2.24.25 Fannie and Freddie Future; Figure's Michael Tannenbaum on Home Equity Lending; Home Affordability Woes

Welcome to The Chrisman Commentary, your go-to daily mortgage news podcast, where industry insights meet expert analysis. Hosted by Robbie Chrisman, this podcast delivers the latest updates on mortgage rates, capital markets, and the forces shaping the housing finance landscape. Whether you're a seasoned professional or just looking to stay informed, you'll get clear, concise breakdowns of market trends and economic shifts that impact the mortgage world.

In today’s episode, we look the future of Fannie and Freddie's impact on lending rates. Plus, Robbie sits down with Figure's Michael Tannenbaum to talk about the home equity lending space. And we go through home affordability.

Sagent powers banks and lenders to make loans and homeownership simpler and safer for millions of consumers. We bring the modern experience customers now expect from loan originations to loan servicing, where lifetime customer relationships are managed and grown. Sagent platforms let consumers manage their home-owning lives from anywhere while giving servicers lower costs, scale compliance, and higher servicing values through full market cycles.

Transcript

Today I head to Connecticut for a visit with First World Mortgage and the Northeast Mortgage Summit. Today happens to be rocker George Thorogood’s 75th birthday, and mortgage bankers know that he re-did Amos Milburn’s 1953 classic tale of rent collection, land ladies, and payment avoidance. On a more serious note, I’ve been fortunate to spend some informal time recently with some fine mortgage minds discussing topics like the brutal administrative costs of bond programs, and perhaps a future allowing LOs to make price concessions to be competitive instead of the lender. The path forward for Freddie and Fannie, and the cost to consumers of that path, is a concern, but so is Agency innovation, building their executive ranks, keeping the “playing field” level regarding, for example, gfees. Competing against one another in a healthy way is a good thing, but some of the smarter minds believe that there will be a 75-100 basis point increase in rate when it eventually happens. Meanwhile, lenders continue to improve their product and technology, and in today’s episode of Now Next Later, Jeremy and Sasha talk with Melissa Langdale, Founder and CEO of Praxis Lending Solutions, about her expertise in the mortgage industry, the importance of collaboration, scalable solutions, and effective risk management for long-term success in the ever-changing market. (Today’s podcast can be found here and this week’s is sponsored by Sagent. Sagent brings the modern experience customers now expect from loan originations to loan servicing, where lifetime customer relationships are managed and grown. Hear an interview with Figure’s Michael Tannenbaum on capital infusions that will allow for growth in the home equity lending space.)

Lender and broker services, products, and software

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In today’s competitive mortgage marketplace, customizing workflows and borrower experience is crucial to differentiation. With the industry-first configurability of Maxwell Point of Sale, lenders can define workflows for any mortgage product, while configuring triggers and business rules to align the borrower experience to operational processes. Maxwell Point of Sale also features more than 60 third-party integrations, allowing lending teams to seamlessly connect with other vital pieces of their workflow, from credit and verifications to pricing and disclosures. Maxwell Point of Sale also sees a 60% increase in pull-through from Rate Lock to Close on vs top competitors. Want to learn more? Let us know and we’ll show you what Maxwell can do for you and your borrowers.

MonitorBase Joins MMI and Bonzo: Shaping the Future of Mortgage Intelligence! MonitorBase has officially joined MMI and Bonzo, creating a powerful, seamless, end-to-end solution for mortgage professionals. With market intelligence, borrower monitoring & predictive analytics, and automated engagement now united, lenders can work smarter to close more deals. Market & Competitive Insights: MMI provides powerful data to identify high-value lending opportunities. Real-Time Borrower Alerts: MonitorBase tracks credit activity and notifies you when past clients are mortgage-ready. Automated Lead Nurturing: Bonzo’s AI-driven outreach keeps you engaged with clients at the right moment. This comprehensive technology suite ensures you connect with the right agents and borrowers at the right time with the right message, before the competition beats you to the punch. Discover how MMI, Bonzo, and MonitorBase can transform your approach to mortgage lending here.

With market trends changing, it’s time for brokers to reassess their product lineups. HomeEQ, Arc Home’s fully digital HELOC offering, meets the needs of both brokers and borrowers alike. With U.S. home equity reaching $33.8 trillion, clients are looking for smarter ways to access this value without refinancing their low mortgage rates. The newly released HomeEQ Broker Playbook is your guide to seamlessly integrating HELOCs into your product mix. This 30-day marketing resource takes all the guesswork out of building a campaign, providing customizable tools to help you connect with past borrowers and attract new clients. HomeEQ offers brokers a straightforward path to new revenue streams by meeting today’s equity-rich market demand with speed and simplicity. Download the playbook today and position HomeEQ as a cornerstone of your 2025 strategy. To learn more or to schedule a personalized training session on HomeEQ’s fast, easy, and convenient broker portal, reach out to John Gibson today.

REMN WHOLESALE is dedicated to giving mortgage brokers the tools they need to thrive every day. REMN’s Digital HELOC has just been enhanced with “FastPass HELOC” technology, positioning borrowers to close faster through a streamlined process for eligible deals. In addition to HELOCs, REMN offers a full range of products, including DSCR, ITIN, Bank Statement, Asset Qualifier, 1099 Only, Full Doc, P&L Statement Only, and Foreign National loans. Don’t miss REMN’s DSCR 1-point pricing special, extended through February 28, 2025. REMN is also offering a .75 adjustor for 720+ credit scores on 203b FHA loans (excluding K’s, Streamlines, and High Balance). With one of the most tenured and experienced teams in the industry, REMN WHOLESALE is your #1 trusted lending partner. Contact your AE today! REMN WHOLESALE is hiring Account Executives nationwide. Contact Carl Markman, SVP Director of National Sales.

STRATMOR Consumer Direct workshop is now open

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STRAMOR Consumer Direct Workshop Coming to Chicago! STRATMOR Group is once again hosting its popular Consumer Direct Workshop in-person this May. Join peer lenders and STRATMOR experts Garth Graham, Brett McCracken, and Sue Woodard in Chicago, on May 21 and 22, 2025, to explore key strategies that will set you apart in a competitive market, from personalizing the customer experience to leveraging cutting-edge technology for increased efficiency. CD lenders that can differentiate themselves through superior service, innovative technology, and seamless digital experiences will be in a stronger position to survive and thrive. Don’t miss out on the opportunity to gain actionable insights that will help you succeed in the rapidly changing mortgage landscape. Space is limited! Learn more and reserve your seat today.

Non-Agency news: given the volumes, worth a note

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If the residential biz does about $2 trillion this year, and if some estimates are true, and 10-15 percent of that is non-QM or jumbo, that’s $200-$300 billion for the year, or about $20 billion a month. Someone’s gotta do it!

Visit www.robchrisman.com for more information on our industry partners, access archived commentaries, or to subscribe to the Daily Mortgage News and Commentary. If you’re interested, visit my periodic blog at the STRATMOR Group web site. This month’s piece is titled, “Natural Disasters and Economic Resilience.” The Commentary’s podcast is live and at any place you obtain your podcasts (like Apple or Spotify).

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(Market data provided in partnership with MBS Live. For free job postings and to view candidate resumes visit LenderNews. This newsletter is for sophisticated mortgage professionals only. There are no paid endorsements by me. For up-to-date mortgage news visit Mortgage News Daily. For archived commentaries, or to subscribe, go to www.robchrisman.com. Copyright 2025 Chrisman LLC. All rights reserved. Occasional 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.)