I have received this from enough people I figured I’d pass it along. “It is a well-known fact that those people who most want to rule people are, ipso facto (by that very fact or act), those least suited to do it. To summarize the summary: anyone who is capable of getting themselves made President should on no account be allowed to do the job.” So opined Adam Douglas in his book "Hitchhikers Guide to the Galaxy."

Upcoming events of note? You bet there are - many are absolutely free.

American Mortgage Law Group, P.C. (AMLG) continues its joint complimentary webinar series this fall with two new upcoming webinars. On Thursday, October 13, AMLG and The Mortgage Collaborative will be co-hosting a webinar on "Fair Lending: What You Need to Know in 2016." On Wednesday, October 19, 2016, AMLG and The Community Mortgage Lenders of America will be co-hosting a webinar on"Preparing for a CFPB Examination: Critical Information for Mortgage Originators and Servicers." Stay tuned for additional webinars on timely topics such as recent spikes in repurchase activity from Citi, EMC Mortgage, ResCap/RFC and related developments in residential mortgage litigation. For more information on these topics, please contact AMLG Managing Member James Brody.

Set your loan officers up for success in 2017! Lenders One is launching a program designed exclusively for its members to increase production. With best practices from several top 200 originators and sustainable sales strategies led by key industry veteran, Steve Scanlon, originators will participate in experiential exercises to transform their work culture. Attendees will not only walk away with the mindset of a world class originator, but also a business plan focused on increasing production in the new year. Click here to secure a spot for this December 8-9 workshop in San Diego! Interested in learning more? ContactSusan Malpocker. Interested in membership with Lenders One? Contact Michael Kuentz.

Sierra Pacific Mortgage is helping to "keep the real estate community safe" with information in its monthly Market Power series. In this free webinar, open to all, the facilitator focuses on understanding situational awareness, staying safe at an Open House or when showing a home. Sign up for this safety event on Thursday, October 13 at 10:00 am PDT. You can click here to register today. If you're not convinced you should attend, check out the video that Kelli Brookman, our Director of Coaching and Development, made about joining this important session. Feel free to pass it along. 

On October 13 the Brookings Institute will hold an event in Washington, D.C. titled: "How to make fintech work for all Americans."  Speakers include industry representatives and an FDIC representative.  Brookings describes the event as "a conversation about the effects of the fintech boom, with a particular focus on regulation and public policy.

Data Facts is hosting a webinar next Wednesday, 10/19, at 11AM ET, 8AM PT, on the trends that will affect lending practices throughout 2016 into 2017. Grabbing the headlines for residential lenders, there are plenty of issues lenders must watch. I am privileged to help host this webinar where we will discuss interest rates, the election, "Know Before You Owe" issues, the merger and acquisition environment, marketing service agreements, the continuing QM versus non-QM discussion, measuring borrower satisfaction, and MORE! Loan officers, closers, lending compliance officers, processors, and mortgage managers can all benefit.

Hoping for a free webinar on Mobile Marketing? Join California MBA on October 19^th for its California Mortgage Technology & Marketing Committee Webinar.

MMLA has events coming your way... West Chapter Event: October 20^th Failing to Success.

Mid Chapter Breakfast Meeting on October 20^th.. 87^th Annual MMLA Presidents Installation Banquet on November 10^th.

On October 20^th, gain insight into the next biggest change affecting the mortgage industry and be sure your organization is fully prepared. Attend Ellie Mae's webinar to review the new URLA including the new forms and new data set. 

In Observance of Cybersecurity Awareness Month, FFIEC has announced various webinars in a press release.

The Realtors Conference & Expo scheduled for November 4-7, is heading to Orlando. To register, contact Sara Wiskerchen (202-383-7515) or visit REALTORS site for details.

And the vendor segment is alive and well, with new products coming out, as well as lenders and investors rolling out their own.

Here's a new one. "'If every loan application had a talk'uments tutorial, our job would be done,' to paraphrase a regulator from the Consumer Finance Protection Bureau. In its simplest form, talk'uments is an interactive, personalized, mortgage loan tutorial available to borrowers from loan application to loan closing. Mortgage lenders use the technology to educate loan applicants on all aspects of their home loan, including loan features, benefits, risks, payments, paperwork/disclosures, process, costs and borrower responsibilities. Talk'uments tracks borrower behavior, such as keystrokes, web pages visited, FAQ's and stores this information along with borrower answers to product knowledge questions and attestations to produce an "Informed Borrower Certificate." The use of talk'uments cuts compliance/legal costs, improves loan quality, reduces regulatory enforcement actions and fines and increases production by providing what consumers want - interactive mortgage loan information and a better understanding of their loan disclosures. Talk'uments is the first of its kind in the field of borrower facing interactive educational technology. For more information or to visit with talk'uments at the national MBA conference contact George Baker.

Brokers are looking at a new product from American Financial Resources, Inc. (AFR), an approved Fannie Mae Seller/Servicer and Freddie Mac seller/servicer, "which can help brokers to offer the kind of service their customers expect. AFR's MyLoanCenter is a FREE, white-label technology solution that will streamline the way brokers communicate with their customers, offering customizable options to provide optimal service. Complete with real-time updates, innovative features, and mobile-friendly experiences, it can help brokers better manage their customer relationships and keep track of important transactions. (AFR launched the platform a few weeks ago, and will have a second rollout at the Northeast Conference of Mortgage Brokers & Professionals, October 17^th - 20^th in Atlantic City, NJ.)

Impac has a home buying program that provides an opportunity for foreign national borrowers with a flexible alternative documentation program with realistic guidelines to help them qualify. Some highlights include borrowers can qualify with full documentation OR assets only, no work visa required, no income documentation required for asset qualification, and no visa required when borrowers are residents of countries that participate in the Visa Waiver Program.

Available today, October 11^th, NYCB is offering a new Jumbo 30 Year Fixed solution featuring LTVs up to 85% and no mortgage insurance requirements.

Did you know you can manage your pipeline on-the-go with Stearns SNAP2! Whether you are looking to check the status of a loan, review loan conditions, or price a loan through the PriceIt engine, you can do all that and more through your Smartphone or Tablet device.

United Wholesale Mortgage (UWM) is driving a new streamlined approach in the wholesale mortgage industry, introducing new technology that enables mortgage brokers to receive automated income verification for borrowers and allows them to avoid the hassle of obtaining hard copies of W2 forms, 30-day paystubs and other documents needed for loan approval. UWM's automated income verification tool enables borrowers and brokers to "go doc-less" as they navigate the loan process, allowing brokers to submit applications without waiting for supporting income documents from borrowers. The tool applies to all of UWM's conventional products and is available for purchases and refinances. Currently applicable solely to W2 borrowers, future phases of automated income verification will be made available to many self-employed borrowers.

myCUmortgage announced that it has launched its new mortgage servicing operation. For nearly 15 years, myCUmortgage has helped credit unions help their members with home ownership through mortgage lending programs. Now, the wholly-owned subsidiary of Wright-Patt Credit Union is taking the same approach with mortgage servicing. Credit unions are limited in their choices for mortgage loan servicing. They can either choose to service the loans internally, which can be challenging, or find a sub-servicer. By building its own mortgage servicing operation, myCUmortgage can now use its member-focused approach to help credit unions service their members' mortgage needs. Looking for more information? Click here.

Dart Appraisal announced an integration with CalyxSoftware's Point/PointCentral systems. Originators using Point/ PointCentral systems will be able to seamlessly order, manage and receive final delivery of nationwide residential appraisal products and documents directly within the Calyx system.

Ditech announced the availability to originate and close VA Home Loans under a non-delegated partnership. The VA loans will be originated and guaranteed under the framework of VA's Agent - Sponsoring Lender relationship. Approved clients must have their own unique 10-digit VA Lender ID number and order VA Case Numbers though VA's WebLGY application system. In addition, VA appraisals for Purchase and Cash-out Refinance transactions must be ordered through the VA WebLGY system. When entering information into WebLGY, please enter ditech's Sponsor Identification Number 6393140000 andvaappraisalreview@ditech. com as one of the emails for notification regarding the appraisal.

Ditech's Piggyback Closed End Second EE Product underwriting guidelines are being updated, effective October 1^st. Click here to access its website.

The long-awaited and oft-discussed residential mortgage eClosing has become a reality in North Carolina. Residential Mortgage Corp. and real estate technology provider Pavaso have enabled a North Carolina resident (Jacqueline Vaz) to complete the first residential "eClosing" in state history. Pavaso is a disruptive mortgage closing technology developer and the creator of the industry's most robust eClosing platform. The otherwise traditional home closing was made historical by Residential Mortgage Corp's use of the Pavaso Digital Close^TM solution, through which the traditionally hefty package of documents was digitally delivered to the buyer three days before closing.  This provided the time to review each document online to understand them and ask questions prior to closing.  At the closing table, she was able to digitally sign all documents, with exception of the few documents by state law and investor requirements that required a "wet" signature.  Each wet-signed document was automatically barcoded when printed from Pavaso's system so that, upon the physical signing of the required documents, the forms could be digitally scanned and imported back into the system.  From there, the Pavaso system would automatically sort, file and store the pertinent information electronically.

ALTA adopted and released a new assessment reporting tool for the ALTA Title Insurance and Settlement Company Best Practices. Its new Best Practices Maturity Model helps companies identify areas of their policies and procedures that can be enhanced to better meet the Best Practices. To use the Maturity Model, a company must first test their policies and procedures with the ALTA Title Insurance and Settlement Company Best Practices and the Best Practices Assessment Procedures. The Maturity Model in no way changes the work that must be performed as part of the Best Practices assessment. Rather, the Maturity Model offers an alternative method of reporting the results of a Best Practices assessment.

Turning to the good ol' bond market, as a proxy for the general interest rate environment, the risk-free 10-year T-note ended last week with a yield of 1.74%, and yesterday was a holiday. Rates have crept up: a lack of overseas turmoil, the job picture in the United States is pretty darned good, and housing is pretty good as well, so perhaps the Fed will raise short-term rates by year end.

Mortgage rates and long-term Treasury yields are set by supply and demand and weighing on yields, although fully priced into the market, is the supply with the U.S. Treasury auctioning off $56 billion in 3s, reopened 10s, and reopened 30s this week.

There really isn't much in the way of scheduled news today; tomorrow we receive the MBA's residential loan application data for last week, the JOLTS Job Opening figures, and the release of the Fed's Open Market Committee meeting minutes from last month's meeting. On Thursday the 13^th we'll have some import price data and Initial Jobless Claims. Friday we have Retail Sales and the Producer Price Index - not that inflation has been a big deal for decades - and some University of Michigan economic gauge figures. We find the 10-year wallowing around 1.77% with agency MBS prices worse .250 versus Friday afternoon.