As the MMLA conference wraps up (congratulations to Dan Grzywacz, CMB, and nearly 40-year industry vet, who was this year’s James T. Barnes Award winner), the conversations still involve some seemingly endless topics. One of which is W2 versus 1099. There’s been a lot of “quacking:” about whether originators can be paid as independent contractors (1099) or need to be employees (W-2). Mortgage Muser and attorney Brian Levy has some new thoughts on this topic that are worthwhile even if he “ducks” providing legal advice in his entertaining and insightful mortgage blog. View past editions of the Mortgage Musings and subscribe to get emailed about new postings for free here. Another is sticky higher interest rates, and today at 3PM ET, Skylar Olsen, Zillow’s Chief Economist, will be co-hosting The Mortgage Collaborative’s Rundown, covering current events in the economy and mortgage market for 30-45 minutes. And there’s volume. According to Curinos, July 2023 funded mortgage volume decreased 30% YoY and 13% MoM. Curinos sources a statistically significant data set directly from lenders to produce these benchmark figures. (Today’s podcast can be found here and is sponsored by SimpleNexus, an nCino Company, developer of mortgage technology uniting the people, systems, and stages of the mortgage process into one seamless, end-to-end solution. Hear an interview with Equifax’s Joel Rickman on leveraging income and employment verifications during the home equity line of credit (HELOC) origination process.)

Lender and Broker Software, Products, and Services

“Brokers can now shop, lock, and deliver on one platform that seamlessly connects brokers, lenders, and originators. In this market, hustle is everything. You can’t afford to waste a single deal… Or a single minute. That’s why ReadyPrice has launched its innovative new Shop, Lock & Deliver loan exchange platform, designed to help independent mortgage brokers like you save time and money. Now you can shop competitive loan offerings from multiple lenders, get rate lock guarantees in real time, receive underwriting findings, and deliver the borrower’s complete loan file to lenders, and all on a single platform, at no cost to brokers. It’s the industry’s most powerful universal delivery portal, and it’s already helping thousands of brokers around the country thrive and compete in even the toughest market environments. Multiple lenders. One platform. Zero b.s. Come check us out today.

Mega Capital Funding is proud to be a 25 yr. partner to the broker community. The team at Mega Capital continues to grow and expand across the US. Mega has recently added another 10 outside AEs across the country to further support the broker community. The team at Mega is also expanding our products this month with additions to our Non QM suite. ITIN is new and improved along with our Expanded DSCR options which also includes a No Ratio DSCR. We at Mega are looking to continue to be a destination for brokers and bankers to find all their lending needs under one roof. Conv, FHA, VA, USDA, Jumbo and Non QM. Mega Capital is also excited to be at NAMB this year. Please come by and see us in Vegas.

Looking Ahead to Conferences and Training

A good place to start is here, and click on “events.”

The Mississippi Mortgage Bankers Association is holding its fall conference September 7-8 in Jackson. Our theme for this year is “Building a Strong MS” We are focusing on building relationships, strategies, and opportunities for the real estate housing industry in MS. Our fall conference is open to loan originators, realtors, and other industry affiliates. Realtors will receive Continuing ED (CE) credits for attending the Fall Conference.

Save the dates of September 10-12 and join lending professionals from the Pacific Northwest at the Riverhouse in Bend, Oregon, for the Pacific Northwest Lenders Conference. This event promises to be a catalyst for professional growth, offering a unique platform to expand knowledge, build valuable connections, and elevate lending businesses in the region.

Prepare to be amazed and delighted when you swing by the Plaza Home Mortgage® booth at the NAMB National Conference, September 8-11, at Caesars Palace in Las Vegas.

Register for free with the code PLAZAFREE and pop by Plaza's booth #607 or schedule a meeting with us at

Zelman’s Virtual Housing Summit is September 18-21, though not exactly in person.

Network and collaborate with your industry colleagues while learning the latest updates on mortgage industry standards at MISMO’s Fall Summit, September 18 – 21 in Washington, DC

New To MISMO? Check out this 20-minute presentation "Intro to the MISMO Summit Experience" to learn what to expect and how to best prepare so that you get the most out of the Summit.

AzAMP Annual EXPO, Luncheon, and 8-Hour NMLS CE Class, September 27–28, at the We-Ko-Pa Resort and Casino. Begin your experience on Wednesday, Sept. 27 with Part 1 of NMLS CE class. Full day of events begins on Thursday, September 28 including NMLS CE class Part 2, Luncheon with Keynote Speakers Allen Beydoun, UWM Executive Vice President and Rob Chrisman, The Chrisman Commentary Daily Mortgage News, followed by the AzAMP Expo.

Watch on demand, at your leisure: Millennials and Gen Zers represent the largest group of first-time homebuyers. In less than 10 years, 3.1 million will have entered the market. Of these buyers, roughly 75 percent of them report checking social media daily. Making social media a necessary strategy for loan officers. Join Homebot's VP of Marketing, Ashley Remstad and Mortgage Advisor Sosi Avila as they discuss key strategies and tactics for using social media to your advantage. Register for the webinar here.

It's time to register for the New England Mortgage Bankers two-day Conference, September 13-14 in Portsmouth NH. Multiple venues all within walking distance for a new NEMBC experience.

Register for the AzAMP Annual EXPO, Luncheon, and 8-Hour NMLS CE Class on September 27th and 28th at the We-Ko-Pa Resort and Casino. Don’t miss Luncheon Speakers Allen Beydoun, UWM EVP, and Rob Chrisman, The Chrisman Commentary Daily Mortgage News. Stay the night at the resort and attend all the events.

Registration for the NCEO 2023 Fall Forum in Houston, September 26-28 is now open. Featuring top industry experts and thought leaders, the forum will update you on the latest trends and best practices in employee ownership. Network with other employee owners and industry professionals from across the country, sharing ideas, challenges, and successes.

Secure early-bird pricing through June 23rd. From close-knit conversations to invigorating keynotes, the forum is the place to rocket your company into the stratosphere.

MBAC 67th Annual Convention Oct 1-4, 2023 at the Francis Marion Hotel, Charleston, SC.

Sponsorship opportunities available, reserve your room at the Francis Marion Hotel use Promo Code MBAC2023 for special rate, Last Day to reserve at this rate, September 11, 2023.

Mark your calendars and make plans for ACUMA’s 2023 Annual Conference! Registration is now open for the biggest event tailored for the credit union mortgage professional. This year’s theme, Make Your Mark, is the largest and most comprehensive event on ACUMA’s education calendar and is scheduled for Oct. 1-4 at the Gaylord National Resort in National Harbor, Maryland, just down the Potomac River from Washington, D.C. Make plans now to attend this year’s largest gathering of mortgage lenders, and plan to continue to Make Your Mark in credit union mortgage lending! Here’s the link to register! ACUMA 2023 Annual Conference.

At Turning Stone Casino & Resort, Verona, NY., October 4th at 12:00 PM - October 6th at 12:00 PM (EDT), NYMBA 2023 Annual Convention & Golf Tournament, a premier event that brings together industry leaders, professionals, and innovators in the mortgage banking sector. This convention serves as a platform to foster collaboration, share knowledge, and explore emerging trends, ultimately shaping the future of the mortgage banking industry in New York and beyond.

As we celebrate America's independence, we have many other reasons to celebrate as well. This October 15-18, we're taking the original gathering of real estate finance professionals to the birthplace of our country, and we're celebrating some of the reasons you're going to love it: MBA’s Annual Convention & Expo 2023.The largest annual gathering of real estate finance professionals, this is the one event you need to gain access to the industry's power players and innovators. Be inspired and get informed by engaging speakers on the Main Stage. Meet with dozens of exhibitors in THE HUB and get hands-on access to the latest products and services. Dive deep into Breakout Sessions to get the insight you need on all the facets of the business.

There's only one venue where you can get timely updates on where the reverse mortgage industry is headed, the 2023 Annual Meeting & Expo, October 23-25 in Nashville, TN.

Get the latest news on the HECM program. Learn about proprietary product opportunities. Find out what other regulatory changes are forthcoming. Pre-sale registration, the lowest registration rate, expires at midnight (Eastern Time) on Tuesday, August 22.

The kind of news you want to know, VIBE 2023, a very important broker exchange, is here! What is VIBE 2023?* The biggest growth mindset event for Mortgage Brokers featuring a VIP lineup of some of the most influential speakers in the country! Join us at the Westin South Coast Plaza in Costa Mesa, CA on 10/24/2023. Register to attend using your UNIQUE CODE**, provided by your Kind Account Executive. Learn more by visiting here. *VIBE 2023 event is open to all licensed Mortgage Brokers in the United States. No commitments to establish a partnership with Kind Lending are required to attend. **Unique Codes are provided by your Kind Lending Account Executive. If you do not have an account executive or are not yet working with Kind TPO, email us to learn more.

TMBA is working through the summer planning outstanding events including the 6th Annual Mortgage Symposium, November 6-7 at the Westin Dallas Southlake Hotel in Southlake TX. The Texas Women Mortgage Bankers event will be held on November 6 at the Westin Dallas Southlake Hotel.

October Research, LLC is happy to bring back the Women’s Leadership Summit (WLS) for its second year. It will be held November 6-7 at the Naples Grande Beach Resort in Naples, FL. We are now accepting registrations and speaker nominations! Built around the four pillars (Develop, Grow, Support and Empower) WLS provides attendees with the tools for success in a fun and supportive environment. Attendees come from across the country to learn from our visiting experts and each other about how to meet their goals. Visit for more information.

Capital Markets

Not only do the earth’s temperatures keep going higher, but inflation does as well, but at a slower pace! It was revealed yesterday that the consumer price index rose a temperate 0.2 percent in July and 3.2 percent year-over-year, matching consensus expectations. That marked the smallest back-to-back gains in more than two years, adding to a steady wave of disinflation in recent months. Excluding the volatile food and energy components, the “core” index rose 4.7 percent year-over-year versus 4.8 percent in June. The index for shelter accounted for 90 percent of the increase, but is almost back to pre-pandemic levels and will continue to moderate after home price appreciation peaked last year.

While the recent trend is encouraging and confirms that inflation is headed in the direction the FOMC wants, it’s likely premature to get overly excited about a sustained return to the Fed's 2 percent inflation target. The Fed's fear is that a pause will reignite home price appreciation, exacerbate the affordability problem, and push inflation higher. Look for the Fed to leave interest rates unchanged at the next policy meeting in September, but add the caveat that the job isn’t done yet. Initial claims also moved in a direction last week to corroborate the thinking that there is some softening in the labor market, which is what the Fed expects and hopes to see. However, bond yields rose by the day’s close after the U.S. Treasury closed out this week's auction slate with a weak $23 billion 30-year bond offering.

Today’s calendar kicked off with MBA reporting that the delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 3.37 percent of all loans outstanding at the end of the second quarter of 2023, down 19 basis points from the first quarter of 2023 and down 27 basis points from one year ago. The percentage of loans on which foreclosure actions were started in the second quarter fell by 3 basis points to 0.13 percent.

We’ve also received the July Producer Price Index, which increased .3 percent month-over-month and .8 percent years-over-year versus 0.2 percent month-over-month and 0.6 percent year-over-year expectations and both 0.1 percent month-over-month and year-over-year previously. Core PPI rose (), +2.7 year over year. The only other release scheduled for today is at 10AM ET with the preliminary August Michigan sentiment. We begin the day with Agency MBS prices worse .125-.250 from last night and the 10-year yielding 4.13 after closing yesterday at 4.08 percent.

Employment and Transitions

“Keith McKay, CEO of Prime Choice Funding, invites you to participate in reshaping the mortgage industry. Our mission for 2023 is to become the top mortgage broker in the nation. Join our team and expand your professional horizon with our diverse loan programs, flexible compensation plans, and a unique opportunity to earn extra by offering solar solutions to your clients. Backed by comprehensive marketing resources, cutting-edge platform, and robust operations support, your potential for growth is limitless. With a history dating back to 2007, Prime Choice represents stability and innovation in finance and sustainability. Register for our webinar today and explore these rewarding opportunities.”

The Maryland office of USA Mortgage has added nationally prominent Loan Officer, Sam Rosenblatt, to its roster. Rosenblatt joins William “Bill” Sohan in his venture to expand USA’s national footprint. Active in the mortgage industry since 1995, Rosenblatt was the #1 producer in units in Maryland in 2021, filing 978 closed loans valued at $338,087,603, and is among the top 50 originators in the nation. “I’m excited to join USA Mortgage because they have great loan options for my clients, state-of-the-art marketing, and cutting-edge technology that makes the mortgage process as efficient and smooth as possible”, he said. Founded in St. Louis in 2001, USA has offices in 34 states and is licensed in 49 states plus the District of Columbia. For a confidential conversation about joining USA, contact Brooke Anderson at 609-500-1520.

Switching gears, Michael Dresden, the President of Dart Appraisal, sent the sad news that Tim Laden, Dart’s Chief Appraiser, passed away. “Tim impacted so many appraisers across the country through his love for coaching and mentoring. Tim was such an asset to Dart and helped us elevate many areas of our business. We’re better because of Tim.”