Where R Rates / MBS Market Update

BIG NEWS WEEK

You are receiving this email earlier than normal as I am in corporate meetings all day today and tomorrow so I can tell you what happened in the MBS previously and what is to come. Just not where we are this morning as I will be unavailable.

Last week we lost a bit of ground with a lot of that coming last Tuesday and some on Wednesday. We actually bounced back on Thursday and Friday so we were on a good trend to end the week last week.

We do have some big reports coming this week that could be potential market movers. 

On Tuesday and Wednesday we have another Fed Meeting so we will get to hear an update on where the economy is heading and the thoughts on where the Fed believes we are headed and this will be the first one after Trump has taken office. Expectations at this moment is no interest rate cut this month. The next meeting is not until mid March. 

On Thursday we have GDP which is a big economy number and one that can cause a little volatility and then on Friday we have PCE (Personal Consumption Expenditures) which is a big inflation number.

Put all of those together and it is the making of a fun week in the MBS market. Just remember that there is absolutely nothing you can do about any of those reports. All you can do is take what you have and provide an amazing service to your clients and referral partners as we navigate through this new year.

I will be back to my regular scheduled morning update times this Wednesday.

GREEN is GOOD for Rates – RED is BAD for Rates

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Product & Guideline Highlights

CALCULATE CORRECT INCOME

We have all dealt with trying to figure out how to calculate self employment income. Fannie Mae has a great system you can use which I have written about before. All you need is an NMLS ID and you have access to a great tool.

Today is not about self employment income. Today is about salary, hourly, OT, bonus, commission type income and a great calculator that you can input the numbers and out pops the results.

Enact created this specific worksheet and it is a great one to have saved on your desktop.

Simply download the below income calculator worksheet and give it a try on your next loan you look at. In addition, to make it even better for the person underwriting your loan upload a copy of your results so they know how you came up with the income you provided on the AUS.

You may need to save the worksheet in the proper way in order to be able to input numbers. Usually this means saving it as an editable file.

DOWNLOAD WORKSHEET HERE
INCOME CALCULATOR WORKSHEET

Jackism of the Day

RESULTS MULTIPLIED

People have this theory that sales is hard. Or that achieving the results in whatever position you have is hard. Or for that matter that marriage and relationships is hard.

In truth, it really is not that hard. You just have to know how to get sales, achieve results and understand how relationships and marriage works.

It is a good day because I have one of the best truths in life that can help you get everything you ever wanted in life. HA! I wish it was that easy although it can be with the right attitude and doing the right things.

Here is the truth.
You can get everything that you want IF you can give everything the other person wants from you.

Hmmmm, let’s think about that for a moment.

If your in sales. Imagine giving your client or referral partner everything they want and expect from what you provide as a service. Would you get what you want? More referrals, better closings, higher sales volume etc. If you had the best service and results and satisfied customers would your business multiply 1x, 10x 100x’s? Yes it would.

If your a processor and you want greater responsibility or moving up or a higher pay. What do you think the best way to get that is? Perform at a level that gives the person making these decisions everything they want which is usually efficiency, thoroughness, attitude and can do mindset. Would you get a raise or be highly sought after? Yep, you would be.

As an AE. If I give you everything you want from a lender with accurate underwriting, fast response times, great rates, knowledgeable answers to scenarios and questions and being available would I earn your business? You betcha I would and I do.

How about your spouse? If you made all of your spouses dreams come true because they are with you, how do you think their attitude and response to you will be? If you love them and respect them and lift them up and provide for them and care for them would they respond in like? I guarantee they will.

Pick a position, a relationship, a role in this world and just ask yourself if they were to get what they wanted, would that in turn get you wha you are trying to do?

Yes, is the answer. Now you just need to figure out how to do a better job at helping others get what they want so that you can see the results of your own goals.

If you always start with trying to get what you want I assure you that others will not be so inclined to be the one that gives it to you.

Make it a great day just because you can!