Phil Grossfield's Blog


Bonds Sufferring, What I Did, $699 Lender Fee, Look Closer

My Schedule…and a little extra:  Yesterday I told you about the sick birthday kid who sneezed all over the cake and “spit” his candles out.  The dilemma was how to prevent my eager kids from eating the germ-infused cake without instantly triggering deafening screaming and crying.  I received many replies asking what I did.  What I failed to tell you was there were cupcakes off to the side so I quickly busted a move and nearly escaped with our health, lungs, and sanity intact.  But those parents dished that nasty cake out to the rest of the kids, and other parents, while I remained silent and repulsed, but safe off to the side.  Bullet-dodger…whew!    Mystery Lyric:  So take a good look at my face, you’ll see my smile looks out of place — if you look closer, it’s easy to trace, the tracks of my tears — Answer.   My Market Watch:  Capital Markets must be having a challenging time with the triple whammy yesterday.  First, the Fed made a statement essentially saying the economy was improving while the bond market remained distressed. Then they acknowledged inflation might increase, and then there was encouraging news about JP Morgan.  The result, traders pumped their money into stocks and bonds suffered…when that happens, rates get punished.   My Schedule:  Behind the computer most of the day with one errand to drop off my tax documents to my awesome CPA this afternoon….   

Our Lender Fee is only $699 “All-In”

  • There is no flood fee, tax fee, etc.
  • Appraisal Fees may be reimbursed at closing. 
  • Processing Fees may be charged to the borrower on borrower-paid transactions.  For lender-paid transactions, outsourced contract processing (NMLS Licensed) is considered a 3rd-Party Fee and therefore may be covered by YSP overage/excess rebate.
  • YSP overage (excess rebate) may be used towards 3rd-Party Fees, Contract Processing (NMLS licensed), Prepaid Interest, Property Taxes, Hazard, and max $500 towards principal reduction.


Procedures Updated:


  • 3-Day UW Turn-Time For Purchase Transactions
  • $699 All-In Lender Fee (no flood fee, tax fee, etc.)
  • Condos Accepted – no 51% owner concentration rule and limited reviews accepted…email me for details.  Condos up to 70% LTV and 80% CLTV with exceptions available
  • Forward (Pre-Locks) Permitted – file must be submitted within 10 dyas.
  • Minimal Overlays – see below
  • Killer Rates:  click here

Minimal Overlays:

  • Click here for a comprehensive list of our Overlays
  • Exception to overlays are possible…let me know if you need one….
  • Condos – 70% LTV and 80% CLTV with exceptions available
  • Interest Only – not permitted in CA
  • Cashout – 70%
  • Purchases max LTV 80%
  • Refis max LTV 90%
  • NOO max LTV 60%
  • Minimum 700 Fico for all FHA loans
  • No income-producing properties


Pricing Engine | Current Rate Sheet | Product Matrix | Broker Guides | Overlays

Submission Procedures | Appraisal Instructions | Underwriting | Disclosures

Forms | Mortgagee Clause | Broker Tutorial | County Loan Limits | RESPA

My Blog: | Team Purple Help

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