THIS MORNINGS QUICK LOOK
- TOUR DE MTG FINANCE – MBS Last Week
- PRODUCT HIGHLIGHT – Investors Investors Investors
- MARKETING – Back To The Basics
START EACH MORNING WITH EASY TO READ MBS UPDATE
TEXT “I’M IN” TO 251-428-1564 – IT’S FREE
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MBS LAST WEEK
At this point I am not sure if you need to know why or if you just need to know what is happening in the MBS market.
The inability to project what the FED is going to say or where the war is going or what the latest inflation and consumer sentiment numbers are is basically impossible to gauge what the markets are going to do.
Your job is to know what is happening at the moment and if we are in a downward spin or an upward rebound and I do help a bit with my MBS texting service listed above. When I get notified if I feel rates are going to change I will notify you but not as much as I am notified but I will explain what is happening.
What happened Friday truthfully just does not make a ton of sense. We thought we were nearing the bottom and then boom a huge loss day with no true explanation as to why and we absolutely moved to the 4% coupon which means rates went up!
Without looking at the actual numbers I do know this is the largest increase in mortgage rates in the shortest amount of time I believe in the last 50 years. Basically, a long time has passed since this has happened and it’s still all good. People will buy houses, people will need cash out and loan officers will survive so don’t go getting all whiny and depressed. Go do your job and reach out to your clients.
If you think you have it bad. My 22 year old daughter and my 25 year old son opened a branch in January with no contacts, no experience and no real estate agents and they are doing what it takes to make it happen. They are in the same boat as you but those who do what it takes will survive.
Many will retire this year and many part timers will get out of the business this year but many others will thrive.
Just make sure your in the know and you are doing what it takes every day.
We lost 149 BPS in the 4% coupon which is equal to $1,490 per 100K in loan amount last week. We lost 109 BPS in the govt 4% coupon so not as bad as conv but still a damaging week.
Make it a great week, well, because you can dang it!
Product & Guideline Highlight Knowledge That Gives You An Edge Over Your Competition
INVESTORS, INVESTORS, INVESTORS
So, I was sitting here talking to Lucy (My imaginary best friend) and we were chatting about growing business.
You know what a lot of investors care about more than anything else?
CASH FLOW
Yep, that is right. They love cash flow especially if a tenant decides to stop paying. They like cash in the bank for the 10K A/C unit or the $800 stove or the $2,000 refrigerator.
Over the past few years they have seen an immense increase in their equity which means an immense increase in their ability to borrow.
Do not think just because the interest rate is a little bit or maybe a lotta bit higher that they would not prefer cash over rate because many may have painted themselves in a corner with their regular job as so many were impacted by COVID so they are in an equity rich position but not necessarily a cash rich position.
Now is a great time to reach out to your investors for cash out opportunities to either use one property to pay off another or just to refill their cash accounts.
Use the multi-property programs to your full advantage.
Got questions? Just ask. Even if you don’t use me which eventually Lucy says you will because DUH what are you waiting for?
Oh, and I assure you I will not call you every afternoon to let you know what you don’t need to know but if you call me I am here for you every day every time. Unless, I am on vacation then well I have people for that : )
Marketing Ideas And Opportunites Little Things That Can Make A Big Impact
BACK TO THE BASICS
So, I was driving my RV from Atlanta to Orange Beach yesterday after spending a week visiting clients and decided to reflect.
I had some time on the road and time on my hands so Lucy and I got down to business.
I kind of found myself in a bit of a rut. Somehow and for some reason my volume this month has been higher than the last 3 years. I have no idea why but thank you. I added 10 new accounts this month that typically do not use me and business is great but dang is it busy which I absolutely love.
So, what do you do when you get busy in one area of your life?
It is simple, you decide what your priorities are and you get rid of the rest of the crap.
As you know, my priorities of course #1 D MAN JESUS come on wid it, then #2 My amazing wife who absolutely has gotten the raw end of the deal lately and I need to make it up, #3 Making sure my clients are all taken care of and I am doing the things that makes it rain. Not the extra stuff that means minimal to nothing but WHAT MAKES IT RAIN for you and your business?
Ask yourself what 3 things do I do that makes my business rain that you actually have control of?
For me, #1 – I write this 4 days a week. I write every one of these articles myself. Tons of work. #2 – I respond fast, efficient and with the right answers to your needs. #3 – You have a problem, I fix it. Period!
That is what makes it rain for me. What makes it rain for you? Think about it and do it today.
Side Note: Of course, I have quite a few things that come before #3 work like kids, extended family and other stuff but people are ADHD enough so I had to get to business.
Make it a great day. I know I will. Why? Because I CAN!
