Phil Grossfield's Blog


Monthly Archives: February 2012

Condos>51%, I’m Behind!

My Schedule…and a little extra:   Today I’m running behind so no little extra for you.   In economic news:   If I don’t have time to write a little extra above then I am definitely not spending time researching the damn economy…not today.   My Schedule:  How many times do I have to explain that I’m running behind…geez!

Condos>51%, Birthday Boy, Pending Sales, Greece

I'm Four!

My Schedule…and a little extra: Today is my boy’s 4-year birthday…all I can say is “Wow.” This morning I explained to him that life is a journey…that life is about enjoying the present moment…that life is full of miracles if you pay attention. He looked me right in the eye and said, “Daddy, I want pancakes.” He’s such a big boy! In economic news: The Pending Home Sales report was positive…more homes are pending sale than in the last 2 years. Greece continues to grab headlines…it is officially rated in default. These reports should bode well for rates as they indicate a stronger bond market and a weaker stock market. When traders would rather invest in bonds than stocks, generally rates improve. My Schedule: I have a conference call this morning and an appointment through noon…so, I will be hard to reach until after lunch. Please be patient with replies….

Condos with >51% Investors: Occupancy % is irrelevant if (1) the LTV is no more than 80% so there is no MI issues to consider; and (2) the subject is a primary residence or 2nd Home – not an investment. For example, you have a condo where there are 35% owners and 65% are investments. Your borrower is buying as owner-occupied with 20% down. Will InterBank lend? Yes! Let me know if you have any questions, okay?

Nobody Was Beaten, Week of Reports

My Schedule…and a little extra:   So, my wife is home from her 5-day business trip (dog-sledding, remember?) and I have help once again.  I have to say, being a single Dad for 5 days was a bit challenging but I handled it well…nobody was beaten and the kids are in good health.  And, I can sincerely say I enjoyed it.  The kids and I got into a nice routine and things were smooth.  Although this isn’t the first time I’ve been alone with the kids, it has been the longest.  I can certainly wholeheartedly appreciate single parents.  After all, I was in charge of all the procedural aspects of the week…potty, food, school, food, potty, bed, etc., but I did not have to sign anyone up for after-school activities, buy presents for friends birthdays, get clothes and school supplies…it’s all those little things we take for granted.  All in all, a fantastic week but definitely glad the wife is back.  And the best part is I have a deposit in the Las Vegas boy’s trip bank!   In economic news:  Last week was light in economic reports but this week there are a fair number.  Today is Pending Home Sales, tomorrow is Durable Goods and Consumer Confidence, Wednesday is GDP and Chicago PMI and some commentary from the Fed, Thursday is Jobless Claims which is the biggest report of the week and a couple others.   My Schedule:  Behind the computer all day and available….

Dog Sledding Without Me? Really?

My Schedule…and a little extra:   I’ve been a single Dad all week as my wife is dog-sledding in Quebec, Canada…yes, without me.  I like dog-sledding, or I think I would like it.  But do I get to go?  No, no I do not.  My wife is a travel writer and therefore gets to go on all-expense paid trips…often times without the rest of us.  But am I bitter about it?  No (grinding teeth).  Come on!  Dog-sledding?  Without me?!  Really?!   |   FYI, my wife’s blog can be found at TravelMamas.   In economic news:  Pricing improved yesterday by about 0.250 and the 10-yr closed around 1.98%.  There is not much news…only Consumer Sentiment and New Home Sales.   My Schedule:  I have a noon appointment with a friend recovering from surgery…I’m bringing her a salad, and otherwise available all day….


What Do I Know?

My Schedule…and a little extra:   For weeks I’ve been telling my daughter to tie here shoelaces…“you’ll trip and get hurt” I’d say.  Her response was usually some little 7-year-old snarky reply about how she doesn’t need to tie them.  But what do I know?  I guess some lessons need to be learned the hard way, yes?  Yesterday she learned the hard way…she got strawberries all over her knees and hands.  Now I ask you, is it wrong for me to be happy she got hurt?  I mean, she’s not really hurt, right?  What would Spock say?  Eh, what do I know?   |   FYI, my son is fine…the treatments on his asthma worked great and he’s back in school this morning.   In economic news:  Not much in news yesterday.  The only significant report this morning, besides geopolitical issues or news in Europe, is Existing Home Sales.   My Schedule:  I have an appointment in Mission Viejo and back toSan Diego this afternoon.  I’ll be in the car so email replies might be delayed.


My Schedule…and nothing extra:   Today my son is sick and I am a single parent while my wife, the Travel Mama is out of town on a press trip to Quebec, Canada.  As a result, my availability will be spotty…I have to take him to the doctor…he has asthma pretty bad, was up most of the night (as was I) and won’t stop coughing.  At the doctor they can give him this cranked up treatment which is usually very responsive …G-d-willing I can take him to school this afternoon.  I will respond to emails and calls as time permits….


TODAY’S RATES:  click here

Pricing Engine:  Click Here  (user ID and password required)

Rate Sheet for Today:  Click Here 

Product Matrix:  Click Here

President’s Day

My Schedule…and a little extra:   Today is President’s day but we’re open.  I will be responding to emails throughout the day but I have my kids with me so please be patient with replies.  I’ve attached a rate sheet for your convenience and you can use our Pricing Engine if you have a user ID and password.  Let me know if you have any questions….


TODAY’S RATES:  attached

Pricing Engine:  Click Here  (user ID and password required)

Rate Sheet for Today:  Click Here

Product Matrix:  Click Here

Daddy, why…? Economy Improving?

My Schedule…and a little extra:   While I’m on the subject of music lately, have you seen Pink’s Grammy performance from last year?  Questions from the kids:  Daddy, why is her name Pink?  Daddy, why is she taking off her clothes?  Daddy, won’t she get sick hanging upside down?  Daddy, why do you watch this video so many times?   In economic news:  Could the economy be improving?  Really?  Don’t play with me now!  Well, inflation is trending lower, jobless claims are at their lowest levels since 2008, and housing is on the rise too.  So, you tell me…are we improving?   My Schedule:  Friday means Happy Hour with the neighbors which starts early…but I’ll be available until at least 4:00p. J  Have a great weekend!

Whitney Houston, Jobless Claims, 3-Day Purchases

My Schedule…and a little extra:   Her voice was pure…I’ve never been a huge fan of Whitney Houston but you can’t deny her talent.  My best friend from high school in MN sent me a text that simply said, “the Voice is gone”.  I recorded the Grammys and watched Jennifer Hudson sing I will Always Love You and man she did a tremendous job…I mean, what a performance under that pressure no less.  Then I pulled up the song on my iPod and listened to Whitney do it…the difference was colossal.  There are a lot of incredibly talented singers with great voices in our world, however, regardless of your personal views about her music, you simply cannot challenge the fact her voice was one of the most beautiful ever.  I want to hate Bobby Brown, but we choose the people we let into our lives…if not him, then someone else.  Too bad…so sad….   In economic news:  Initial Jobless Claims came in lower and is the lowest in almost 3 years.  Save any other data, rates are worsening as traders feel more confident with investing in stocks rather than bonds.   My Schedule:  I’m behind the computer all day.

Heart-Shaped Box of Chocolates, Retail Sales, 3-Day Purchases

My Schedule…and a little extra:   Last night I sprang a heart-shaped box of chocolates on my wife…she loves herself a heart-shaped box of chocolates!  Once handed over I was smart and remembered to keep my fingers far away as to avoid any injuries.  As she’s eating a chocolate, a commercial comes on the TV about some bikini diet thing at which time my wife yells at the TV, “shut up!…can’t you see I’m eating a box of chocolates here!”  I laughed for 5 minutes straight.   In economic news:  Yesterday rates improved because of the Retail Sales report which was weak. Whenever an economic report is interpreted by traders that the economy is weak, or weaker than expected, they typically sell off stocks and buy bonds instead.  When traders buy bonds, our rates improve…that’s what happened yesterday.   My Schedule:  I have a full day today…several scheduled calls this morning, an appointment at 10:30 and another at 3:00p.  I will respond to emails and calls as time permits….

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