THIS MORNINGS QUICK LOOK
- TOUR DE MTG FINANCE – MBS Sitting On The Line
- PRODUCT HIGHLIGHT – Top 20 Flagstar Niches
- MARKETING – Market What Sets You Apart
START EACH MORNING WITH EASY TO READ MBS UPDATE
TEXT “I’M IN” TO 251-428-1564 – IT’S FREE
Tour De Mortgage Finance Learn Something New Everyday About Your Industry
MBS SITTING ON THE LINE – YIKES
Oooooh, this is very exciting to someone like me and Lucy is STOKED to see what happens.
Since we do not have any major news coming out as of this writing we have only technicals. That means we look at charts and fibonacci levels like below.
As a reminder all trading is emotional. When should I buy and when should I sell and Fridays close is a great example.
On the left side is the 10 yr treasury. You see the far right red candlestick. It is sitting directly on a floor which can mean it will bounce back up (bad) BUT if it breaks through the floor which is oh so exciting to watch then it can fall all the way to the next line you see there.
If you notice that the red candlestick actually looks like what we call a hammer. The little red line below the thick red part and that just tells you what happened during that days trading which means during Friday it actually broke way below but by days end retreated back up to the floor of support.
Then look at the right graph which is our Mortgages trading and it is hitting a ceiling of resistance as in it does not want to go higher emotionally speaking and you see the little green line on top of it says during the day it did go higher.
So, what we will watch this morning is if it breaks through we have some great relief with rates potentially to the upside but if it does what emotional traders tend to do then both will bounce and we have quite a bit of ground we can lose to the next support and resistance lines.
So, as a trader this is exciting to watch but as an LO it is what we call locking bias. Usually you sit and see and if it goes one way or the other then you float or lock.
As a reminder I send out what has happened in the MBS market around the time first rate sheets come out so you will know what happened later this morning.
JUST TEXT “I’M IN” TO 251-428-1564 – IT’S FREE
Product & Guideline Highlight Knowledge That Gives You An Edge Over Your Competition
TOP 20 FLAGSTAR BANK NICHES YOU LIKELY FORGOT ABOUT
Here is a list of everything you may or may not know about Flagstar.
With rising rates it is amazing how many loans we are seeing that you would not be working on when you were so busy you could not see straight but now seem to have found time to tackle them or say yes to the application.
So here goes:
PDF OF FLAGSTAR ADVANTAGES
Flagstar’s top 20 helpful lending options:
- One Time Close conventional construction program. 50k up to 2m. 90 LTV one time close (with recert of income). Modular, PUD, SFR, and Site Condo. True jumbo construction available to 2m and coming soon; Two Time Close Construction with even higher loan amounts.
- Manufactured multi wide available as main dwelling. Single wide now permitted as ADU.
- Minimum FICO 620 for both Fannie and Freddie non MI and MI to 97 LTV. Fannie HomeReady available 620 FICO. Freddie Mac Home Possible and Home Possible Advantage 620 FICO.
- Conventional NO DTI restrictions with Approve/Accept response. MI is available with all Approve/Accept DTI’s. We will approve your ACCEPT LP findings up to 50.99%, DO APPROVE/ELIGIBLE up to 49.99%.
- Conventional no tradelines requirement for borrowers with one score. NO open and active requirement. NO SCORE available for co-borrowers Conventional. No min trades for FHA with Approve/Accept.
- FHA purchase and refinance min scores down to 600 with practically no overlays. VA down to 600. FHA/VA/USDA Refer/Caution responses manually underwritten (no price adjustment). USDA down to 620 with no overlay.
- We want your PIW even with CASH OUT. No appraisal is a good appraisal.
- VA Cash out STILL available to 100 LTV with 600 FICO. VA to $4,000,000 with 640 FICO.
- Four portfolio Jumbo products to choose from with no county limits. “Jumbo Buster” second lien and HELOC program CLTV now to 89.99 (500k max HELOC line amount).
- Flood insurance required only up to the total loan amount (not appraised value/replacement cost)
- Renovation loans available up to 97% of as completed value. Jumbo Renovation 85% to 2m. Ask me about my “ez money 203k options – 600 FICO”. HomeStyle Renovation DOES NOT require HUD consultant. HomeStyle Renovation now available as EZ referral option.
- Will finance properties with oil and gas leases. FHA ALTA 9 only.
- USDA : NO AMC appraisal required just use any FSB approved appraiser.
- NY CEMA – No required title company lists. NY-NJ Co-Op program for certain counties.
- Jumbo Advantage: Alt A jumbo. 680 min FICO. 90 LTV Max w/MI. Cash out Jumbo investment 1-4 cash out. Second Home Jumbo 680 FICO. Fixed or ARM available. Jumbo Express – use AUS findings for reduced reserves in non-high balance areas.
- Submit AND LOCK your loan with a To Be Determined property for a FULL UW commitment.
- Freddie Mac Multi Property and Fannie Mae Multi Property Program for borrowers with 7-10 investment properties OK. We love non-owner occupied properties. CHECK out our PRICING.
- 100% Gift Fund Down payment eligibility for conventional OO loans with 620 FICO.
- All MI is underwritten in house. One underwriter for every loan. Best execution price search for all MI partners: Genworth, MGIC, Essent and Radian. MI is available for second home purchases with 620 credit scores.
20.We are SELF EMPLOYED and INVESTMENT PROPERTY experts! Our underwriters can handle your most complicated borrowers with NO PRICING HITS.
WE ARE FAST. Purchases are prioritized over refinances, don’t let your Realtors down!
Policy Change: Lock’s no longer follow the borrower. NEW property, NEW market lock.
Borrower Paid broker compensation available. Don’t forget you can Lock TBD properties!
Underwriting help desk available until 5 pm Pacific time for after-hours assistance @ 866-945-9872
Marketing Ideas And Opportunites Little Things That Can Make A Big Impact
MARKET WHAT SETS YOU APART
Ok, I just gave you 20 more reasons people should do business with you.
So, put some of these advantageout there to your clients and social media in whatever format you choose.
If people do not know what you can do then they will not call you.
Some of these are great for realtors as well.
Now go get em!
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 |
