THIS MORNINGS QUICK LOOK
- TOUR DE MTG FINANCE – Little Things Change Rates
- PRODUCT HIGHLIGHT – Don’t Drink The Cool-Aid
- MARKETING – Proximity Vs Presence
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Tour De Mortgage Finance Learn Something New Everyday About Your Industry
LITTLE THINGS CHANGE RATES
Sometimes I like to look at little things to see a much larger picture of what is happening.
One of the big topics of conversation at one point here at our National Sales Meeting is we all flew in Monday morning or afternoon into Nashville for our meeting.
Then Monday evening someone showed up and said one small thing. Right before their flight left they lifted the requirement of having to wear masks on airplanes.
What? You would have thought we all just one the lottery. Everyone was over joyous that we do not have to wear masks on our flights home tomorrow.
But here is the thing, the lifting of having to wear masks moved the MBS market.
Say what Jack? Yep, it moved the market and not necessarily for the better either.
What it did in this country which is the same thing it did in our meeting rooms was it lifted consumer sentiment. It made things sound better. It showed signs of economic growth and a false change in the supply chain now that our iphones and building supplies do not have to wear masks while being delivered to us.
It changed the mindset of how people think and whether we like it or not how people think is how markets get purchased and get sold.
Think about what you say in every situation because you yourself are setting the tone for your clients and your circle of influence in how they feel about the rates you are offering.
Consumer sentiment matters.
Product & Guideline Highlight Knowledge That Gives You An Edge Over Your Competition
DON’T DRINK THE COOL-AID
I make this statement not only to you but I remind myself of it everyday.
If you have been in this business honestly for more than two years you have ingrained in your mind certain rules about guidelines. You may have learned certain guidelines from a company or a lender or your personal research.
It does not matter where you were taught something but what matters is it still true today as much as it was yesterday or years before.
The number of scenarios I get that people say I know your going to say no but….. is a large number. Then I respond with get me this, that and those and yep that makes perfect sense and I see no issue with making this happen.
It is like a deer caught in the headlights. What do you mean you can do this? Then I hear the explanation and I say nope you have been drinking the cool-aid with the lender you use or a company you used to be with that either just did not do a certain product, had a different interpretation or did not want to do them.
That does not make the company wrong but that does mean they have overlays on what they are willing to do. This is especially true in delegated shops which is perfectly fine. You have to not be able to do some things so you can be the best in other areas.
Flagstar has about 1 page of overlays compared to the 10 pages we had years ago and whatever those overlays are we can usually get an exception for it.
If the agencies are willing to do it usually we can do it too.
But, what is an overlay in your mind and what do you perceive as a guideline?
Make sure you know the difference.
Got scenarios. Give me ring.
But you have to wait til tomorrow afternoon for me to respond because Lucy and I are killin it at the National Sales Meeting : )
Marketing Ideas And Opportunites Little Things That Can Make A Big Impact
PROXIMITY VS PRESENCE
This week Lucy and I are attending the Flagstar Bank National Sales Meeting.
I was attending the welcome dinner last night and I gained a great reminder as I sat and chat with one of my colleagues Christy.
We were in a room with 100+ fellow AE’s and management and corporate folks and she looked around and said you know it is not about proximity but it is about presence.
As you begin to have more gatherings where there are groups of people it is always better to have a purpose than to just go and try to talk to as many people as you can.
It is not the amount of people you meet at a social event, it is about the one or two or three that you actually connect with.
That is what you call being present vs just a hug, hey how are ya or a wuz up comment.
I sat at the dinner table and never left for about 2 1/2 hours and really got to know 2 or 3 people on a much deeper level. What was going on in their lives and truly connected with them. It made an impact on my evening and I was better because of it.
I said hi to probably 70 – 80 people I knew that were in my proximity but I did not connect and nor did I need to nor could I have connected with them personally.
As you prepare for meetings or gatherings of any kind try being in the presence of a few vs just in the proximity of many. See what you learn and see how you feel about the meeting after you leave.
Turn Times As Of This Morning Lookin Good!
| TURN TIMES | Purchase | Refinance |
| Business days | business days | |
| Conv Non-MI | 1 | 1 |
| Conv MI | 1 | 1 |
| FHA/VA | 1 | 1 |
| USDA | 1 | 1 |
| Jumbo | 1 | 1 |
| Conditions | 1 | 1 |
