THIS MORNINGS QUICK LOOK
- TOUR DE MTG FINANCE – MBS Today
- PRODUCT HIGHLIGHT – Unrelated Person Gift Funds
- JACKISM OF THE DAY- Best In The World
START EACH MORNING WITH EASY TO READ MBS UPDATE
TEXT “FLAGSTAR” TO 888-290-3968 – IT’S FREE
Tour De Mortgage Finance Learn Something New Everyday About Your Industry
MBS TODAY
We have two very exciting days coming our way today and tomorrow. Likely by the time you read this article this morning a couple of these items will be out for the markets to react to.
I will be sending out the MBS text update with the results at 9:30 CST so if you are not receiving them just text Flagstar to 888-290-3968.
While the Fed is meeting today and tomorrow and we get the Fed speech tomorrow afternoon of what they are thinking about the upcoming months and where we are on inflation we have a busy day this morning that will likely impact the talks at the FOMC (Federal Open Market Committee) meeting aka Fed Meeting.
We get our Inflation rate year over year and month over month this morning at 8:30 AM CST and our CPI (Consumer Price Index). As a reminder the Consumer Price Index is the change in the cost to a “consumer” for a basket of goods and the change of that cost from one month to the next and one year to the next. This gives us a basis for the end cost to the consumer inflation rate which dictates what the Fed will do with future rate hikes.
We have a 30 year bond auction today at 1 PM EST.
Lastly, we have the Economic Optimism Index coming in today. This measures the opinions of Americans outlook on the economy. They are asked for a 6 month personal outlook on personal financials and confidence in federal economic policies. If the reading is above 50 then Americans are optimistic. If the reading is below 50 they are not optimistic. The last time we were in optimistic territory was August of 2021. Expectations is a 41 and this helps the Fed gauge consumer opinions on what they are doing.
Both the CPI and Optimism Index are two great topics to throw in to a rate lock question about what you are monitoring or to tell realtors of what is happening. I will let you know the results at 9:30 CST via texting update.
Product & Guideline Highlight Knowledge That Gives You An Edge Over Your Competition
UNRELATED PERSON GIFT FUNDS
On December 7th Freddie Mac rolled out an update and changed the definition of “Related Person” as it pertains to who is allowed to give gift funds on a Freddie Mac loan.
They have added the following as a person that qualifies as related person.
– An unrelated individual with close, family-like ties to the Borrower.
This could be a great advantage that I assure you most originators do not know about and a great little tidbit to send out to your realtors as they have conversations with clients.
Here is the complete list of related person’s for Freddie Mac.
Jackism of the Day Truths and Thoughts that make you go hmmm
BEST IN THE WORLD
As I write this article to you I am going to pose a question that I do not have the answer to for my own self.
There are moments in life where the results of our actions will lead us in different directions than the path that we are currently on.
Moments where the direction we are heading is South but then a change in destiny reroutes our journey for due North. I suppose you could call it the compass of life. At all times during all of our lifetime we are heading in a direction and it is entirely up to us what that direction is.
The question I want to ask you today is “What do you want to be the best in the world at? That means nobody in the world can be better than you at this one item.
Have you ever thought about that before? Of all the things that you do every day what is it that you want to do better than anyone else? If you do not do this one thing everyday or most days then it is doubtful that is the one thing.
Now, if you take that one thing if you have figured it out yet, I want you to think of someone that is better at it than you. The question was what do you WANT to be the best at. The question was not what ARE you better at than anyone else in the world.
Let that person motivate you to become better today than you were yesterday. Realize when someone is better than you that they are the motivation for what comes next. Not to copy them, not to beat THEM, not to compete with them. All that is busy noise and a distraction.
No, let that person inspire you to be a better version of who you are. It is impossible to become the best at doing anything by doing it someone else’s way. You can only be the absolute best in the world at something if you are original, you are you, you are genuine, real and motivated by the joy of doing something better than anyone else in the world and is completed your way.
You will never be able to DO what it takes to be the best. You can only BE what it takes to be the best.
This does not have to be your job but it can be. What in your life matters more to you than anything else in the world that you can be the best.
Then go after it unless it is at the sacrifice of your family, your finances or your faith.
Be the change you want to see in the world. Are you heading South right now but everything in you is saying due North is where you truly want to be? It is your compass. Go be something with it.
