Phil Grossfield's Blog


He Said She Said; Wells Fargo Exits Wholesale

My Schedule…and No Extra:  She wouldn’t do what he wanted and he wouldn’t do what she wanted.  Sound familiar?  Well that was the story at bed-time last night.  Normally I can find some common ground…but last night my two kids would not agree on anything…nothing.  When faced with these situations, which is very rare, I do my best to come up with an alternative or distraction to get over it.  You know, try and get them to see a better/happier alternative…it usually works like a charm.  But last night I just couldn’t get it done…they rejected every single idea.  It’s almost like they insisted on being unhappy…they must have been over-tired…when reason is no longer possible.  Well, I refused to force anything so I called for back-up…my wife had to come upstairs to rescue me by taking over with one of the kids.  I have to say, it sure is nice to have that back up…I have no clue how a single parent gets it done night after night without help/relief.

My Market Watch:  Rates are the same as yesterday.  Economic reports and indicators continue to be poor and rates are holding steady as a result.  You see Wells Fargo’s announcement yet?  Disclaimer

My Schedule:  This morning I am working from home and I am out and about all afternoon.

UPDATED DAILY:                                                                                                     
Guideline Guidance to get a clean underwriting decision resulting in happiness and adulation…you could IGNORE THIS and find yourself with a long list of conditions, a huge hassle, and massive frustration

My Procedures are updated daily – check it out…

Purchases:      3-4 days from Submission (after registration)…prioritized throughout the process.

Refinances:     8 days from Submission (after registration)…45-day locks still recommended for all loans.

Conditions:     48 hours from last uploaded document.

Funding:         48-72 hours for document review and issuance of funding conditions…please refer to the broker portal for PTF conditions listed.

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