Phil Grossfield's Blog

A LITTLE EXTRA…

Culture Shift Comes With Success

ethos logo verticalCulture Shift Comes With Success.  Ethos is having great success. We’ve hit record numbers which allowed us to increase our staff. We have more underwriters, doc drawers, etc. This has allowed us to reduce the number of loans underwritten per Underwriter each day, and open them up to better communication with LOs and Processors.  In fact, because of our success, Underwriters are now making outbound phone calls to Processors after they have uploaded all but 2 to satisfy conditions. Underwriters are also calling out after the second round of uploads has been completed. This has proven to get more loans CTC faster.  Last, Underwriters will call you upon request via ASK-E, our IM system for direct access to the Underwriters.

In addition, I now have a new more experienced underwriting team all located in the same office with your Broker Advocate. And, our Underwriting Lead is one of the best ever. This is proving to make things much more efficient.  With all the success Ethos has had, and all of the success I have personally had, these changes are exciting to get us to the next level. A level of service that exceeds the industry standard while maintaining our hyper-aggressive pricing strategy. Let’s go!

Winning Combination

Dad, What Is Memorial Day?

memorial dayDad, What Is Memorial Day? It’s important to me my kids understand what it is. But war is a concept my 11-year old and 8-year old just don’t quite get, yet, unless it’s within the context of Minecraft. So, I did my best. And then the questions came pouring in.

Dad, why is there war? Why do people want to kill each other? Why would anyone want to be a soldier if they’re going to die? Will Uncle Mike (NAVY) have to go to war again? Will I have to go to war? Why did those people crash into those buildings in New York…is that why we have Memorial Day? Why would someone kill himself to kill others…that doesn’t make any sense?

Part of me is glad they don’t understand it. But the other part realizes they must. So, because of the questions I showed them footage of 911…the planes crashing…people jumping, etc.  I explained that there are people in this world that want to destroy what we have. I explained there are people in this world that want to destroy anyone who isn’t just like them. I even explained there are people in this world that want to kill our family because we are Jewish. I explained there are people in this world that fear what they do not understand, and rather than learn about each other, their fear consumes them and baseless hatred results.

The purpose of Memorial Day is to pay tribute to those Americans that paid the ultimate price to protect us from these hateful people. And it is also a day to thank those currently serving, like Uncle Mike, for continuing to protect us. It was a heavy talk but I think they have a better understanding. And the questions kept pouring in all day and into the evening… 

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Dead Cat Gratitude

lucyDead Cat Gratitude.  Yeah, she’s dead…put her down Thursday afternoon.  Hey, Lucy was 16 years old…I knew her longer than I’ve known my kids, and not once did she get mad at me for not buying her crap.  Of course, my kids never crapped on the floor, at least not yet.  Anyway, it’s been a sad house these last few days and your messages have made it an easier transition. I truly appreciate all your warm messages, thank you.

 

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Consistent Price Leader Every Day
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Direct Access To Your Underwriter
Average Funding Less Than 30 Days
Repeat Business At An All Time High!

Lock Them In!
Focused On Repeat Business.
We’re FAST, RELIABLE
and a consistent PRICE LEADER.
Get Approved!
In 10-Minutes I Can Have Your Package Submitted.  Super Easy and Fast Process.
Email Me For More Info. 

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So Grateful! AND PRICING IS EVEN STRONGER!

gratefulSo Grateful!  Wow, we must be doing something right, because Friday and yesterday were MONSTER lock/submission days and I’ve already seen a bunch come in this morning.  What’s awesome about this is the repeat business.  Yes, our pricing is ridiculously strong, but our improved service levels and speed are bringing you back.  Thank goodness we beefed up our operation staff to handle the influx.
 
Not only did I take a ton of locks and submissions personally but the rest of our AEs each took a ton as well.  I haven’t had lock/submission days like this in a long time!  Ethos is on fire…  So grateful! 
01.RATE PUBLISH
 
MY MARKET UPDATE:  The Fannie Mae 30-year bond is +38bps since yesterday’s close. Generally a lender’s rates/pricing improves when the bond is being bought.  Pricing improved by 40-50bps on Friday and today we’re up another 30-40 bps!  Bonds are reacting to the stock market which is not doing so great.  Today it’s oil prices driving traders to dump stocks and invest in safer bonds instead.
Check it out:  U.S. Stocks Sink With Markets Around the World
bloom
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Special Moments — EXTREMELY AGGRESSIVE PRICING!

special momentsSpecial Moments.  Weeks ago I went to Minneapolis for my brother’s wedding. The night before the wedding my brother had out-of-town guests to his new home and it turned out to be over 100 people. Therefore, getting any quality time with my brother was understandably dismissed.  But as my daughter recently reminded me, there was enough time for one special moment in the evening that defined the entire weekend of events for me and my daughter.

To set it up, my brother built a sound proof smoking room within his master bedroom where he keeps his guitars and media system.  Besides having a special sound system and air-suction units that pull any cigar smoke or other odors out of the room, this little space is entirely insulated…you can’t hear anything outside the room and nobody can hear you.

Since my daughter is learning to play the guitar, my brother sneaked away from the chaos of the party and pulled us into the room for about 7-minutes. We went into the room, locked the door, closed the shades, and my brother sang a song while playing his guitar for my daughter.  I wish I could’ve captured the look in her eyes…memorized by the moment and dreaming of her own talent some day.  There were many wonderful moments that weekend, but that one…………


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Attitude Is Everything – Pick A Good One

Netflix Secret Codes

Netflix Secret Codes.  Just like In-n-Out Burger’s secret menu, Netflix also has a secret search index.  If you know the secret code, you can search for many more movies than Netflix initially let’s you see.  Netflix only show you movies it thinks you want to see based on previous searches and selections.  But if you use this list, you can find so much more.  Check it out…go to the Secret Netflix Code page and click any search code.
The Dreaded Broker Package.  You hate doing them…every wholesale broker does.  So why not let me do it for you?
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David Bowie – Ziggy Stardust – Bond Entrepreneur

bowieGround Control To Major Tom – – – – – – Commencing Countdown Engines On……  Some of you are too young to really know David Bowie but I’ve been around a while.  He was an awesome artist and brave as hell.  Did you know Bowie was the first recording artist to go to Wall Street to tap the future earnings of his music?  He ended up selling $55 million of bonds in 1997 that were tied to future royalties from hits including “Ziggy Stardust,” “Space Oddity” and “Changes.”

I’ve been listening to his songs again yesterday and this morning.  Back in November, 2013 I posted Canadian astronaut Chris Hadfield’s version of Space Oddity. The video has been viewed nearly 30,000,000 times.  Check it out…click the graphic above.  RIP Ziggy Stardust.

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Why I Chose Ethos Lending

Aggressive, Fast & Reliable

Aggressive – Fast – Reliable.  I haven’t been this confident with a lender in a while.  Our service levels have improved dramatically since I’ve been here and it wasn’t too shabby back then.  Our pricing is razor-sharp and our turns are wicked fast. And my ability to work within the organization to accomplish your goals is stronger than ever.  I’m in a great spot which means so are you.
Call me and in 5 minutes I’ll have all I need to complete the Broker Application for you.  Let’s go!  ~Phil
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Why I Chose Ethos Lending

It’s A Stress-Free Job In The Mortgage Industry

gumpI Am Gump.  I stood up, paused, and took off.  I ran for about 30 minutes and then decided since I’d run that far I might as well run some more.  So, I ran another 30 minutes up the hill to the mountain and since I’d gone that far I decided to head towards the park.  Then, rather than run across the country I decided to run home…that’s enough.

Call it stress, anxiety…I don’t care.  There’s a lot going on with my travels back home last week to visit family …my elderly parents …my brother’s wedding …and the anticipation of Hanukkah and Christmas since we celebrate both in my house.  Running knocks it out of me – gives me perspective – fresh air – my saving grace.  My only other saving grace is the mortgage industry – it’s a stress-free job.

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