We fought the law.... - The Letter X

Aug 29, 2020 1:25 pm



Presented by: EPM

Annnd the law didn’t win….at least for now. The Federal Housing Finance Agency this week announced Fannie Mae and Freddie Mac would delay implementation of a controversial Adverse Market Refinance Fee by two months, to Dec. 1.

This was a result of a collective effort of lobbying, but no one was more at the forefront of this than the Mortgage Action Alliance

My friends, I used to be one of those “leave me alone and let me work” mortgage professionals who didn’t really care to get involved. I was wrong. Now more than ever it is important that we have a voice and that we support those organizations that help. Through MAA’s call to action we generated over 85,000 messages to members of congress and produced memos and calls from members from both parties. It can make a difference. 

Joining MAA is FREE so there is no excuse NOT to get involved. On top of that I also recommend you contribute to MORPAC so that we can support the efforts of candidates whose views and voting records reflect the interests of our industry. 

This weekend I am sending you TLX from the beautiful gulf coast in Florida where I am attending EPM’s leadership retreat with horrible wifi, so there will be no images in this issue..

But even with that, I am excited to bring in some new content from a new contributor this week as I continue to give you the best of the best when it comes to the “un-newsletter”. Enjoy!

Say Yes Every Day 

Laura Brandao - President of AFR Wholesale

This week say YES to gratitude!  True happiness and fulfillment starts with being grateful for your life, remember this is the life that you are creating every single day so today be grateful for all of your blessings.

Sharing is Caring! Remember to share your personal referral link (bottom of email) for a chance to win a $50 Amazon Gift Card! 


Presented By: MBS Highway

Powell Speaks

Fed Chair, Jerome Powell, announced a major policy shift on Thursday that stated the Federal Reserve will allow inflation to moderately run hotter than their 2% goal to support the labor market and economy.  As long as inflation doesn’t start to get too hot, the Fed will be less inclined to hike interest rates when the unemployment rate falls.


Last week the FHFA announced that it will postpone the 0.5% refinance fee until December 1st.  It seems everyone is celebrating that the fee has been delayed, but has anything really changed?  Though it may feel like a minor victory for the mortgage industry, it'll still be negatively impacting our customers in December.


We will be watching this news closely and keeping you up to date in our Daily Morning Update.


Be sure to catch the next Facebook Live on the Art of Homeownership Facebook page on Tuesday, September 1st at 1 PM ET where Barry Habib and the Art of Homeownership team will discuss how to maximize production and provide value for your buyers and referral partners.

The News X Recap!

First a little News X RealTalk. I have been asked how I choose what I put here. Mostly I add things that are interesting, fun and informative. What I won’t do is feed the beast when it comes to the TMZ nature of some of our industry’s media publications. With over a 30% click through rate on my links, I will not feed traffic to those sources. If THEY want to sell you ads and retarget Facebook ads to get you to click more they are going to have to earn it! 

They have lost their way (not just my opinion) so I have decided to launch my Industry Reboot media initiative. TLX will be one channel of this initiative as will the podcasts of the REAL Disrupt Collaborative. Even better, I will be crowdsourcing content from those that, in my opinion, are the ones who MAKE the news, which is YOU. 

In the immortal words of Jack Nicholson as the Joker, “This town needs an enema!”.

Up, up, up! Sales of new single-family houses in July posted another strong double-digit gain, jumping to their strongest pace since 2006, HUD and the Census Bureau reported earlier this week. 

The Federal Reserve will be instituting a major shift in its posture toward achieving economic stability, maximum employment and manageable inflation according to a Thursday announcement by Chairman Jerome Powell. All told, analysts believe that this change in posture from the central bank will lead to lower interest rates for longer periods of time, which will reduce the costs of traditional forward mortgages and business loans. It will also likely have an impact on the reverse mortgage industry.

New forms are showing up in some borrowers’ paperwork when they close on their home loan. Lenders are asking them to confirm that they don’t plan to skip their payments, at least not right away.

Americans who once drove to work are saving an estimated $758 million a day since the onset of the Covid-19 pandemic, according to a new study by Upwork economist Adam Ozimek. That collectively adds up to an overall economic impact of almost $91 billion, the study by the freelancing platform found.

Millennials, long viewed as perennial home renters who were reluctant or unable to buy, are now emerging as a driving force in the U.S. housing market’s recent recovery.

The Good, Bad And Ugly Of The Pandemic Housing Market, Plus TikTok Under Fire.

MBS RECAP: Nice Recovery Today, But Is It a Trap?

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

Build your pipeline now for the post-boom…………….

In the most recent State of the Nation’s Housing, published by the Joint Center for Housing Studies of Harvard University one item caught my attention. The study found that first time home buyers were younger (obvious to me) and much more diverse than the current homeowner cohort.  First time home buyers are and will continue to be a growing segment of today’s homebuyers. This is also the segment most in need of the knowledge and expertise of the local mortgage professional, armed with technology tools. 


Today’s buyers want innovative technology solutions but also want a high touch experience. Make hay while the sun is shining today with low rates and high volumes of refinances. Be intentional about building a pipeline of tomorrow’s borrowers. Be that trusted resource for them early in their homeownership journey.   While there may be a more significant investment of time into this client, it will pay dividends for you.   Align your business with technology partners that help you differentiate yourself and best serve this segment of the market. This is one way to secure your future.     


Real Talk + a side of mom jeans

Hey, I’m Jess Vogelpohl - nice to “meet” you..INSERT finger guns and a wink.  I’m new around here so I thought my inaugural post would be all about me <—lucky you, reader! #NarcissticPostAlert

Ok, so…

  • I have depression and anxiety and take antidepressants-  yes, I have tried essential oils and meditation….
  • I am from MO and recently moved to VT in June 2020.
  • I have two kiddos, whom I (sometimes simultaneously) adore and want to take a month long trip to Mexico to get away from. 
  • My husband is pretty great and weirdly resembles young Richard Dreyfus from Jaws.
  • I love dogs, hiking, red wine, coffee, pizza, reading, and popping bubble wrap.
  • I will kick your butt in Scrabble.
  • Music is my jam (see what I did there?)
  • I’m an optimistic realist who simultaneously wants to be invited to the party but not go if my mood is weird.
  • I hate the “reactions” option on text messages, especially groups texts.
  • I have an irrational fear of fish and believe not all bottled water tastes the same.


Things you can expect:

  • Real talk - the good, the bad, the ugly of life and being an entrepreneur.
  • A lot revolving mental health.
  • Useful tips to apply to your business and your mindset without all of the fluff.
  • A lot of wit with some underlying sarcasm.


That’s all she wrote. Literally. Because I’m done. 

Podcasts of the Week!

Mission to Build the Perfect Loan Process w/Chasity Graff

Next Level Loan Officer Podcast

Ginger Bell: Always Pass On What You Have Learned

Culture Matters Podcast

Podcasts of the REAL Disrupt Network

Positively Charged

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

The Edumarketer

Ginger Bell - CEO & Founder Edumarketing

Zoom Pro Tips

We are all using virtual meetings more these days.  If you are not doing virtual meetings with your borrowers, you should add it to your communication plan.  I did a webinar this past week on Creating a Communication Plan and was not so surprised to find out from the 400 or so attendees, that over 95% of all applications are completed online. This certainly is understandable given the world we now live in, however; since you are no longer meeting with your borrowers face to face, you still need to build rapport with them and that is why holding at least your first meeting with them on a virtual call is so important. 

Zoom offers a free option that will fit most of your needs.  To answer your question, yes, Zoom is safe, as long as you set up a couple of things like a password or waiting rooms.  Personally, I have been using Zoom for the past four years and conduct all of my webinars on Zoom.  I have never had an issue with Zoom. 

Below are a few Zoom Pro Tips that I hope will help you in your virtual meetings!


You can easily remember your meeting id number when you set it to be your phone number, or a number you can easily remember.  This helps when you are wanting to schedule a quick meeting. You can change the number in your personal meeting ID under your profile settings in your Zoom account. Here’s how you can use your personal meeting with your borrowers:

1. Simply tell your borrower to go to www.zoom.net

2. Have them click on join a meeting.

3. Tell them to enter your phone number as the meeting number. 

4. They are in the meeting and you don’t even have to send them a link or set up an invitation! 



None of us like how we appear on video, but you can “soften” how you look.  Here’s how you can touch up your appearance in Zoom.

1. In the Zoom desktop client, click on your profile picture and then settings. 

2. Click on the video tab and in the video settings dialog.

3. Click on Touch up my appearance. 

4. You can use the slider to adjust the effect.


You can use Zoom to show your desktop screen and help your borrower upload documents or review their appraisal.  You can also use Zoom to show your borrower how to use an app that is on their phone. Let’s say for example you have an app like Finlocker, and you want to show your borrower how to use it. All you have to do is share your screen with screen mirroring.  You can only do this with an iPhone or iPad. Here is how:

1. In your meeting, click on share screen.

2. Choose iPhone/iPad.

3. If you would like to share your phone audio during the meeting, check share computer sound.

4. Click share screen.

5. You may need to download the plug-in the first time, so choose install the plug-in.

6. Follow the on-screen instructions to connect your IOS device.

a. On your phone, swipe up to access the control center.

b. Tap screen mirroring.

c. Choose the zoom-your computer option.

d. Your phone is now shared into the meeting and your borrower can see you give a demo of the app on your phone.


This is one of the coolest features that I love using, especially when I am showing clients how to use the teleprompter apps that we use to record videos with scripts.

These are just a few tips to help you while using Zoom.  Happy Zooming!!!

Always pass on what you have learned!

Leading Ladies of Mortgage

Mortgage X sponsor and co-host this awesome virtual mastermind with some of the best mortgage professionals in the industry. This event is 100% FREE and you will not want to miss hearing these mortgage experts share their wisdom. 

Join us and learn from these Leading Ladies of Mortgage at this FREE event on September 9th 9am - 3pm Central. Register Today!


Blaine Bell - Co-Owner & Founder Sanguine Esports

The History of Esports - Part 1 (Three Part Series)

I decided it was probably best to lay the foundation of the history of esports before I start diving into terms, audience, games, etc.  

Today, esports is projected to become a multi-billion dollar market and commands the attention of half a billion fans worldwide, two-thirds of whom are spectators.  This means that most of those involved in the esports industry are just watching other people play.  Think about watching a professional basketball team or football game.  It’s the same thing with esports.  

The growth of the esports industry over the past few years has created demand for merchandise from fans, with advertising opportunities from brands. Its popularity and impact, even in the traditional sports world, is undeniable. But how did it all start? 

The 80’s

In 1981, Walter Aldo Day Jr. founded Twin Galaxies to promote video games and publish its records through publications like the Guinness Book of World Records. In 1983, Twin Galaxies created the U.S. National Video Game Team. Since the internet wasn’t a thing yet, people learned about competitions through word-of-mouth and trade magazines.

Interest grew and TV became a means of spectating. Starcade (1981-84), a popular TV show, aired arcade game competitions. (Bet you didn’t know that). There was immense entertainment and spectator potential in esports and, as a result, it found its way into mainstream media.

Tune in next week to get Part 2 as we get into the 90’s and 2000’s!

Remember to share your personal referral link below for a chance to win a $50 Amazon Gift Card!  I hope you enjoyed TLX #19! Have a great weekend.