Message from the Board

Fellow Alaska mortgage professionals,

Anchorage is in the brown part of October. The birch leaves are down along the Coastal Trail, the lawns have given up, and the first real snow still has not come. Everybody is waiting on it. The bikes are still out on the trail, and most of the winter tires are still in the garage. We are losing more than five minutes of daylight a day, and the mornings feel it.

This is the stretch of the year when the work gets quieter and harder at the same time. A buyer who would have signed in a weekend in June needs three conversations now. A seller who listed in August is starting to wonder what went wrong.

That is where loan officers, processors and closers earn the reputation that carries them into spring. Nobody remembers who was busy in July. They remember who called back in November.

Use the in-between weeks. Make the calls now, while the roads are still easy.

All the Best,

Benjamin Reynolds - President, Alaska Mortgage Bankers Association

Thank you to our AMBA Monday Morning News Sponsor

Back to top

Next Luncheon!

THIS WEEK!!! The Mat-Su Tax Ballot: What Propositions B, C and D Mean for Your Files

Mat-Su voters decide November 3 whether the borough gets its first areawide sales tax. If Proposition C passes, owner-occupied homes in the Valley can apply to take $75,000 off their taxable value, and a 1% tax at the register pays for it. Cheyenne Heindel, the borough’s finance director, ran the numbers. On October 21, thirteen days before the vote, she walks you through them.

Three of the four propositions on the Mat-Su ballot involve money. Proposition B adds a 5% tax on retail alcohol sales starting April 1, 2027. Proposition C pairs the 1% sales tax with the $75,000 property tax exemption. Proposition D gives the borough areawide power to buy right-of-way and build roads, which the borough’s own explainer says could add pressure on areawide property taxes once projects are approved.

Proposition C is the one that reaches your files. The borough projects about $21 million a year from the sales tax and a $12 million to $15 million drop in property tax revenue, depending on how many homeowners apply. That last part matters: the exemption takes an application. It also does not stack. A homeowner already on a senior or disabled veteran exemption gets no added relief and still pays the sales tax.

Heindel will cover what each proposition does, when it would take effect, and what it changes on a Valley tax bill. Bring the questions your borrowers are already asking. When does a new exemption first show up in an escrow analysis? What happens at closing when the seller had the exemption and the buyer hasn’t filed? Why does a renter in Wasilla pay the tax but get none of the break?

Working in Anchorage, Fairbanks or Soldotna? Mat-Su property owners paid 8.485 mills areawide last year, and the Assembly spent most of 2026 arguing about how to move some of that off homeowners. Every Alaska borough leaning on property tax faces the same question. This is a worked example with real numbers attached.

AMBA takes no position on any of these propositions. Heindel is presenting the borough’s analysis, and the vote is yours. Join us in the Valley or on Zoom.

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

LOCATION:

Mat-Su Visitor Center - Susitna Room
2764 S E Matanuska Spur
Palmer, AK 99645

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!<--

Back to top

News From Last Week

Tri-Merge Stays for Now After FHFA Skips Expected Credit Announcement

FHFA Director Bill Pulte canceled his October 12 session at MBA's Annual Convention in Chicago, where Bloomberg had reported he would announce bi-merge credit reports for Fannie Mae and Freddie Mac. HousingWire reported the rescheduled virtual session was dropped too. In posts on X on October 17, Pulte said FHFA is studying one or two credit reports and expects to decide on LLPA changes before year end. No guidance has been issued.

Alaska Impact: Keep ordering tri-merge reports and disclose credit fees at today's cost; nothing changes until Fannie and Freddie publish dates. Pulte told HousingWire his travel was tied to new housing funds for Alaska, Arizona and Montana. FHFA has released no program details, so do not quote anything to a borrower in Wasilla or Fairbanks until terms are published.

Alaska Adds 300 Jobs Over the Year as Federal Payrolls Shrink

The Alaska Department of Labor reported October 16 that September's statewide job count was 300 higher than a year earlier. Private employers added 2,200 jobs, led by transportation, warehousing and utilities (900), construction (600) and oil and gas (400); health care and other services each added 300. Government lost 1,900, including 1,300 federal jobs. The seasonally adjusted unemployment rate was 4.3%, against 4.2% nationally.

Alaska Impact: A year-over-year loss of 1,300 federal jobs touches borrowers in Anchorage, Fairbanks and Juneau. On any file with a federal civilian borrower, run the verbal verification of employment as close to closing as your investor allows. Construction and oil and gas gains mean more seasonal and rotational income on 1003s this winter; document two years of history before counting it.

Fannie Mae Raises Allowable Foreclosure and Bankruptcy Attorney Fees for 2027

Fannie Mae's Servicing Guide Announcement SVC-2026-06, dated October 14, raises maximum allowable foreclosure attorney fees in every jurisdiction and increases bankruptcy fees across all chapters. The new fees take effect January 1, 2027, for every matter still active that day, regardless of referral date. Servicers must also pull the Do Not Send 1099-C list from Fannie Mae Connect by the tenth business day of January, effective January 15, 2027.

Alaska Impact: Alaska banks and credit unions that keep servicing in house should hand the new fee exhibit to their foreclosure counsel before January 1. Most Alaska foreclosures run nonjudicially under a deed of trust, so check which line of the exhibit your attorney bills against. Put the 1099-C deadline on the January calendar now.

30-Year Holds at 7.40% While September Inflation Runs Hot

According to Freddie Mac's October 15 survey, the 30-year fixed held at 7.40%, ending seven straight weekly increases; the 15-year eased to 6.71%. BLS reported October 14 that September CPI rose 0.6% for the month and 3.7% over the year. MBA's October 14 survey showed applications down 2.7%, a 7.50% contract rate and a 10.5% ARM share. Realtor.com's Jiayi Xu said the core reading supports another Fed hike by December.

Alaska Impact: AHFC's October 16 rate sheet listed First Home Limited at 6.625% for 30 years, so screen first-time buyers for it before quoting conventional. MBA (October 11) and Fannie Mae (October 16) both project 30-year rates above 7% into 2027. A buyer waiting for spring should hear that plainly, with the caveat that forecasts move.

FHA Opens Multifamily Insurance to Build-to-Rent Detached Communities

HUD's Mortgagee Letter 2026-12, effective immediately on its October 14 release, lets FHA-approved multifamily lenders insure build-to-rent communities of detached homes, duplexes and triplexes under Sections 221(d)(4) and 223(f). Projects need at least five rental units on one contiguous site, professional management and no sale of individual lots during the loan term. Refinances under 223(f) require a certificate of occupancy less than three years old.

Alaska Impact: This is a multifamily program and does not change FHA single-family lending. For builders in the Mat-Su and Anchorage weighing rental subdivisions, it adds a long-term fixed-rate exit. HUD will defer to the local building department on codes, and expects at least 7% vacancy on market-rate projects. Refer interested developers to a MAP lender.

Back to top

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:

Back to top

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!

Back to top

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!

Back to top