THIS MORNINGS QUICK LOOK

1.  TOUR DE MTG FINANCE – Last Week In MBS
2.  PRODUCT HIGHLIGHT –  Updated Lock & TBD Policy
3.  MARKETING – Do Your Future Self A Favor

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MBS UPDATE

I wanted to share the below pic with you that is the 4.5% conventional mortgage coupon.

This is the longest trading window we have been in over the last 6 months. A trading window is where a security trades within given tolerances and basically showing some stability.

We have been in this trading window since April 29th and within a close range of what it was on April 9th. If you look at Fridays close (right side in green) and compare to the 2nd red candle from the left you will see how close we were. 

I have no idea what news came out over the weekend or what the markets will open this morning with but I just wanted to give you a visual of somewhat stability over the past month.

Overall last week we gained 38 BPS in the conv market or $380 in premium per 100K loan amount and we gained 30 BPS in the govt market or $300 per 100K in loan amount so all in all a positive week.

Let’s see what this week brings us………..

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

NEW LOCK POLICY & TBD LOCK POLICY

Effective Friday May 20^th we will be putting in new lock extension costs. The reason is due to increased market costs to extend and hold locks and loans on our side.

In light of this here are the following changes:

1^st 3 days of first extension are free. After 3^rd extension you go to worse case pricing.

TBD UPDATED LOCK POLICY EFFECTIVE FOR NEW LOCKS
Good news is TBD locks will continue to be allowed to lock for a period of 60 – 90 days on eligible products. If the product you are requesting is not showing and you have TBD chosen it is likely not available on that product.

The NEW requirement is that we must receive a property address within our system within 30 days of the INITIAL lock expiration date.

If no address is received within this timeframe the lock may be subject to worse case pricing. Being one of the few lenders that allow Lock and Look on TBD’s and the current shortage of inventory the costs have been pretty high in locks that never close. 

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

DO YOUR FUTURE SELF A FAVOR

I thought of this as I was getting ready this morning and think it may help someone out there as I know I love it.

Someone told me a few years ago to do your future self a favor and make it easier on yourself to accomplish your goals or routine you have set for yourself.

Lets say you have a discipline that you currently do or want to start doing and is part of your morning routine.

At night before you go to bed completely set up your morning routine right before you go to bed so the day is waiting on you when you wake up. This also helps you go to bed with a smile on your face like you just helped out a friend.

As an example this is what I do and you can insert whatever routine you do.

Right before bed I fill up the coffee pot with water, I put my coffee pod and coffee mug in its position where I only have to hit start. I then put my toothbrush and tooth paste right next to the sink and next to that I put my shorts and shirt I will be putting on in the morning.

I do my reading and quiet time in my reclining sofa so on the table next to my chair I have my journal with pen, my journal I write my wifes love letter each morning with, my bible and whatever book I am reading currently and they are set perfectly for a welcoming feel and of course my blanket is sitting waiting for me.

Then when I enter my office my desk is always completely clean as I always have to have a clean desk.

Wala! You have done your future self a favor. This is not OCD or a freak of nature but it literally takes me about 2 minutes to do this if that and it motivates me to move through my process so much better.

What can you do for your future self to help obtain your goals?

If you workout in the morning having your workout routine set up is extremely helpful to make sure you actually do it because if you set it up to be done then it usually gives you that extra nudge to go forward with it.

Give it a try and see if it doesn’t start your day off right. You could also do this for your spouse or kids to make them feel loved but just do not come off as a controlling freak of nature : ) 

Turn Times As Of This Morning Lookin Good!