5.5.25 Hispanic Homeownership; TD Bank’s Scott Lindner on Educating Borrowers; Federal Reserve Expectations

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 at Hispanic home ownership in the U.S. Plus, Robbie sits down with TD Bank’s Scott Lindner for a discussion on how to better educate potential homebuyers on financial readiness and engender loyalty that will lead to repeat business. And we close with a look at what is expected of the Federal Reserve this week.

Thank you to HomeEQ, the fully digital HELOC from Arc Home, which empowers brokers to quickly provide borrowers with easy access to their home equity. With fast, hassle-free funding in just days, HomeEQ offers a user-friendly platform that simplifies the entire process. Brokers can benefit from competitive compensation, along with comprehensive training and a complete marketing plan designed to help them re-engage former clients and grow their business. Discover how HomeEQ can enhance your offerings by visiting homeeq.archome.com/chrismanpod.

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Today celebrates Mexico’s victory over France in the Battle of Puebla on May 5, 1862. (In this country, Hispanic home ownership rates continue toward 10 million, which includes, of course, Mexicans. 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 are sponsored by HomeEQ, the fully digital HELOC from Arc Home, which empowers brokers to quickly provide borrowers with easy access to their home equity. Brokers can benefit from competitive compensation, along with comprehensive training and a complete marketing plan designed to help them re-engage former clients and grow their business. Hear an interview with TD Bank’s Scott Lindner on how to better educate potential homebuyers on financial readiness and engender loyalty that will lead to repeat business.)

Employment; free resume posting

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SecurityNational Mortgage Expands into the Seattle Metropolitan Area with New Auburn Branch! SecurityNational Mortgage Company (SNMC) is proud to announce the expansion of its footprint into the Seattle metropolitan area with the establishment of the Auburn Branch, part of the company’s Mountain West Region. Located in King County, the Auburn Branch strengthens SNMC’s presence in the Pacific Northwest and reflects the company’s continued commitment to growth, stability, and service in high-demand markets. This expansion brings local expertise and trusted mortgage solutions to more homebuyers and homeowners across the region. The Mountain West Region looks forward to building lasting relationships in the Auburn community and continuing to grow SNMC’s presence throughout Washington State and the greater Pacific Northwest.

“Deephaven Mortgage, a trailblazer in non-QM lending, is growing! We’re on the lookout for experienced wholesale account executives across the country to help fuel our expansion. At Deephaven, we offer a proprietary suite of non-QM products that includes investor products, a robust second lien offering for primary and investments, and access to ground-up construction/fix and flip/bridge loans through our sister company Anchor Loans. Competitive pricing, comprehensive webinar support, a best-in-class scenario desk, a fully integrated platform, and superior customer service all add to the success of our account executives. Great benefits and an unmatched company culture means you’re joining a winning team! If you have a proven track record in non-QM, an active book of business, and the ambition to thrive, we want to meet you. There are many unsaturated territories still available for you to build out. Take the leap and watch your career soar with Deephaven!”

“Join ICE and build the future of mortgage technology. We're redefining the industry with advanced technology that powers every stage of the mortgage lifecycle. Work alongside innovators impacting the future of mortgage technology at ICE. Join a dynamic team driving advancements in origination, servicing, consumer engagement and closing solutions. From cutting-edge platforms to scalable infrastructure, your work will help millions of people achieve the dream of homeownership. Learn about opportunities to innovate, grow and make a lasting impact. Explore open roles today.”

(As a reminder, anyone searching for employment can post their resume at no charge at www.lendernews.com, and potential employers can view all resumes for several months for only $75.)

Software, products, and services for lenders & brokers

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Have a game-changing software idea? Let’s build it. Every mortgage exec has had that moment: "If only there were software that did this…" But instead of building it, they keep paying $30K, $50K, even $100K+ every month for generic SaaS that doesn’t quite fit. Automatic Lender helps lenders turn their best ideas into custom, AI-powered mortgage software that automates manual work, eliminates unnecessary costs, and puts you in full control, without the bloated price tags of SaaS. If you’ve ever thought, "I wish there were a better way to do this," now there is. Schedule a free 30-minute discovery call. Learn more here: https://automaticlender.com/ or contact nick@automaticlender.com.

“’Great Service Shouldn’t Be a Fiesta Rarity.’ Cinco de Mayo fun fact: It’s not Mexico’s Independence Day: it celebrates the underdog’s unexpected win at the Battle of Puebla, not Mexico’s Independence Day. And speaking of unexpected wins... truly great customer service shouldn't be one of them. At Floify, world-class support isn’t an add-on; it’s built in. Our team of mortgage pros sticks with you long after onboarding to make sure you’re getting the most out of your platform. Just ask Michelle Doran from Old Glory Bank, “When issues arise, the Floify team is fast to respond and resolve them. If our account specialist doesn’t reach me by phone, she’ll even send a video of what needs to happen to keep us fully productive.” Don’t just take our word for it: See why service is the real difference-maker in our latest eBook.”

Meet with HomeLend during MBA’s Secondary and Capital Markets Conference (Monday, 5/19 & Tuesday, 5/20 – Marriott Marquis, NY, NY)! Contacts: Doug Potolsky or Gerry Walker. HomeLend Expands Jumbo Loan Solutions: HomeLend’s Super Jumbo program offers loan amounts up to $5MM with flexible Alt Doc options. Its Prime Jumbo program delivers standout pricing on ARMs and 15-Year FRMs. In addition to Jumbo, HomeLend offers: Non-QM (Full Doc, Alt Doc, ITIN, Foreign National, Doctor Loans); Business Purpose (DSCR and RTL/Bridge); 2nd Liens (Closed-End Seconds and HELOCs); and Agency-Eligible. Whether you're building niche programs or scaling flow, HomeLend provides direct access to a proven whole-loan platform: a conduit in a box. The platform speeds execution, broadens product reach, and eliminates the need for heavy internal infrastructure. For investors and sellers navigating margin pressure and operational complexity, HomeLend delivers the liquidity, flexibility, and execution support that today’s market demands.

Disconnected mortgage tech kills momentum. Borrowers bounce. Loan officers waste time. And simple tasks, like collecting a fee or sending a pre-approval letter, still somehow require three platforms, two follow-up emails, and a little bit of luck. That’s why lenders are turning to the LenderLogix Mortgage Suite. With LiteSpeed, borrowers apply in minutes through a sleek, mobile-first interface that syncs directly with Encompass® by ICE Mortgage Technology™.
With QuickQual, agents and borrowers generate pre-approval and pre-qualification letters on demand within LO-defined parameters. And with Fee Chaser, upfront payments like credit reports and appraisals are automatically requested, tracked, and paid. No awkward conversations. No forgotten charges. Everything works together. Everything talks to Encompass. And it’s all backed by a support team your staff will know by name. Less tech sprawl. More closed loans. See how the Suite fits into your workflow.

It’s May… time for events, training, and webinars: this week!

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What? You’ve never heard of the “Lender to Vendor” ratio at a conference? 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!

The Chrisman Commentary is pleased to bring you a variety of video shows hosted on Zoom throughout the week. Take your pick: We have a show focused on technology and innovation (Now Next Later Mondays at 1pm ET), origination (Mortgage Pros Tuesdays at 2pm ET), big-name interviews (Mortgage Matters Wednesdays at 2pm ET, presented by Lenders One), headline news (The Big Picture Thursday’s at 3pm ET), opinion (Last Word Fridays at 1pm ET), advisory services (Advisory Angle first Tuesday of the month at 2pm ET, presented by STRATMOR Group), capital markets (Capital Markets Wrap second Tuesday of the month at 3pm ET, presented by Polly), regulation and compliance (Regulation Central third Tuesday of the month at 3pm ET), and reaching the next generation of homeowners (Mortgages with Millennials last Tuesday of the month at 1pm ET, presented by The Mortgage Collaborative). (If you don’t see a presenting sponsor, please reach out to Chrisman LLC’s Anjelica Nixt to inquire about opportunities.)

There’s the National MI May Training Calendar, ARCH MI, MGIC, Essent, Radian, and Enact.

Technology and innovation in residential lending are the focus of Now Next Later today at 1pm ET.

In tomorrow’s episode of MortgagePros411, at 2PM ET, Audrey and Kevin speak originator’s language.

Tomorrow join Total Expert Founder & CEO Joe Welu as he sits down with the Weiner Brodsky Kider PC Managing Director Mitch Kider as they explore the super power AI offers while discussing the compliance and regulatory considerations. They’ll introduce a purpose-built consent management and AI engagement framework designed specifically for highly regulated lending workflows. Register here!

“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. Our agenda includes featured speakers, unforgettable networking events, and tailored training. 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.”

Register for OMBA's 2025 Annual Convention, May 5 - 6, at Renaissance Columbus Westerville Polaris Hotel. Join this in-person event as we discuss topics that are important to your business and your clients.

Mutual of Omaha Mortgage partners with Zonda to host the Builder 100, May 5-7 at the Ritz-Carlton Laguna Niguel, Dana Point, CA. Contact Damon Cortez or Toby Roberts today to learn more about our innovative products, programs and partnership strategies (including our JV-Less JV program, where builders get all the mortgage benefits and none of the hassles.)

Join the Tupelo Chapter of the Mortgage Bankers Association of Mississippi for an insightful luncheon on May 6, at Harveys in Tupelo, MS, from 11:30 AM to 1:00 PM. Speaker: Jim Badia Topic: Rates - What affects the rates and the overall outlook for the mortgage market.

The Mortgage Innovators Conference is May 7 – 8 in Huntington Beach, CA. Co-Chairs Kevin Peranio, PRMG, and Ike Suri, Funding Shield welcome all California MBA lender members free of charge! Texas MBA lender members and MISMO lender members also receive complimentary registrations! For non-lenders, you can use the coupon code MIC25-SALE to receive 25% off your registration through April 25th. Thank you to our Premier Sponsors Cotality (formerly CoreLogic) and ICE Mortgage Technology. This conference will not only cover technology and product innovations in mortgage, but we’re also featuring a session of private equity and venture capital companies discussing factors that go into investing in technology.

Asurity's fourth annual Fair Lending Forum is taking place May 7-9 in Washington, DC 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. Reserve your spot today!

Join Enact MI on Wednesday May 7, 12:00 – 1:00 ET. for a live, interactive webinar hosted by Enact’s security guru and Director of IS Security, Dave Murray, and Enact’s Director of Customer Education, MaryKay Scully. These industry experts will discuss top tips and strategies for beefing up your cybersecurity to help you protect yourself and your customers.

Join IMBA on May 7, 10:00am - 11:30am CST for a Virtual Loan Officer Superstars Workshop. Alex Varela, Andy Tisler, Jennifer Beeston, and Skip Brown will share the steps, action items, and daily mindset that help them collectively generate over half a billion dollars in annual loan volume.

Looking for more in-depth commentary on weekly mortgage news? Register here for Wednesday the 7th at 11AM PT "Mortgage Matters: The Weekly Roundup” presented by Lenders One. This week we have Tony Thompson from NAMMBA.

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

Friday the 9th 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: lots of Fed noise about it doing nothing

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If the tariff announcements in April affected employment, it is yet to show up in the official numbers. Last week closed with reassuringly normal job growth in the April payrolls report after other recent labor data had pointed to softer demand. April payrolls beat expectations with 177k new jobs, however prior months’ were revised downward by 58k versus what was previously reported. (Anecdotally, businesses have mixed feelings about cutting costs and staff versus keeping talent for what could be a temporary slowdown.) The unemployment rate was unchanged and job growth in the survey of households was solid. Wages rose modestly on the month but still outpaced inflation. The only downside to the report was that it pushed bond yields up.

Economic data released over the last week contained a mix of pre- and post-tariff day announcement data, although considerations around trade uncertainty were evident in all the reports. Real Gross Domestic Product contracted 0.3 percent in the first quarter with the weakness attributed to trade shuffling in anticipation of tariffs and higher prices. Domestically, real final sales grew at a 3.0 percent rate, which is in line with the rate over the last year. Consumer spending increased 0.7 percent in March and despite the increase, both headline and core inflation were flat. While there is evidence that consumers pulled forward spending on larger items like automobiles to get ahead of the effects of tariffs, there is not yet sufficient evidence that a major pullback in consumer spending is evident.

This week’s calendar is mostly about central bank decisions, including our Federal Reserve on Wednesday (markets are pricing in no chance of a cut this week and less than a 50 percent chance of a cut next month; the consensus for 2025 is a total of three rate cuts), and $125 billion in quarterly refunding supply from Treasury over the first four days of the week. The FOMC announcement will be on Wednesday afternoon, followed by Fed Chairman Powell’s press conference. Thursday brings the latest decisions from the Bank of England (where a 25-basis points cut is expected), Sweden’s Riksbank (no change expected), and Norges Bank (no change expected).

Aside from Fed chatter, the economic calendar is on the lighter side and includes updates on services PMIs, trade, consumer credit, productivity/unit labor costs, and wholesale trade. April Agency MBS prepayments will be released after tomorrow’s close and into the evening, and Class A 48-hour notification is on Friday.

Today’s economic calendar has, through the day, final April S&P Global services PMI, the ISM equivalent for April, and the April employment trends index; Treasury activity that will be headlined by a $58 billion 3-year note auction. We begin the week with Agency MBS prices slightly improved from Friday’s close, the 2-year yielding 3.79, and the 10-year yielding 4.29 after closing last week at 4.32 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.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, “Love Them or Leave Them? The Ongoing Saga of Fannie and Freddie.” 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.ChrismanCommentary.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.)