Phil Grossfield's Blog


HARP 2.0, Index To Watch, The Dog Almost Died, Oooh…it makes me wonder

My Schedule…and a little extra:  The dog almost died at Grandma’s Shiva.  About 4 months ago my grandmother passed away at age 95 and I flew to Minneapolis for the services.  We had the Shiva (get-together to mourn) at my parents’ apartment – the party room.  So, my brother brings his dog to the Shiva and asks me to take him upstairs and put him in my parents’ apartment.  Little did I know that people had been delivering flowers and baskets for my Mom…there was a bowl filled with 2 pounds of chocolate candies.  The dog ate the whole thing.  Ahhhhhhhhhhhhhhhhhhh!  We rushed to the vet getting there 10 minutes before they close, pumped his stomach, and rushed back for the mourners’ service just in time.  Talk about drama!  P.S. last night I was reminded of this story watching Conan, in case you were wondering. 🙂   Mystery Lyric:  There’s a sign on the wall but she wants to be sure, Cause you know sometimes words have two meanings — In a tree by the brook, there’s a songbird who sings, Sometimes all of our thoughts are misgiven — Ooooooooooooooooh, it makes me wonder — Answer.   My Market Watch:  With the crazy volatility in the stock and bond markets and with rates going up, I have received a fair number of questions about what index I follow to see which direction rates are headed.  I watch the 30-year Fannie Mae Bond at the 3.500% coupon.  Unlike the 10-Year, the 30-year Fannie bond is a direct indicator of rates…it it goes up, rates get better and if it goes down, rates get worse.  The 10-year is more of an indirect indicator and it isn’t always the best to watch.  Let me know if you have any questions, okay?   My Schedule:  Behind the computer all day until 4:30p. 

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HARP 2.0

  • Launching on Monday officially…I will send out a separate email on this a little later in the day….

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.


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