Larry Bailey

So while I am planning out my strategies for making Assembly Title LLC stand out in the "Brotherhood" of the Title Industry, I am faced with the same questions that I always train my Sales-People on. What makes you different? What are you possibly going to say that is going to make you different than the next Sales-Person?

Is it your charm, your good looks, your "Connections", your leads, your systems???? Or is it supposed to be about something else?

Since 1987, I have been professionally involved in the Banking/Insurance/Finance/Technology/Sales fields. This calculates up to a whopping 8030 days (approximately.) Now as I calculated that up, I started thinking, in 8030 days, what is it that I say that makes me different when someone says, "What do you do for a living?" or "Title Insurance eh? WOW, you guys must be getting killed. How are your doing with that?" The answer has always been clear to me, no matter what my job or position. The answer is:

I am different, because my answer changes depending on who I am speaking to."

How many times do you answer the same question, the same way to different people? What makes you think that there is a "One Answer Fits All" answer? Stop and take the time to do what every successful person does. This would be called LISTENING.

The person asking the question has the power in the conversation. (If you disagree, please stop reading, because you will not understand the rest of this post.) It is the answers that direct the conversation. It is the answers that give the Questioner the ability to find out if there is even an audience. Let me give you an example:

Sales Person "A"

My company, Assembly Title LLC in Hainesport New Jersey, provides title insurance services to anyone in need for all 50 states. BIG WHOOP. So can so many other companies. But wait, I can give your client the BEST customer experience, and close anywhere ~ anytime. And give free coffee and donuts and gift baskets and pens.....(hopefully you get where I am going.)

Sales Person "B"

Now what if I told you that in my hands, I hold a Basket of Goods and Services that can accomplish anything that you need to help your business? What if all I needed to hear was what it is you need for your business? Once I LISTEN to what you need, I can help. What if I GUARANTEED that I could help, just tell me what you need and lets talk.

Which Sales Person would you honestly want to spend time with? A person who drones on about how great they are, or with a person who listens to your concerns and needs. Naturally you are saying, Sales-Person "B", because they LISTENED. The kicker here is that if Sales-Person "B" can not personally come through and deliver insightful, meaningful, and direct information, then there really is no way for a Sales-Person to have that kind of a conversation, or become Sales-Person "B". So how many times does Sales-Person "A" call you and ask you for business, or WORSE, how much business are you giving to Sales-Person "A", because you do not have an alternative?

The GREAT news is that Sales-Person "B" is me, Larry Bailey. The experience in the industries that I have, has given me the best ability to know what questions to ask you, and HAVE the answers to help. Whether you need help with finding better lead sources (Internet and Traditional), better lead management solutions (Technical and Non-Technical), better Originators and Mortgage Companies (I deal with many and know who is closing deals and who is not), or just need to have someone to bounce ideas off of, to make sure that your ideas make sense.

I can help you with your business, whether you are a "one-person" branch, or you have a group of 20 and are finding it impossible to manage things because you don't have someone like me in your staff. It all starts with a conversation. I know that you need someone to help with something, let me know what it is.

You can find out more about me by calling me or viewing any of the sites that I post to. My "resume" of experience and testimonials is on Linkedin. If you don't know what that is or where to find it, here is the link http://www.linkedin.com/in/larrybailey

I look forward to us speaking and more importantly to me LISTENING to what you need help with.

Very Truly,

Larry Bailey

Assembly Title, LLC

1441 Route 38 West, Hainesport, NJ 08036

609-760-7222 Mobile

LBailey@AssemblyTitle.com

Fri, Feb 13 - 4:24 PM ET
Market Wrap: Our benchmark 4.5% FNMA bond struggled with a lower volume holiday trading day and lost 28bp to close at $100.62. Traders didn't have much to focus on other than to watch the progress of the 'Financial Stability Plan' in Congress. The $787 billion bill passed the House by a partisan vote of 246 to 183 just after the bond market closed. No Republicans voted for the massive spending measure and the Senate is expected to vote on the bill this evening. The day's only economic report saw consumer confidence eroding in February with a reading of 56.2 vs. a consensus of 61.5. The expectations index, which predicts the direction of consumer spending six months from now, fell to 49.1 from 57.8 in January, the lowest it has been since 1980. However, the current conditions index, which measures consumer perceptions of their financial situation and whether it is a good time to buy big ticket items like cars, edged higher to 67.1 from 66.5. J.P. Morgan said they would temporarily suspend foreclosures for at least three weeks while Citigroup said it would suspend foreclosures until a Treasury plan is finalized to restructure troubled mortgages. The stock market also had a lackluster day with the Dow losing 82 points to close at 7,850. The broader S&P 500 Index lost 8 points to end at 826 while the NASDAQ Composite Index fell 7 points to close at 1,534.

1:39 PM ET - Oil gushes higher to $38/barrel up $4. MBS trolling near lows of the day. Stocks also trading lower after a profit warning from Lloyds of London hits the financials.

12:00 PM ET - JPMorgan halts new mortgage foreclosures. Will not out new mortgages into foreclosure for 3 weeks. Believes 3 weeks adequate for Treasury to announce a new mortgage modification plan. MBS trade back to flat and will close at 2:00pm ET. Stocks lower and will close normal time today at 4:00pm ET.

10:11 AM ET - Consumer Sentiment slightly lower at 56.2 vs estimates of 60.2. MBS trading near session lows. Stocks near unchanged.

8:40 AM ET - Year-to-date the Fed purchases nearly $115B in MBS as reported yesterday. MBS flat, while Stock Futures slightly lower. Oil at $34.72/barrel up 75 cents.

Fri, Feb 13 - 4:24 PM ET
Market Wrap: Our benchmark 4.5% FNMA bond struggled with a lower volume holiday trading day and lost 28bp to close at $100.62. Traders didn't have much to focus on other than to watch the progress of the 'Financial Stability Plan' in Congress. The $787 billion bill passed the House by a partisan vote of 246 to 183 just after the bond market closed. No Republicans voted for the massive spending measure and the Senate is expected to vote on the bill this evening. The day's only economic report saw consumer confidence eroding in February with a reading of 56.2 vs. a consensus of 61.5. The expectations index, which predicts the direction of consumer spending six months from now, fell to 49.1 from 57.8 in January, the lowest it has been since 1980. However, the current conditions index, which measures consumer perceptions of their financial situation and whether it is a good time to buy big ticket items like cars, edged higher to 67.1 from 66.5. J.P. Morgan said they would temporarily suspend foreclosures for at least three weeks while Citigroup said it would suspend foreclosures until a Treasury plan is finalized to restructure troubled mortgages. The stock market also had a lackluster day with the Dow losing 82 points to close at 7,850. The broader S&P 500 Index lost 8 points to end at 826 while the NASDAQ Composite Index fell 7 points to close at 1,534.

1:39 PM ET - Oil gushes higher to $38/barrel up $4. MBS trolling near lows of the day. Stocks also trading lower after a profit warning from Lloyds of London hits the financials.

12:00 PM ET - JPMorgan halts new mortgage foreclosures. Will not out new mortgages into foreclosure for 3 weeks. Believes 3 weeks adequate for Treasury to announce a new mortgage modification plan. MBS trade back to flat and will close at 2:00pm ET. Stocks lower and will close normal time today at 4:00pm ET.

10:11 AM ET - Consumer Sentiment slightly lower at 56.2 vs estimates of 60.2. MBS trading near session lows. Stocks near unchanged.

8:40 AM ET - Year-to-date the Fed purchases nearly $115B in MBS as reported yesterday. MBS flat, while Stock Futures slightly lower. Oil at $34.72/barrel up 75 cents.

Fri, Feb 13 - 12:00 PM ET
JPMorgan halts new mortgage foreclosures. Will not out new mortgages into foreclosure for 3 weeks. Believes 3 weeks adequate for Treasury to announce a new mortgage modification plan. MBS trade back to flat and will close at 2:00pm ET. Stocks lower and will close normal time today at 4:00pm ET.

Current Trend Direction: Sideways

Risks favor: Bias Towards Locking

Current Price of FNMA 4.5% Bond: $100.75, -16bp

Bond prices are trading lower so far today on this shortened holiday session that will see the Bond markets close at 2:00pm ET. On Monday, President's Day, both the Stock and Bond markets will be closed. Market action could be choppy today, as Wall Street starts to clear out early for the three day weekend. Our next Daily Update will be on Tuesday February 17.

Stock markets were plunging yesterday, but rallied at the close to near unchanged after Reuters reported that the Obama administration is trying to hammer out a new program to subsidize mortgages to fight the credit crisis. The plan would seek to help homeowners before they fall into arrears on their loans. Current programs only assist borrowers that are already delinquent. There are no details yet on this plan.

The current $789B stimulus bill is expected to be passed today by Congress and be on President Obama's desk to sign into law this weekend. Stocks remain under pressure as many investors feel the plan will take some time before it has an impact on the economy.

Here are some of the details regarding the tax credit that have been released so far - The tax credit has been scaled down to $8,000 from $15,000, or 10% of the value of the home for any first time homebuyers who purchase homes from the start of the year until the end of November. It starts phasing out for couples with incomes above $150,000 and single filers with incomes above $75,000. Buyers will have to repay the credit if they sell their homes within three years. More details are to come, and we will be sharing with you the impact of the stimulus plan once we go through the final version that is signed into law.

Yesterday, the NY Fed reported they purchased $23.2B in Mortgage Backed Securities from February 5 through February 11, bringing the year-to-date total to almost $115B.

Consumer Sentiment (unsurprisingly) came in a bit gloomier than had been expected, showing a reading of 56.2 where 60.2 had been anticipated.

Mortgage Bonds are again facing a dual layer of resistance, which will make any meaningful gains difficult. And Stocks are due for a relief rally from very oversold levels, which is also adding pressure to Bonds. Because of these factors, a bias towards Locking continues to appear to be the smart strategy.