This is a short good habit building reminder:
Check your market (short and long-term):
- Behind The Mortgage: Monday Market Commentary: Mortgage Rates Holding Steady ahead of Fed Meeting
- The Mortgage Reports Blog: Bankrate.com Mortgage Trend Index (May 3, 2007)
- Bankrate
- MBAA
- FDIC
Check mortgage product trends:
- Unfortunately, I haven’t found an easy, free, way to do this so you will have to start your own ticker
- My initial suggestion…track the home pages and public statements of the big boys: Countrywide (who recently reported they are canning their pay-option products), Quicken Loans (who’s SecureAdvantage, a pay-option product, just vanished from the face of all advertising), that right their should give you all a full months production saving these clients from neg-am mayhem
- If you are buying Internet leads chances are these are the clients you are getting and the players with which you are competing–so know the current and past product mix
- If anyone else finds a good resource for doing this–let us know with a comment
Update your playbook:
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About Bill Rice
