AMBA Monday Morning News - Week of October 5th, 2026 
Message from the Board
Fellow Alaska mortgage professionals,
October is the month Anchorage gives back about five and a half minutes of daylight every day, and by now most of us are driving to work and home again in the dark. The files feel heavier in that light. The ones still open are the hard ones: the self-employed borrower in Homer whose two years of returns don't agree with each other, the cabin on a road the appraiser won't drive after freeze-up, the couple who wrote three offers this summer and lost all three.
Those are the files that make a career. Anybody can close the clean ones. What people in this state remember, years later, is the person who found the answer on a file everyone else had quietly given up on.
So pick one of those this week and give it an hour with fresh eyes. If you get stuck, call someone in this association who has seen it before. Most of us have. Most of us will pick up.
All the best,
Benjamin Reynolds - President, Alaska Mortgage Bankers Association
Thank you to our AMBA Monday Morning News Sponsor
Next Luncheon!
THIS WEEK!!! -- The NAR Settlement, Two Years On
This month, AMBA heads to the Valley.
Details are forthcoming, but if you would like to be involved in the content or sponsorship of broadening the Association's reach across the state, please contact us at [email protected] or 907-206-7363.
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.
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News From Last Week
Lenders Not Ready for UAD 3.6 Can Request a One-Time Exception
Fannie Mae and Freddie Mac announced a one-time policy exception September 30, in coordination with FHFA, according to Fannie Mae Lender Letter LL-2026-08 and Freddie Mac Bulletin 2026-J. The November 2 UAD 3.6 mandate stands. Direct sellers that cannot meet it may keep submitting UAD 2.6 appraisals through May 19, 2027, after requesting the exception from each GSE and committing to a final implementation plan. Starting March 1, 2027, UAD 2.6 reports lose collateral rep and warrant relief on value.
Alaska Impact: The exception belongs to lenders, not appraisers, so the same Fairbanks or Kenai appraiser may take 3.6 orders from one client and 2.6 orders from another until May. Brokers should ask each wholesale investor this week which format it will order after November 2. Non-direct sellers are not required to request the GSE exception themselves; they should follow their investor or aggregator's implementation plan.
Assembly Weighs Where Thousands of Incoming JBER Personnel Will Live
Anchorage officials expect about 2,500 additional service members, plus their families, at Joint Base Elmendorf-Richardson, the Anchorage Daily News reported September 27. Federal spending on the base could reach $7 billion over several years, and on-base barracks will house only junior personnel. Local economic-development forecasts have put the private-sector housing shortage near 3,500 homes as JBER expands. Testimony on the Missing Middle overlay, AO 2026-85, continues at tonight's October 6 Assembly meeting.
Alaska Impact: ADN reported monthly housing allowances from $1,700 to $4,161, and JBER said no Department of Defense dollars are currently on the table for off-base housing development in Anchorage. Lenders in Anchorage, Eagle River, and the Valley should expect the potential for more PCS-related and VA activity, often from buyers who have never priced heating oil or a crawlspace. The Legislative Affairs Committee is tracking AO 2026-85.
FHFA Puts Fannie, Freddie on One Pricing Grid as Bi-Merge Looms
FHFA Director Bill Pulte said September 28 that Fannie Mae and Freddie Mac will price Classic FICO and VantageScore 4.0 loans on one grid, Bloomberg Law reported. Fannie Mae's LLPA matrix, updated September 30, already aligns the two for loans delivered on or after October 1. Bloomberg reported October 1, citing one person familiar with the plans, that FHFA may direct the GSEs to accept two-bureau credit reports, possibly October 12. FHFA had not announced that as of October 6.
Alaska Impact: Keep tri-merge on every file until your investor says otherwise. Then ask your credit vendor and LOS administrator how quickly they can support the change, because a two-bureau report could change score availability and pricing outcomes. For a thin-file borrower in Bethel or Nome, a missing bureau could mean a missing score.
Freddie Mac Puts the 30-Year at 7.28%, Highest Since 2023
Freddie Mac's October 1 survey put the 30-year fixed at 7.28%, up from 7.03% a week earlier and the highest since November 2023. The jump came as a bond-market selloff pushed the 10-year Treasury yield above 5.2%. The Fed had raised its target range a quarter point on September 16, to 3.75% to 4.00%. MBA's September 30 survey showed applications down 6%, and BLS data released October 2 later showed September payrolls up just 29,000.
Alaska Impact: On a $415,000 Alaska home with 20% down, the weekly move adds about $56 a month to principal and interest, and about $138 against August's 6.66% average. Review lock-extension and float-down options where available. For floating or newly repriced files, recheck qualification on any borrower whose DTI was already close to the program limit.
AHFC Seeks State Land in Three Boroughs for New Housing
Alaska Housing Finance Corporation announced October 2 that it is pursuing proposed transfers of state-owned land from the Department of Natural Resources in the Fairbanks North Star, Kenai Peninsula, and Matanuska-Susitna boroughs. Six parcels received DNR Preliminary Decisions in July and have finished public review, with more decisions expected in early 2027. The effort follows AHFC's Lands to Housing Catalyst, which bought 11 parcels, about 600 acres, for roughly $8.5 million.
Alaska Impact: AHFC says no parcel is guaranteed to produce housing; each needs local planning, infrastructure, and a builder. Lenders in Fairbanks, Soldotna, and Wasilla who do construction or lot loans should sign up for AHFC's land updates now, so builder relationships are already in place if a parcel moves.
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:
- October 21, 2026 - AMBA in the Valley
- November 18, 2026 - VA Loans: The Myths, the Tricks, and the Files That Actually Close
- December 16, 2026 - Save the Date
- January 20, 2027 - 2026 Division of Banking and Securities Update w/ Tracy Reno and Autumn Miller
- February 17, 2027 - Save the Date
- March 17, 2027 - Save the Date
- April 21, 2027 - Ken Perry w/ Knowledge Coop on AI and Compliance
- May 19, 2027 - Save the Date
We have also made an update to this year's events. Along with a member discount on all events for this year, all named individual members will have free access to our virtual sessions! AMBA wants to make it even easier for members to join across Alaska and be a part of the conversation monthly.
That being said, renewal season is here. Membership renews September 1, 2026. Pricing has remained the same this year, however we will be moving our billing back to the beginning of September for everyone. Our experiment of annual billing caused tracking to be all over the place for the year and with a small volunteer board so we will be moving our main billing back to the beginning of the season and all new memberships throughout the year will be automatically prorated. Members that did have memberships later in 2026 will have their updated dues adjusted.
Rates and bands for 2026-2027:
The Board will be reaching out to members to confirm the bands for this year and will have invoices out by August 18th for renewal before September 1st. To add named seats, change a coordinator, or ask about your band, email [email protected] or call (907) 727-1076.
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!
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
