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

Today is certainly a strange one mainly due to we have green on the screen right now which means better rates but PPI which is the Producer Price Index which gauges inflation in the producers side of the world came in at .5% month over month which is way higher than the expected .2%. That is the difference between 6% and 2.4% inflation on the producer side which is an indicator of future consumer inflation.

So how does rates get better when inflation went up? The reason is the backwards revisions came in much lower than expected. Essentially what happens is these indexes come out with the numbers. Then a month or so later as new data comes in the previous numbers are revised and the index is updated.

Therefore, we saw really high inflation today but then we also saw a revised much lower update from last month. It usually does not swing this wide.

The markets in turn are going to wait on the CPI Consumer inflation number that is coming out tomorrow. Just know this comes out BEFORE rate sheets so if you are not locking today then know you will not be able to do so before CPI comes out tomorrow.

There is no indicator of which way it will go but inflation indexes have not been very nice to us lately. We also have a couple fed speakers this morning and hopefully they will not change their tunes based on this morning readings.

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

CLOSE MORE DEALS

I love scenarios for multiple reasons but one of the main reasons I love them is it allows me to see what we actually can get done.

Too often I forget that even though I close hundreds of loans a month and about as many scenarios per month the folks in the field do not get to see what I see on a daily basis as far as what is out there.

The reason for that is it is not coming across your desk for you to care enough to pay attention when you see a good niche. As most people I forget way more than I remember.

Today, I figured I would give you a did you know of things that you can do in the non-agency market. I am only going over my non-agency advantage products. Whether you are signed up with me or not it is likely either Flagstar or one of your lenders may have it as well.

The key here is to just know it exists. I am closing more and more of these products as people become more aware in the marketplace and rates are not bad. How aware are you of what is out there?

HIGHLIGHTS OF OUR ADVANTAGE PRODUCT
Up to 3 million at 90% LTV w/ 680 score
Bank statement loans
7 yr, 10 yr ARMs, 40 yr and 40 Yr I/O options
Up to 500K – 750K cash out based on LTV
Up to 50% DTI
60 day mtg lates in last 12 a-ok
Ch 7 & 13 BK only 12 months seasoning
1 year income doc allowed
Omitting departing residence mortgage pmt if selling
1099 Income documention
Asset depletion allowed

These are just a few of the items that I see loans that would normally go Conv or Govt find a home in the non-agency market.

Make sure you read up on what is available through Flagstar or whomever you use. Don’t lose a deal over lack of knowledge.

Also, realtors many times may not know what is available out there and they are the ones talking with the borrowers many times before they get to you.

Keep them in the know so they do not dismiss a good borrower that they may not know is financeable.

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

TWO CAN BE BETTER THAN ONE

President Woodrow Wilson said “We should not only use all the brains we have – but all that we can borrow” as well. President Lyndon Johnson said “There are no problems we cannot solve together, and very few that we can solve by ourselves”.

My personality says anything I need to do I usually like to do myself. I am not a fan of asking for help or directions or guidance on a new vision or mission or idea. I love making a difference in others lives but am hesitant to put anybody out to make a difference in my life.

This is a bad trait that I have and one I bet you have a bit of yourself regardless of your personality type.

How many times have you had a great idea that you wanted to do and you went all in and got it ready and put it together and put it out there and you may have gotten great responses or reviews or you may have flopped on your face.

Now picture taking that same idea to 10 different people to get their opinion on it and what they think and what they would do differently if they had a chance. Do you think you would have revised the idea based on the 10 people you asked? Do you think it would have been more successful?

Oh heck yeah you would of. We need people in our lives, our success depends on it.

The human race was meant to be in community and we were designed that way. As scripture says we are all part of one body. Some are the head, the nose, the hands, the feet and some are the buttocks!

But the point is nobody and I mean nobody is all parts of the body nor has all the answers. We all serve a purpose in this world we have been given to look over.

Just think about something you are pondering or putting together right now and reach out and ask for help or ask for an opinion or share what you are pondering with someone else. 

It is a great feeling and assured to get you better results if you seek advice and counsel. As much as you play an important role in others lives never forget to give the blessing of allowing someone else to play an important role in your own life.

PERKS TO GROW YOUR BUSINESS
MBS TRACKING SITE
HANDY DANDY GUIDES