Phil Grossfield's Blog

My Schedule…and A Little Extra:   It wasn’t legal in Minnesota, so my big sister and her fiancé drove to Minnesota and got hitched.  So, this weekend is the ceremony and I’m flying to Minnesota for the celebration.  I’m extremely proud of my sister…she’s a brave and soulful person.  I wish I could have been there for the ceremony, but I’m grateful to be going to Minnesota for the reception.  I leave today at 5p…I’ll be dropped off at the airport early so I’ll be working in the terminal.   |   They were loud, rude, restless, and my son ended up peeing on the floor.  About a year ago my wife and I went to an Italian restaurant near our house.  To sum up the evening, my kids (3 and 6 at the time) were bonkers…last night we went back, hoping nobody recognized us.  My kids were quiet, polite, reserved, and my son urinated in the bathroom.  How do you like me now?!

Mystery Lyric:   When I think of those East End lights, muggy nights, curtains drawn in the little room downstairs — Prima Donna Lord you really should have been there, sitting like a princess perched in her electric chair — And it’s one more beer and I don’t hear you anymore — We’ve all gone crazy lately, my friends out there rolling round the basement floor — Answer.   

My Market Watch:  Bonds are holding up despite some positive economic reports including the 10-year note auction in Spain.  If you recall, a bond auction always confuses me because logically I think a good bond auction would be good for rates.  So, I contacted Rob Chrisman who is incredibly smart about all this stuff…he was kind enough to give me a call and explained that because the auction was overseas, it bodes well for their economy and in turn this bodes well for ours.  Specifically, if investors are purchasing Spain’s debt, then it means they’re getting a better price than American debt, which means their debt is worse off than ours.  This trumps the fact that bonds simply sold well…I think I got that right.  In addition, Jobless Claims were reported higher than expected meaning more people are without jobs which is a weak economic report…whenever the economy is interpreted as weaker, traders invest in bonds rather than stocks and rates improve.  Let me know if you have any comments or questions, okay?

My Schedule:  Today is a busy day…after catching up on emails I will run and get a haircut, back to the computer to catch up, then off to the airport where I will work all afternoon.  Tomorrow I will work at my brother’s house all day.

Turn-Times Improved!

• Purchases:      3 days from submission (after registration)…prioritized throughout the process.
• Refinances:     4 days from submission (after registration)…45-day locks still recommended.

TODAY’S RATES:  Pricing Engine (password required)     Rate Sheet for Today     InterBank Product Matrix 

Locks  |  Running DU/DO  |  Register, Submit & Appraisals  |  Upload Conditions  |  CICs  |  Order Docs

There is no flood fee, tax fee, etc.  Appraisal Waivers accepted with $75 waiver fee.  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.