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National Mortgage News will be celebrating a decade of DigMo, with the 10th annual Digital Mortgage Conference set for Sept. 16 through 17. The conference returns to San Diego, but for the first time it will be held at the Loews Coronado Bay Resort.
This year’s keynote speakers are Joel Kan, the deputy chief economist of the Mortgage Bankers Association, and Andy Taylor, the co-founder and CEO of Retrorate.
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Among the sessions includes a Top Producers Super Panel featuring Phil Crescenzo of Nations One Mortgage, Shawn Malkou of X2 Mortgage and Jake Vermillion, the chief marketing officer of Mortgage Champions.
As always, DigMo is featuring its annual demo challenge.
Other speakers include a number of compliance experts, as well as from Fannie Mae and Freddie Mac, plus Zillow, Rocket, Rate, Guild, Better, Loandepot, Pennymac, CMG, New American and Atlantic Bay, among others.
Speakers at past conferences included some of the early movers and shakers in tech-focused lending. But several ended up among the most controversial names in mortgages.
Here’s a look back at some highlights from the DigMos of years past, both live and virtual.
Many people mistakenly believe that simply opening a Roth IRA will ensure their money grows. The key to growth is actually investing in assets. It’s essential to research your investments carefully. I prefer S&P 500 ETFs for their solid long-term potential.
If you max out your Roth IRA annually for 40 years, you could end up with around $3M based on average market returns 😱. But if you don’t invest your contributions, you’ll only accumulate about $280K.
Remember, every small financial decision and investment you make brings you closer to your wealth-building goals. Stay disciplined, keep investing wisely, and watch your financial security grow! 💸📈
-Steve
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Make sure you check out my next beginners investing master class on September 3rd 5:30 PM PST. The link to sign up is in my bio! 🔥
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Amazon has brought back a popular promotion for Discover cardholders. You can get a $10 off your next Amazon purchase of $75 or more, or 40% off up to maximum discount of $30 when using a Discover Cashback for at least part of your purchase. But offers may often vary from one account to the other.
You can use as little as 1 cent from your Discover card’s cashback and you will get the discount, as long as you purchase products sold by Amazon.com. Check out the details of this Amazon Discover promo below.
How It Works
This is a targeted promotion so not everyone will qualify. But if you have Discover Cashback and are eligible, make sure you activate the promotion and use it before the expiration date. Do this sooner than later, because there’s a limit on total redemptions.
Visit promotion page to see if you are eligible
Click on the “Activate promotion” button to activate your promotion and apply your Cashback Bonus to your next order.
Add eligible products sold and shipped by Amazon.com to your shopping cart.
Your Cashback Bonus will be temporarily set as your payment method at checkout. To redeem this offer, you must pay for at least a portion of your order with Cashback Bonus.
PROMO PAGE
Some of the offers that you might see include:
40% off, up to $50 in savings.
40% off, up to $30 in savings.
30% off, up to $15 in savings.
$30 off purchases of $80 or more.
$10 off purchases of $50 or more.
$10 off purchases of $75 or more.
Offer Terms
This is a limited-time offer. The promotion will end on the earlier of (a) 12:00 PM PT on 9/19/2025.
Amazon.com reserves the right to cancel or modify this offer at any time.
Offer is available by invitation only.
Offer only applies to products shipped and sold by Amazon.com.
Shipping charges may apply to discounted promotional items.
Amazon Discover Promo: Guru’s Wrap-up
This is an easy Amazon discount for Discover cardholders. Just visit the promotion page to see if you are eligible. If you are, then make sure you activate the promotion before making a purchase.
These promotions only works on items that sold and shipped by Amazon. To see only items sold and shipped by Amazon, search for whatever you’re looking to buy and then add &emi=ATVPDKIKX0DER to the end of the URL. The discount should work for third party gift cards sold on Amazon as well.
Let me know if this Amazon Shop with Points promo works for you. And remember to always leave some cashback in your Discover account, even if it’s just a few cents. They can be useful when these promotions come around.
More Discounts
Here’s a list of some of the current deals and discounts for Amazon purchases (affiliate links below):
Expired:
Amazon offers free shipping on orders of $25 or more. If you’re a Prime member, then you can also get free 1-day shipping on most items that are sold directly by Amazon. You can save on a Prime membership if you are a student, or an EBT/Medicaid cardholder. You can also just sign up for an Amazon Prime 30-Day Free Trial.
As an Amazon Associate I earn from qualifying purchases made through this article. While your support is always greatly appreciated, you should always check shopping portals such as Rakuten, TopCashback, RebatesMe, ShopBack and others for possible cashback.
A few weeks ago as the S&P 500 hit a new record, this reporter noted that the index virtually hit a landmark reading, a price to earnings ratio of 30. I actually cheated a bit, as I pointed out in the piece: The actual figure was around 29.85, close enough that I rounded it to 30. The point then was, this is a big, big number that you seldom see mentioned by Wall Street analysts or pundits, who’d rather cite a lower, more marketable multiple based on “next year’s” (always over-estimated) profits or “operating earnings” that exclude real charges as basic as interest expense.
But now it’s in the record books: At 2:35 PM on August 28, the S&P hit another fresh summit at 6501, and the real, not-rounded-up PE hit 30. That ratio’s based on what matters most, GAAP earnings posted over the last four quarters, profits that really happened as opposed to usually over-rosy predictions. The only span in recent decades when big cap stocks have been this expensive: Ten quarters during the tech frenzy that stretched from Q4 of 1999 to Q1 of 2022. (The PE also briefly exceeded 30 during the pandemic and following the GFC, but only because earnings collapsed, sinking the denominator and skewing the multiple artificially low.)
As I noted, on the macro scene, the danger signs are multiplying. The latest employment report from the Bureau of Labor Statistics disclosed that the U.S. added a meager 73,000 jobs in July, and revised the May and June figures radically downward, bringing total net hires for the past three months to just 106,000, less than one fourth the increase for the same period last year. Heather Long, chief economist at Navy Federal Credit Union, described the feeble data as a “game changer” demonstrating that “the labor market is deteriorating quickly.”
GDP growth has also proved disappointing, clocking far below the Trump administration’s highly aspirational target of 3%. The economy expanded at an annualized clip of just 1.75% through the first half of 2025, way down from the 2.7% average in Q3 and Q4 of last year. The Congressional Budget Office (CBO) is forecasting tepid expansion of 1.7% to 1.8% from 2026 to 2035, not nearly fast enough to shrink the federal debt that the agency projects will swell from 100% of national income this year to 110% by 2031.
So what does that mean for investors now? A 30 PE means you’re getting only $3 in earnings for every $100 you pay for S&P stocks. As recently as late 2022, you were getting $5 for every $100 invested. And the jump in stock prices didn’t occur because earnings soared. Since then, they’ve barely matched inflation. No, the huge ramp in recent years came strictly because PEs jumped, making stocks more and more expensive. That doesn’t mean stocks will crash tomorrow, or next week or next month. But history has proved time and time again that when valuations rise this far into the stratosphere, they are bound to come back to earth eventually.
Introducing the 2025 Fortune Global 500, the definitive ranking of the biggest companies in the world. Explore this year’s list.
Being placed on a college admissions waitlist can create a mixed bag of emotions for applicants. On one hand, it isn’t an outright rejection, but on the other, it can feel as though you’re being left on the sidelines.
After all the effort you’ve put into essays, interviews, and extracurriculars, being placed on a waitlist can be discouraging and frustrating. But understanding how a waitlist actually functions—and more importantly, what your odds of getting in might be—can help ease some of that uncertainty and inform your next steps.
In this article, we’ll dig into how the college waitlist process works, factors that influence acceptance from a waitlist, and what you can do to improve your chances. We’ll also look at real data from UC Berkeley’s 2022 admissions cycle to give you a sense of how waitlist odds play out in reality.
What Is A Waitlist And Why Do Colleges Use It?
Each year, college admissions teams face the unpredictable exercise of identifying exactly how many of the students they admit will actually enroll. This is known as the “yield rate,” and it’s a critical metric for colleges who consistently look to fill their incoming classes without overshooting or leaving seats empty. To manage this, admissions teams sometimes turn to offering certain qualified applicants a spot on their waitlist. Over the next few months, a portion of admitted students will decline their offers. This means enrollment spots open up and waitlisted students can get a chance at admission.
Each college uses their waitlist differently. However, waitlists are typically created in the spring (after March or April), after initial acceptance letters have been sent out. Once waitlisted students receive their official admissions decision, they’re often asked whether they’d like to remain on the waitlist. If you’re on the waitlist, you’re typically required to confirm your interest by filling out a form or sending a letter to the admissions office. This signals your ongoing commitment to the school, which can be a factor if spots open up.
Odds Of Being Accepted From A Waitlist
The question of the hour is this: What are the odds of actually getting in if I’m waitlisted?
Unfortunately, waitlist odds are generally low, particularly at highly selective schools. According to data from the National Association for College Admission Counseling (NACAC), highly selective colleges tend to have waitlist acceptance rates below 10%, while more moderately selective schools may have rates hovering around 20%. In most cases, students should approach a waitlist offer with cautious optimism—it’s an opportunity, but one with no guarantees.
UC Berkeley Example: Waitlist Statistics
To understand how this process plays out, let’s look at a real-world example. In 2022, UC Berkeley, one of the most competitive schools in the University of California school system, offered 7,001 qualified applicants a place on its waitlist. Out of those, 4,820 students decided to accept the offer and remain on the waitlist. In the end, 1,191 of those who were originally waitlisted were admitted.
This means about 17% of the students waitlisted at UC Berkeley ultimately gained admission. While this might sound promising, remember that Berkeley is a large public university with higher enrollment needs. Many private, highly selective institutions admit far fewer students from their waitlists each year—sometimes it’s fewer than 5% or none at all.
Factors That Affect Waitlist Acceptance Rates
Each college’s approach to managing its waitlist is unique, but a few common factors can influence whether a waitlisted student ultimately gains admission:
Yield Rates: If a college’s yield rate—the percentage of admitted students who enroll—is lower than anticipated, they may need to admit more students from the waitlist. For example, if a significant number of students decline their offer of admission in favor of other schools, more spots open up for waitlisted students. Schools with unpredictable or low yield rates are more likely to lean on their waitlists to fill classes.
Demonstrated Interest: Some schools consider a student’s ongoing interest in attending when determining who to admit from the waitlist. By sending a letter of continued interest, updating the admissions office on recent achievements, or even just filling out a confirmation form promptly, you can show that you’re committed to attending if accepted. In competitive admissions environments, this level of demonstrated interest can make a difference.
Class Composition Goals: Admissions teams strive to create a balanced and diverse incoming class, not only in terms of demographics but also in terms of academic interests, geographic distribution, and extracurricular talents. If the initial admitted pool is short on a particular type of student—say, musicians or applicants from a certain state—a college may look to the waitlist for candidates who fit that profile.
Institutional Priorities: Each college has specific goals and strategic priorities that influence admissions decisions. For example, a college expanding its computer science department may give waitlist preference to students with strong interest in STEM. Similarly, a college that values geographical diversity might prioritize out-of-state or international students from the waitlist if enrollment from those groups is lower than expected.
The Emotional Reality Of Being Waitlisted
Getting waitlisted is an emotional experience. It can feel like you’re stuck in a state of limbo, waiting on a response that could alter your future. However, being waitlisted isn’t necessarily a reflection of your skills and qualifications. In many cases, it’s simply a matter of space. Keep in mind that admissions teams regularly report having far more qualified applicants than they have spots available for.
Steps To Take If You’re Waitlisted
If you’re on a waitlist, it’s important to stay proactive while managing expectations. Here are some steps you can take to maximize your chances of being admitted:
Confirm Your Interest: Most schools ask students on the waitlist to confirm whether they’re still interested in attending. Make sure to complete this process as soon as possible, as this can signal your eagerness to enroll.
Write a Letter of Continued Interest: A letter of continued interest, sometimes called a LOCI, can help bolster your case. Your letter should be concise but genuine. Use it to reiterate your interest in the school, explain why it’s a top choice for you, and update the admissions team on any significant accomplishments since you submitted your application, such as awards, grades, or new extracurricular involvement.
Update with Relevant Information: If you have new SAT/ACT scores, a recent achievement, or additional academic updates, consider sending them to the admissions office. Some schools welcome updates, while others don’t; it’s a good idea to check the school’s policy to avoid overstepping.
Accept an Offer Elsewhere: Since a waitlist offer doesn’t guarantee admission, it’s wise to secure your place at another college by their deposit deadline. This way, you’ll have a guaranteed spot for the fall, and you won’t feel pressured if the waitlist offer doesn’t materialize.
Should You Appeal Your Waitlist Status?
In some cases, applicants might wonder if they should reach out to appeal their waitlist status. However, it’s generally not recommended. Admissions teams are accustomed to receiving additional information from waitlisted students, and contacting them repeatedly could be perceived negatively. The best approach is to follow their guidelines, provide any requested updates, and let your application speak for itself.
Final Thoughts on Waitlist Strategies
While being waitlisted is often disappointing, it’s important to remember that many students do get admitted from a waitlist. Also try to consider the bigger picture of why waitlists exist, then focus on what you can do to set yourself up for future success. Staying focused on presenting yourself as a committed, well-qualified candidate will speak for itself.
Ultimately, college is just one chapter in your educational journey. Whether or not you gain admission from a waitlist, your college experience—and your potential for success—isn’t limited by one decision. Embrace your options, make the most of the college experience that welcomes you, and remember that no matter where you go, it’s your passion, resilience, and curiosity that will carry you forward.
Editor: Colin Graves
Reviewed by: Robert Farrington
The post How Does A College Admissions Waitlist Work? appeared first on The College Investor.
The U.S. housing market’s inventory is growing, putting pressure on prices and slowing new construction, according to fresh research from the Bank of America Institute. As of June, existing-home supply reached 4.7 months, the highest level since July 2016. New-home supply surged even further to 9.8 months—its highest point since 2022—highlighting how quickly inventory is building across the housing market.
The influx of available homes reflects sluggish demand, with builders citing weak buyer urgency, affordability challenges, and lingering job instability. The Institute noted new-home inventory is now at its highest level since 2007, the year before the housing market collapse that led to the Great Financial Crisis.
ResiClub co-founder Lance Lambert told Fortune that the rising inventory tells us that “homebuyers are gaining leverage” as slack in the housing market is increasing. “The Pandemic Housing Boom saw too much housing demand all at once, home prices overheated too fast in many markets, and underlying fundamentals got too stretched.”
Lambert characterized the last few years as a “recalibration period” where the housing market is smoothing out that excess. Mounting inventory sucks out appreciation in more markets—and even causes outright corrections in some markets’ home prices. He said he expects the underlying fundamentals to slowly improve as that happens and incomes keep rising. “It takes time.” This period is different from 2007, he said, because that window saw a far greater weakening of the housing market and upswing in resale inventory, along with unsold, completed newbuild homes.
BofA Research
One striking shift: The median price of a new home has actually fallen below that of an existing home—a reversal of the usual market dynamic. BofA said this pricing inversion underscores how builders are being forced to discount amid rising supply and softer demand. “Builders are starting to pull back on new home starts in many markets,” Bank of America wrote. While the slowdown is broad-based, conditions vary regionally, with some areas such as the Midwest proving more resilient than others.
“Since the Pandemic Housing Boom fizzled out in 2022, and the affordability squeeze was fully felt,” Lambert told Fortune, “the national power dynamic has slowly been shifting from sellers to buyers as homes have a harder time selling and active inventory for sale builds.”
Still, Lambert noted the inventory picture varies significantly across the country. For instance, it remains most limited across notable sections of the Midwest and the Northeast, although still growing, he said. On the other hand, active inventory has neared or surpassed pre-pandemic 2019 levels in many parts of the Sun Belt and Mountain West, and he said that is where homebuyers have gained the most leverage.
The trend comes as the Federal Reserve has begun trimming interest rates in an effort to support both broader economic growth and housing affordability. Whether those cuts will be enough to reignite demand remains an open question.
For now, the data signals a market in transition: high inventory, moderating prices, and builders caught between a cautious consumer and the need to manage supply.
For this story, Fortune used generative AI to help with an initial draft. An editor verified the accuracy of the information before publishing.
Introducing the 2025 Fortune Global 500, the definitive ranking of the biggest companies in the world. Explore this year’s list.
Ever used ChatGPT, gotten something great one time, then a complete mess the next?
It’s a common story. One day it nails an email or summary. The next, it gives you five clunky paragraphs that miss the point entirely.
Doctors, business owners, and busy parents have all run into the same thing. Some give up after a few tries. Others keep tweaking prompts, hoping for better results, only to waste more time editing than creating.
That’s where one simple shift makes all the difference.
It’s not a hack or a secret. It’s a basic formula many now call the ChatGPT Cheatsheet (probably started in Reddit?). And this trick just works.
Once you use it, ChatGPT becomes the assistant you hoped it would be from the start. Here’s how you can do it too.
Disclaimer: While these are general suggestions, it’s important to conduct thorough research and due diligence when selecting AI tools. We do not endorse or promote any specific AI tools mentioned here. This article is for educational and informational purposes only. It is not intended to provide legal, financial, or clinical advice. Always comply with HIPAA and institutional policies. For any decisions that impact patient care or finances, consult a qualified professional.
TL;DR — The Trick That Makes ChatGPT 10x More Useful
Here’s the cheat code:
Role → Task → Format → Constraints → Example → Quality Bar
That’s it. You give ChatGPT six ingredients. Who to act like, what you want, how it should look, what rules to follow, a tiny sample, and how you’ll judge it.
Do that, and you’ll start getting usable drafts right away. You won’t have to rewrite the whole thing. You won’t wonder what went wrong. And most importantly, you won’t waste your time.
Why This One Trick Actually Works
Let’s be honest. Most bad AI outputs come from vague prompts. “Summarize this,” “Write an email,” or “Make this sound better” usually gets you… something weird. Like a bland soup of words with no salt and way too much fluff.
But this prompt recipe turns fuzzy asks into clear instructions, so ChatGPT actually knows what you want. That means:
Less fluff
Fewer rewrites
Clearer tone
Paste-ready drafts you can actually use
How does it work? Let’s break it down.
ChatGPT Step-by-Step Prompting Guide
Here’s the starter template:
Universal Template:
Role: [who you want it to act like] Task: [what you want it to do] Format: [output type — paragraph, bullets, etc.] Constraints: [rules — length, tone, style] Example: [one line that shows what good looks like] Quality Bar: [how you’ll judge if it’s usable]
Example:
Role: writing coach and editor Task: rewrite to be shorter and professional, keep the original meaning Format: two versions: (A) 80–120 word paragraph, (B) 3–5 bullets Constraints: clear, concrete verbs; no clichés; U.S. English; No filler Example: “Keep only what’s essential; replace vague phrases” Quality Bar: scan-friendly in 20 seconds; sounds human, not robotic
Prompt-Refiner (when you’re not sure what to ask)
You are a prompt engineer. I want [goal]. Ask me 5 precise questions to fill Role, Task, Format, Constraints, Example, Quality Bar. Then draft the final prompt.
1. Role
This tells ChatGPT what “voice” or mindset to use.
Avoid anything clinical like “medical writer” or “hospital assistant”. It might accidentally lead to oversharing. For more info on general rules to follow, read What Doctors Should Never Do in ChatGPT.
Stick with safer roles like:
“professional writing coach”
“organizer for team projects”
“editor helping improve LinkedIn bios”
“health educator writing for the public”
“email assistant helping busy professionals”
Think of it like choosing a hat for ChatGPT to wear, what kind of helper do you want?
2. Task
Tell it exactly what to do, with a clear action word. One task per prompt works best.
Examples:
Rewrite
Summarize
Create 3 pros and cons
Convert to checklist
Draft a short thank-you email
Avoid vague ones like “explore” or “think about.” Be direct.
3. Format
This tells it what shape you want the output in.
Examples:
120-word paragraph
5 bullets
3-column table [Time | Topic | Outcome]
One-liner + CTA
Plain-English Do/Don’t list
Bonus: tables are awesome for organizing ideas, notes, or agendas.
4. Constraints
Think of these like guardrails. They prevent fluff, keep the tone tight, and reduce hallucinations.
Examples:
Elementary reading level
<100 words
U.S. English
No clichés or filler
No medical terms or abbreviations
Avoid technical jargon
This is the secret to making ChatGPT sound more human and less like a bad textbook.
5. Example
This part does the heavy lifting in just one line.
Example:
“Start with a hook → 3 bullets → one-line CTA”
Or:
“Clear summary, no jargon. Like a newsletter blurb”
Models are pattern-matchers. If you show it the pattern, it nails the result faster.
6. Quality Bar
This is the final ingredient. How will you know the result is good?
Examples:
“Scan-friendly in 20 seconds”
“No fluff, sounds natural”
“Ready to paste into a newsletter”
“Sounds like it came from a human”
“Include 3 practical next steps”
You can even ask it to self-check:
“List 3 ways this meets the quality bar.”
That’s like giving it a mini QA checklist built right into the prompt.
3 Everyday Prompts You Can Start Using Today
1. The “Too Long Didn’t Read” Summary
Perfect for emails, articles, or meeting notes.
Role: professional assistant Task: summarize the following into 5 clear bullets + 1 action step Format: bullets only Constraints: no filler, plain language, ≤5 bullets Example: “Next step: review item #3 by Monday” Quality Bar: clear and decision-ready summary
2. The 45-Minute Agenda
Turn messy notes into a real plan.
Role: project coordinator Task: convert these notes into a 45-minute agenda Format: table [Time | Topic | Owner | Outcome] Constraints: <45 min total, each item has owner/outcome Example: “10 min | Budget review | Chris | Finalize Q3 numbers” Quality Bar: practical, time-boxed, and clear
3. The “Make This Clearer” Rewrite
For instructions, updates, or explanations.
Role: plain-English writer Task: rewrite the text for clarity and tone Format: 1 short paragraph + 3 Do/Don’t bullets Constraints: grade 5 reading level; no jargon Example: “Do: finish today; Don’t: delay past Friday” Quality Bar: easy to scan and understand on a phone
Unlock the Full Power of ChatGPT With This Copy-and-Paste Prompt Formula!
Download the Complete ChatGPT Cheat Sheet! Your go-to guide to writing better, faster prompts in seconds. Whether you’re crafting emails, social posts, or presentations, just follow the formula to get results instantly.
Save time. Get clarity. Create smarter.
Common Questions (Real Quick)
Q: Why does it still sound generic sometimes? → Add a 1-line example in your own voice, and tighten the constraints.
Q: Can I put multiple tasks in one prompt? → Break it up: Outline → Draft → Edit → Format. That sequence works wonders.
Q: I don’t know what constraints to use. → Ask ChatGPT to suggest three for you based on your task. Then pick one and go.
Final Thoughts
Now, again, this isn’t about becoming an AI expert.
It’s about saving time. Cutting fluff. Getting clarity. And spending less of your day wrestling with a blinking cursor and more of it doing things that actually matter.
So next time you fire up ChatGPT, don’t leave it to chance. Use the trick. And if it helps, share it with someone who could use the time back too.
If you want to learn more about AI and other cool AI tools, make sure to subscribe to our newsletter! We also have a free AI resource page where we share the latest tips, tricks, and news to help you make the most of technology.
To go deeper, check out PIMDCON 2025 — The Physician Real Estate & Entrepreneurship Conference. You’ll gain real-world strategies from doctors who are successfully integrating AI and business for massive results.
See you again next time! As always, make it happen.
Disclaimer: The information provided here is based on available public data and may not be entirely accurate or up-to-date. It’s recommended to contact the respective companies/individuals for detailed information on features, pricing, and availability. This article is for educational and informational purposes only. It is not intended to provide legal, financial, or clinical advice. Always comply with HIPAA and institutional policies. For any decisions that impact patient care or finances, consult a qualified professional.
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Peter Kim, MD is the founder of Passive Income MD, the creator of Passive Real Estate Academy, and offers weekly education through his Monday podcast, the Passive Income MD Podcast. Join our community at the Passive Income Doc Facebook Group.
TD Bank is investing in its anti-money laundering efforts via technology, systems and personnel as it continues to restructure on the heels of hefty U.S. fines. In 2024, the Toronto-based bank was fined $1.3 billion by the Financial Crimes Enforcement Network and $1.8 billion by the U.S. Department of Justice for failing to comply with […]
