BBYS, Cybersecurity, AI Assistant Tools; Non-Agency News; STRATMOR on Owning Servicing
Appraisal methodology and analysis have changed over the years, and we’re about to undergo another major alteration with UAD 3.6. Some investors are ahead of the 11/2/26 curve. For example, Newrez is now accepting loans from clients who have adopted the Uniform Appraisal Dataset (UAD) 3.6 Appraisal and Forms Redesign and submitted via the Uniform Collateral Data Portal (UCDP) “for all conforming loans and non-QM loans (Smart Series). Government (FHA, VA, and USDA), JUMBO AUS and Closed-end seconds loans must continue using the UAD 2.6 appraisals.” This write up by AXIS AMC’s Mike Simmons is a good primer: all appraisals, to be eligible for sale to Fannie and Freddie, must be submitted in UAD (Uniform Appraisal Dataset) 3.6 format. Class Valuation’s Mark Walser told me that lenders need to have begun setting up the process and planning in the first quarter of 2026, and spend the 2nd and 3rd quarters testing and transitioning their appraisal volume to it. I am sure that it will be a topic on tomorrow’s interview with Deephaven’s Tom Davis, sponsored by L1. (Today’s podcast can be found here and this week’s ‘casts are sponsored by RelCu. RelCu is the all-in-one agentic platform driving conversion, retention, and cross-sell across mortgage and deposits. Today’s features an interview after 6AM PT with Guild Mortgage’s Terry Schmidt on understanding borrower behavior, adoption of AI-driven and digital capabilities, affordability, and access, and both cultural and structural shifts toward data-driven proactive lending.)
Products, Services, and Software for Brokers and Lenders
Most AI in mortgage automates individual tasks but doesn’t change how work actually moves between roles: keeping costs high and transformation stagnant. The bottleneck isn’t inside any one step, but it is in the handoffs, the exceptions, and the decisions that span the entire loan process. JazzX AI digital assistants don’t just automate steps, they coordinate complex decisions end-to-end across processing, underwriting, QC, and servicing. Every finding is reasoned against your guidelines and overlays, continuously reassessed as new information arrives, and cited to the specific policy that produced it. Meaning your team stays in control. The result: lower cost per loan, faster decisions, and higher loan quality. Book a demo to see how JazzX AI optimizes mortgage execution from end-to-end.
While legacy tech continues to promise “seamless integration” that rarely materializes, the industry is undergoing a massive correction driven by a single metric: actual adoption. The “Vendor Patchwork” era is hitting a wall as lenders realize they are paying a massive complexity tax on disconnected tech stacks that drain both budget and sanity. CANDID is leading this shift with an explosive 829 percent YOY growth and a 61 percent daily LO adoption rate, outpacing legacy platforms by 9x and delivering a staggering 83 percent cost savings by consolidating fragmented systems. For executives, this isn’t just another tech story; it’s a blueprint for operational velocity in a margin-compressed market where the goal is to stop managing “shelfware” and start driving real production. If you’re ready to move toward a platform that is already outperforming everything it replaced, book your Discovery & Vision Call today, or catch our team in person at the Texas MBA 110th Annual Convention in Austin, April 26–28.
Big advancements in automation are taking shape in mortgage servicing. During ICE Experience, ICE unveiled AI voice and chat agents designed to help homeowners answer questions about their loans and execute loan management actions within governed processes. “These agents are purpose-built to make it easier for homeowners to manage their mortgages, for servicing teams to manage fluctuating call volumes and for servicers to reduce their cost per loan serviced, all while supporting compliance requirements for mortgage servicing,” said Bob Hart, President of ICE Mortgage Technology. ICE also introduced more than a dozen automation agents that streamline highly complex servicing tasks. ICE’s AI solutions are powered by ICE Aurora, an enterprise AI framework designed to embed responsible, transparent AI into data‑intensive mortgage workflows. Read the press release to learn more about how the latest innovations from ICE can help transform mortgage servicing.
Heightened Iranian cyber activity isn’t just a national security headline; it’s a growing business risk for mortgage lenders. As geopolitical tensions rise, state-sponsored cyber actors are increasingly leveraging phishing, credential theft, and network disruption to target U.S. organizations that rely on operational continuity, trusted relationships, and sensitive data. In a recent article, Richey May’s cybersecurity division, RM Cyber, outlines what this activity signals for businesses and why those with complex technology environments and third-party dependencies should be paying close attention. From safeguarding borrower data to keeping loan operations running without interruption, preparation matters long before a disruption occurs. Read the in-depth article, What Iranian Cyber Activity Means for Businesses, and learn how RM Cyber helps mortgage lenders navigate today’s evolving cyber risk landscape at rm-cyber.com.
If your borrowers are stuck behind a home-sale contingency and facing DTI limitations, join Flyhomes’ live session on April 3 or April 8 to see how Buy Before You Sell can help them purchase their next home before selling their current one. With the DREAM Solution, borrowers can exclude their existing mortgage from their DTI ratio and unlock home equity to cover the down payment, allowing them to remove the home-sale contingency with confidence. Save your spot for the session now or book a call to review a borrower scenario today.
Today at 10AM PT there’s Mortgages With Millennials, sponsored by Insellerate, where Robbie Chrisman and Kristin Messerli are joined by Odeta Kushi of First American to break down the economic forces shaping today’s housing market. The discussion explores affordability, supply dynamics, and what these trends mean for borrower behavior and lender strategy.
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.
STRATMOR on Owning Servicing
STRATMOR Group’s latest InFocus article makes a compelling case for elevating mortgage servicing from an operational afterthought to a core strategic asset. In today’s margin-compressed environment, where origination profits are under pressure, servicing and MSRs often represent a lender’s most reliable source of value and customer connection. The article outlines how executive teams should approach key decisions around retaining vs. selling servicing, subservicing vs. in-house operations, and aligning servicing strategy with broader business goals. With data-driven insights and practical guidance, STRATMOR reinforces that the question isn’t whether servicing matters; it’s whether leadership is treating it with the strategic priority it deserves. Read the full March Insights Report.
While we’re talking about studies, this morning, the American Land Title Association (ALTA), the national trade association of the land title insurance industry, announced the publication of a new study that underscores the extensive research, analysis and problem-solving title professionals perform to produce a clean and insurable title before a real estate transaction can close. The report, Measuring the Complexity of Title Production: A Study of Operational Demands, Risks, and Curative Challenges, surveyed 449 title professionals across 47 states and examined the operational work required to identify risks, review property records, and resolve issues before issuing title insurance.
LOs Want to Know, “Who ‘Owns’ the Borrower?”
Brian Vieaux (think: MISMO!) examines whether anyone truly “owns” the borrower in today’s mortgage ecosystem. Despite industry efforts to control the relationship through servicing and scale, borrowers often experience fragmented, competing outreach from multiple players. This confusion, he suggests, may be a key reason retention remains so challenging. His takeaway is simple: relationships are not owned, they are earned. For a deeper look at what this means for the industry, read the full article.
Non-Agency News
No originator wants to tell a borrower that they can’t help them because they don’t have a product that will fit. And thus, the interest boom in non-QM, DSCR, asset depletion, jumbo, etc. programs. Who’s been doing what recently?
Effective for new loan applications dated on and after March 27, 2026, Pennymac implemented several changes to its Non-QM program guidelines, view PennyMac Announcement 26-30.
Effective with new commitments for Delegated and new commitments or new submissions for non-delegated underwriting, taken on or after March 26, 2026, the Non-QM program guides have been updated. See AmeriHome Mortgage 20260305-CL Product Announcement for details.
Champions Funding rolled out Activator Prime, their newest way to compete on Alt-Doc scenarios without sacrificing flexibility. This is available for primary and second homes. The program provides loan amounts up to $2M, FICOs as low as 680, up to 80 percent LTV, and more.
NewPoint Mortgage is bringing a new approach to non-QM lending making the process smooth and straight forward for their brokers. They are a 100 percent non-QM lender and can close loans most lenders can’t. Some of NewPoint’s products include: ITIN Primary/Investment/2nd Home, DSCR up to 85 percent LTV (purchase with 720 Fico with ratio 1 percent+), Condotel and Non Warrantable Condos, and more.
Brokers First Funding (BFF), a leading wholesale lender specializing in non-agency and non-QM products, is proud to announce new loan limits on its Super Jumbo product, now going to $5M. In addition to a full-doc option, BFF’s Super Jumbo program now offers bank statement documentation as well. move marks a major milestone for the company as it continues to expand its product line, increase its broker network and invest in an enhanced service model designed to elevate the broker experience.
a Mortgage Boutique Announcement 2026-25 provides details about the availability of a new HomeZero Repayable 5 percent 2nd, Guidelines and Overlays have been updated.
Truly Investor Capital’s Professional Investor Advantage program covers 5-10 unit and 2-8 unit mixed-use with competitive DSCR terms. Logan Finance announced recent changes to its Legacy & Open Road Product Suites.
Pennymac updated non-QM LLPAs effective for all best-efforts commitments taken on or after Thursday, March 19, 2026. View Announcement 26-28 for more information.
Champions Funding expanded their O/O Ally No-Ratio Guidelines. With this increased flexibility, loan amounts have been increased to $3M, LTV buckets increased for loan amounts $1.5-$2M, and non-warrantable condos are now eligible.
Champions Funding expanded their DSCR 1-4 Unit guidelines. Changes include interest-only reduced to 660 FICO, no minimum FICO for first-time investors, expanded LTV options across more FICO scores and loan amounts, and more.
eRESI updated product guidelines, effective with locks as of March 16, 2026. Updates include clarifications on sale restrictions listed by the current owner, short term rental LTV reduction, for DSCR only, and clarified acceptable types of short-term rental analysis forms. Additionally, eRESI will now allow the Higher mid FICO of all borrowers/members of the entity when doing a DSCR loan. Refer to the updated guidelines available in the Resource Center on the eRESI Portal.
Capital Markets
Concerns seem to be shifting from the inflationary impact of higher oil prices to concerns over (those same higher oil prices impact on) economic growth and labor market resilience, which helped rates rally to begin the week; the 10-year Treasury yield dropped 10-basis points by the close yesterday. Investors moving money into safer assets and shifts in interest rates are signs that people are getting more worried about how a long-lasting conflict could hurt the economy. Persistently high energy prices are now seen as a potential drag on consumer spending and hiring, especially as wage growth lags and inflation pressures remain elevated, raising doubts about the durability of the labor market that policymakers currently describe as “stable.”
With key employment data releases ahead (namely, the March jobs report on Friday is forecast to show employers added jobs during the month after a drop in February, but that the unemployment rate edged up as more job seekers entered the labor force), investors face heightened uncertainty. You’ve probably heard that word a lot lately. The possibility of deeper U.S. military involvement and an extended war are increasingly dominating sentiment, reinforcing “downside risks to growth,” but now lending support to Treasuries. Fed Chair Powell in remarks yesterday eased some anxiety surrounding potentially tighter Fed policy, reiterating confidence in eventually reaching the 2 percent inflation target.
Today’s month-end and quarter-end session is filled with 2nd tier news that is overshadowed by oil prices and tweets and drone strikes: Redbook same store sales for the week ending March 28, and will be followed by January house prices from Case-Shiller and FHFA, Chicago PMI, consumer confidence for March, Dallas Fed Texas services, some short-duration Treasury auctions, and remarks from at least four Fed speakers (Chicago’s Goolsbee, Kansas City’s Schmid, Governor Barr, and Vice Chair for Supervision Bowman). We begin the day with Agency MBS prices little changed from Monday’s close, the 2-year yielding 3.81, and the 10-year yielding 4.32 after closing yesterday at 4.34 percent.