“Many people told Beethoven that he would never be a musician because he was deaf. Did he listen?” This week hundreds of mortgage bankers descend on Washington DC for the annual advocacy conference organized by our MBA, and they hope that those in Congress listen. The Consumer Finance Protection Bureau will certainly be a discussion topic. The CFPB being minimized leaves a vacuum which, it is believed, will fall back on the states. Another topic will be how applicable is the Community Reinvestment Act (CRA) for lenders that don’t accept deposits, like IMBs? Back in the lending trenches, LOs are focused on connecting with borrowers, especially previous borrowers where the servicing has been sold. Today on Now Next Later, join Sasha and Jeremy for 30 minutes as they chat with Skye Laudari, CEO of Crib Equity, about how the platform is helping mortgage companies connect with more homebuyers, particularly in high-cost areas like California. They’ll dive into how Crib Equity benefits first-time buyers and mortgage loan officers, offering a fresh approach to homeownership. (Today’s podcast can be found here and this week’s is sponsored by Figure. Figure is shaking up the lending world with its five-day HELOC, offering borrower approvals in as little as five minutes and funding in five days. Lenders, give your borrowers an experience they will rave about. On today’s hear an interview with Polunsky Beitel Green’s Marty Green on tariff impacts as they pertain to the Fed’s decision making moving through 2025.)

Products, Software, and Services for Lenders

Still chasing down credit card payments like it’s 2006? Fee Chaser automates upfront fee collection. Borrowers get a secure link, you get paid faster, and no one has to awkwardly ask for money over the phone. Fully integrated with Encompass® by ICE Mortgage Technology™. Stop chasing. Start collecting.

Scientists believe there have been at least five major ice ages, each ending when sunlight warmed temperatures enough to melt the ice. Lenders feeling frozen by their LOS are turning to the bright and welcoming light of Dark Matter Technologies to avoid forced upgrades, rising renewal costs, and a lack of vendor responsiveness. The Empower LOS from Dark Matter puts lenders in control with exception-based processing that automates routine income and asset validation, cuts down on tedious quality control reviews, and streamlines underwriting workflows. The Empower LOS is built for efficiency and scalability so lenders can close more loans and reduce costs. Switching is easy, since the Empower LOS is designed with smooth transitions in mind. Lenders ready to future-proof with a flexible LOS that also warms the heart need look no further than the Empower LOS.

Free ebook: “Winning Agent Business: The Lender's Guide to a Strong Referral Network in 2025.” In today’s volatile market, a steady stream of referrals means the difference between maintaining a pipeline and scrounging for leads. And as we move towards market recovery, a robust book of business will serve as an invaluable tool to take full advantage of profitable opportunities. Real estate agents still hold the keys to the referral kingdom. To create this eBook, Maxwell interviewed agents and broker-owners across the country. The result is firsthand advice to help you better network to create a strong funnel of referral leads. Click here to download “Winning Agent Business: The Lender's Guide to a Strong Referral Network.”

Power Up Your Pipeline with LoanStream’s April Specials! Price improvements up to 60 BPS on FHA/VA, Up to 125 BPS on Non-QM (when combined with select) For loans locked April 1st through 30th, 2025. Non-QM Specials: 25 BPS Price Improvement on Standard, includes all Doc Types, Seconds. FHA/VA Specials: 25 BPS Price Improvement on Standard, includes All FICOs, DPA, Standard Balance, High Balance. Terms and conditions apply, contact your AE! April 2025 Specials LoanStream Wholesale - Wholesale Mortgage Lending - Plus, sharpen your skills on Bank Statement calculations, join info packed webinar to learn abut this great tool and resources to help you reach more clients! April 2025 Specials LoanStream Wholesale - Wholesale Mortgage Lending.

The real estate and mortgage market is in a constant state of flux, with even more change expected in 2025. Just recently, Freddie Mac announced it is discontinuing Home Value Explorer® (HVE®), for external use, effective July 31, 2025. HVE will continue to play an integral role in Freddie Mac’s business, powering its risk assessments. If your organization uses HVE today or another AVM, now is the time to ask: Are my current valuation tools meeting my needs? Is there room for improvement? Should I find a replacement solution? Whatever the answer may be, ICE is here to help. Attend a complimentary webinar, Industry changes require advanced property valuation tools, on Tuesday, April 15 at 1 p.m. ET to learn about the potential impact of the Freddie Mac HVE announcement and how ICE’s reliable, objective and consistent valuation solutions can help drive your business forward in any market condition.

Events and Training Opportunities

A good place for longer term conference planning is to start is here for in-person events in the future; and organizers can post their event!

Attend MBA’s National Advocacy Conference (NAC) tomorrow and Wednesday at the Capital Hilton in Washington, D.C. Join hundreds of industry advocates to meet with and educate policymakers on issues impacting your businesses and customers. MBA offers special rates for members of MBA’s young professionals’ network (mPact), the Certified Mortgage Banker (CMB) Society, and group rates for MBA member companies as well. Yup, if you’d like to spend some time advocating for our biz in early April, here’s the MBA’s NAC25 registration!

Logan Finance is offering up a Non-QM Road Show at the Omni Hotel in Frisco, Texas from 9:30am to Noon CT, on Wednsday. Stop by and say hi if you’re in the Dallas area.

Next week, Credit Union Lending Leadership Conference! CU:REALM is heading to San Diego on April 14th and 15th for our most dynamic event yet. Join industry trailblazers like Selma Hepp and Peter Benjamin, and Rob & Robbie Chrisman for an agenda packed with networking, collaboration, and thought-provoking discussions tailored for Credit Union Mortgage Leaders. Don’t miss this opportunity to elevate your expertise: contact Jim Labbé to learn more and secure your spot!

Join MBA St. Louis for an upcoming lunch meeting, Wednesday, April 16th, 11:30 AM to 1:30 PM at Bogey Hills Country Club. Listen to an exclusive market update from the local Home Builders Association (HBA) board. Industry leaders will share insights into current trends, challenges, and opportunities shaping the homebuilding landscape.

Join MBA St. Louis for an exclusive market update from the local Home Builders Association (HBA) board at the upcoming St. Louis MBA event. Industry leaders will share insights into current trends, challenges, and opportunities shaping the homebuilding landscape. April 16, 11:30 AM to 1:30 PM, Bogey Hills Country Club

Discover the latest advancements in artificial intelligence and its transformative impact on the mortgage industry! Join TMBA, April 17, 11:30 am - 12:30 pm, for an insightful discussion featuring top industry experts as they share cutting-edge strategies and practical applications of AI to drive efficiency and innovation in mortgage lending

Join RegCheck by Asurity and partners for a live webinar on April 23 from 2:00 PM – 3:00 PM ET - Federal Agencies in Transition: Key Changes at the CFPB and Beyond Under the New Administration. During the webinar you’ll hear from industry thought leaders as they unpack the latest updates from the Consumer Financial Protection Bureau (CFPB) and other federal agencies under the new administration and share how these developments affect businesses, consumers, and the future of regulatory compliance. Reserve your spot today!

Join TMBAs' 109th Annual Convention, a transformative experience that will ignite your passion and propel your career to new heights. From April 27-29, at the luxurious Loews Arlington Hotel, immerse yourself in a world of innovation, inspiration, and unparalleled networking opportunities.

“Not Sold on Diversity? Fine. Let’s Talk About Your Bottom Line” (April 30, 1–3 p.m. ET) will feature mortgage leaders discussing how demographic shifts are reshaping mortgage demand and how lenders can tap into underserved markets to drive sustainable growth — whether or not they choose to call it "diverse lending." Panelists include executives from Fifth Third, First Commonwealth Bank, Lake Michigan Credit Union, and others. Topics range from using MLS data to grow referral networks to practical strategies for closing gaps in minority and LMI lending. Event details and registration: https://www.iemergent.com/diversity-webinar

The Mortgage Bankers Association of Georgia (MBAG Live) fabled event will be held May 4-7 at One Ocean Resort in Atlantic Beach, FL. Register here; Early bird registration available until March 11. Hear from the likes of Laura Escobar and Bill Bodnar!

“Sagent Customer Conference preview: At our annual user conference Ignite, our customers are the celebs, and attendees are a tight knit, highly engaged bunch: 100 percent of last year’s attendees said they intend to return. This year, our agenda (based on customer input, as always) includes featured speakers, unforgettable networking events, and tailored training. Attendees will also see Dara’s end-to-end capabilities up close, including Dara Core, which offers all the essential tools for daily servicing operations. Demonstrations of the platform continue to be exclusive, so if you’re a Sagent customer who’s eager to see Dara for yourself, register here for Ignite (May 5-7, Dallas, TX) today. Until then, check out this recent episode of Chrisman Commentary for the latest updates on Dara Core.”

Asurity's fourth annual Fair Lending Forum is taking place May 7-9 in Washington, DC! The Fair Lending Forum isn’t your average industry conference; it’s the can't miss event for government regulators, lenders, compliance professionals and everyone in between. Attending will help you stay ahead of the curve with the latest trends and regulatory updates. AND... there will be plenty of opportunities to network and build valuable connections. Don't miss out! Reserve your spot today!

The NALHFA Annual Conference is coming to Minneapolis, May 12-14. From forward-thinking development to a thriving arts and dining scene, Minneapolis offers the perfect backdrop for meaningful discussions. Engage in expert-led sessions on policy, single-family and multifamily housing, and financing strategies, plus keynotes on the future of housing and homelessness solutions. Gain actionable insights, build valuable connections, and be part of the conversations shaping the industry.

If you like Manhattan, on May 18-21 there’s the MBA’s National Secondary & Capital Markets Conference which attracts both capital markets and non-secondary folks.

From June 10-12, in St. Petersburg, Florida, join MBAF’s 21st Annual Eastern Secondary Conference and 71st Annual Convention! Always well attended and informative!

There’s the National Settlement Services Summit (NS3) from October Research, LLC on June 16-18 in Pittsburgh, PA. NS3 offers three days of unmatched networking and invaluable education, where you’ll connect with your industry partners, earn CE & CLE credits, and stay current on regulatory updates and business strategies. Register today! Do you want to speak at NS3? Visit NS3TheSummit.com to submit your proposal.

In Honolulu, MBA Hawai’i is attracting nationwide talent in attendance and speaking! Watch for details about the June 17-18 event.

August 3-5, in Frankenmeuth, Michigan, the MMLA will host its annual soiree.

August 11-13, who doesn’t want to attend the fabled California MBA’s Western Secondary?

September 7 through the 10th, in Boise, Idaho, is the Pacific Northwest Mortgage conference; watch for details.

“The 2025 Loan Vision Innovation Conference is where mortgage finance leaders come to connect, learn, and innovate. Join us in Atlanta, GA, from September 22-24 for three days of expert-led sessions, real-world strategies, and networking with the best in the industry. From cutting-edge technology to efficiency-boosting insights, LVIC25 is designed to help you drive profitability and stay ahead of the curve. Don’t miss your chance to be part of the premier event for mortgage banking professionals! Register now! Rob Chrisman is back on the main stage at the 2025 Loan Vision Innovation Conference! Connect with top lenders and financial leaders shaping the future. Register now!”

The 2025 MBA Annual Convention & Expo will begin October 19 in Las Vegas.

Capital Markets

Investors were hoping that Federal Reserve chair Jerome Powell would calm nerves at an event on Friday. However, the central bank chief said that the economic impact of tariffs was likely to be larger than expected, adding that the Fed was in no hurry to act on interest rates and would wait and see how events play out.

Yup, Mr. Powell acknowledged the challenge head-on, noting the new tariffs are "larger than expected" and could lead to both higher inflation and weaker economic output, a dual threat to the Fed’s twin mandates of price stability and full employment. While Powell avoided signaling any immediate policy response, he emphasized the Fed’s cautious stance in light of the "highly uncertain outlook." With no influence over tariff decisions and limited clarity on their downstream impact, the central bank appears content to watch and wait. Still, the Fed’s hands-off posture could be tested in coming months if data begins confirming what markets are already anticipating: a slowdown that demands a more proactive monetary response.

Despite a stronger-than-expected jobs report showing the U.S. added 228,000 jobs last month, the positive labor market data was largely eclipsed by growing fears of a global trade war. President Trump’s “Liberation Day” announcement unveiled a dramatic escalation in tariffs, effectively raising the average rate from just over 2 percent to more than 20 percent. While the administration frames this move as a bold step toward revitalizing American manufacturing, near-term economic models tell a different story: predicting slower growth, rising inflation, and increased unemployment. The long-term payoff remains uncertain, but the immediate economic drag is becoming clearer. Markets, once focused on payroll gains and wage trends, are now pricing in a broader shift in sentiment as policy-driven uncertainty weighs on investor confidence.

This week brings the latest updates on retail and wholesale inflation, with more secondary data including wholesale inventories, the March budget statement (deficit), and preliminary Michigan sentiment. Treasury will auction refunding supply consisting of $119 billion 3-years and reopened 10-years and 30-years over Tuesday to Thursday. A couple of Fed governors are scheduled to speak along with numerous Fed presidents, while the minutes from the March 18/19 meeting will be released on Wednesday. Bank earnings also get underway with JPMorgan, Wells Fargo, and Citigroup scheduled to report on Friday. Regarding MBS, Class A 48-hours is on Thursday and Class B net out on Friday.

The week gets off to a relatively quiet start later this morning with the Employment Trends Index for March and consumer credit for February. Today’s lone Fed speaker is Governor Kugler. We begin the week with Agency MBS prices not much changed from Friday’s close, the 2-year yielding 3.58, and the 10-year yielding 3.98 after closing last week at 3.99 percent as the market increases its perceived odds of a Fed ease due to the impact of the tariffs.