THIS MORNINGS QUICK LOOK

1.  TOUR DE MTG FINANCE – MBS Today
2.  PRODUCT HIGHLIGHT – Freddie Vs Fannie Pricing
3.  MARKETING – To Be A King Or A Mayor

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

Yesterday was a great day to lock and hopefully you made some people happy yesterday. 

We ended the day up 83 BPS on Conv and up 84 BPS on Govt loans. Even cooler is the 10 Yr is down to 3.63 to end the day. Really good day overall. We ended up down from the high of the day but still a great day.

The stock market ended up 765.38 on the day but just before close it was up over 900 point. 

Oil went up by $3.76 to $83.25 as OPEC (Organization of Petroleum Exporting Countries) threatened to cut oil production. Not sure of why but I am sure it had to do with money.

The big story of the day that caused the good day was the UK reversing their stance on tax cuts.

Folks, I assure you we will have volatility and yesterday was a great day for the markets but we are only as good as the time stamp at this moment so I look forward to seeing what happens today.

As always for more up to date MBS information text Flagstar to 888-290-3968 to stay informed in the morning and afternoon of what is happening in the markets.

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

FREDDIE VS FANNIE PRICING

Most lenders including Flagstar Bank have the ability to sell our loans directly to Fannie or Freddie or directly to Wall Street via other buyers. 

Typically we would sell direct to Wall Street as we get better execution on what we could get for our loans and in turn give you better pricing. In these scenarios we send to Fannie and Freddie to get the guaranty from them but not sell the loan to them.

Fannie and Freddie are hurting the exact same as the rest of the industry and therefore are paying up more for loans to compete with the Wall Street direct folks.

This is why most lenders offer the same rate and pricing for Fannie and Freddie because they sell as a UMBS which is a Universal Mortgage Backed Security so you can sell either or but similar pricing.

Effective last week due to the competition within the agencies we are now offering separate pricing for Fannie and Freddie. Their need to compete means you can get better pricing.

Therefore, when pricing our loans now make sure you check both Fannie and Freddie pricing in our price quote and you may get a nice little surprise. I saw a 40 BPS difference on one scenario last week. It is not typically that and they are close but make sure you check and get the advantage.

If you are not working with me now I am accepting new clients. Call 404-931-9071 or simply hit reply to this email and let’s begin the conversation.

Marketing Ideas And Opportunites Little Things That Can Make A Big Impact

BE A KING OR A MAYOR

We are all leaders in some capacity somewhere in our lives. You may own a company, manage a company, run a team, be a parent, have a role in your community church or civic organization or sports team or anything where others look to you.

Being a leader in any area of life will always bring some form of people content with you and others on the opposite side of the fence. 

The issue is the people do not know your heart behind your actions or what the goals are and it can make you feel unappreciated, frustrated and begin to ask yourself is it worth it on certain occasions. 

Anybody who is giving of their time and abilities and putting themselves out there should be able to feel proud of what they are doing, why they are doing it and how they are doing it.

I have been the VP of the Board of Directors at my condo HOA for a few years and I like it there because really the VP has no responsibilities but can get away with doing a lot of stuff others cannot. I just finished this past week being the lead liaison to 72 unit owners, contractors working on our complex and the lead insurance and construction agents liaison for 7 million dollars worth of hurricane repairs that took us a full 2 years to complete.

To say I have a sigh of relief is an understatement that construction is complete. I know exactly what the folks in Florida are going through right now and please continue your prayers for them as I do.

This past Saturday the current President stepped down and I will be made President of the HOA. Obviously this is nothing special and I have been on many boards but it made me think of what kind of President do I want to be especially since most of what I handle is frustrated owners or problems which fits perfect with my life in mortgages as an AE.

I decided if I could rather than being called “King Jack” of the HOA I would rather be considered more like “Mayor Jack”.

Many people when they are in charge like to rule over their selected group or people. They have people come stand before them and they dictate the rules and dictate the policy and it is my way or the highway.

The way I see being a Mayor which can be similar but is different based on the heart behind a Mayor. A Mayor is usually from the people that they are working with and they have been in the mix or have done what the folks they are leading are doing.

A Mayor thinks about the community first as a whole. All people, all places, all situations and is able for the greater good to express the why and the what to those they are leading in a manner that they understand and accept.

But mostly the Mayor should care, the Mayor should listen, the Mayor should appreciate the responsibility that they have been given and cherish it even when they themselves are not cherished. The little city one is Mayor over they lead for the sake of their city and that is where they find their appreciation in what they have built and the people that are part of it.

Whatever you are leading even if it is just your children take a step back and ask yourself why you are leading this group and take the opinions of those in it out of the picture and look at the city you are building itself to find what you are trying to achieve. Then once you see your city growing you can then express it to the people that are part of it.

But if it is not growing and it is in dis-repair and it needs mending then either you are not a very good Mayor or you may need to change your ways.

As HOA President I will get a lot of complaints as I do now but seeing what happens after a 7 million renovation the overall good of the community far surpasses a few squeaky wheels. I am proud to be a Mayor Jack because I did not rebuild it thinking I was a King and the goal was a better place for everyone to be part of something great.

What kind of Mayor are you?

Turn Times As Of This Morning Lookin Good!