AMBA Monday Morning News - Week of May 11th, 2026 
Message from the Board
Fellow Alaska mortgage banking professionals,
Welcome to mid-May. In Alaska, this is one of those rare, electric stretches of the year when the days are long, the air actually has some warmth in it, and the things you've been working toward start coming into focus. There's a particular energy that shows up in Alaska around this time, and the mortgage business tends to move with it.
For most of us in this industry, spring is when the phone starts ringing again in earnest. Buyers who spent the winter watching rates and waiting for some kind of signal start making decisions. The conversations you've been having with clients who weren't quite ready — now is usually when those conversations turn into applications.
The market isn't perfect and rates aren't where anyone would choose them to be. But they're stable, buyers are adjusting to the reality, and inventory is moving. The professionals who stayed sharp through the slower months are positioned well right now. Keep your pipeline warm, stay close to your clients, and let the season work with you.
Benjamin Reynolds - AMBA President
Thank you to the sponsor of our Monday Morning News
Next Luncheon!
Elections, Awards, and Inspection Findings That Affect Fundings
Close out the season with us at AMBA's final luncheon of the 2025-2026 year — and make it one to remember. This special gathering brings together three milestone moments: our Annual General Election, our Year-End Awards Ceremony, and an educational session from one of the industry's most practical perspectives.
We are proud to present the inaugural AMBA Community Impact Award, recognizing an individual or organization whose contributions to Alaska's communities reflect the values at the heart of our industry. This is a first for AMBA, and we couldn't think of a better occasion to celebrate it.
After the awards and elections, we'll hear from Rob Landers of Home Inspections Plus on a topic every mortgage professional needs to know: Inspection Findings That Commonly Affect Financing. Rob will walk through the most frequent FHA and VA appraisal-required repair issues that can derail a transaction at the worst possible moment — from missing handrails and peeling paint to exposed wiring, broken windows, active leaks, and missing heat sources. Whether you're a loan officer, processor, or closer, understanding what flags an appraiser or underwriter before it becomes your problem is invaluable knowledge to bring back to your team.
Join us for great food, important votes, well-deserved recognition, and a strong send-off to another great AMBA season.
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:
VENUE SPONSOR:
TBD
Catering SPONSOR:
TBD
Virtual Meeting SPONSOR
-->REGISTER TODAY!<--
News From Last Week
Nominate an Individual or Company for AMBA's Inauguaral Community IMpact Award
The Alaska Mortgage Bankers Association Community Impact Award recognizes an AMBA member — individual or company — who has gone above and beyond to strengthen Alaska's communities through charitable giving, volunteerism, housing access, civic leadership, or other meaningful contributions. Nominations are reviewed by the AMBA Board of Directors, and the award is presented at our annual May meeting. We encourage you to nominate someone who exemplifies the best of our industry and our state.
Board nominations for the 2026-2027 Season Are Open
2026-2027 Board Nominations are officially open. Voting will occur at our May Luncheon. Nominations for all positions will be accepted. President, VP, Secretary, and Treasurer positions are limited to Regular members, while Director positions are open to Regular and Affiliate Members. The current incumbents seeking re-election are:
President - Benjamin Reynolds - Cook Inlet Lending Center
Vice President - Sharon Seymour - Leading Edge Lending
Treasurer - Deborah Manfred - Credit Union 1
Secretary - Seat Open
Director (3 Seats Available):
Brad Kiefer - Alaska Commercial Loan Brokers
Stephanie Eddy - AHFC
Seat Open
-->SUBMIT BOARD NOMINATIONS HERE<---
Freddie Mac: 30-Year Fixed Rises to 6.37%, But Housing Market Signals Are Improving
The 30-year fixed-rate mortgage averaged 6.37% for the week ending May 7, up from 6.30% the prior week, according to Freddie Mac's Primary Mortgage Market Survey, as Treasury yields moved higher amid ongoing Middle East tensions and elevated energy prices. The 15-year fixed averaged 5.72%. With no Federal Reserve meeting scheduled until June 16-17, the rate environment is expected to remain range-bound in the near term, driven primarily by bond market dynamics rather than Fed action. Despite the modest rate increase, Freddie Mac economists pointed to improving housing market conditions: new-home sales have picked up in recent weeks, median new-home prices have fallen to their lowest level since July 2021, and for-sale inventory is running higher than in recent years. Together, Freddie Mac noted, these trends "could modestly ease affordability pressures through the spring homebuying season."
Alaska Impact: Alaska buyers and borrowers should plan around rates in the mid-to-upper 6% range through at least the June Fed meeting. For lenders, the combination of higher inventory and lower new-home prices nationally is a positive development worth putting in front of clients who have been waiting on the sidelines. Alaska in particular benefits from FHA, VA, and AHFC programs that can help qualified buyers work within current affordability constraints, and this is an ideal moment to revisit those conversations.
HUD Streamlines FHA Multifamily Environmental Review Requirements, Effective Immediately
HUD's Office of Multifamily Housing Programs issued Mortgagee Letter 2026-04 on May 4, updating the Multifamily Accelerated Processing (MAP) Guide by removing several outdated environmental review requirements. The changes eliminate standalone railroad vibration assessment requirements, revise setback rules for pressurized pipelines and high-voltage transmission lines, and provide new guidance defining noise-sensitive outdoor uses. Per HUD, the changes "align with the Administration's priorities to improve operational efficiency, streamline policies, and reduce unnecessary burdens on industry partners." HUD Secretary Scott Turner said the goal is to "cut outdated requirements, reduce costs and delays, and put FHA financing back to work to support housing production." MBA President and CEO Bob Broeksmit praised the update, saying it rolls back "unnecessary and duplicative provisions." The changes apply immediately to all applications that have not yet reached initial endorsement.
Alaska Impact: For AMBA members working in multifamily or commercial lending, these changes directly reduce the time and cost of environmental review on FHA-insured projects. Given Alaska's documented housing shortage — estimated at 27,500 units needed over the next decade according to Agnew::Beck Consulting — and the ongoing push through HB 184 to expand AIDEA's role in workforce housing financing, lower barriers to FHA multifamily financing could help bring more projects to the start line in Anchorage, Fairbanks, Juneau, and resource development communities across the state.
MBA Weekly Survey: Applications Fall 4.4% as Rates Hit Monthly High; Average Purchase Loan Sets All-Time Record
Mortgage applications decreased 4.4% for the week ending May 1, 2026, according to MBA's Weekly Mortgage Applications Survey, as the 30-year fixed rate climbed to 6.45%, its highest level in a month, amid elevated Treasury yields tied to energy prices and Middle East tensions. The Refinance Index fell 5% from the prior week, while the Purchase Index dropped 4%, though both remain higher year-over-year by 29% and 5%, respectively. The week's standout data point: the average purchase loan size reached $467,300, the highest level in the survey's history dating back to 1990. "Despite purchase applications declining over the week, overall activity remains higher compared to last year's pace," said Joel Kan, MBA's Vice President and Deputy Chief Economist. The record average loan size reflects both persistent home price appreciation across many markets and the increasing presence of move-up and higher-income buyers who are less sensitive to rate fluctuations than first-time buyers.
Alaska Impact: The record average purchase loan size reflects the persistent gap between incomes and home prices nationally, a pattern that shows up in Alaska's Anchorage market as well, where median single-family prices have held in the $380,000-$420,000 range. AMBA members should ensure VA, FHA, and AHFC-assisted products remain prominently positioned in client consultations, as these programs remain the most effective tools for helping qualified Alaska borrowers bridge affordability challenges in the current rate environment. The year-over-year purchase activity gains confirm that underlying demand is real in this market, even as elevated rates continue to moderate application volumes week to week.
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!