NOW ACCEPTING NEW CLIENTS FOR BROKER, NON-DELEGATED CORRESPONDENT, DELEGATED AND BULK. REPLY & LET’S CHAT.

THIS MORNINGS QUICK LOOK

1.  MBS – What Coupon Should I Watch
2.  PRODUCT HIGHLIGHT – Quoting The Right Product
3.  MARKETING – Google Alerts Keep You In The Know
4. TODAYS JACKISM – A Small But Necessary Piece

MBS Pricing, Market Conditions/Information Learning Something New Every Day

WHAT COUPON SHOULD I BE WATCHING

One of the best indicators as to which coupon you should be monitoring is to know which coupons are getting the most action. 

The best way to know which coupon is getting the most action is to know what the Fed is buying on any given day. 

Right now the biggest volume is coming from the 2 and the 2.5% coupon. 

As a reminder the coupon rate is the rate the end investor receives from each payment the borrower pays. 

Add typically 1% for guarantee fees and servicing etc and that is what current mortgage rates would be trading at so if you are quoting 3% the coupon you would be watching is the 2%. If you are quoting 3.5% mortgage rates watch the 2.5% coupon.

GET IMPORTANT UPDATES VIA TEXT PLUS DAILY MBS INFO
TEXT “I’M IN” TO 251-428-1564

FLAGSTAR JACK FREE MBS TRACKING SITE

Password is flagstarjack

Product Highlight of the Day Knowledge Gives You the Edge

QUOTING THE RIGHT PRODUCT FOR THE CUSTOMER

You may all say that you are giving the best service to your clients but in reality 95% of originators quote the best rate with the lowest closing costs to compete on a 30 year fixed. 

ADD 1 QUESTION – HOW LONG DO YOU INTEND ON LIVING IN YOUR HOME?

Some people plan on living in their home for the next 30 years but that is rarely the case.

Even if you are quoting only a 30 year fixed rate give them a quote of total costs using the time frame they give you of living in the home.

HOW?
Option 1 – Best rate and lowest closing costs you can do. 30 yr cost.
Option 2 – Different rates that alter closing costs paid over the term they plan on being in the home.

Provide say 3 different interest rates.
1 with no closing costs,1 with full closing costs and 1 middle of road.
Then on those 3 rates calculate closing, interest paid using amortization schedule for time frame of expectation of living in home and MI paid if applicable.

Test it and see how your clients react

Marketing Opportunites Using Industry News Whatever is Happening Use it

GOOGLE ALERTS TO STAY IN THE KNOW

Need a reason to reach out to a realtor or referral source or a local company you are monitoring?

Use google alerts to receive information every time a search is completed on someone you are interested in following.

Simply go to www.google.com/alerts#
Enter the search criteria for ex. “ABC Mortgage”
Or “John Doe” or Your NMLS, Email, Phone #.
Add the alert then edit to choose how to receive.
How often, source, language, region which ones and deliver to.

Make sure you use parenthesis before and after search criteria. You can also search right from that screen. Also, choose US for region.

What a great way to be able to reach out to someone when something pops up on the web.

We are a small but necessary part of a masterpiece.

It has been a journey of reflection since my last Jackism post on April 26th. God was working on my heart in understanding the why behind these writings He had me start and I look forward to what small part I can play in the paths of those I encounter.

I was a couple hours in to my quiet time this morning when He gave me a beautiful picture and understanding of one of my roles in this life and the importance of the role others play in my life. He showed me that we are a small piece of the puzzle but a very necessary piece to complete a puzzle that becomes a masterpiece at the end of each day.

Everyday we all play a small part in what God or your choice of inspiration is doing in the lives of every person we encounter. Everyday is a new puzzle that we start in the morning when we awake and in the evening as we lie down to rest that final piece is put in place to complete that days puzzle which becomes a masterpiece for every day we live. Then it is added to our gallery of life that represents each day of our lives and the contributions we made to it.

It is kind of beautiful knowing that each day is a new masterpiece that we create through each and every encounter we have with the world. To know that we are creating our own each day but also knowing that every person we encounter is also creating their own masterpiece.

This is an opportunity for each of us to be an artist in the lives of the people we encounter each day. What kind of artist are you? What piece of the puzzle are you contributing to the masterpiece of each person that you encounter that is creating their own.

Be confident in a few things. If you always do what is right then you will never be wrong and also remember you are only 1 small piece of the puzzle in the lives of others. Just be the best you that you can be for the sake of others and trust and know that the Lord knows what He is doing and only needs you to do your small part of the puzzle in other’s lives while creating your own masterpiece that others are playing in your life.

Live your day today in the knowledge that you are an artist helping make some great masterpieces for those you encounter.

Turn Times As Of This Morning Lookin Good!