AMBA Monday Morning News - Week of May 18th, 2026 
Message from the Board
Fellow Alaska mortgage banking professionals,
May is when this business reminds you why you chose it. The longer days, the buyers who finally stopped waiting, the referral calls that pick up -- it has real energy to it, even in years where the rate environment refuses to cooperate.
This spring is one of those years where the conditions are more complicated than any of us would like. Rates are holding in the mid-6% range, inflation is sticky, and geopolitical uncertainty is doing what it always does to bond markets. And yet -- buyers are still moving. Purchase applications nationally are running 7% ahead of last year's pace at this same point. That tells you something real about the underlying demand in this market, and it tells you something about the conversations you're having with clients that are cutting through the noise.
For AMBA, this week carries its own significance. Our 2026-2027 board elections are upon us, and I want to make sure every member company has a seat at the table -- in person or virtually. This association works because you show up for it. Please read the election notice in this issue carefully and contact us to confirm your representative. Your presence is what makes our voice credible.
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
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News From Last Week
AMBA Board elections are this week
AMBA elections for the 2026-2027 season are happening this week. Every member company must have at least one representative present -- in person or virtually. Your company's vote matters and cannot be cast without a designated representative in the room.
Rates hold in Mid-6% as Iran Conflict Clouds market outlook
According to Freddie Mac's weekly survey for the period ending May 14, the 30-year fixed-rate mortgage averaged 6.36% -- virtually flat week-over-week. MBA data for the week ending May 8 had the benchmark at 6.46%, its highest point in five weeks, reflecting upward pressure from elevated Treasury yields tied to stalled U.S.-Iran negotiations and an April Consumer Price Index showing prices up 3.8% year-over-year. Industry economists at Fannie Mae and MBA broadly project rates to settle near 6.30% by mid-year, though that path runs through multiple macro variables, including energy prices, Fed signals, and geopolitical developments that remain unresolved.
Alaska Impact: Mid-6% rates continue to compress affordability in Anchorage, where median single-family prices are running $380,000-$420,000+. Alaska members should be actively revisiting pre-approval pipelines with clients and running updated payment scenarios as rate variance week-to-week remains wider than typical
Purchase applications Rise 4% Week-Over-Week, Running 7% Ahead of Last Year
The MBA's Weekly Mortgage Applications Survey for the week ending May 8, 2026 showed overall application volume up 1.7% after two consecutive weeks of declines. The seasonally adjusted Purchase Index drove that rebound, rising 4% week-over-week and 7% higher than the same week one year ago. MBA Vice President and Deputy Chief Economist Joel Kan noted that buyers "shrugged off current economic and mortgage rate uncertainties and returned to the market," with all major loan types -- FHA, VA, conventional -- posting purchase activity gains.
Alaska Impact: Purchase demand holding above last year's pace is an encouraging sign for Alaska's spring market. Anchorage inventory remains constrained and properties have been moving faster than national averages, meaning members who have buyers ready with pre-approvals are well positioned even against an uncertain rate backdrop.
MBA: FhA Delinquency Rate Hits 11.88% in Q1, VA Also Climbing
The Mortgage Bankers Association's National Delinquency Survey released May 14 shows the overall mortgage delinquency rate rising to 4.44% on a seasonally adjusted basis at the end of Q1 2026 -- up 18 basis points from Q4 2025 and up 40 basis points year-over-year. The stress is concentrated in government loan products: MBA's Marina Walsh, CMB, noted FHA delinquencies reached 11.88%, roughly 900 basis points above the conventional rate, while VA delinquencies hit 4.99%. Foreclosure starts ticked up to 0.24%, a 4-basis-point increase. Conventional loan delinquencies remained relatively flat at 2.75%.
Alaska Impact: Alaska Housing Finance Corporation's own portfolio is a notable contrast: AHFC's May 2026 presentation to the legislature reported a 30-day delinquency rate of just 2.33% and a foreclosure rate of 0.10%, among the best in the nation. Similar number have been shown from the MBA for Alaska performance among numerous lenders. For Alaska lenders with FHA and VA concentrations, the national trend warrants a closer look at early-stage delinquency triggers in your own book.
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!
