THIS MORNINGS QUICK LOOK

1.  TOUR DE MTG FINANCE – Why Housing Starts Matter
2.  PRODUCT HIGHLIGHT – Renovation and 203K Referrals
3.  MARKETING – Who Do You Fight For?

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Tour De Mortgage Finance Learn Something New Everyday About Your Industry

BUILDING PERMITS AND HOUSING STARTS

This morning these two reports come out and again it is important to know why you care and why the markets care.

Although, this is not typically a market changer like jobs reports and producer and consumer indexes that measure inflation and the overall job market.

What it does do is give us an indicator of consumer sentiment and how confident they are to start a new build as well as the builders sentiment in that they are willing to begin building based on market demand.

The report measures the number of residential units which construction has begun which is defined as the beginning of foundation excavation.

In the country we have 17K different sites that issue permits. This sampling is taken by the Census Bureau from 844 of those sites that represent all areas of the country.

Think of building in Minnesota vs Florida in the winter months. Of course, there will be large differences in building starts.

They measure the month over month and year over year changes which tell them market demand from consumers but another huge indicator is based on the number of building starts we can tell the construction employment numbers which the real estate market employs a good chunk of our economy.

So, when construction jobs are down that can impact the economy and vice versa as well.

Kids need to be fed whether their pay comes from selling the land to leveling the ground to framing the house to closing on the mortgage with an originator to selling it to Wall Street. We are all impacted in one way or another every time a new building permit or housing start has begun.

Now you can care to see how it comes out today : )

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

RENOVATION AND 203K REFERRALS

What happens when someone calls and they want a renovation loan and you know you are not good at them and really have no clue how to do them?

We have an option for you and I just closed out two of them the last couple days which prompted this reminder.

We have a retail group up in Michigan that Fannie Mae Homestyle Renovation and 203K Loans is all they do and they are rock stars at them. I have never heard a complaint from any client.

How it works is you get the first 7 pieces of information and fill out a form and then talk with the manager over the group and they make it happen for you and your client and best part is you do not lose the client on future loans and the group in Michigan does not want future business from them because they only do these type loans.

You can be as involved or uninvolved as you want to be. If you want to be cc’d on every email no problem or if you just want to let them know when your check is ready that works as well. You do not have to process or do anything beyond the initial pieces of information.

Since referrals are not a lender comp payout it is up to you and your company how to get paid on it.

We pay 1% fee on the CD to your company at closing.

Sorry, but you must be a Flagstar client to be able to take part in this program.

Email me and I will send the package over to you via email whether you want to use now or down the road.

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

WHO DO YOU FIGHT FOR?

So, I was sitting in a marriage seminar Sunday night with Misty (Yep, Misty said Lucy was not allowed to come) and of course as I am listening to the speaker I am thinking how I can apply this for you guys. Ruh Roh. HA!

I learned two truths. The second one I will share tomorrow.

Truth #1 – Don’t fight with your spouse, Fight for them.

It is an easy truth to realize and go oh yeah that’s a good one but think how that plays out in all of life with your spouse but also with your co-workers.

I could easily put your clients here but you know what, I think we already fight for our clients usually because you care about them but also because you do not get paid unless you fight for them.

But Co-Workers, now that is a different ballgame. For me that is my underwriters, my advocates, my sales support staff, my managers, my leadership team etc. 

If you are going to have a great relationship with any of these individuals we have to learn to unite and fight for one another. To sing their praises, to prioritize their needs, to think from their viewpoint, to fight for them and what they are trying to accomplish.

The same as in a marriage when you fight FOR your spouse and for what is good for them and best for them the environment begins to change. The responses become a little bit different, the return on investment begins to reap rewards you never new existed. People begin to care more, give more, respond more and overall become more because they realize how much more they are to you.

Life is short my friends, we wake up every day with an opportunity to fight with the world that we encounter or to fight for the world that we encounter.

You cannot do both. It is an either / or option. 

You want a marriage that will last then fight for your marriage.
You want a career that will last then fight for those that help you make it happen.

Turn Times As Of This Morning Lookin Good!