THIS MORNINGS QUICK LOOK

1.  TOUR DE MTG FINANCE – Fear Is In The Air
2.  PRODUCT HIGHLIGHT – Jumbo Just Got Easier
3.  MARKETING – Gaming Your Productivity

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FEAR IS IN THE AIR

I ended the day yesterday with lock alerts ringing all over my text and email and voicemail from the different systems I monitor.

Combined with loan officers calling and emailing me saying they need something done to a file so they can get it locked asap before they completely lose all of their deals.

Small panic attacks and comments are coming from different directions it seems on a daily basis.

We have been programmed to fear the worst after the last 5 or 6 months and rightly so honestly. BUT, my point today is it is more important now than ever to actually know where you are in the market. 

Fear and worry and anxiety will destroy you my friends. Instead, just replace it with understanding, gaining knowledge and giving wisdom to those that are experiencing fear, worry and anxiety. 

It is my prayer that is what I am doing each day but I assure you I have many moments myself living in the what if world. 

It is 5:52 AM this morning as I write this and I have no idea what will happen today but I want to share where you are actually right now.

This is one of the longest trading windows we have been in over the last 5 or 6 months. The first one on the left is April 5th and the furthest right is yesterday April 27th.

That is a difference of 78 BPS on conv loans basically this month. Compared to a loss of 220 BPS in March in Conv. But more importantly it has not broken through the floors and ceilings so it is trading in normal trading grounds. This is encouraging believe it or not. 

Continue to monitor as we search for the bottom of the market.

If you are not monitoring my free MBS site at JACKS FREE MBS SITE with a password of flagstarjack or not getting my morning MBS alerts you can sign up for free above then, well, enjoy your fear, worry and anxiety and I will see you right back here tomorrow morning : ) 

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

JUMBO JUST GOT EASIER

The increase in jumbo volume especially on the Arms recently with me has been enormous.

In order to help expedite the process on jumbo loans that we hold for investment we are no longer going to be requiring a CDA (Collateral Desktop Analysis) aka desk review.

This applies to our Jumbo Advantage, Jumbo Arms and Doctor Loan programs.

The CDA still applies to Jumbo Express due to how we sell those loans. 

This is less fees to the borrower and shorter turn time in getting the appraisal signed off on. 

If your not quoting Arms on Jumbo then you are missing out.

This is effective tomorrow April 29th for all loans approved assuming official memo goes out this afternoon.

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

GAMING YOUR PRODUCTIVITY

If you were to give yourself a score each day on your level of productivity how well do you think you would do?
 
Here is an idea or a challenge to help increase your productivity of doing what actually needs to be done in order to be successful in the manner in which you desire.
 
Today is about YOU! Implementing and getting buy in from an owner’s perspective is a great idea but not easy at all to initiate the full buy in from an entire team but this does work for an individual who wants to compete with themselves.
 
First, you must know what makes it rain in your position within your company. Stated otherwise what do you do that produces revenue or however you contribute to the business or personal machine. Ooooh, this can so be used in your personal life as well. Heck yeah!
 
Ok, write down what makes it rain. If you are a loan officer I am telling you right now you are NOT allowed to put down processing your files and following up on documents as one of the items that makes it rain. Even if it does you cannot use it. That is a processors job and you are an originator so every minute you are processing you are not originating.
 
Ok, get off your high horse I know all the responses but just humor me any way.
 
Now, that you have the list of items you do that makes it rain which usually involves marketing, prospecting, writing letters, phone calls, adding people to lists, honing your craft, visiting referral sources etc.
 
What you do next is you put a number value from 1 – 10 as to the amount it helps make it rain. Then at the end of the day you add up your score.
 
Then each day you get up and try to beat the previous days score. You are welcome to compete with others but the best person to compete with is yourselves.
 
The days you score a 0, well you know you scored a 0 and the days you knocked it out of the park will be known as well. Heck, post it on your wall daily so others can see or so your boss can see. They will love it!
 
Send me your list and I will tell you if the list is legit or not and give you some ideas of what you may need to add.
 
Try this with your role as spouse or parent. Just dang! I am doing it. I am doing both business, husband and DAD.
 
Good luck!

Turn Times As Of This Morning Lookin Good!