Message from the Board

Fellow Alaska mortgage professionals,

Tomorrow is the equinox. After that, Anchorage gives up more than five minutes of daylight a day, and by Thanksgiving most of us will drive to work and home again in the dark.

This is the part of the year when the easy files are gone. What is left is the borrower who said "not yet" in June, the couple who keeps asking whether they should wait, and the first-time buyer who needs to hear the same explanation three times before it lands. None of those conversations will fund in October. They are still the job, and they are a big part of how people in this state end up owning a home at all.

So have them. Call back with a straight answer, even when the straight answer is "not this fall." People remember who told them the truth when it was inconvenient, and a lot of them come back in April.

All the best,

Benjamin Reynolds - President, Alaska Mortgage Bankers Association

Thank you to our AMBA Monday Morning News Sponsor

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Next Luncheon!

NEXT WEEK -- The NAR Settlement, Two Years On

The practice changes took effect August 17, 2024. Two years and six weeks later, AMBA opens the season with an update on where things actually stand, bringing together an industry panel with an agent, a lender, and a title representative on what has worked well and what has not.

Most of the 2024 predictions have now been tested. A Cotality and ResiClub survey conducted in February and March of 2026 found roughly two-thirds of agents reported no significant change in commission levels since the settlement. The appeals are also still live: a three-judge Eighth Circuit panel heard argument in St. Louis on January 14, 2026, with a decision expected in late summer or early fall.

The update covers where the settlement stands and what the practice changes have meant in practice. The panel is the rest of it. Three professionals who sit at different points in the same transaction, comparing notes on what they have figured out since 2024 and where the process still gets rough.

Alaska is a small market. The same people close most of the deals in a given community, which means the practical fixes tend to come from a conversation rather than a memo. This is that conversation, with the whole industry in the room instead of two of us at a closing table.

Who should come:

Loan officers, processors, underwriters, closers, and title staff. Realtor partners are welcome as guests, and this is the meeting of the year to bring one to.

Join our amazing panel of guest speakers:

Moderated by AMBA President, Benjamin Reynolds

Luncheon Schedule:

Doors Open at 11:30 AM
Food Served at 11:45 AM
Meeting Starts at 12:00 PM
Meeting Ends at 1:00 PM

Reminder!!!

All member companies and employees have been added and have an account created. Login using your company email and, if this is your first time logging in, select the "Forgot Password" option to update your password. If there are any issues with logging in, please contact us at [email protected] or Benjamin Reynolds at [email protected].

This Month's Meeting Sponsor:

JOIN US AS A SPONSOR TODAY

Learn more about Catering Sponsorship and Venue Sponsorship by clicking on the appropriate link. Contact us at [email protected] for more information or sign up using the associated registration.

-->Register Today!<--

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News From Last Week

Fed Raises Rates a Quarter Point, Mortgage Rates Push Toward 7%

The Federal Open Market Committee raised the federal funds target range to 3.75% to 4.00% on September 16, a unanimous 12-0 vote, according to the Fed's statement. It is the first increase since July 2023, and updated projections show most officials expect another this year. Freddie Mac's September 17 survey put the 30-year fixed at 6.95%, up from 6.76%, amid elevated inflation readings, higher energy prices, and a 10-year Treasury yield near 5%.

Alaska Impact: Prime moved with this decision, so prime-based construction loans and HELOCs reprice now, and that includes a lot of Mat-Su and Kenai spec builds trying to finish before freeze-up. On the permanent side, $400,000 at 6.95% runs about $2,648 a month in principal and interest, roughly $50 more than a week earlier. Re-run DTI on anything unlocked.

Anchorage Assembly Shelves First-Time Buyer Tax Break on 11-1 Vote

The Anchorage Assembly voted 11-1 on September 15 to indefinitely postpone AO 2026-89, a 10-year property tax exemption for first-time buyers of newly built homes, according to the Alaska Story's September 16 report. The substitute would have covered homes up to roughly $596,400, or 120% of the average assessed value. A companion break for mixed-use projects, AO 2026-93, returns in October. The Missing Middle overlay, AO 2026-85, heard testimony the same night and returns October 6.

Alaska Impact: Price every Anchorage new-construction pre-approval on full municipal and school district taxes. A local builder told the Assembly the break could have equaled about 15% of a qualifying buyer's monthly payment, so any sales conversation that assumed it needs correcting now, before a buyer writes an offer on it. The Legislative Affairs Committee is tracking AO 2026-85 and AO 2026-93.

Alaska Ends August With 900 Fewer Jobs Than a Year Ago

Alaska had 900 fewer jobs in August than in August 2025, a 0.3% decline, the Department of Labor and Workforce Development reported September 18. Private employers added 800 jobs, led by transportation, warehousing and utilities (up 1,300) and oil and gas (up 600). Government lost 1,700, including 1,300 federal jobs. Construction lost 400. The statewide unemployment rate held at 4.3%, against 4.1% nationally.

Alaska Impact: A 1,300-job federal decline shows up first in Anchorage and Fairbanks files with federal civilian borrowers, so re-verify employment close to funding rather than relying on the application-date VOE. The department also tied a 500-job manufacturing drop to weak salmon runs. For Kodiak, Bristol Bay, and Kenai borrowers with seafood-processing income, look hard at the two-year history before you average it.

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Upcoming Events

Save the dates for the 2026-2027 Season!

It's that time of the year where we are able to announce dates for our 2026-2027 season here at AMBA. Dates are subject to change based on availability, speakers, special events, etc. As of August 10th, our upcoming schedule is going to be:

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Welcome New Members!

AMBA has represented Alaska's mortgage industry since 1976. Membership is held by the company, and every person the company names gets a full seat: nine meetings a year - in person at a discount or virtual for free, a directory listing under their own name, committee eligibility including Legislative Affairs, and the Monday Morning News. Individual membership is available to professionals whose employer is not a member company.

Email [email protected] or call (907) 206-7363 to find out how you can join!

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New Job Posts

Hiring in Alaska

AMBA members get access to post directly on AMBA's website for new prospective candidates. Sign in to your member account today to post your latest position.

Currently Hiring:

Senior Production Processor - Global Home Loans

Escrow Officer and Assistant - First American Title

Mortgage Underwriter - First National Bank Alaska

Originator Assistant - Global CU Home Loans

Mortgage Loan Originator - Global CU Home Loans (multiple locations)

Residential Mortgage - Receptionist in Soldotna and MLOs in Anchorage

Thank you to our Career Board sponsor - First Rate Financial!

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