Phil Grossfield's Blog

My Schedule…and A Little Extra:  Soon everyone will be able to see…even blind people.  I don’t mean in some spiritual way, I mean actually see.  Like any true geek does, I was reading technology news and came across an article about bionic eyes…yes, you read me correctly.  They are developing technology that is surgically implanted into the eye and brain that will give people the ability to see.  For now its limited as you’d expect, but imagine being completely blind and seeing light for the first time in years, or the first time ever.  Just being able to distinguish light and maybe colors would dramatically change the life of a blind person.  And you know the technology is just going to get better and better, am I right?  Bionic Eyes Video.  And how about bionic hands?  They now have prosthetics that are so realistic it borders scary…it’s like from the future man!  It is so amazing to me the knowledge they have of how the body works that they can attach a prosthetic electronic/bionic hand to your arm and your brain can learn to control it as if it were an actual limb.  And you know the technology is just going to get better and better…amazing.  Bionic Hands Video.

My Schedule:  I am available all day.

My Market Watch:  Pricing is the same as Friday and yesterday…no changes. As of now the market is flat with almost no activity.  There is not much going on today but there are a fair amount of economic reports this week that could make the markets move.  In general, the inverse-relationship of stock and bonds is still a valid economic truth.  That is, when the stock market performs well the bond market performs poorly and vice-versa.  The theory, which is not always true, is that traders tend to pull money from bonds to invest in stocks and vice-versa.  Many believe stocks have reason to jump this week which would make bonds suffer.  But there is also concern over domestic companies poor reporting.  As always, there is no clear investment strategy.  My advice is to have healthy and comprehensive discussions with your borrowers about the advantages and disadvantages of floating versus locking.  But whatever you do, once you lock a loan, make sure your borrower understands that you  are doing so to protect them.  Should rates move, you expect them to be faithful to you.  Have I ever mentioned that I have a tendency to state the obvious?  My Disclaimer

My Fun Stuff:   All My Fun Stuff

My Important Reminders:

• Guideline Enhancements (from 2/8)
  • Condos to 90% LTV, OO (instead of only 80%) but if >80% then require 720 Fico
  • All NOO to 75% LTV (instead of only 70%) but if >70% then require 720 Fico

• APPOINTMENTS.  I am setting up appointments for the next several weeks…please let me know if you’re interested in an office visit.  I will be sharing my insight on how to get new business in 2013 and what to prepare for as the year progresses….
• STILL WANTED.  We are looking for Senior Underwriters, Loan Coordinators, Junior UWs, Doc Specialists and Funders. Referrals are greatly appreciated.  Remote positions are available.