4.20.26 Oil Price Tracking; Noise Media Group's Joseph Levi on SEO For AI; Upcoming Data

In today’s episode, we go through the ways mortgage rates are moving in lockstep with oil prices. Plus, Robbie sits down with Noise Media Group’s Joseph Levi for a discussion on how marketers are turning SEO budgets into generative engine optimization (GEO) to maintain visibility across AI-driven results that pull from diverse sources like structured data, news, and social content. And we close by looking ahead to this week's economic calendar and what data points could sway markets.

Thank you to Experian Verify, a comprehensive income and employment verification solution for mortgage lenders. By uniting instant payroll data, permissioned access, and research verification in one seamless experience, Experian Verify helps lenders reduce friction, accelerate decisions, and confidently verify every U.S. worker.

The Chrisman Commentary is 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.

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“Our local auctioneer has passed away. He was somewhere around 60? 65? 65? 70.” I met an auctioneer over the weekend at a social event, and I asked her, given her 30+ years of doing it, if she could gauge the economic mood or climate based on bidding activity. She replied that she’s never seen more hesitation and lack of buying interest than now. Maybe it’s a great time to buy something! War in the Middle East made oil prices go up, higher oil prices hurt world economies and stock markets because prices and inflation go up, and higher inflation leads to higher interest rates. At least, that’s the way it usually works, as does the opposite. Last week stock markets surged as pivotal geopolitical development reshaped investor sentiment: The announced reopening of the Strait of Hormuz marked a major step toward de-escalation in the Middle East, with ongoing negotiations fueling optimism that a broader resolution may be closer than previously expected. Oil prices plunged roughly 14 percent intraday, briefly nearing $80 per barrel, down sharply from nearly $120 just ten days ago at peak tensions. But that was then, and this is now. And who knows what will happen next? (Today’s podcast can be found here and this week’s ‘casts are sponsored by Experian. From lead generation to closing and beyond, Experian empowers mortgage professionals with advanced data, credit insights, and decisioning tools to grow pipelines, manage risk, and stay compliant in a rapidly changing market. Hear an interview with Noise Media Group’s Joe Levi on how marketers are turning SEO budgets into generative engine optimization (GEO) to maintain visibility across AI-driven results that pull from diverse sources like structured data, news, and social content.)

Employment

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“FourLeaf Federal Credit Union is hiring talented Mortgage Loan Officers! FourLeaf Federal Credit Union (FourLeaf) is the largest credit union in New York and the 15th-largest in the nation*. We offer experienced loan officers institutional backing, nationwide reach, competitive rates, and quick closing times to expand your business without starting over. To learn more or start the conversation today, email us. About FourLeaf: FourLeaf has been committed to the financial well-being of our members for almost 85 years. Through our full range of competitive savings and loan products, you can trust us in every step of your financial journey. (*Source: Callahan Associates, September 2025.)”

The Chrisman Job Board is the go-to platform for employment opportunities across the mortgage industry. For employers, adding a job listing is easy. Simply create an account and drop in your existing application link, or forward the details to our team and we’ll take care of it for you. For job seekers, joining our Talent Community is completely free. Upload your resume to be visible to hiring companies across the industry and stay connected to new opportunities as they go live.

Wholesale and correspondent product & corporate news

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NFTYDoor, an end-to-end digital HELOC software platform, today announced it is now operating as a fully independent company, enabling direct partnerships with wholesale brokers and private label correspondents, alongside a significant expansion of credit parameters and partner economics. Key enhancements include minimum FICO reduced from 640 to 600, maximum CLTV increased from 80 to 90 percent, maximum loan amount increased from $500,000 to $750,000, borrower rates reduced by 100+ bps, increased compensation for brokers and private label partners, and a fully embedded, no-cost warehouse line for private label partners. Access to NFTYDoor's enhanced end-to-end HELOC origination solution is available exclusively to partners contracting directly with NFTYDoor. Contact hello@nftydoor.com.

“As the spring and summer buying season heats up, many clients are eager to make their next move, but their equity is still tied up in their current home. That’s where strategic financing solutions can make all the difference. Join American Heritage Lending for our upcoming Bridge Star Loan Webinar and discover how to help your clients leverage their existing equity to purchase their next home without waiting to sell. Register here. In this session, we’ll cover how to structure deals that allow buyers to purchase before they sell, eliminate contingent offers, and overcome common DTI and qualification challenges. You’ll also walk away with real-world scenarios you can use immediately to grow your pipeline. We’ll highlight two powerful options: a Stand-Alone Bridge Loan and a Simultaneous Bridge + Purchase structure. Don’t miss this opportunity to strengthen your strategy and help your clients win. For more details, contact James Gueltzow or visit www.ahlend.com.”

Spring Into Serious Volume with LendingPros the #1 Non-QM Lender (per Scotsman Guide 2025 Rankings for OCMBC, Inc. and its DBAs) and unlock one of the industry’s most expansive non-QM product suites designed to help you capture more deals across every scenario. From 12-month bank statements, ITIN, Foreign National, WVOE, P&L, 1099, and 60-month Asset Utilization to a full lineup of DSCR options (Investor, 5–8 Unit, No Ratio, and Fusion), you’ll have the flexibility to say “yes” more often. And when speed matters, FHA Streamlines help you close faster with no income verification, no appraisal, and credit-friendly options, so you can move loans quickly and keep your pipeline hot. Connect with your LendingPros Account Executive today and start turning more opportunities into closings. Learn More.

“Bayview's Silver Hill Capital just enhanced its Agency Investor Plus product to now offer up to 90% LTV on investor properties, giving borrowers the ability to put less money down while helping originators win more loans. Agency Investor Plus is an Agency Automated Underwrite that offers: 90% LTV, vest in an LLC, 10+ properties, and IO and prepayment options. Sign up for an upcoming training on April 23rd from 2-3PM EST highlighting our AIP product enhancements. We’ll be hosting meetings for the upcoming MBA Annual at the W in Times Square from May 17–19. Schedule time with our team to connect and explore new opportunities for your business.”

Homebridge Financial Services, Inc., one of the nation’s largest privately held, non-bank mortgage lenders, has officially signed an agreement to merge with an affiliate of Saluda Grade, a premier independent alternative investment firm (founded in 2019 with approximately $4.4 billion in assets under management). This powerful partnership marks a major leap forward, positioning the combined platform for explosive growth, particularly across the rapidly expanding Non-QM and HELOC space. The executive and management team at Homebridge are continuing with the company. Homebridge and REMN Wholesale will keep their full teams intact, ensuring continuity while unlocking next-level scale, innovation, and market leadership. Introducing HELIX, The Future of Digital Mortgage Lending! As part of this transformation, Homebridge and REMN Wholesale will be launching HELIX, a cutting-edge Digital mortgage lending platform that is miles ahead of anything currently in the market. Built directly from client feedback and engineered with a relentless focus on speed, automation, and elite customer experience, HELIX isn’t just an upgrade—it’s a complete reinvention of the digital mortgage process. This powerful new platform integrates home equity and first lien lending into one seamless ecosystem, dramatically improving both the borrower and MLO experience while driving unprecedented efficiency and scalability.

What Makes HELIX a Game-Changer? Proactive Risk Intelligence – Instantly identifies vesting complexities, undisclosed liens, and potential deal issues at application—before they become problems. Next-Level Workflow Automation – Streamlined, intuitive processes that accelerate deal flow, simplify documentation, and enhance collaboration. Seamless Integrations: Built-in connectivity for tax services, bank statement verifications, communication tools, and customer service platforms. Enhanced Transparency – Greater visibility into all loan data, automated valuation, income calculations, and full view to all communications for smarter, faster decision-making. Digital Debt Payoff – Fully integrated for an instant payoff experience for the borrower. With HELIX at the core, Homebridge & REMN Wholesale are primed to supercharge HELOC & Non-QM production, opening the door to new borrower segments, faster turn times, and significant volume growth. This is more than expansion… It’s a strategic move to dominate one of the fastest-growing sectors in lending. This merger + HELIX technology = a massive competitive advantage for our broker and lender partners. Contact your Homebridge Wholesale or REMN Wholesale Account Executive today to get ahead of the curve and experience the future of digital mortgage lending.

Products, services, and software for brokers and lenders

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“Monster Lead Group built its reputation as the leader in lead generation for direct-to-consumer mortgage lenders, and now it's so much more. Today, we launch as Loansure: an AI-enabled loan acquisition system that takes everything we've mastered in lead generation and extends it across your entire funnel. Less incremental spend. Less incremental headcount. More funded loans. Built on proprietary data and powered by AI that learns from every outcome your team produces. If you know what Monster built, you're going to love what Loansure delivers. Schedule a Demo at loansure.ai.”

Mortgage lenders don't need more fragmented tools. They need one coordinated system that works across roles, from LO to processor to underwriter to close. Most AI in mortgage automates tasks inside a single step. JazzX orchestrates work between them: reasoning over your guidelines and overlays, continuously reassessing every file as new information arrives, and citing the specific policy behind every finding. Governed, auditable, and instrumented to measure its own impact from Day One. Book a demo with the JazzX team to see it in action.

EVERGREEN HOME LOANS SELECTS DARA BY SAGENT TO POWER ITS NEXT PHASE OF SERVICING GROWTH. The Bellevue-based lender is transitioning from a legacy system to Dara’s cloud-native, end-to-end platform, bringing core servicing, consumer experience, default management, and AI-driven workflows into a single, unified system. The move signals a broader industry shift: servicers are no longer treating technology as a back-office function, but as a competitive lever. With real-time data, automation, and embedded compliance, Dara is designed to reduce operational complexity while improving homeowner engagement and retention. For Evergreen, the investment supports scalable growth and a more connected homeowner experience. For Sagent, it’s another proof point that the market is ready to move beyond fragmented, legacy servicing, and toward a unified, AI-powered future. You can read the full partnership announcement here.

“Mortgage Loan Subservicing, For and By Credit Unions! Twenty‑five years ago, we took our first steps into the world of credit unions, not just as a mortgage servicer, but as a partner in a shared mission. Credit unions make up nearly one-third of our portfolio. We’re well‑versed in being a strategic partner that provides consistent value, innovation and support designed specifically for credit unions. Our CUSO, CU Servnet, is led by executives from some of the nation’s top credit unions and is dedicated exclusively to mortgage loan servicing. Through CU Servnet, we deliver a credit‑union‑focused customer experience, reduce costs for our partners, and help them support their risk and compliance efforts. Our team of experts, many with direct credit union experience, and our advanced, AI‑driven technology, position us as a partner now and for generations to come. To learn more about how Cenlar and CU Servnet can benefit your credit union, reach out to Vice President of Client Management John Lacca.”

AI in mortgage is having a moment, though clarity can still be hard to find. If you missed the live session, the on-demand recording of The Hitchhiker’s Guide to AI in Mortgage Lending is available now. LenderLogix CEO Patrick O’Brien covers where AI actually improves efficiency, where it just adds noise, and why lenders should focus less on flashy demos and more on solving real business needs. From workflow efficiency and cost reduction to borrower experience, this webinar offers a grounded look at what mortgage lenders should truly focus on. Watch the recording here.

The Chrisman Marketplace is a centralized hub for vendors and service providers across the mortgage industry to be viewed by lenders in a very cost-effective manner. We’re adding new providers daily, so check back often to see what’s new. To reserve your place or learn more, contact us at info@chrismancommentary.com.

Capital markets: Rates in a holding pattern despite lots of news

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What happens when a growing lender outgrows best efforts? For Local Bank, it meant rethinking its execution strategy. As volume increased, the bank needed a more efficient way to manage its pipeline, improve pricing, and support long-term growth. With Vice Capital Markets, Local Bank transitioned to mandatory execution, streamlined reporting and workflows, and gained full-service hedge advisory support without adding headcount. The payoff was measurable: a more efficient capital markets operation, stronger execution, and better control over a growing pipeline, all of which resulted in an additional $500,000 in secondary gain-on-sale on $200 million in production. Read the case study to see how Vice Capital Markets helped Local Bank make the transition and improve execution.

The Treasury market is essentially in a holding pattern right now, with interest rates moving in an unusually tight range as investors wait for clearer signals about the economy and inflation. The 10-year yield has been hovering around 4.30 percent with very little day-to-day movement, and even longer-term rates have stayed just below 5 percent, suggesting markets aren’t overly worried about runaway inflation despite higher oil prices.

This calm comes after a volatile March, and it reflects a broader “wait and see” mindset: the Fed isn’t expected to change rates anytime soon, and investors don’t yet have enough clarity on growth or geopolitical risks to make big moves. However, there’s a disconnect: stocks are hitting record highs while consumer sentiment remains weak and concerns about the economy linger. The stability is more about indecision than confidence, and it may not last if economic data starts to deteriorate.

Despite slightly lower rates than a year ago, monthly payments remain largely unchanged, while affordability continues to hover near record lows due to persistent home price growth and severe supply constraints driven by millions of homeowners locked into sub-4 percent mortgages. This “lock-in effect” has sharply limited existing inventory, exacerbating the imbalance even as geopolitical tensions threaten to lift inflation and borrowing costs further. As a result, mortgage production expectations are being revised downward, with the predictions increasingly dependent on the duration of the conflict. Each incremental rise in rates from here is expected to meaningfully reduce lending activity.

Recent growth in mortgage issuance has been driven almost entirely by traditional rate-and-term refinancing rather than equity extraction. Despite home equity remaining near record levels at $34.1 trillion, cash-out refinancing activity has remained notably subdued, reflecting structural constraints. While lower rates earlier in the year sparked expectations of a resurgence, most homeowners with significant equity are unwilling to refinance into today’s higher rates. Meanwhile, newer borrowers who could benefit from refinancing lack sufficient home price appreciation to extract meaningful cash, creating a mismatch that limits activity. The muted cash-out environment may ultimately serve as a stabilizing force by preventing households from overleveraging despite elevated home values.

This week’s data includes updates on retail sales, pending homes sales, Fed surveys, flash S&P Global PMIs, and Michigan sentiment. Treasury activity will be headlined by auctions of $13 billion reopened 20-year bonds and $26 billion 5-year TIPS on Wednesday and Thursday, respectively. The Fed will go into blackout ahead of the April 28-29 FOMC meeting, though the Senate Banking Committee will hold a hearing on Fed Chair nominee Kevin Warsh tomorrow; and we will have an in-depth look at that for you. Regarding MBS, class D 48-hours is tomorrow. With nothing of note on today’s economic calendar (aside from some short-duration Treasury auctions), we begin the week with Agency MBS prices little changed from Friday’s close, the 2-year yielding 3.73, and the 10-year yielding 4.27 after closing last week at 4.25 percent, down 7-basis points over the course of the week.

It's my first week working at the bicycle factory, and they’ve already made me a spokesperson.

Visit www.ChrismanCommentary.com for more information on our industry partners, access archived commentaries, or subscribe to the Daily Mortgage News and Commentary. You can also explore the Chrisman Marketplace, a centralized hub connecting mortgage professionals with trusted vendors and solutions. If you’re interested, check out my periodic blog on the STRATMOR Group website. This month’s piece is titled, “Mortgage Rates Are Not Random.”  The Commentary’s podcast is available on all major platforms, including Apple and Spotify.

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