AMBA Monday Morning News - Week of June 8th, 2026 
Message from the Board
Fellow Alaska mortgage banking professionals,
June brings longer days, a fuller pipeline, and a return to your Monday mornings. After a two-week break following our May Luncheon, the Monday Morning News is back in your inbox, and we are glad to be here.
The summer months are a bridge. Elections are behind us, and the incoming board confirmed at the May Luncheon will take the reins in September for the 2026-2027 year. Between now and then, there is plenty of work to do on your behalf, and this association will be right here with you through every week of it. We head into summer with good people in place and a clear sense of where this organization is headed.
The Alaska market has a rhythm of its own this time of year. Buyers who waited out the spring rate swings are starting to move, inventory is holding better than in prior years, and the conversations you plant now can carry well into fall. Stay close to your clients, know the programs that work in this state, and bring those relationships into the season with you. This is a good time to be in this business in Alaska.
Benjamin Reynolds - AMBA President
Thank you to the sponsor of our Monday Morning News
News From Last Week
30-YEAR MORTGAGE RATE HOLDS AT 6.48% AS FED PREPARES JUNE HOLD
Freddie Mac's weekly Primary Mortgage Market Survey released June 4, 2026, placed the 30-year fixed-rate mortgage at 6.48%, a half-point climb since rates briefly touched 6% in February. The Federal Reserve is widely expected to leave its federal funds rate unchanged at the 3.50%-3.75% range when it meets June 16-17, according to CME Group's FedWatch tool, which placed the odds of no action at approximately 99%. MBA weekly survey data for the week ending May 29 showed mortgage applications down 2.5%, with MBA Deputy Chief Economist Joel Kan noting that purchase applications were at their slowest weekly pace since April and refinance activity at its weakest since last June, despite a slight rate dip tied to easing energy prices.
Alaska Impact: With rates unlikely to shift materially before fall, Alaska mortgage professionals should be actively walking clients through rate-shopping strategies. According to Freddie Mac research, borrowers who apply with multiple lenders in a high-rate environment can save between $600 and $1,200 annually. That is a conversation worth having with every active buyer in your pipeline.
AMBA MEMBERS CONFIRM 2026-2027 BOARD OF DIRECTORS AT MAY LUNCHEON
At the Alaska Mortgage Bankers Association's May 2026 Luncheon, members voted to seat the association's 2026-2027 leadership team. Benjamin Reynolds, Residential Lending Manager at Cook Inlet Lending Center was re-elected as President and Sharon Seymour, Owner/Originator at Leading Edge Lending, as Vice President. Deborah Manfred, VP of Real Estate Lending at Credit Union 1, was re-elected as Treasurer. Christina Bean, AVP, Regional MLO Lead at First National Bank Alaska, was elected as the incoming Secretary, bringing new perspective to AMBA's officer team. Among directors, Brad Kiefer, Owner/Originator at Alaska Commercial Loan Brokers, and Stephanie Eddy, Underwriting Officer, Mortgage at Alaska Housing Finance Corporation, were both re-elected to their board seats, and Vicky Harrell, Escrow Officer at Alyeska Title, joins the board as a newly elected director.
Alaska Impact: The 2026-2027 board combines continuity and fresh voices at a time when Alaska mortgage professionals face a full plate of regulatory, market, and advocacy challenges. Members are encouraged to reach out to board representatives directly with ideas, concerns, or priorities they want AMBA to carry forward into the new season.
VA PARTIAL CLAIM PROGRAM OPENS JUNE 15, GIVING SERVICERS A NEW TOOL FOR VETERANS IN HARDSHIP
The Department of Veterans Affairs finalized its partial claim program last week, with servicers authorized to begin submitting trial payment plans starting June 15, 2026, according to the VA announcement covered by MBA Newslink. The program was established under the bipartisan VA Home Loan Program Reform Act, signed in July 2025, and replaces the expired VASP program that left a gap in loss mitigation options for delinquent VA borrowers. Under the new structure, the VA can advance funds to cover missed payments and attach the deferred balance as a subordinate lien, allowing qualifying veterans to bring their loan current without an increase in their monthly payment. Servicers have until November 28, 2026, to fully integrate the program into their systems.
Alaska Impact: Joint Base Elmendorf-Richardson is the largest employer in Anchorage, and Alaska's active-duty military and veteran population drives consistent demand for VA-backed financing across the state. Servicers and VA lenders in Alaska should prioritize reviewing the new loss mitigation waterfall and begin preparing their teams for June 15 implementation. Borrowers can reach VA loan technicians at 1-877-827-3702 for guidance.
MAY JOBS REPORT BEATS FORECASTS AT 172,000, KEEPING FED RATE CUTS OFF THE TABLE FOR NOW
The U.S. economy added 172,000 jobs in May, more than doubling pre-report economist forecasts of roughly 80,000 to 85,000 new positions, according to the Bureau of Labor Statistics Employment Situation report released June 5, 2026. The unemployment rate held steady at 4.3%, and prior months were revised upward by a combined 93,000 jobs, including March rising from 185,000 to 214,000. Leisure and hospitality led gains with 70,000 new positions. Financial activities shed 22,000 jobs in May and is now down 107,000 from its May 2025 employment peak. Ellen Zentner, chief economic strategist at Morgan Stanley Wealth Management, said the data leaves the Fed "watching and waiting, focused on the inflation side of its mandate," adding that rate cuts are not on the near-term horizon but that the absence of inflationary signals in the report should quiet talk of a potential hike.
Alaska Impact: Strong national employment generally supports buyer confidence and purchase activity heading into summer. However, the continued contraction in financial sector employment, which includes mortgage origination and related roles, underscores a competitive and lean staffing environment that many Alaska mortgage operations are already managing.
CFPB REVISED SECTION 1071 RULE TAKES EFFECT JUNE 30, COMPLIANCE DEADLINE SET FOR JANUARY 2028
The Consumer Financial Protection Bureau's revised small business lending data collection rule, the 2026 Section 1071 Final Rule published May 1, 2026, becomes effective June 30, 2026, according to CFPB Federal Register documentation. The updated rule significantly narrows the scope of the 2023 original, raising the coverage threshold from 100 to 1,000 small business originations annually over two consecutive calendar years, reducing required data fields to a tighter set with direct statutory grounding, and setting the initial compliance date at January 1, 2028, with a one-year grace period running through December 31, 2028. In the rule's preamble, the CFPB described the approach as incremental, pointing to HMDA's gradual 50-year evolution as the model for building a long-term small business data collection regime.
Alaska Impact: Community banks, credit unions, and independent mortgage banks in Alaska should confirm their small business origination volume to determine whether the 1,000-loan threshold applies. Institutions approaching that level in 2026 or 2027 will need to begin data collection on January 1, 2028. The narrower scope and longer runway give compliance teams substantially more preparation time than the 2023 rule allowed.
Welcome New Members!
AMBA welcomes all Alaska mortgage banking professionals to join our growing community. Membership provides access to industry advocacy, professional development opportunities, networking events, and regular market intelligence updates tailored specifically to Alaska's unique market conditions.
2025-2026 Membership Benefits Include:
- Voice in state legislative advocacy through our new Legislative Affairs Committee
- Monthly educational sessions and industry updates
- Professional networking opportunities with Alaska mortgage banking leaders
- Access to Alaska-specific market data and trends
- Discounted rates for industry events and conferences
Contact AMBA at (907) 727-1076 or [email protected] to learn about Regular, Affiliate, Non-Profit, and Individual membership options. Visit alaskamba.org for complete membership information and dues structure. Join us in advancing Alaska's mortgage banking industry!
New Job Posts
Check out these careers!
Our Career Board is now available! Take a look at some of the new positions below:
Residential Lending Manager - Matanuska Valley Federal Credit Union
Loan officer Assistant - Raven Mortgage
POST YOUR JOB TODAY USING YOUR MEMBER ACCOUNT!
