The Deal Desk (blog)

August 6, 2024: Chris Voss is a former FBI hostage negotiator and author of the book “Never Split the Difference” He is known for his expertise in negotiation techniques. A mortgage loan officer can learn much from the several effective negotiation techniques from this book. For starters, Voss emphasizes the importance of active listening in…

August 3, 2024: Zen Buddhism emphasizes the importance of the “beginner’s mind.” This concept encourages an approach to life with an open mind, free from preconceptions and assumptions. With a beginner’s mind, we experience the world with fresh eyes and a sense of curiosity, allowing for new insights and personal growth. The Zen master Shunryu…

August 1, 2024: Mark Twain famously said, “I’ve had a lot of worries in my life, most of which never happened.” This quote succinctly captures the idea that much of our worry is unfounded and unnecessary, as the things we fear often do not come to pass. The majority of worries, over 70 percent, never…

July 27, 2024: In the world of Artificial Intelligence (AI), the “frame problem” presents a significant challenge, as it pertains to determining all the relevant aspects of a scenario that must be considered in making a decision. This challenge involves recognizing and understanding all the essential details and their interactions within the given “frame” that…

July 23, 2024: Lessons from “The 4-Hour Workweek” by Tim Ferriss Productivity not Busyness: Ferriss emphasizes the importance of focusing on tasks that are high-impact and productive, rather than simply staying busy. Prioritize tasks that directly contribute to closing deals and generating revenue.  Outsourcing and Delegation: Ferriss advocates outsourcing tasks that can be done more efficiently…

July 13, 2024: The recently published 2023 HMDA report on mortgage transactions by lenders, which includes banks, savings associations, credit unions, and mortgage companies, had some interesting and revealing details: There were 4,460 lenders reporting in 2022, and 5,113 lenders reporting in 2023. (The data, however, does not specify the exact number of new mortgage…

June 6,2024: Building a new home is not as simple as buying the lot in a desirable location with a pretty view. Working with an experienced real estate agent who specializes in new home construction can make your new home dreams become a reality.  The real estate agent can help you combine the lot purchase…

May 28, 2024: There are at least three things all Mortgage Loan Officers know and can agree on. The mortgage business is a documentation business. The Docs ultimately do all the talking. And there are a lot of docs to deal with (even when everything is digitized). This is a highly regulated business. There is…

May 14, 2024: Home ownership is at 66 percent nationwide. And a huge percentage of those homeowners have fixed rate mortgages significantly below prevailing market rates. These people are effectively “locked-in” which limits their ability to make appropriate financial decisions to either upsize or down size their homes as their life circumstances change. There are…

May 8, 2024: Here are some of ways the changes in the value of the US dollar impacts mortgage interest rates:  When the US dollar is strong, it can make US investments, including mortgage-backed securities, more attractive to foreign investors. This increased demand for US investments can lead to lower mortgage interest rates as lenders…