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The David Greene Show
Mortgage Monday | The Government Shutdown and What You Should Know | Episode 87
00:32:29
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- [00:00]
A
What's going on, everyone? Welcome to Real Talk Real Estate. This is Mortgage Monday. I'm joined with Christian Bashelder, the broker owner and my partner in the one brokerage. We're kicking butt, taking names, and we're here to talk to you guys about what the government shutdown might mean for the mortgage industry. Christian, how are you today?
- [00:18]
B
Pretty good. It's funny because probably by the time people listen to this, maybe it'll be back open, depending on how long it takes. But definitely, I think it's important to, to address the elephant in the room of government shut down. Last night, we're recording this October 1st, we got the news that, you know, budget was not agreed upon and we are officially in government shutdown.
- [00:35]
A
Yes, sir, this is a very interesting time to be in finance, whether it's strangling our own economy by increasing interest rates and having a hard time getting people to go back to work. The tariff situation, now a government shutdown in between all of the talks of wars that are going on and bombings and like, just insanity in the world. It's definitely not really ever a slow Newsweek. So. And that's not even mentioning the Charlie Kirk stuff. So let's talk about what a government shutdown can mean for loans. Before we do, let's talk about the one brokerage a little bit. How are things going over there? How many loans we have in submission?
- [01:06]
B
Yeah, we have quite a few. Multiple hundred right now and we eclipsed over 200 currently processing, which is very good numbers for, you know, we're, we're, we're a large size brokerage, but still, in the grand scheme of things, we're not Chase or Wells Fargo or Rocket Mortgage. Right. I mean, they'll do thousands in a month, but very good volume for who we are in the, you know, sector of the economy that we're in. Obviously a little bit of a kick up in refinance applications, even in a lot of new primary purchases, are kicking up with a little bit of the rate, you know, easing that we've had much needed, in my opinion, right. In the industry to get a little bit of relief on these interest rates. And it's causing people to respond, which is great. Right. It kicks up opportunities for savings for people on the refinances of their mortgage. It kicks up new home buyers, which, you know, may ease a little bit of the burden on sellers that were just sitting on properties that don't sell at an eight and a half percent rate. Brett. So I think it's overall a good thing, you know, Rates are a commonly discussed topic, especially these last, you know, two or three months on Mortgage Mondays. And just in general. And yeah, I believe, I believe we're, we're getting some, some healthy cracking so that we, we can get some much needed relief that really honestly been waiting for, for what, two years now for some rate relief, Right? And it's finally starting to come, which is good.
- [02:14]
A
So if you're listening to this and you're sitting at an interest rate of 7% or higher, I need you to go to David green24.com and use the chat option. That or contact us and you'll get a hold of me directly. I will put you in touch with Christian. We will look into how we can save you some money on your loans and if now is a good time for you to be buying. And if you are a mortgage loan officer and you want to be a part of a company that is chasing down Wells Fargo Chase and Rocket Mortgage, we can only do it if we get more people working for us. We have too many loans and not enough people to handle them. So we would love if you would come hang your license with us. Christian and I will be your leaders and give you training ourselves and what you can do to be a more efficient loan officer and serve the people better. So whether you guys need a mortgage or, you know, someone that works in the mortgage industry that needs a better broker to work for, we would like both of them. Christian will give his email at the end of the show. And as you're listening to this, please just pick up your phone, go to davidgreen24.com hit that chat button and just be like, hey, I'm listening to your podcast. This is what I would like help with. We'll get you connected. Now this is pretty interesting because as you mentioned, rates went down. I've seen an uptick in buyer activity. I put two of my own houses, almost three under contract that have been sitting there for six to nine months or so that haven't been under contract at all. Boom. They just went under contract as soon as rates went down. So I can only imagine what it's doing for the market as a whole. Like you said, our loan applications are up and now they're shutting down the government. So we're going to talk about what that might mean for the mortgage industry right now. First off, we've got an article here out of realtor.com says the federal government has halted most operations for the first time in nearly seven years, a move that will have ripple effects through the financial markets that determine mortgage rates. The shutdown began at midnight on Wednesday after Republicans and Democrats in Congress failed to reach a deal on a new spending bill to fund federal ops. At Wall Street's opening bell, the major stock indexes opened slightly lower, all losing less than 1%, while long term bond markets saw a moderate decline in yields, easing recent upward pressure on mortgage rates. During a government shutdown, hundreds of thousands of federal workers are placed on unpaid furloughs, which can slow economic growth. Typically, the effect is temporary, and most of that loss growth is regained. When the shutdown ends at furloughed, workers receive retroactive pay. However, this shutdown comes at a time of heightened economic unsecurity, with recent federal reports sending mixed messages suggesting overall growth appears strong while the labor market seems to weaken. The Fed Reserve's next decision on rates later this month hinges on how those trends play out. But during the shutdown, the government will cease issuing crucial reports on inflation in the economy, including the highly anticipated monthly jobs report that have been due on Friday. This leaves the Fed policymakers and the investors who ultimately determine mortgage rates groping in the dark as they try to assess economic conditions, introducing new uncertainty and volatility into the market. Christian, let's talk a little bit about this. How would you predict that a government shutdown would affect rates? Will they go up? Will they go down, or will they stay the same?
- [05:14]
B
Yeah, good question. So, I mean, this, this article kind of alluded to it, but government shutdowns are typically ideally a very short term thing, right? Usually it's a week or two. We figure it out, they come to an agreement. Somebody, you know, right now the right and left, House Republicans and House Democrats are, you know, they're basically arguing, not really anything mortgage based, but they're basically arguing, you know, the main contest has been over health care and a lot of things in the big beautiful bill. The Democrats are trying to walk back a little bit. Regardless of your stance or where you land on the aisle, we're all impacted by the financial industry, right? Mortgage rates infecting anything from, you know, even auto loans, right? Credit card rates, all of them are kind of in that same bucket together. But in general, historically speaking, a government shutdown is typically, at least in the short term, helpful for mortgage rates. To understand that, we're going to deviate a little bit from what we've discussed previously with like the Fed and the CPI and a lot of things that we've discussed in the previous episodes of Mortgage Mondays and instead just kind of rely on the Basics in any times of uncertainty, right. War, economic events like Covid, government shutdowns, you know, new, the big beautiful bill, right. Any, any time there's something new that's uncertain that causes concern, people will typically retract from their investments and more growth minded things, things like the stock market, things like you know, mutual funds, you know, the things that usually have a higher rate of return, they retract from those and they will typically retreat into more secure investments. Those are typically bonds, mortgage backed securities, things that pay a lower yield but they are more stable.
- [06:54]
A
Okay.
- [06:56]
B
Obviously with a surge of buyers going in to those more stable assets, mortgages being one of them, that will typically drive the cost down. The cost, there's more buyers, the cost up. But mortgage rates are inverted. So that means the yield goes down because there's more people interested in it, so they're willing to accept being paid less. And all in all, basically what that means is that a surge in people interested in buying bonds will have downward pressure on mortgage rates right in the 10 year treasury yield and everything that drives them. So ultimately my one sentence answer right after my, my three paragraph monologue there is that it should be helpful at least in the immediate short term.
- [07:34]
A
Here's what I heard that I think was most important here. Most people that are tracking mortgage rates aren't really aware of what makes them go up or down. They just know if they go up or down. But it's very helpful to understand exactly what you said. In my mind I sort of see this image of money that moves like what water and water tends to go wherever the downhill road leads it. It doesn't think on its own, it just moves in whatever the most downhill direction is. So if you want water to move, you dig a ditch, you dig a trench, or you raise where the water is and you can determine which way it's going to float. Money does that towards like yield wherever it thinks it can get the best yield for the lowest risk is where money's going to go. When people feel really optimistic about the economy and they think it's going in a healthy direction, it's they are going to sacrifice security and safety in exchange for risk and yield. When people feel the opposite and they're scared, they sacrifice risk and reward for safety and security. In an economy where people think oh no, there's a government shutdown, we could be going to war, we're going to be facing a recession, the government has cut back on stimulus and has instituted quantitative tightening. All of these things that you hear like when the Government is trying to put the brakes on the economy, which is usually due to inflationary concerns. But it could be a lot of different things. Money flows to safety. And what you're saying is mortgages are considered on the safer end of the spectrum compared to other investments like stocks or some of the other high yield stuff, correct?
- [09:05]
B
That's correct, yeah. And with, with that shifting towards them, basic rules of macroeconomics, supply and demand. There's now more demand for rates, which means they can get people to buy them, paying out a lower yield. Right. Same concept of anything. You can get a better deal the more people want it. Right. As the seller. Right. Like you're selling houses, you can get more, more money. People willing to pay more money if there's a bigger surge in buyers. Right. That's the always, always shifting buyer, seller demand. And same exact thing happens for mortgages. Even though they're not buying houses, they're buying debt, basically. Right. That debt is capable of paying out a lower return the more people are interested in buying.
- [09:46]
A
Yeah, that's a great point. We tend to look at mortgages like, hey, where are rates? If they're low, I'm more likely to refinance. If they're low, I'm more likely to buy. But we don't think about the fact that the people lending the money are looking half at us and they're looking half of who they're going to sell the loan to. They got to figure out, well, who's going to buy it after we decide we're going to buy it, they got to sell it to somebody else. And I think lenders in general want to be able to give low rates because if people will buy a loan from them at a low rate, they can sell more of them.
- [10:19]
B
Right.
- [10:19]
A
Assuming that all things are equal and they're making the same on a loan. Because we know that they make more when rates are higher, but they also do less of them when rates are going to be higher.
- [10:27]
B
Exactly right.
- [10:28]
A
So if they can get rates, if they can get someone to buy when rates are low, they can sell a higher volume of loans. Their staff can make more money, their employees can be more happy, they can offer incentives to people. Let's say that there was a certain number of people that were going to buy a house of rates were at 8%. Well, if rates go to 6% or 6 and a half percent, more of them theoretically are going to buy a house. Well, if you could throw onto that, if we get rates to drop from eight to seven and a half, there's a sliver of people that might refi. But if we can get rates to drop from eight to six, there's a lot of people that might refi. That is a lot of loans that we can now go sell in addition to the more houses that are being sold. So I tend to look at lenders like they would like rates to be low. They're not the one saying no, we want rates to be high because we're greedy. It's the people buying them that are making that decision and they're making that decision based on what other things they can buy, where they might get a yield. And do you want to share what like the biggest competitor for mortgages tends to be in the market where people are buying them.
- [11:25]
B
Yeah, I mean mortgages get built in. You know, I'll just basically split it up into two. There's, there's growth minded things, namely the stock market, that's the big one. Right. And then there's those safety minded things which are bonds back securities, you know, treasury bills that are more so on the. Here's a fixed return, you know a 30 year mortgage, like it doesn't have a possibility of like really giving you a huge return. Like if somebody has a mortgage at 6%, it's not like oh if the market does really good that year, I may get 9% return. No, you're gonna get 6. But it's guaranteed. I mean it's as close to guaranteed as financial investments come. You know, like outside of like the 2008 crisis. Like the foreclosure rates are pretty low across the board. Right. Obviously there's always some risk with anything, that's why you get some return. But it's not like, you know, Elon Musk can go and make some decision and Tesla stock could tank by 15. Like that also can't happen with a mortgage. Right. So these investors that if they are retracting and they don't want to be subject to the volatility that a government shutdown might bring into the conversation in the stock market. That's why you see that retreat to more guaranteed bonds, treasury bills, T notes, mortgage backed securities. Right. That dictate rates.
- [12:38]
A
There you go, great point. So mortgages tend to track with those 10 year bonds and treasury bills, which is odd to me because there's more risk with the mortgage. But I think the way that they look at it is foreclosures come in big gluts. It's not, I mean you get a percentage of them that are always going to foreclose just from the person who lost their job or managed their money wrong. But I think most mortgages come when you have the. Or foreclosures come when you have the perfect storm. You have a weak job market, you have consumer debt that's high. You have. People's reserves have run out. So the, the economy has been weak for a consistent period of time where they built up their debt and they've used up their reserves, and then they. Then you get. The housing market goes down. If, like, all four of those things happen at the same time, that's when you're likely to see foreclosures because people feel like there's no way out. Only one of those things happens. You don't see a whole lot of foreclosures. If housing prices drop, but the labor market is still strong, that really never happens. But if it did happen, not a lot of people would foreclose.
- [13:34]
B
And just to give you an idea on numbers here, I mean, I literally just googled as you're talking, David, the average. I think it would shock a lot of people because they think, oh, you know, one of the scary things about owning real estate is foreclosures. The foreclosure rate between Fannie Mae and Freddie Mac in the fourth quarter of 2024, they release yearly numbers. So we don't have fourth quarter this year yet. So just taking the most recent 1.57%. So that's half a mortgage.
- [13:57]
A
Half of a percent? Yeah.
- [13:58]
B
Like, it's not. It's not enough to move the needle for investors to say, I don't want to buy this asset. Like, that's a very, very low fail rate. Which is why everything that we're saying is based in the opinion that mortgages and this style of investments are secure. You have less than a half percent default rate. Right? That's. That's really, really, really good.
- [14:19]
A
Yep, there you go. And I can't tell you how many YouTube channels there are out there that put up the fire emoji or not emojis, but, like the fire thumbnail. And it's all coming down. And they get up there, they scream about these Airbnb reckless people ruin the market, and Trump is screwing everything up again. It's always a worst case scenario. Foreclosures are coming in waves and they scream this for 20 years. Then you finally have recession and they go, I told you so. But meanwhile, the 20 years of screaming, no one ever holds them accountable. It can happen. But as you said, the smart money tends to think of mortgages as a safer Bet. Now, I got another article.
- [14:56]
B
When they misdisclose the data and they say, oh, there were 10,000 foreclosures in the fourth quarter, but you don't account that there were like, 10 million loans given. Right. It's like, sure, yeah, 10,000 sounds like a really big number. But, like, when you consider it a ratio of the mortgages out there, it's like, like I said, it's. It's a half a percent. It's like almost nothing. Right. But you can, you can skew all sorts of data with the way that you, you know, you put it out there, of course. But I always find a crack of that because it's like, put it on it. Put it on a chart. Like, put it on a graph. Let me actually see what that looks like. And it's very minimal. Right.
- [15:30]
A
All right, so this article out of where are we here? But the federal government shutdown needs for the mortgage industry. MPA mag.com talks about which agencies will be affected by the mortgage industry the most. So the Consumer Financial Protection Bureau has people that are on pause right now. We're on furlough. That's a fancy word. The Department of Housing and Urban development. This is HUD. So this is where the Section 8 housing program comes from. I believe this is also where, like, the Federal Housing Administration sits underneath, which is fha. Yep, there it is. Part of hud. So that is confirmed. FHA sits underneath hud, Department of Veterans affairs, which I do not believe sits underneath hud. But when you hear people say a VA loan, all that means is a loan that goes through the Department of Veterans affairs, which is odd to me that they have, like, part of the people that work there have to learn loans, and part of them have to learn, like, PTSD counseling, and part of them have to learn, like, prescriptions and medicine they're giving out.
- [16:29]
B
Yeah, but that's like a whole economy just enough.
- [16:32]
A
That's exactly right.
- [16:33]
B
Like a country by themselves, themselves that they run just for veterans.
- [16:37]
A
It does not seem very efficient. It would make more sense to have, like, one government agency that understood financing and then they had, like, requirements for VA loans and that people knew it, and those were the same people that knew the FHA requirements. But, I mean, that's efficiency, and that is not something that the government does well. Although I did hear Trump threatened that if the Democrats don't meet in the middle or whatever he's trying to get him to do. I don't know the details of it, but I heard him say maybe we'll Just start laying everybody off. Maybe we'll just start getting rid of these jobs and there won't be any job to come back to and we won't have to worry about this. You heard that too?
- [17:09]
B
Yeah, I did.
- [17:10]
A
That's.
- [17:11]
B
I think that's a bit of a front, but definitely one way to address the situation is just, you know, hey, turn your furlough into a layoff. Right?
- [17:19]
A
That's it. Yeah, I guess they, I guess he, his lawyers looked into it, that they have the authority to lay people off to get the budget like where it needs to be so, so that they can restore Congress. The Internal Revenue Service, which processes tax transcripts and verifications, which are required for mortgage applications. You want to talk briefly about how the IRS is involved in the mortgage approval process?
- [17:40]
B
Yeah. So, like, if you're getting a, you know, standard traditional conventional mortgage. Right. You have to provide us your tax returns. We don't just believe your PDF though. Right. I think a lot of people may think that, like, oh, you're asking for all this stuff from me. Correct. But we also verify it and the IRS has as a tax transcript service where we get your taxes, your PDF that you sent us, and we confirm that you didn't, you know, get real creative in Adobe and add a couple zeros onto your income. Right. So we match your taxes that you hand us versus what you actually filed to the irs. And believe it or not, guys, I've seen everything. I have had tax transcripts come back that do not match the PDF that I was given. Ooh, it happens.
- [18:25]
A
That's scary.
- [18:27]
B
I mean, we do the same thing with bank statements, right? If you send us a bank statement, typically lender has a built in. It's called a verification of deposit, where they'll call your bank and confirm, hey, on September 29th, can you confirm the borrower had 50k in their bank account? I've had those. Not matched. Believe it or not, people still think they can get away with the. So you guys understand that's mainly what happened in 2008. People were literally photoshopping bank statements and there was not a verification service. And put. That's why people called them like Ninja Loans. No job, no income. That's because you could put whatever you wanted on your mortgage application and nobody would verify it. Right. That does not happen anymore. And the people who do it, they, they get caught and they get, they get in trouble. So if you're thinking about doing that and it's as easy as, you know, PDF editing a couple zeros on your Income. I can promise you it will not work. There are systems in place to protect against it. The IRS tax credential portal is one of them.
- [19:24]
A
So that's scary stuff. Don't Photoshop your bank statement and give it to us and just don't tell us about it. Well, actually, we appreciate the fact you didn't tell us that you lied because we don't want to be involved in that. But don't do that either because someone's going to go check and see if you actually made the deposits that you said you did. And you don't want that knock from an Alphabet agency. So those are all agencies that are going to have furloughs, which could slow down our job as the people who are trying to approve your loan. Now, for the Consumer Financial Protection Bureau, this article says that, like, there could be some operations that are affected or shut down, although that is probably minimally going to be affecting mortgages, but other things will be. So FHA and VH loans, the processing and the underwriting of new FHA and VA loans may be slowed down if there is a reduction in available staff or if certain operations are suspended. That could lead to delays in approvals and closings. Christian just mentioned the IRS tax transcript. So as we are verifying that the taxes that we receive from people applying for loans, whether that's a refinance or that's a purchase, can be slowed down, it says that's the 4506T form. I'm assuming, Christian, that that is a number that you hear quite often.
- [20:37]
B
Yeah, that's. That's just the form that we send the IRS to verify that what you gave us is true.
- [20:43]
A
Yeah. It also sounds like the bad guy in the new Terminator 3 movie that's going to be coming out the T4506. If the Bureau of Labor and Statistics is unable to release scheduled economic reports. This is inflation or jobs data. Market volatility could increase and lenders may have less information to guide rate decisions. One such BLS announcement is due this week, but now is unlikely to arrive as scheduled. And then rural housing loans. The USDA's Rural Development Loan program may see significant delays as agency typically sees as processing new loans during a shutdown. Christian, how often are we doing these USDA loans?
- [21:20]
B
Not very often. It's a niche product. It's good for people who want to buy primary, you know, out in the boonies a little bit. Right. Is a cool loan product. 0% down. We definitely do them when they come through. We are fully Approved to do USDA loans. Just typically our clientele, there's a couple lenders that. That's all they do. Right. Like they specifically set up like a local branch location out in like rural Kansas or something. Right. But there are specifically designated rural tracks of land. If you're in a main city, it's probably nowhere near you. So for the vast majority of borrowers, it's not even an option. And you also have to live there. So a lot of people, you know, they don't want to live in, you know, a rural area. Right. A lot of people want to invest there. But the USDA loan does not have an investment property loan. It's only primaries. So here and there, David has the answer. Definitely not one of our, like core products though.
- [22:09]
A
Okay, I have a question unrelated to the government shutdown, but this is something that I hear a lot. There are people that are under the impression that if they want a VA loan, they need to go to a VA lender, they want an FHA loan, they need to go to an FHA lender, they want a DSCR loan, they need to go to the specialist. And they'll ask people, who do you know that does USDA loans, who do you know that does VA loans, et cetera? What advice do you have for how people should think about this? Are they thinking correctly that they need to ask around and find a lender that does those loans loans, or should any loan officer worth their salt be able to do the different types of loans? And if that's not the case, is it a good sign if the loan officer can do more than one loan or a bad.
- [22:53]
B
Yeah, it's super good question. We actually are in that, in that spectrum as well where people think we only do investment loans. I've had so many borrowers who come back to us that say, I'm looking to buy a rental and I just bought a primary. I'm like, why didn't we help you there? You guys do primary residence. You know, it happens all the time. So if you guys are watching this, first and foremost, One Brokerage does everything. If it has to do with mortgages, we do it HELOCs, commercial DSCR, bridge, hard money.
- [23:19]
A
The one brokerage that does it all, it's in the name.
- [23:21]
B
Yeah, literally guys, that's why we called it the One Brokerage. So kind of your one stop shop, so to speak. Right. But to answer your question, clearly there are lenders that have hyper niche specialties. Things like you hear like first responder, doctor specialist type loans that you may get a benefit from going in direct lender. But in general, there is not a lender that does only FHA loans that does them better than us. Like, you can make the jack of all trades argument. We're a jack of all trades and we know how to do them well because we have spent the time, the effort and the energy to learn them. We, we do that. We do FHA all the time. We do VA all the time. And usually guys, we can beat the retail guys. So, like, I have a lot of quotes that come back from Navy Fed. Navy Federal is probably, I haven't looked at numbers, but probably one of the top three VA lenders in the country. They've kind of established that brand. They're the VA lender. I beat their quotes every single day. Every day. And we do it quicker and more efficient than them as well. It's just part of what having, you know, a small business broker owned, loved and nurtured company versus a big corporate enterprise. We can just operate at different margins. We can pass along that savings to the borrower. And ultimately the ideal is to give you better service as well. Right.
- [24:33]
A
Well, next week we're going to break down how the one brokerage is literally structured that makes us so efficient. Like how we have the jobs delegated and the assembly line put together to be really fast. But I love your point there that it's really a marketing tactic. When a company says we do VA loans, they just know veterans hear VA and go, oh, I'm going there. And that's like, because they're not that good, they need a gimmick. And so they advertise themselves as the VA loan or the FHA person. But you're saying if you have a loan officer that holds themselves to a high standard, that loves their job, that's passionate about what they're doing, it's. I don't know, maybe this is a bad example, but if, like, you're in the military, you shouldn't be like, oh, we only shoot AR15s. We don't know how to shoot a handgun. Well, you might need one at some point, right? You should probably be practicing with both. And if you want to be a good soldier, you're gonna be able to use more than one weapon. If you want to be a good loan officer, you need to use the different loan projects at your disposal to solve the different problems that your clients bring you.
- [25:29]
B
It also gives you flexibility, you know, because like, if a borrower comes in and says, I want. We've had this so many times, Borrowers come in and they say, I'm pre proofer of FHA loan, I'm rate shopping. And because we also do conventional, I give them a quote and I say, hey, if I can get you a much better deal, a better rate, a better monthly payment on a conventional loan, like would you be open to it? And they're like, oh, I, I was just told FHA is the best first time home buyer loan. And I'm like, well, that's BS first and foremost. Like, that's not true at all. It's a good first time home buyer loan, but it's not the best, right? Like, here's your other options and I'll put two options in front of each other. Well, if they were working with a lender that was laser focused on fh, you wouldn't have had that conversation. Right? And even getting into like the scaling and operations, like if you want to buy your primary and have your FHA lender and then eventually convert to conventional and have your conventional lender and then, oh, I want to buy a rental, so I need a DSCR loan. I need to go over here. Oh, and then I want to fix and flip a property, so I need a hard money lender. Why are you doing all that? You know, like, if the rates are very competitive and the service is similar, why not just have your core group? It's like, do you want a different property manager for every property? Like, probably not. Ideally, you want to get one guy who can manage your portfolio. He's familiar with your bank accounts, he knows your utilities. Like, if there's a problem with the property, you're hearing from the same dude every time. Like that sounds better to me. But you know, ultimately people make their decision and they do fall victim to the marketing tactics. But yeah, I feel very confident with our ability to. If it has to do with a mortgage, we know it well.
- [27:05]
A
Yeah, I don't think I understood when I was new at this, like when I was first getting my real estate license and selling houses with Keller Williams, I didn't know any of that. I didn't understand. It was all marketing. I didn't know when they said first time home buyer programs that that was a marketing tactic to get you to go to them. But they didn't do anything different than anyone else. They just talked about it better.
- [27:24]
B
Right?
- [27:25]
A
Where if they were like, we have loans specific for bilingual people. You're like, that just means we have a loan officer that can speak Spanish. There wasn't some super secret squirrel stuff that they had that other People, it's.
- [27:35]
B
Like Honda saying, we sell four tires. It's like, we have cars with four tires. Like, I bet you do, but. But so do Toyotas, right? Like that. It's the same concept, but they're just making the active effort to market and say, you know, buy three, get your fourth tire free. Well, like, every car comes.
- [27:53]
A
Or our car comes with a spare tire, in case you need. Exactly right. They're not telling you that every other car does, too. They just did a better job. And if you happen to be a person who just had a flat tire, like, I'm sick of this, I'm going to that place. No one told you that 10 years ago they didn't put spare tires in cars, but now they all do. That's why we're here to share this information today. So, like I said, next week we're going to be doing a breakdown of why our loans get done faster and quicker. You did make me think of an analogy, though, when you mention the person who comes to us and says, I just did a primary now. I need an investment loan. Folks, if you are listening to this, I'm going to be straightforward to you. This is how this feels. This feels like when you really like a girl, but you're not sure if she likes you back, so you're trying to be really respectful and you don't want to, like, push her away by saying you have feelings for her. Ladies, I don't know if this is the thing you guys go through, but, Christian, I'm sure you can agree as a man, this is a really hard problem for us is like, we like you, but we don't want to ruin the friendship, so we don't say anything. We just wait to see, like, is there a sign you like me, too? And we're not saying everything that we can do, and you probably have no idea on the other side. And you like, hey, can you give me a ride to. To get my oil changed in my car or something? Or can you help me pick up my car? It's in the shop. And we're like, yeah, of course I can do that. And they're like, thanks, my boyfriend crashed it last weekend and I'm single now. And we're like, what?
- [29:13]
B
What?
- [29:13]
A
You have a boyfriend? Like, yeah. Why? You're like, because I've liked you this whole time. And she's like, we didn't say anything about that. I didn't know that you liked me. I just thought you wanted to be here to hear me complain about what I was unhappy about in life, you're like, no, I was willing to do that, but what I wanted was to be your boyfriend. We want to do your primary residence loans, because to be straightforward, they are a million times easier and more fun for us. It's. We get to be a part of changing your life, being involved in where you're going to live, making sure you get keys. The loans themselves are easier and less stressful, so we can spend more time getting to know you personally. Most of the investment loans are tougher, not as profitable, and a lot more stressful. There's more moving pieces, and that's why we're very good, because we do that more of the time. But please, when you want to buy a house, please come to us. We want to be a part of it. We want to give you a present. We want to get to know you. We want to build a relationship with you. We want to be there to refinance that thing. We want you in our database so we can tell you when it's a good time to refinance it. We want to be your boyfriend. That's what we're trying to say. Especially Christian. I would like to, like, help you guys get married. Maybe I could be the priest in the wedding. But, yes, we want to be your boyfriend. We don't want to be in the investment zone, which is where we can often get put. And this is me coming forward with my feelings and putting them on the table and saying, you, listener, I like you. I've always liked you. I have special feelings for you, and I would like a special relationship with you. I don't want to just be your podcast. I want to be your mortgage broker, and I want to be the best dang mortgage broker you've ever had. How'd I do, Christian?
- [30:41]
B
I love it. I was about to say I do right there.
- [30:44]
A
Sometimes you just got to share your feelings. You can't worry about rejection. You got to put it out there.
- [30:49]
B
Till. Till sale. Do us part, they'll sail.
- [30:52]
A
Do us part or refinance. Either way, right? We'll just renew our vows. That's what a refinance is.
- [30:56]
B
That's a refinance renewal of our terms.
- [30:59]
A
And it's going to be even better for you. You get a bigger ring, you get a sweeter boyfriend. We're going to be better. A sweeter husband. In the future, you get even more. All right, Christian, if people want to reach out, they want to get a hold of you, they want to talk about if they should refinance their house or if they should buy a property, where can they go?
- [31:14]
B
Yep. 1brokerage.com, the 1brokerage.com, I'm sorry, this is our company website. You can find out more about what we do. You can see all these loan products on our loan products page that we talked about today. Fun. Actually, we're rebuilding our website right now to be more user friendly, easier to get in touch. David's got a fun project going on that, so you'll see that go live here shortly. If you want to catch me directly, Instagram's the best place. I'm at the one broker with underscores between the names or the underscore. One underscore broker. Send me a dm Anytime I respond to them as quickly as I can. We'll get on a call, we'll talk about your scenario.
- [31:43]
A
There you go. You can find me on Instagram avidgreen24. There's an e at the end and look for the check mark. Christian's got it as well because there's scammers out there pretending to be us. And also make sure you go follow me on Facebook because we're going to be running one brokerage ads to people and I want to make sure that you guys see it if we're friends. So if you've been listening to this and you're like, I had no idea that David felt that way about me. I thought he was too busy for me. I didn't know he wanted to be my boyfriend. I do. Go to davidgreen24.com Send me a message. Let me know you'd also like to be my boyfriend or girlfriend. And we will get into a formal, serious relationship with you and see what we can do to bring value into your lives, your businesses and your portfolios. Thank you guys all for listening. Christian, thank you for being here. We will see you guys next week on Mortgage Monday.