My Schedule…and a Little Extra: “But Phil, my borrower is going on vacation and we need to expedite everything!” I’m sympathetic, I really am…but you have to know it doesn’t work on Operations. Did you know I used to run a branch for MIT Lending/MortgageIT? Did you know my branch was the highest producing and most profitable branch in the country before Deutsche Bank shut us down? So, as a former Branch Manager in charge of sales and Operations, I am telling you that the excuse your borrower is going out of town is ineffective…simply unpersuasive. Why you ask? Because Operations hears that excuse 500,000,000,000,000 times a day, maybe more. Nothing rolls the eyes of an Operations person more than hearing the borrowers will be going on vacation. Now, I know it’s true your borrowers are going out of town, but I’m telling you it does you more harm than good to tell Operations. And this is not an Interbank thing…this is true of every lender. In my opinion you’re better off telling Operations another story or using a different tactic to request an expedite, you dig me? 🙂
My Mystery Lyric: I turn the music up, I got my records on — I shut the world outside until the lights come on — Maybe the streets alight, maybe the trees are gone — But I feel my heart start beating to my favorite song — And all the kids they dance, all the kids all night — Until Monday morning feels another life — I turn the music up, I’m on a roll this time — And heaven is in sight……… — Answer
My Market Watch: Today the markets are expected to be calm since Greek elections are on the horizon. Yesterday, we saw a nice pick-up for bonds with weak economic news, namely, a lackluster retail sales report and more importantly a big down-grade of Spain by Moody’s. The only other thing that might make things move is today’s $13 billion 30-year bond auction. That said, bonds are performing well this morning already up 16bps since our rates came out. If this trend continues we could see a mid-day price change for the better…that would nice, eh? Disclaimer
My Schedule: I have one short appointment today at 2:30p and then I might bail to take my son to the doctor, depending on the doctor’s availability.
Read Me for a Clean Underwriting Decision Resulting in Happiness and Adulation
Ignore Me for a Long List of Conditions, a Huge Hassle, and Massive Frustration
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Purchases: 4 days from Submission (after registration)…prioritized throughout the process.
Refinances: 7 days from Submission (after registration)…45-day locks still recommended.
Conditions: 48 hours from last uploaded document.
Phil, you speak the truth with humor and grace.