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THIS MORNINGS QUICK LOOK

1.  TOUR DE MTG FINANCE – Housing Starts
2.  PRODUCT HIGHLIGHT – Big Jumbo Changes
3.  MARKETING – Be Careful Where You Build Your Business

Tour De Mortgage Finance Learn Something New Everyday About Your Industry

HOUSING STARTS

Housing starts come out this morning at 8:30 AM EST. 

So, what are housing starts?

Housing starts count the number of single unit homes or apartments that construction has been started on in that month. This is for both publicly and privately owned units. 

This gives us an idea of where we are heading in the housing market by how much is being built which shows the demand that is out there for our housing market and how much will be available in the coming months.

In addition, the report shows building permits, housing starts AND housing completions. Pretty cool to look at if you ask me : ) 

As an example, this link will bring you to Octobers results given last month for September. So the results which comes out after this email will be for October that is being reported in November.

CLICK THIS LINK FOR OCTOBER 2021 REPORT

Now you know…………

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

JUMBO JUST GOT EVEN MORE AWESOME

On this past Monday we rolled out some new additions and changes to the jumbo product.

JUMBO ARM CHANGES
We now have a 5 yr, 7 yr with 10 yr SOFR product. 
We reduced required reserves.
We increased cash-out to 750K
All approvals run through AUS
Tradelines are 2 for 12 or 1 for 12 & 12 month rent
We follow DU derog requirements
Except Ch 13 must be discharged 4 yrs

JUMBO EXPRESS CHANGES
500K Cash-Out >55% LTV
750K Cash-Out <55% LTV

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

BE CAREFUL WHERE YOU BUILD YOUR BUSINESS

I learned this from Darren Hardy on a recent seminar and it really made me think.

The concept is understanding how the big companies work like Amazon, Google, Apple and Facebook and how their process works and the amount of control that they have over businesses.

As an example, if you are a business owner that sells products on Amazon and you have a product that does extremely well and sells a ton of product then the algorithms within Amazon figures this out and Amazon has the ability of course to sell the same or similar product and advertise it as an Amazon Choice product and at the same time push that products business down the pages of results resulting in destruction to that business. So, Amazon can control where you are and what they want to sell.

Same for google. Google dictates where you go in the line-up and did you ever notice that google does not want you to leave? Google something and it gives you a paragraph description which are all from advertisers paying of course then look to see if they do not bring up about 15 questions related to what you asked with little dropdown arrows. Everything is done to keep you on google without ever going to a website not owned by them where advertising funds are lost. 

The point is never to put all of your eggs in to the basket of the big boys. If your entire business model is on Facebook, Google, Amazon or in the Apple Cloud and they decide to change something or shut you down how much will you survive.

Always use these services to grow your business but always point your clients back to the software that you control. Your website, your pages, your systems and processes. Use them but do not get abused by them. 

Just a little something to think about ………

Turn Times As Of This Morning Lookin Good!