The Fed cut rates this week.

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Not a surprise. 

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But mortgage rates went up this week. 

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Not a joke. 

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But still a massive opportunity exists…

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If you’re paying attention.

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And here’s what I know from experience:

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The LOs who move fast right now will win Q4.

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The ones who wait to “see what happens”?

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They’ll be watching someone else gain footing on their dataBANK.

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Now, what does the Fed move really mean?

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It means your marketing team, the main steam media, will help bring mortgages top of mind. 

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But will YOU be top of mind?

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Your closed database are now prime targets for refinance campaigns.

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(Especially from servicing lenders with built-in rate monitoring)

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Now here’s the dangerous lie floating around LO circles right now:

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“There’s no reason for me to call because a refinance doesn’t make sense yet”

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Pay attention to this: 

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Traditional Loan Officers only show up when there is a transaction to be had. 

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Modern Loan Advisors also show up when there’s NOT a transaction to be had.

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It’s your responsibility to control the narrative and to protect your borrowers from being sold into a refinance that doesn’t make sense.

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And you have every reason to proactively prospect your database. 

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So here’s my free advice on what to do this week:‍

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✅ 1. Activate Your Closed Database

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Prepare a list of all the borrowers you closed a home loan for in the past 36 months. 

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If possible, categorize them with the highest rate down and have LTVs included (this will help you customize your scripting around HELOCs and Cash-Out Refinances). 

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✅ 2. Warn Your Clients About What’s Coming

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Let them know the solicitations are coming -- and most of them won’t have their best interest in mind.

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Leave a voicemail like this:

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“Hey [Name] — it’s [First Name only, your Mortgage guy/gal]!

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I am sure you heard, but the Fed cut rates this week, BUT, mortgage rates when up. Go figure. So if you receive any type of solicitation about refinancing because the Fed cut rates, it’s a lie. I am monitoring rates for you every day and will be calling you over the next few days to pinpoint the a good strike rate for you that we should be targeting for a potential refinance.

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And please do NOT make any decisions about refinancing without pinging me first as I will make sure it actually makes sense for you without any sales pitch.”  ‍

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If they do pick up, alter the above script a bit. 

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✅ 3. Talk to Your “Money” Partners

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Now is the perfect time to re-engage your Realtor, Financial Advisor, and Accountant network.

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“The Fed just cut rates, but mortgage rates actually went up. We’ll be top of mind for our database, let’s proactively call one another’s database to control the narrative.” 

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Get in the conversation before someone else takes your seat at the table.

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The bottom line…

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You can’t control what the Fed does.

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But you can 100% control how you show up when they move.

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This is your moment.

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Reconnect.

Reposition.

Rebuild momentum before the holiday fog sets in.

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The Fed made their move.

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Now it’s your turn.

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And next week, I will share with you how to make POWER gratitude calls to your entire network.

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LesssssGO!!

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- Amir