Where R Rates & Market Knowledge Information To Chat With & Share With Clients & Realtors

MARKET CHANGES

1 BPS = $10.00 change in cost to borrower for the same rate per 100K in loan size.
Take Coupon % & add .75%ish to know the area impacted on your rate sheets.

GREEN is GOOD for Rates – RED is BAD for Rates

THINGS TO SHARE WITH CLIENTS & REFERRAL PARTNERS

It is looking good this morning with all green on the screen.

We have had lots of Fed Speakers all saying higher for longer which is really not any surprise anymore. Some are saying no reductions this year or one but likely late in the year if it does happen. The philosophy is it is higher for longer until it is not. It will be dictated by actual data that we receive.

Tomorrow we have the FOMC Minutes coming out at 1 PM Central time and that could move the markets a little bit.

We pretty much have no data coming out today so markets are moving in line with what the 8 Fed Speakers are presenting to the markets and then folks holding out til tomorrows meeting minutes.

Enjoy it while we have it.

Product & Guideline Highlight Knowledge That Gives You An Edge Over Your Competition

HANDLING IRS PAYMENT PLANS

Tis the season of tax returns being used and folks who did not pay their taxes on time may have a surprise waiting for them.

The good news is that you have options for those who have not started a payment plan yet.

Here are the guides for folks who owe taxes to the IRS. Note the difference between Fannie and Freddie. This is a big deal in order to make a deal work. Or if they have a lien Govt will be the route to take.

FANNIE MAE
If existing tax plan must prove most recent payment plus next payment due and amount owed from an IRS statement
For new payment plans a minimum of ONE PAYMENT must have been made.
If a tax lien has been filed it must be paid off.

FREDDIE MAC
Freddie allows new plans if you have the agreement that shows amount owed and estimated payment.
The payment will be based on the GREATER OF the estimated payment or the balance owed divided by 72 months.
Must be no indication tax lien has been filed against the borrower.

FHA & VA
You only need a payment plan that FHA has approved. No payments are required.
If IRS has lien you can do but must have three payments made.

USDA
Must have IRS payment plan and three months payments made on the repayment agreement. You cannot prepay the three months.

This is a great one to share with your referral partners and clients.

Jackism of the Day Truths and Thoughts that make you go hmmm

RIGHT OR WRONG DOES NOT MATTER

Talking and communicating with others is much more important than being right or wrong in your conversations.

My wife Misty and I are complete and total opposites. Our personalities, our emotions and the way we view things. In the beginning of our marriage 30 years ago this caused disagreements and division sometimes in our marriage.

It was not until we were in to our marriage a few years that a lightbulb went off in my head and I realized that she is everything in this world that I am not. That she absolutely completed me and I completed her and our two pieces created a wonderful whole couple.

I love everything about her and my life verse for many years has been “Love your wife as Christ loved the church, washing her with the Word and presenting her to himself without blemish, without wrinkle and without stain”.

Oh man, the times I have to repeat to myself when she drives me bananas that I am to love her unconditionally and to see her each day without blemish and without wrinkle and without stain is more than I can count. The reason is because when I look in the mirror at myself I realize that I am not all that either. Wheweeee, can you imagine living with me. HA! Who knows what I am thinking or going to bring up on any given day. I am not all that for sure. But together, we have created something special.

Something Happened the other day while we were out walking with the dog which we try to do most days. A time to get away from work and the phones and just be with each other.

We were talking about something. Not even sure what it was and she made a comment and I think I said I am not sure that one is correct my love. I don’t think that is how it works.

Then she said something that we all need to hear. She said “I didn’t say it was the right answer, I just say it is my answer”. KABLOOM, mind blown!

Marriage 101, write a book and make a million dollars. Man, if we could take that answer in to each one of our conversations with our spouses, kids, clients and most any other conversation.

My greatest desire is to have deep, meaningful and even surface conversations with my wife. The key to that success is that it does not matter about being right or wrong. It just matters about being with them. 

What matters is to speak and to be heard and then to listen and to accept. Speaking, listening, hearing and accepting does not include having to be right.

Imagine a life where you just accepted other peoples opinion and were ok with it. Imagine listening and responding with hmmmm, good viewpoint. I like the way you think. Imagine not caring about being right but instead caring more about being with.

Today remember that they may not be saying the right answer but they are giving you their answer which is better than not speaking at all.

PERKS TO GROW YOUR BUSINESS
MBS TRACKING SITE
HANDY DANDY GUIDES