THIS MORNINGS QUICK LOOK
- TOUR DE MTG FINANCE – MBS Update
- PRODUCT HIGHLIGHT – Clear To Close In 1 Touch
- MARKETING – When Receiving Is Better Than Giving
Tour De Mortgage Finance Learn Something New Everyday About Your Industry
MBS UPDATE
Last Monday we opened in the conv market at 102.48 and we closed out Friday at 101.984 so last week we lost 50 BPS or $500 for every 100K in loan amount on conventional loans.
On govt loans we opened at 102.172 Monday morning and closed out Friday at 102.016 so we lost 16 BPS or $160 per 100K in loan amount. Good to understand the conv and govt although similar are not always the same.
Govt loans saw a spread of 20 BPS between the best and worst pricing of the week and conv between the highest and lowest of the week was an 88 BPS spread.
Again, as I preach, week to week usually is not horribly different but the gaps in between can be. Know where we are when you are locking.
This week we have Tuesday filled with Producer Price Index that can modify markets then a huge day on Wednesday with Powell speaking, FOMC projections and some major market mover comments so be prepared mainly on Wednesday mid day.
To get your morning MBS update when rates come out each morning text “I’m In” to 251-428-1564 and you have access to my FREE MBS TRACKING SITE and the password is flagstarjack.
Product & Guideline Highlight Knowledge That Gives You An Edge Over Your Competition
CHECKLIST FOR A 1 TOUCH CLOSED LOAN
Lucy was having a bad morning the other day and said JACK, why is it that I have to look at a file 10 times before getting it closed. It is so frustrating and she said underwriters are just dumb dumb heads!”.
I smiled at Lucy as I do often and said “Oh Lucy, I think the issue is the one that looks back in the mirror. I think highly of you Lucy but honestly I think it is because, well your lazy.”
WHAT?!%#& Lucy Said……(Lucy can be feisty)
Let’s be honest. When you get busy you throw stuff up and just wait for the approval. Then once approved you send stuff up as you get it (bad idea) and then you are running around with your head cutoff at the end of the loan.
Sound familiar?
Click on this link to get a copy of something a fellow AE created as a reminder of a few items that will help you get your loan clear to close the first time.
Hope this helps.
Marketing Ideas And Opportunites Little Things That Can Make A Big Impact
WHEN RECEIVING IS AS GOOD AS GIVING
Many of you have the same heart as me when you wake up in the morning. You say to yourself “How can I make a difference in the lives of those I come in to contact with today?”.
That is a very important question and can be life changing for the lives you encounter.
BUT, I was having my quiet time and spending some time in prayer and chatting with the big dawg upstairs about how He can use me today and then it hit me straight in the face. BAM!
I was being horribly selfish. Yep, you heard it. Anguishly selfish. Don’t worry I still wake up daily with that question, BUTTTTTTT:
What about every other person in my life that wakes up with the same question?
My point here is make sure you realize when someone is trying to make an impact in your life then with joy accept what they are offering and listen.
You are actually impacting them by receiving the gift they desire to give the most which is to impact others and in this case YOU or ME!
We all feel better about ourselves when we GIVE but don’t forget to allow yourself to RECEIVE what others desperately want to GIVE.
Things that make you go hmmmmm. Look for your opportunity today to make someone else’s day by saying thank you for the gift they are to you.
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 | 2 |
| USDA | 2 | 2 |
| Jumbo | 1 | 1 |
| Conditions | 1 | 1 |
