🔥 What a friggin week! - The Letter X

Nov 07, 2020 2:16 pm



Presented by: EPM


I don't know about you but I need a drink! 😉


But don't worry this week's TLX will NOT be about the election. Facebook and Social Media at large will take care of beating that dead horse, so let’s take a respite from that and focus on what WE can control. 

And what we can control is OUR business.

As of today we have 54 days left in 2020. What are you going to do with them?

I am sure for some the end of “the year from hell” can’t come quick enough, but truth be told there is no magic switch that happens at midnight December 31st. BUT as humans we like the thought of new beginnings and I am not one to rain on anyone’s parade (Unless you are EllieMae), so let’s focus on finishing 2020 strong. 

Here are some ideas to do EACH DAY to close out the year:

  • Post a 60-90 second video on Social
  • Do something nice for someone
  • Call past clients and referral partners just to say “hi”
  • Meet someone know and have a conversation
  • Wake up an hour earlier
  • Workout for 30 minutes
  • Read a chapter of a book
  • Learn more about the tools you use or learn something new?

All of these things and more can be done to help with your personal or professional development. Why not take some time to invest in yourself?

54 days people! Make them count! 

Excited to welcome Fobby Naghmi as a new contributor to TLX, so I hope you enjoy this week’s edition!


Say Yes Every Day 

Laura Brandao - President of AFR Wholesale


This week Say Yes to shaping your reality!  Each one of us has a different perception of what is occurring, one person may see it as a struggle and another could become excited at the challenge and a 3rd may break down and give up.  We all have the ability to view our world through our own lens so put on your rose colored glasses!



Mortgage Rate X

Lender Price Friday Rate Lookback





Diana Bajramovic of MBS Highway


Appreciation Keeps on Keeping On

CoreLogic released their Home Price Index for September and stated that we have seen depreciation in housing by 6.6%.  This is totally false as appreciation in the last year was up 6.7%!  They also forecasted that appreciation would rise by 0.2% in the next year.  In September alone, appreciation was up 1.7%, which would add up to about 13% annually.  While this might not be sustainable, these are some extremely strong appreciation numbers.  Within CoreLogic’s Home Price Index, Phoenix led the way with an increase of 11.1%, followed by San Diego with an increase of 7.1% and Los Angeles with an increase of 6.3%.


Jobs Week

According to the ADP Employment Report, there were 365,000 jobs created last month.  The market was expecting nearly double this number in job creations.  While we’re still seeing job gains, it’s slower than what we were anticipating.  The BLS Jobs Report stated that there were 638,000 jobs created in October, exceeding expectations of 600,000 on the Headline number (Business Survey).  The Unemployment Rate, on the other hand, comes from the Household Survey.  The Household Survey is where phone calls are made to individuals to develop the unemployment rate, which was expected to drop from 7.9% to 7.7%, but dropped steeply to 6.9%.


Be sure to watch the MBS Highway Morning Update for daily statistics and analysis from Barry Habib and the MBS Highway team.


We’ve been seeing record numbers and concern of increasing COVID-19 cases, so we broke it all down with Dr. Mike Roizen on our recent Facebook Live.  Check it out here!


The News X Recap!


AIME’s Weekly Sales Meeting with Marc Summers and Rene Rodriguez talked this week about growing your brokerage in 2021

One in five New York City tenants did not pay rent in September, by one estimate, and there is growing concern of “an eviction tsunami.”

Commercial and multifamily mortgage bankers are expected to close $395 billion of loans backed by income-producing properties in 2020, a 34 percent decline from 2019’s record $601 billion, according to a new Mortgage Bankers Association forecast.

Barry Habib, CEO of MBS Highway, TV commentator and author, made his return to the Mortgage Leadership Outlook on Wednesday. Habib and series' host Andrew Berman, discussed the possible impacts on the housing industry following the 2020 elections and 2021 predictions on rates

Does lack of stimulus and Corona fears mean lower rates? Freddie Mac reported Thursday, Nov. 5, that rates fell to their 12th record low of 2020, with the 30-year fixed-rate landing at 2.78%. Freddie Mac Chief Economist Sam Khater attributes this latest record to “economic and political ambiguity.”

Forbearance: Another round of expirations reduced the number of active forbearance plans last week. Black Knight said the number of homeowners in COVID-19 related plans fell by 137,000 during the week, after a slight uptick the week before.

Losing thousands per transaction doesn’t seem to deter the bullish outlook on top iBuyers. Opendoor, Zillow Are Losing Tens Of Thousands On Each IBuyer Home.

Bowtie Economist Quick Hits


Since 1860, a Republican has occupied the White House for 95 years, a Democrat 65. The annualized S&P 500 return during the 65 Democratic years of control was 8.4%, 8.3% when the President was a Republican, a statistically insignificant difference. From 1929-2019 one party controlled both ends of Pennsylvania Avenue for 45 years and the S&P 500 return averaged 7.45% during those years; the other 46 years, it was 7.26%/year.

Overall undergraduate populations shrank 4% this fall, compared to just 1.1% last year, and freshman counts declined by a whopping 16.1%, compared to 0.4% in 2019. Overall male enrollment slid 6.4%, and 18.1% for freshmen, while total female enrollment fell just 2.2%, 14.6% for first year women. Graduate enrollment rose by 2.7%, compared to a 0.9% rise in 2019. Covid-19 is forcing a rethink on largely resistant higher education institutions.


Good things come to those who Mastermind! Have you joined the Mortgage X Mastermind yet? I would like to invite you to join our community that is 100% focused on helping MODERN industry professionals crush it. 


The Vieaux

Brian Vieaux - President of FinLocker

One of the fun parts of participating in this weekly newsletter is predicting the theme of the week. I have a good idea what most will be writing about and my first inclination was to go in a different direction. What fun would that be? As I am putting the final touches on this week’s edition, we still do not have a winner in the presidential election. The election promised to be historical and certainly has lived up to the hype. After months of negativity spewing from the candidates, we are close to an end. 

As frustrating as the divisiveness has been, I am so proud to be an American. Despite the pandemic, economic challenges and understandable fatigue, the citizens of our great country exercised their right like no other election before. A record number of voters on both sides “showed up” at the polls.  Young people especially did their civic duty.  My frustration that peaked early in the week has gradually pivoted to hope and optimism. I am hopeful that we reached the absolute low point and can now begin to return to greatness… TOGETHER!  

Today I am sharing my message of hope to all of you.  I hope for unity, love, and respect for all. I hope for health and safety for all. I hope for our leaders to work together on behalf of everyone. This feeling of hope and optimism feels good. Have a great weekend…


Lending, Leadership and Life

Eddy Perez – President & CEO of EPM

If you could have dinner with anybody, living or dead, who would you choose?




Non-QM X: Highly Qualified Non-QM News

Tom Hutchens - EVP of Production at Angel Oak Mortgage Solutions

Shift your business towards the future with non-QM

Mortgage rates have hit their lowest level on record during the coronavirus downturn, spurring a refinancing boom and providing a slew of new business for originators. In a post-refi, 2021 purchase market world, we expect demand will continue for non-QM brokers. Why? Because the pool of non-QM borrowers is expanding as more people buy homes or experience a negative credit event due to the COVID-19 pandemic.

There will be more borrowers in need of non-QM options. Non-QM brokers who start marketing and promoting their business now will be in a better position for business growth after the refi boom.

More gig economy workers will need your help

The pandemic not only impacted individuals’ credit scores, it also provoked massive layoffs across industries. More and more people are entering the gig economy workforce or starting out on their own as a business owner. This means more people will need access to programs like a bank statement or 1099 program that you can provide.

More property investors will take advantage of the market environment

At the same time, investors will continue to search for attractive investment properties at a time when more individuals are leaving the city or seeking out bigger spaces but still open to renting, the demand for investor loan products will also likely rise.

Given the shifting mortgage landscape, now is the time to focus on non-QM to help your business continue to boom in the aftermath. We are here to help if need be!


Mamapreneur: Real Talk with a Side of Mom Jeans

Jess Vogelpohl Southwest Coaching


Breaking news:

‼️ If you are in sales - don't be so quick to lay your "case" out. Be in a hurry to hear the other side out and then begin to connect on a human level ‼️


➡️ Connect, find the need, dig the emotional connection to the need, THEN and ONLY then - show them you are the remedy. No pain, no change.


Let's make SALES human again!👯‍♀️


Podcast of the Week!

Susan Rocco - Positively Charged Biz



Podcasts of the REAL Disrupt Network

Positively Charged

The Marketing Trench

Confident Closers

Blondes Have More Funds

Next Level Loan Officers

Laugh Lend and Eat

Treasure Coast Podcast

Charlotte Real Estate Buzz

Culture Matters Podcast

Virtual Coffee with Estie Briggs

Mortgage X Podcast

Mortgage Interrupt


Mortgage Industry Professional of the Week

Marvin Colon - MORTFLIX



Make sure you tell Marvin you saw him in The Letter X!


Beyond The Numbers

Fobby Naghmi, EVP, National Sales Mgr. of First Option Mortgage

Once on a business trip to Chicago, I took my mother along so she could visit her brother.  Since I was a seasoned business traveler who could live out of a carry on for days, I had not checked in luggage for some time. My mother however was not and had checked in her suitcase of “stuff” for the two day stay. 

At the luggage carousel I observed fellow travelers picking up a suitcase and then putting that same suitcase back. It had looked like their luggage; same color, pattern, same company…but upon closer scrutiny it had turned out to be someone else’s.  So, they had put it back.  It made me realize that in life we often pick up someone else’s metaphorical “luggage”, the polite thing to do is to put it back.

The Edumarketer

Ginger Bell

The Three E’s of Content Marketing 

I was speaking at marketing conference last year. A session I was excited about attending was on what to post on social media. One of the panelists in the session said that it really didn’t matter what you post on social media as long as you are posting. He then promptly brought out his phone and began recording a live video saying that he was speaking at a conference on social media. Really? I thought. Sure it’s good to brand yourself as an expert in what you do but it would be better to do a video stating that he was speaking at a conference talking about the top three messages that are easy to create on social media that drives attention. That message would leave his audience wondering what they were. 

They may even post something in the chat asking him to share. He could later go on and share his three tips on social and link back to speaking at the conference. Just shooting a video stating you are someone is like telling someone you are going to Starbucks for a latte. Unless you are bringing me one back, why should I care. Don’t get me wrong. You can post fun photos and videos, but when it comes to business videos. Always lead with value. While a short, “Hey, I’m at the Ritz Carlton” may be good once in a while, if you do nothing but post blank messages, people will tune out. It’s like fishing with no bait on. Why on earth would you think you would catch a fish with just a pole. You need bait and you need to know what kind of bait the fish are biting on.  The right bait, in the right fishing hole at the right time usually results in fish on the line. Now it’s up to you to reel them in.  

As for posting content on social media, I would rather lead from a mix of valuable content that Educates, Entertains or Enlightens. It’s what I call The Three E’s of Content Marketing. (It’s not rocket science, but it is surprising how many people don’t do it.) Now, you may be able to combine all three into one message, but usually you can pick one. Let’s look at Educate, which is my favorite.

Educational Content

There are plenty of things you can educate on in the mortgage industry. Pick one. Keep it simple and be consistent. If you don’t have time to write your own content or develop your own video, then at least share an article or guideline update. Stop posting that you just closed on another loan or that rates or low. It means nothing to anyone except you. Consumers are looking for information and your post or video could be what they are looking for. We have also seen many educational videos shared, over and over again to others. In fact, we recently had one of our client’s videos shared by two big veterans organizations. You never know who is watching you on social media and valuable content gets shared. Think about all the topics you could create educational content around. For example, you could do a video around down payment options, or what is MI. You could shoot a video about the top three things you need to do before you buy your first home. The topics are endless.  

The next E is Entertain.

Entertaining Content

Not my specialty, but I have been known to garner some Michigan mittens to promote a session I was doing for the Michigan Mortgage Lenders virtual conference a few months ago.  Think of fun short videos you may do on what someone thinks happens when you get a mortgage vs what really happens. Ken Perry with the Knowledge Coop does an incredible job creating entertaining continuing education content. Always be sure to be sensitive to others so that you don’t offend anyone. Get creative because, mortgages don’t always have to be serious. Once in a while feel free to make people laugh.

Finally, the third E, which is Enlighten.

Enlightening Content

Creating enlightening content can really mean two things. The first is to inform which also links in with educational content. I like to think of it as “bring attention to” something. It may be informing real estate professionals about the misconception of the VA home loan process, or the real difference between pre-approved and pre-qualified. Informative enlightening content is meant to raise awareness or bring attention to something in a positive way.

The other meaning of enlightening content is more in the lines of inspiring. You know, the Oprah Winfrey stuff. You may think you don’t have any enlightening content, but tell me the last time you had someone in tears in your office because they were getting into their first home? Or the single parent who you were able to get qualified when no one else could. These are some of the best stories. It takes some time to create enlightening, inspirational content, but the message is important and one that resonates with consumers. Make a list of some of your clients who where inspired by what you did for them.  

If you want to build value, create content that fits into The Three E’s of content marketing:

Educate, Entertain or Enlighten

In my next article, I will share how to make your message crystal clear.

 Mortgage X Marketing Maifesto

Andew Pawlak, CEO of Leadpops

Important Marketing Acronyms to Know: 


These get thrown around a lot, and besides just knowing what they mean, many of these are important

KPIs (Key Performance Indicators -- I bet you already knew that one!) to track for your business. 


Let's break a few of the top ones down:

  • CMS = Content Management System
  • CPA / CPFL = Cost Per Acquisition / Cost Per Funded Loan
  • CPC = Cost Per Click
  • CPL = Cost Per Lead
  • CPM = Cost Per Thousand
  • CRO = Conversion Rate Optimization 😍   
  • CTA = Call-to-Action
  • CTR = Click Through Rate
  • CX = Customer Experience
  • GA = Google Analytics
  • PPC = Pay Per Click
  • PR = Public Relations
  • SEO = Search Engine Optimization
  • SMM - Social Media Marketing

Thanks, and I'll catch you on next week's The Letter X! 

Thanks for checking out this week's tips, and I'll catch you on next week's The Letter X! 

Remember to share your personal referral link below for a chance to win a $50 Amazon Gift Card! I hope you enjoyed TLX #29! Have a great weekend.