THIS MORNINGS QUICK LOOK

1.  TOUR DE MTG FINANCE – The FED Spoke
2.  PRODUCT HIGHLIGHT –  Govt Business Percentages
3.  MARKETING – 5 Steps To A Bad Decision

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THE FED SPOKE

If you have never listened to a FOMC (Federal Open Market Committee) (The FED) press conference I suggest you listen to one. Here is a link to a 47 minute version from YouTube if you are interested.
The first 7 minutes 38 seconds is the initial statement and the remaining is questions.
FOMC PRESS CONFERENCE

Basically, they stated they raised the short term rates 50 bps as expected and will likely continue to do so the next couple meetings. 

The ARE going to reduce the balance sheet by 17.5B per month for the next 3 months and 35B per month thereafter. I do believe that is less than expected but still reducing the balance sheet.

Yesterday, immediately following the press conference we lost 37 bps on the day. Within an hour we were up 37 bps and ended the day up 58 bps on the day so the market did respond quite well yesterday. 

I will be on vacation today and tomorrow and returning Monday.

Have a great day!

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

GOVT BUSINESS PERCENTAGES

Lucy and I were reading one of the reports we get from corporate and this one was kind of interesting.
 
It breaks down the percentage of loans for each credit score bracket based on whether you are broker or non-delegated correspondent.
 
Two things to look at. You can see where the sweet spot is for FHA loans as it pertains to credit scores overall but you can also see where you compare when you look at your % of business in different credit score tiers.
 
The most fascinating part I noticed is these %’s represent 300 Million in locks over some short period of time they were reviewing and on the FHA volume brokers did 2 times as much FHA business as non-delegated correspondents.
 
But, non-delegated correspondents did 3 times more VA volume than brokers did.
 
That was very interesting to me. Why are non-dels doing a lot less FHA and brokers doing a lot less VA.

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

5 STEPS TO A BAD DECISION

In your car you usually get a few warning signs before something actually breaks.
 
They call them dummy lights and well I can say in my old days I have ignored some of those lights and ended up on the side of the road.
 
We do a few things before we make a bad decision and I think it is a cool idea to go over what happens before a bad decision derails you in to consequences we do not always like.
 
This process works for anything whether business or personal and it is all internal with you.
 
Here is the flow of a bad decision.
 
You have a thought.
That thought makes you imagine what it could be.
You then justify that imagination you created.
You make a choice to move forward.
Consequences of your actions happen.
 
Now, you know me and the above is actually the formula of committing sin but think about it in every situation you have whether making a marketing decision or starting a business or a relationship you want to start with someone or anything.
 
There is absolutely nothing wrong with having thoughts. The problem is when that thought begins to create a new story in an area of your life that may not be the wisest one. This happens a lot with shopping for cars or clothes or anything money related and of course other personal and business decisions in our lives. We can justify just about anything in the moment. Then we pull the trigger and wala we have buyer’s remorse or business decision remorse.
 
This goes back to my old faithful rule. If I have a thought and if the thought is not a heck yeah then the answer is no. This has saved me more times than I can count.
 
If you can’t say heck yeah this is the absolute best route to take stop the imagination and move on and get back to what will not lead you to bad decisions.
 
That thoughts are you having right now or going through in business and in personal that you know the answer is not heck yeah yet you are moving forward anyway.
 
They call them dummy lights for a reason. They tell you when to pull over and get a fresh check up on what is happening under the hood.
 
THOUGHT – IMAGINATION – JUSTIFICATION – CHOICE – CONSEQUENCE

Turn Times As Of This Morning Lookin Good!