., AI mgt., construction, servicing, QC products; NY conference chatter; AI governance; LO comp is in play
“I was watching Jurassic park the other day when I thought, "Not only does my son have a really stupid name, he´s also a terrible driver.” The movie’s lesson was that just because scientists and IT people can do something, doesn’t mean they should do it. ChatGPT can now connect to your bank account and see all your transactions. Any questions? Plenty. One of the discussion topics here in New York at the MBA conference is, just like every other conference, artificial intelligence, and one of...

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May 18, 202612 min
May 18: Equity tapping, appraisal job; non-QM hedging, AI processing, subservicing tools; MBA hallway talk; the CFPB lives!
We will never charge for this Commentary, but the same can’t be said for home loan closing costs or doing a mortgage in general. For those of you who like maps, here’s one of the states’ closing costs. And here’s something for companies who have training programs: New hires should check out the Business Glossary from MISMO. It covers business processes, events, calculations, documents, forms, regulations, AI terminology, and more. LOs of various ages tell me that people in their 20s not only...

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