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THIS MORNINGS QUICK LOOK

1.  TOUR DE MTG FINANCE – 3 For 3 On MBS
2.  PRODUCT HIGHLIGHT – Financing Cash Offers
3.  MARKETING – Write Like the Person You Are

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Tour De Mortgage Finance Learn Something New Everyday About Your Industry

3 FOR 3 ON MBS

Monday Up 2 BPS
Tuesday Up 73 BPS
Wednesday Up 17 BPS

3 greens in a row! I will take it. Of course that means it could come down as well but 3 days of positive bond market is good for the market. 

Stocks ended a little low yesterday which helped and oil going back up to $106 is just kind of annoying because no reason for it to do that but it did. But bonds held out.

The #1 conversation is the 2 yr and 10 yr being inverted meaning recession coming soon which is good for rates down the road and in addition the 2 and 10 treasury have reduced a bit, hence rates reducing a bit so that is sending a message to the FED to slow your roll Mr. Rate Hikers as the market does not need it quite so fast. 

The FED wants price stability and maximum employment and we get the inflationary numbers today so if it is stable then this would mean they may slow their roll. But if it is super hot and inflation is on the rise then HOOP their goes your rates potentially because the FED will have to jack up rates to try and control the inflation.

Basically, tomorrow is a telling day so if you have a short term lock you may want to lock tonight while the gettin is good but long term you may have some options.

We will see what the day brings…………

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

FINANCING CASH OFFERS

How do you help your realtors get more offers accepted?

Thanks to Rachael P for a great question and the answer is delayed financing if the borrower has cash but does not necessarily want to be out all of their cash for an extended period.

Delayed financing is where you can do a conventional loan immediately after paying cash for a house and cash out up to the amount that they paid for the house plus purchase costs and use APPRAISED VALUE vs acquisition cost.

Some caveats to delayed financing are the following:
Must have been arms-length transaction
Cannot get more than you paid for it
No liens can exist on the property
Must source funds to purchase property
Cannot get back any funds that were gifted for the purchase

What a great way to reach out to your realtors to give buyers options.

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

WRITE LIKE THE PERSON YOU ARE

One thing I always love to remember is that every person I come in contact with woke up the same as I did, worried about something in life, went through the process of getting ready and altogether is a normal human being just like me.

Therefore, when I write emails whether to clients or to underwriters or to managers I tend to write to them as if I was sitting there talking to them and just having a conversation. Many times I write them like I am shooting the bull with my friends.

People appreciate that to a point! Of course, we must be professional and obscene language is not acceptable but a good “Booya! You killed it on that one” will go a long way in making your communication a lot easier.

Honestly, I really don’t care if you are the President of the bank or some big wig CFO of a mortgage company or the head of a secondary or the top originator from a specific company.

They are all people and usually the higher up they are many times the more down to earth they are but they have a shield of protection built around them.

Lowering your walls around you and communicating in a nice, friendly and warm manner may be the key to getting what you need much faster than you could have with sounding all official.

Again, do everything with complete respect but in your communications today give it a try to be a little more human and a little more conversational. You will find it makes the day a whole lot better for both parties.

WARNING: If you are naturally a jerk or mean or rude or just angry then get over yourself because nobody wants to work with you anyway. Relax, have some fun and enjoy life a little. Everyone around you would appreciate it : ) 

See how that works. HA!

Turn Times As Of This Morning Lookin Good!