The science of persuasion? Any good salesperson, or LO, can talk someone into buying just about anything using scarcity, reciprocity, commitment, social proof, authority, and liking. Here's a good article to share with your loan officers. A good site to review if you want to go to a conference and your company's travel budget is frozen.

Upcoming Events, Conferences, and Training

On August 16th, learn how to navigate through Plaza Reverse Mortgages with Mark Reeve, Plaza's Reverse Mortgage National Director. This webinar will review Reverse Mortgage basics including Plaza's reverse loan programs, the origination process, compensation, recent industry changes, and more.

Would you like to learn more about how to submit condominium loans and help ensure a smooth process with Wells Fargo Funding? Log into the website and locating the access information in the News from Wells Fargo section. Condominium Review Options Webinar includes: Wells Fargo Funding project review options, Helpful tips for choosing the right review options, Available resources, tools and contacts.

Monday the 21st Plaza Home Mortgage is offering up a class on the fundamentals of calculating income for self-employed borrowers from personal and business tax returns. "Recognize cash flow adjustments, what are required deductions and what are allowable add backs. Learn when a Profit and Loss Statement is needed and understand business structures related to Sole Proprietorships (Schedule C), Partnerships (Form 1065), S-Corporations (Form 1120S), Corporations (Form 1120).

Check out the Ellie Mae educational calendar offering in-depth classroom training on topics as broad as Quality Control or Originating FHA loans as well as virtual online classes.

October Research LLC is hosting a "Countdown to HMDA" on Thursday, September 7th for all the latest information to ensure compliance in preparation of January 1st. This educational live event, hosted by October Research, LLC will help you learn what action steps need to be taken in the coming months and what you should be working on right now.

MBA of Southwestern Pennsylvania is kicking off the fall, on September 11th, featuring special guest Dwayne D. Woodruff, former Pittsburg Steeler Cornerback. Join the fun at the River Casino, Andrew's Restaurant from 5:00-8:00 pm. The cost is $55 and includes a dinner buffet and $10 in slot play.

AllRegs by Ellie Mae offer a fabulous class for mortgage newbies. Essentials of Mortgage Banking is a 4-day session covering topics from origination, operations, underwriting, closing, secondary marketing and servicing. Along with a few dozen confusing industry acronyms. The next session begins Sept 19th in Pleasanton, CA so hurry up and register.

Join NEMBC in Newport RI for its annual three-day conference, September 13th-15th, and get the most recent and up-to-date information to help you develop your strategies for success.  Register online for the full conference or one-day programs.

The VLMA is accepting registration for its annual September 21st and 22nd, "Road to Success" convention. Featuring renowned speakers and plenty of networking opportunities all of this at the Hilton Richmond Hotel and Spa.

IMN's Mortgage Risk Management Strategies Forum, scheduled for October 2-3 at the Fairmont in Santa Monica.  The audience will consist of a "Who's Who" of C-Level folks from within Mortgage Originators/Credit Unions (Risk Management/Compliance Professionals), Non-Bank Issuers/Investors, Govt Agencies/GSEs, and various Service Providers/Vendors in the Mortgage industry - please see below for the current attendee list. Contact Matt Gessel for details and possible complimentary passes.

The MBA New Jersey Northeast Conference of Mortgage Brokers and Professionals is scheduled in Atlantic City N.J. on October 9th - 12th. This year's program is chalked full of dynamic speakers, continuing education programs, commercial and residential programs, and a special session that has our industry and legal experts answering your questions in a one-hour session that will be followed by your meeting with each expert at round tables to have face to face discussions about issue important to you.

If you are a professional working in the single-family sector of the real estate finance industry, registration is underway for the MBA Annual Convention & Expo October 22nd-25th in Denver.

Capital Markets

"Risk on, risk off" has been influencing the markets since things with North Korea have been escalating, and yesterday we began the week with improved risk tolerance since there was no additional escalation of tension between U.S. and North Korea. Reports suggest that the U.S. and China are still trying to exert influence through diplomacy and China ending some exports.

It's all but given that the Federal Reserve Open Market Committee will put forth its plan for lessening its balance sheet later this year, and that its members are estimating one more hike in December. But the press doesn't have much else to talk about, so every speech attracts a little attention. The latest example was NY Fed President William Dudley saying that he is in favor of another rate hike in 2017 if the economy evolves as expected. Mr. Dudley added that he expects inflation to move slightly higher and that an announcement about the balance sheet is likely to be made relatively soon.

So, on Monday the 10-year note worsened over .250 in price to yield 2.22%, 5-year notes worsened .125, but agency MBS prices were nearly unchanged - they held in there like champs! This morning we've already had retail sales (+.6%, ex-auto +.5%, stronger than expected), import / export prices (+.1%, +.4%) and the Empire State Manufacturing Survey (more than doubling to 25.2). Coming up is the NAHB Housing Market Index for August from the builders. We start Tuesday with rates higher than Monday's close: the 10-year is yielding 2.28% and agency MBS prices are worse .125-.250.

Jobs and Products

"Let's talk market share as it relates to 'Brand Awareness.' Android and Apple control over 90% of worldwide mobile platform market share. Uber and Lyft, relatively young companies, own over a 70% ridesharing market share in the US. The moral of the story: when technology begins to disrupt an industry, consumer behavior drives major consolidation in industry brands. Over the past 12 months, according to Corelogic figures, the top 10 US mortgage companies owned only 20-23% market share combined. Concurrently, technology is beginning to disrupt our business in a big way. It's not surprising that loanDepot has come through its major technology investment and begun the strongest national brand campaign, including national TV exposure, we've seen from a retail mortgage lender in years. You can click here to see its first commercial. Since launching the campaign on May 1st, loanDepot has experienced over 1,250,000 unique website visitors attributed to the campaign alone. Branding is tough, and as loanDepot and other industries have shown, you must go all in if you expect to win. Contact Cassidy O'Sullivan to learn more!"

"Tired of always worrying if rates go up another tick or two today, and that it kills a couple of your deals?  Worried about how to always re-invent yourself? Maybe it's time to make the transition to becoming a Reverse Mortgage Specialist.   Daily rate changes, don't hurt you the same way as forward mortgages. Business still thrives and it's thriving today! Specializing in Reverse Mortgages is a great life. The Reverse Mortgage Specialists at RFS have that great life.  No more waking up in the morning wondering where to go network or if there are already a bunch of MLOs already in that networking group. Because the Reverse Mortgage Specialist is rare and valued. If you are ready to make the transition in your business and start introducing your book of business to the next stage of mortgages for your aging client base, talk to us. RFS a premier Reverse Mortgage Bank with unparalleled training and support. RFS is all about building your brand and your business, not the other way around.  We truly want you to make a lot of money. Unusual? Yes, it is: contact us at 858-355-7398."

Freedom Mortgage is very pleased to welcome David McPherson to its Wholesale Lending Division as the Regional Manager of the Northwest Region. David has over 25 years' experience in Wholesale, Correspondent, and Branch Management and will play a key role in helping to grow market share and manage profitability. With his strong track record of growing sales and contributing to company goals, David will be an exceptional addition to Freedom Mortgage.  David is actively recruiting experienced top-producing Wholesale Account Executives in the OR, WA, ID, MT, WY, CO, UT, NM and AK markets. To learn more or to join our team, please contact David at (360) 901-3266, or email him. Freedom Mortgage is a top 10 national lender with over 25 years serving customers and is licensed in all 50 states. 

"You spend your time, talent, and expertise getting loan applications and taking care of your borrower. You've earned their trust. What you need now is a company that will back you up; a company who understands what it takes to get where you are now. A company that knows how to get loans closed on time. That's Assurance Financial. We're growing, and we're looking for the best and brightest to grow with us. Will it be you? We hire the best, and we compensate well. If that's you, call Sales Recruiting Manager Paul Peters, CMB at 225-239-7948 or visit LendTheWay.com/Careers . It's just a phone call, but it could change the way you think about your work."

Western Bancorp, a Silicon Valley-based tech-enabled wholesale originator, is pleased to announce that it has joined the Eli Global family of companies. Eli Global is a privately held, multinational investment firm that has created a loose confederation of autonomously managed and entrepreneurial businesses serving a wide range of industries. Eli Global makes long-term investments in entrepreneurs and provides capital for growth. "With Eli Global as our new capital partner, we will grow our wholesale origination footprint, enter into new channels and make strategic investments in technology that will allow us to become a leading innovator in the wholesale mortgage fin-tech revolution." - Rick Soukoulis, Founder of Western Bancorp. Rick Soukoulis has a long legacy of developing innovative technology, and with the support of Eli Global, Western Bancorp expects to rapidly expand its wholesale origination volume, develop technologies to support a frictionless broker experience, and improve workflow processes. Rick and the existing leadership of Western Bancorp will run the business as an independent operating entity within the Eli Global family.

"Tired of always worrying if rates go up another tick or two today, and that it kills a couple of your deals? Worried about how to always re-invent yourself? Maybe it's time to make the transition to becoming a Reverse Mortgage Specialist. Daily rate changes don't hurt you the same way as forward mortgages. Business still thrives and it's thriving today! The Reverse Mortgage Specialists at RFS have that great life. No more waking up in the morning wondering where to go network or if there are already a bunch of MLOs already in that networking group. Because the Reverse Mortgage Specialist is rare and valued. Talk to us if you are ready to make the transition in your business and start introducing your book of business to the next stage of mortgages for your aging client base. RFS a premier Reverse Mortgage Bank with unparalleled training and support. RFS is all about building your brand and your business, not the other way around.  We truly want you to make a lot of money. Unusual? Yes, it is. Contact us at 858-355-7398."

National mortgage lender Waterstone Mortgage Corporation announced Dan Spaulding has joined the company as the regional vice president of retail production responsible for overseeing operations and retail growth throughout the Midwest.