Phil Grossfield's Blog

A LITTLE EXTRA…

Why Bonds WHY?!?!?!!! Unlimited LTV HARP 2.0?!

My Schedule…and a little extra:  I tried to warn you…bonds got ripped yesterday…read below….  We’re launching HARP 2.0 today or tomorrow.  Rumor is we’ll have aggressive terms…more to come….   Mystery Lyric:  Who propped you up when you were stopped low motivation, had you on the ground — I know your first reaction you slide away – hide away goodbye — But if there’s a doubt maybe I can give out, a thousand reasons why…you have to say it isn’t so — Answer.   My Market Watch:  Yesterday the blank hit the fan…why?  Well, there were several factors.  First, the Fed made a statement essentially saying the economy was improving while the bond market remained distressed. Moreover, they failed to mention anything about QE3.  To a trader this means ‘buy stocks now and sell bonds!’  Second, the Fed said inflation might be on the rise…‘sell bonds!’  Third, JP Morgan reports positive news…‘buy stocks!’  Simply put, traders look for a reason to buy and sell…they watch reports, domestic politics, geopolitical news, or statements made by the powerful, i.e., the Fed.  Then they interpret that information to make a decision…if their interpretation is the economy is strong, then they buy stocks and typically sell off bonds at the same time.  Conversely, if their interpretation is the economy is weak, then they sell of stocks and typically buy bonds.  When bonds are sold off rates get worse.  If you look at all the news in the last week, it’s been focused on a stronger economy…rates have suffered as a result.  Does that make sense?   My Schedule:  Behind the computer all day….   


Pricing Engine  user ID & password required       Rate Sheet for Today       Product Matrix 

HARP 2.0

  • We are announcing our launch of HARP 2.0 today or tomorrow…standby for more information….

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:

 

 

2 responses to “Why Bonds WHY?!?!?!!! Unlimited LTV HARP 2.0?!

  1. Sally Doherty March 15, 2012 at 5:50 pm

    Phil, I admire the way that you can explain something in a simple and straightforward way without sacrificing the essence of the message. Your blog “Why, Bonds, WHY” is a prime example. Suffice it to say, I appreciate your communication style.

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