My cat Myrtle was always interested in both the primary and secondary markets… for line-caught halibut. In residential lending, the secondary markets shouldn’t be a mystery to anyone. Did you know that Fair Housing laws apply to the secondary markets? HUD’s overview notes that “It is illegal discrimination to refuse to purchase a loan based on race, color, religion, sex (including gender identity and sexual orientation), disability, familial status, or national origin.” In primary and secondary markets hungry for borrowers and assets like MBS, this isn’t currently a problem, so that’s good. In the secondary markets, accurate data commands a premium, whether it is borrower data, credit data, genetic data, and now… neural data, they’re all for sale. (Elon Musk’s Neuralink, brain implant tech, is considered medical technology, thus supposedly covered by HIPPA.) Repositories of mortgage, servicing, & borrower data see value in using the data and reporting the information, while worry continues to mount over non-government agency DOGE having nuclear, Medicare, Social Security, and population data for U.S. citizens. Some say, “Most have nothing to worry about” while others say, “I want my privacy.” Stay tuned. (Today’s podcast can be found here and this week is sponsored by CreditXpert, the credit optimization platform that helps today’s top mortgage originators and more than 60,000 mortgage professionals qualify more applicants, make more competitive offers, reduce LLPA premiums and close more loans. Hear an interview with American Pacific’s Audrey Boissoneau on the latest conversations that originators are having with borrowers as we enter Spring home buying season.)
Software, Products, and Services for Lenders and Brokers
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.* 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. Check out ICE’s recent webinar, Industry changes require advanced property valuation tools, 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. *HVE will continue to play an integral role in Freddie Mac’s business, powering its risk assessments.
Smarter wholesale lending starts with better data in today’s fast-moving mortgage market. Non-QM wholesale lenders face increased competition and a volatile real estate market, but opportunities abound if you know how to pinpoint them. Are you fully leveraging non-QM lending opportunities? Join us on May 6th, 2025, for our exclusive webinar, “How Non-QM Lenders are Growing Smarter in 2025.” We will demonstrate how combining precise mortgage market data and advanced CRM technology can help wholesale lenders identify high-potential brokers faster, streamline sales processes, and significantly boost non-QM loan volume. Whether you’re an executive sitting in the C-suite or an account executive on the front lines, discover how market data and CRM integration are driving smarter broker engagement and stronger results. Register today!
Calling all builders! loanDepot invites you to join us at the Builder 100 Leadership Summit, May 5–7 in Dana Point, California. loanDepot leaders will be on site to share how we work with new home builders to manage the complex mortgage lending process and ultimately help you sell more homes. Whether you’re looking for a joint venture partner, use a preferred lender, or have your own wholly owned in-house mortgage company, our mission is to empower our clients through innovative and flexible solutions tailored to your specific business needs. From delivering a best-in-class borrower experience to offering scalability through changing market conditions to ensuring compliance in a dynamic regulatory environment, working with loanDepot can help drive success for your business. That’s why we’re the partner of choice for many of the nation’s top builders. If you’d like to learn more, contact EVP of National Joint Ventures Dan Peña to schedule time with us in our hospitality suite.
“In this ever-changing market, Newrez Correspondent is here to help you weather the storm. Count on us for multiple trading options which include AOT, Agency Co-Issue, and GNMA PiiT. Our product offerings include Non-QM, Closed-end Seconds and Conforming agency/government options. A Jumbo AUS program and FHA Disaster Relief opportunity, for those in need, will be added to our product list soon. In addition, we offer a servicing released option for our Bank and Credit Union partners. Looking to improve your bottom line? Weekly training sessions are available for your team along with a complimentary co-branding marketing site. We want to discuss all of these great opportunities with you so meet us in New York May 18-20 at the Westin to learn more!
Need faster, smarter document delivery? Covius' new on-demand printing and mailing service, Covius Print-Ready Services, makes it easier than ever to produce, print and mail critical borrower communications. The new service provides a variety of mailing options, such as Certified Mail, and delivers advanced, end-to-end tracking services, including an industry-leading USPS refund management service that has so far returned millions in refund savings to clients for nonfulfillment of Certified Mail services. With the ability to print and mail any kind of print-ready documents, including statements, scanned documents, invoices and checks, as well as legal and regulatory notices, and servicing documents, Covius can help you streamline operations, meet compliance standards and satisfy mailing deadlines, all with a single solution. Learn more here or contact Andy Schafer to get started.
The big bang wasn’t a roar. It was a whisper; a hum so faint scientists say it would need to be amplified 7 septillion times just to hear it. Big shifts don’t always start loud, but they change everything. Mortgage tech is about to have its own quiet revolution: the birth of a new platform that empowers borrowers, strengthens your ownership in the process, and redefines the start of the lending relationship. Those who move first will shape what comes next. Join the live reveal this Thursday.
Book for Originators
FREE EBOOK: Helping Borrowers Navigate Loan Products & Pricing: A Loan Officer’s Guide to Winning Trust and Closing More Loans. Today’s borrowers are overwhelmed with fluctuating rates, rising home prices, and a maze of loan options. A loan officer’s ability to simplify the process and offer clear, fast solutions is the ultimate advantage. In Maxwell’s eBook, LOs will learn how to quickly deliver personalized, easy-to-understand loan comparisons that build borrower confidence and set you apart from the competition. Discover time-saving strategies, tech tips, and proven methods to create a seamless borrower experience—and close more deals. Click here to download “Helping Borrowers Navigate Loan Products & Pricing: A Loan Officer’s Guide to Winning Trust and Closing More Loans.”
Ron’s brand-new book, The Purchase Shift: Winning Agent Relationships with Authentic Connection and AI, is now available for pre-order on Amazon. The Purchase Shift is the first industry book written solely about the most talked-about origination growth topic: growing agent relationships and referrals. Inside the book, Ron shares complete strategies and critical mindset shifts that so few originators ever engage in. Readers will gain powerful competitive insights and advantages that win new relationships against competition. The Purchase Shift gives you the exact steps to rapidly grow your agent network by combining authentic connection strategies with powerful technology to separate yourself from the herd.
Webinars, Training, and Events This Week
Today at 10AM PT, hosts Kristin and Robbie are joined by Nick Friedman of HomeLight Homes to explore the bold new strategies millennials are using to navigate today’s challenging housing market in Mortgages with Millennials. From increased interest in fixer-uppers and alternative financing to shifting attitudes on long-term affordability, they unpack how younger buyers are pushing past traditional norms. You'll also hear how concerns around rising costs, insurance, and property taxes are influencing where and how millennials buy… And why home equity is increasingly viewed as a flexible financial tool. Plus, a look ahead at how AI might reshape the mortgage process in the years to come.
How have April’s tariff announcements changed our outlook? Join Comerica’s Chief Economist Bill Adams on LinkedIn Live, April 29th, 2pm ET / 11am PT for a briefing on updated forecasts for growth, the labor market, and prices. How the Fed could react to slower growth and higher inflation. Downside risks of stagflation, foreign investors repricing U.S. exposures, dollar depreciation. Upside risks from policy breakthroughs or a change in the economic narrative.
Register for a Live Cyber Security Webinar with Deb Snyder, April 29, 9:00 AM. 10 rapid fire questions focusing on technology, cyber security, and AI, with new guest speakers each month. Hosted by Jacqueline Goralczyk, NYMBA Technology Committee Chair.
Today, from 1:00 to 2:30PM, EST: The New Administration's First 100 Days Join us for our annual Town Hall as we discuss significant statements and actions of President Trump and his administration during the first 100 days of his second term. Hear from Olivia Kelman, Partner, Mitchell Sandler, Nanci Weissgold, Alston & Bird, Mitch Kider, Weiner Brodsky Kider, PC, Edward Seiler, PhD, Mortgage Bankers Association, Brian Hale, Mortgage Advisory Partners, Rob Chrisman, Owner, Chrisman LLC, and Peter Benjamin, President, ACUMA. We summarize and analyze the potential impacts on our industry. Attend the NAMMBA Town Hall to hear about the latest developments in our industry and hear directly from NAMMBA's Founder/CEO, J. Tony Thompson, CMB as he shares his perspectives as well. Submit your questions to info@nammba.org and tell us what you want to hear more about during this event. Registration Link: https://us06web.zoom.us/webinar/register/WN_2Dcnm6SCQwy68tbEsFlmjg.
In today's episode of MortgagePros411, at 2PM ET, Audrey and Kevin talk marketing!
The initiatives of the second Trump Administration, from issues relating to agency independence to matters of government efficiency, have created ripple effects with respect to the scope and focus of the enforcement powers of the market regulators, the SEC and CFTC, and related enforcement by DOJ. Join K&L Gates lawyers, Tuesday, April 29, 12:00 PM - 1:00 PM ET., as they address predictions for SEC and CFTC enforcement priorities, the impact of recent and anticipated changes in investigations and enforcement practices, and other fallout that regulated entities can expect as new leadership takes charge of these agencies.
Looking for more in-depth commentary on weekly mortgage news? Register here for Wednesday the 2nd at 11AM PT "Mortgage Matters: The Weekly Roundup” presented by Lenders One and tomorrow featuring Matt Vanfossen!
“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.
On Thursday, May 1 at 2 PM ET / 11 AM PT, NMP’s Non-QM Masterclass Series continues with Part Two: Who Does Non-QM Serve Best? Paul Jones, SVP of non-QM Business Development at Logan Finance, will break down the borrower profiles driving today’s non-QM demand, including self-employed borrowers, gig workers, 1099 earners, investors, and foreign nationals. You’ll learn how to identify these clients early, understand their unique financial profiles, and align them with smart, flexible solutions that traditional lending can’t touch. Reserve your spot here.
Thursday will be another episode of The Big Picture at 3PM ET. Rich Swerbinsky hosts a variety of guests. You can click here to register for Thursday’s 3 PM ET show with Sarah Middleton with Supreme.
Friday the 2nd on Last Word, Brian Vieaux, Christy Soukhamneut, Kevin Peranio, and Courtney Thompson discuss the recent decision by the Federal Housing Finance Agency to end Fannie Mae and Freddie Mac's down payment and closing-cost assistance programs for first-time homebuyers. They'll explore the potential impact on affordability, the housing market, and the future of government-backed homeownership support.
Capital Markets
Bonds began the week on a solid note, with the 2-year yield ending Monday a basis point above its settlement level (3.67 percent) from April 4 while the 10-year yield returned to its 200-day moving average of 4.22 percent.
As consumer behavior continues to shift, markets are bracing for a transitional period marked by uncertainty and a likely softening in the labor market, assuming there isn’t a swift resolution to President Trump’s trade war. There have been some carve-outs in the latest round of tariffs, but it seems unlikely the Trump administration will walk away from its broader goal of reshaping global trade. Investors are left in a holding pattern, relying on incoming data and anecdotes to reassess expectations for inflation, growth, and employment. Given this environment, it’s not surprising that markets are reacting less strongly to economic reports. The real impact of the newest tariffs won’t show up in the data until later in the spring, reinforcing the cautious, wait-and-see stance shared by both policymakers and investors.
The U.S. Treasury has sharply increased its borrowing estimate for the current quarter, citing a much lower cash reserve than previously expected due to Congress’s ongoing failure to raise the federal debt limit. In a statement, the Treasury said it now expects to borrow $514 billion between April and June, a significant jump from the $123 billion projected in February. As usual, earlier forecasts assumed the debt ceiling would be addressed promptly, but with lawmakers still negotiating, the Treasury is adjusting its plans accordingly.
Today’s busy economic calendar is already under way with advanced indicators for March: the goods trade deficit widened to a record $162 billion (a hit to GDP), retail inventories (-.1 percent), and wholesale inventories (+.5 percent). Later today brings Redbook same store sales, February house price indices from Case-Shiller and FHFA, April consumer confidence, JOLTS job openings, and Dallas Fed Texas services. We begin the day with Agency MBS prices unchanged from Monday’s close, the 2-year yielding 3.71, and the 10-year yielding 4.23 after closing yesterday at 4.22 percent.
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