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THIS MORNINGS QUICK LOOK

1.  TOUR DE MTG FINANCE – Import Price Index
2.  PRODUCT HIGHLIGHT – Purchase Money Incentives
3.  MARKETING – Build Your Congregation

Tour De Mortgage Finance Learn Something New Everyday About Your Industry

IMPORT PRICE INDEX

This morning at 7:30 AM Eastern the IPI (Import Price Index) rolled out.

But what does that mean and why is it important?

As you begin to think about all these indexes that you hear about every day it truly is not that complicated. 

By definition index and specifically any price index is just a list of items that have a price attached to them and the index just shows how they changed over a given period. For us it is usually YOY (Year Over Year) or MOM (Month Over Month).

So, just take the first word of whatever is coming out that day and it should make somewhat sense.

In todays case it is Import Price Index. That means how did Import costs or expenses increase or decrease over the past year or past month. Based on that cost you can tell what that does to the economy.

So the IPI (Import Price Index) is what did it cost manufacturers to import a certain basket of goods that we consume. Based on that cost you know that the cost if higher will be passed on to consumers. If lower then that will result in lower prices. So, you have inflation or deflation and you can tell how it impacts the economy. Inflation is bad for rates because we are in fixed rate securities so the value of the dollar is less and deflation is good for rates. Means the value of the dollar is more and fixed rate securities do well in that environment.

For example it cost importers .4% more to import goods in September than it did in August. That = inflation in imports. YOY it has increased 9.2% so you can expect to pay 9.2% more for imported goods than you did last year. That is simplified but the concept is fairly easy to understand.

Share that at your next meeting in casual conversation and you will sound cooler than most other people : ) 

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

PURCHASE INCENTIVES

Effective with yesterdays pricing Flagstar is offering a .500 pricing incentive on all purchase money broker transactions.

Correspondent transactions will continue to receive a .375 bonus incentive on all purchase transactions.

Why the difference? Well, because correspondents have a little better pricing so there you go!

PLUS A LITTLE EXTRA
If you have a conv <80% LTV with 200K + loan size we are giving a pricing incentive of 20 BPS as well. Formerly, you needed a 760 score but now we are giving it at 700. Mo money mo money mo money. 

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

BUILD YOUR CONGRETATION

Some of you went to church this past Sunday and some of you did not. The importance is not whether you went to church or not but more importantly why did you go to church?

Was it the music, the pastor, the people, the coffee, the ability to take an hour break and drop your kids off at church and you get a short moment of peace.

It is funny when you talk to people about why they like or dislike certain churches. Typically most are for completely different reasons but each church is also known for usually a small few things that appeal to each individual that attends. 

The point today is not about church. The point is what kind of church congregation are you building? Are you building a congregation? A lot of people call it your community which is a great name for it but when you use the word congregation it seems to have more meaning, more purpose, more power to your movement.

What I want you to think about is not what product or service do you provide through your marketing and advertising but more importantly what congregation are you building that you are the senior pastor of. What is your message, what is your mission and what do people say about your congregation?

My church I lead and am the lead pastor (AKA – AE Flagstar) of is to be part of a congregation that wants to move forward in their careers, that is curious how the industry works, that wants to understand the inner workings of how and why we impact the community that we serve. I desire to provide knowledge and understanding to make you better every single day and by making you better I in turn am better at what I do and who I am.

I want to be part of you making a difference in your community. I am a missionary church with the purpose of helping plant congregations that know what they are doing, why they are doing it and being the best at what they do. 

I love my people and I am very proud of all of you that take the time to hone your crafts and get better day after day.

All others, well not really my problem. Go to church somewhere else that fits your needs. There is a congregation out there for everyone.

Turn Times As Of This Morning Lookin Good!