Phil Grossfield's Blog

My Schedule…and A Little Extra:  Steam room horror at the health club…don’t get the wrong idea…let me explain….  I like to take a steam after my workout.  In fact, I workout so I can take the steam.  Anyway, there’s this one guy that is always in the steam room…our schedules must be synched, like roommates at an all-girls college.  This guy is the life of the locker room…everyone knows him and he is always engaged in a classic locker room conversation.  I’m pretty sure this guy comes to the club for an executive workout, you know, no exercise…just a sh**, shower, and shave. What irks me is I have some kind of internal pressure to get in on the conversation, like a junior high school nerd trying to be part of the cool guys discussion.  And so I’ve been waiting for the opportune moment to get in on the conversation…my need for social acceptance is palpable.  And then my chance presents itself!  The conversation turned to an issue involving interest rates and the market…my expertise…perfect!  I quickly blurt out a comment so relevant and witty surely they will see that any future conversation without me would be disappointingly humdrum.  There is a pause, a short remark, and then the conversation reverts and once again I’m excluded…I’m out.  Oh the horror!  From now on, I’ll just keep quiet in the steam room like usual…unsurprisingly that seems like the right course of action anyway….

My Market Watch:  Rates/pricing are worse due to a strong economic report…jobless claims.  The report indicated that there were less claims…if you’re a trader on Wall Street and you’re looking for information on whether the economy is strong or weak, then seeing less jobless claims is an indication of a strong economy, right?  So, as a trader you decide to put your money into the strong economic market, i.e., the stock market.  And where do you get money to put into the stock market?  You pull money out of bonds.  And viola, bond prices get worse and lender rates/prices accordingly get worse too.  So, tomorrow is the Jobs Report which measures how many new jobs are reported.  Again, if the report shows strength in the economy, traders will invest in stocks and rates/pricing should worsen again.  However, if the report comes in lower than expected, which is supposed to be 165,000 new jobs in February, then traders will pull money out of stocks and put that money into bonds instead, and if that happens pricing will improve. The key for that to happen is the number of new jobs has to come in much shorter than expected, around 125,000 new jobs…this would make the swing we need for lower rates/pricing.  What’s going to happen?  Let me know if you have a clue…. My Disclaimer

My Schedule:  Today I am driving my parents around and hitting the local Starbucks wherever I am.

My Fun Stuff: I watch this almost every single day  |||  All My Fun Stuff

My Important Reminders:

• PURCHASE PRIORITY SENIOR UW TEAM.  Effective immediately, all purchases will be assigned to a Senior Underwriter team who will exclusively underwrite, condition, and clear conditions.  This is contrary to our normal queue-strategy for refinances using junior underwriters.  Interbank is doing this at the suggestion of the Account Executives who voiced their opinion that we need a more timely, consistent and predictable process for purchase transactions to give our clientele continued confidence to send them in.
• 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.

My Schedule…and A Little Extra:  My lawn is dying.  The reason…my sprinkler system is broken.  The water is not spraying and when I manually override it the damn side of the house floods…ugh!  Anyone know a reputable company that does sprinkler systems?  |||  This morning my newly turned 5-year-old son threw his shoe at me while I was making breakfast in the kitchen.  He was upset because he really (emphasis on really) wanted me to put his 10,000-piece Lego project together for him in the 10 minutes we had before his Mom took him to school.  I was not pleased but I calmly explained that throwing a shoe in the kitchen could have shattered the coffee maker which was full of hot steaming coffee or it could have started a fire as I was making my wife some eggs on the stove.  SERENITY NOW!

My Market Watch:  Rates/pricing are slightly worse today than Friday…by about 0.125.  DISTINGUISH YOURSELF.  Why do I tell you about market updates?  Why do I explain economic reports and send market updates?  I do it because you need to distinguish yourself from all the other LOs out there that have no blanking idea what is going on in the marketplace.  I’m not suggesting you need to be an expert on market fluctuations, but if you have some basic understanding of the market, it gives you a distinct advantage when you are talking to potential and existing clients.  if you watch the market and you are aware of the direction of stocks and bonds, it gives you (1) something relevant to discuss with your client when they ask you if they should lock their rate in, (2) makes you sound like you are on top of what is going on in the marketplace, (3) helps you look good when you recommend locking or floating and it works out in your favor, and (4) distinguishes you from other LOs.  |||  This week we have two big reports…Jobless Claims on Thursday and the Jobs Report on Friday.  These reports can cause a swing in mortgage rates/pricing because they indicate the strength or weakness in the current economy.  Traders buy and sell stocks and bonds based on their perception of the economy’s strength (amongst other things).  If the reports come in indicating a strong economy, then traders will pull money out of bonds and invest in stocks instead.  When that happens rates/pricing worsens since bonds are being sold off.  On the other hand, if the reports indicate a weak economy, then traders will pull money out of the stock market and invest in less-risky bonds…since money is going into the bond market rates/pricing will improve.  Although this inverse relationship between stocks and bonds is not always true, it holds up most of the time and can usually be relied upon in trying to determine if lender’s prices will get better or worse.

Report = Strong Economy = Traders Buy Stocks = Sell Bonds = Rates Pricing Worsen
Report = Weak Economy   = Traders Sell Stocks  = Buy Bonds = Rates Pricing Improve

So, the next couple days should be relatively light in trading since everyone is keyed up for Thursday and Friday….     My Disclaimer

My Schedule:  Today I am driving my parents around and hitting the local Starbucks wherever I am.  I will be in Del Mar most of the day.

My Fun Stuff:   All My Fun Stuff

My Important Reminders:

• PURCHASE PRIORITY SENIOR UW TEAM.  Effective immediately, all purchases will be assigned to a Senior Underwriter team who will exclusively underwrite, condition, and clear conditions.  This is contrary to our normal queue-strategy for refinances using junior underwriters.  Interbank is doing this at the suggestion of the Account Executives who voiced their opinion that we need a more timely, consistent and predictable process for purchase transactions to give our clientele continued confidence to send them in.
• 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.

My Schedule…and A Little Extra: How many presents does a 5-year old need? He has received gifts from his grandparents on his Mom’s side, my parents, and last night my wife gave him a bunch of things from us. My two sisters and brother are sending presents and my brother-in-law and sister-in-law are sending a present. Moreover, tomorrow he has a birthday party at a putt-putt golf course and 15 kids will be bringing presents. For the love of all things holy in this land, this is nutballs. There’s that word again, nutballs, what is it about this word that I like so much? Oh well, out with the old and in with the new…charity is going to get a nice donation of old toys very soon. ||| I watched American Idol for the girls last night and I was blown away at 4 of their performances. There are 4 girls that are ridiculously good, and one of them is drop-dead gorgeous…the whole package. I don’t know any of their names yet, but it’s going to be a fun competition to watch….

My Market Watch: Being out yesterday I missed what was going on in the market…I wasn’t really paying attention. I did see some volatility as I went through emails. The market is flat at the moment, even with President Obama’s tirade. The sequester drama continues and it will be interesting to see how it affects the markets…. My Disclaimer

My Schedule: Today I am driving my parents around and hitting the local Starbucks wherever I am. I will be in Pacific Beach for sure as my father looks forward to going to his favorite breakfast place every year, Armando’s.

My Fun Stuff: All My Fun Stuff

My Important Reminders:

• PURCHASE PRIORITY SENIOR UW TEAM. Effective immediately, all purchases will be assigned to a Senior Underwriter team who will exclusively underwrite, condition, and clear conditions. This is contrary to our normal queue-strategy for refinances using junior underwriters. Interbank is doing this at the suggestion of the Account Executives who voiced their opinion that we need a more timely, consistent and predictable process for purchase transactions to give our clientele continued confidence to send them in.
• NEW FANNIE DEFINITION FOR RATE & TERM/CASHOUT:
  • The definition of a limited cash out loan has been amended. If you include the payment of real estate taxes in the loan amount, and you are not escrowing/impounding (meaning you are waiving impounds), then Fannie will consider the transaction cashout. HOWEVER, California does not allow a lender to require an escrow account, so, the rule does not apply in CA…how do you like them apples?! Beautiful, eh?! But if the real estate taxes are more than 60 days delinquent, then even in CA Fannie considers it a cashout transaction….kind of the exception to the exception.
  • None of this is applicable to a HARP/DU Refi Plus transaction.
  • So, to clarify the beautiful rule in California, we are not affected by this rule change, not even a tiny little bit, as long the payment of real estate taxes is not more than 60 days delinquent, got it?
• 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.
• 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

My Schedule…and A Little Extra:  I am taking advantage of the present moments.  Goodbye mon frère…today my best friend from Minneapolis flies back home to the frozen tundra.  While he was here I’ve gained 10 pounds and might need to have my liver checked out, but that’s the price one pays to be reunited with family.  My Mom and Dad arrive on Thursday and I am planning on taking some time off while they are here.  They are staying for 11 days over 2 weekends so that’s a lot of time. Nonetheless, while they visit I have decided to spend as much quality time with them as possible.  Therefore, you may see my out-of-office message over the next couple weeks…in it will be contact information for coverage in my absence.  I know you understand…at any age its true, but even more so as we get older…we must take advantage of the present moments.

My Schedule:  I have an appointment today from 9-11a and will be available the remainder of the day.

My Market Watch:   Interbank continues to be aggressive with rates…we are on the top of the list.  When Interbank is this aggressive Capital Markets tends to be a little trigger happy meaning that even slight fluctuations in the stock/bond markets can prompt a mid-day re-price.  Today Fed Chairman Ben Bernanke spoke to the Senate and said he believed the risks of Quantitative Easing outweighed the risks.  This is good for bonds but the stock market will like this as well.  How bonds and stocks react to the news is still a question at this point in the day.  Bernanke isn’t done either so there is definitely a possibility for continued volatility. According to the Mortgage Market Guide, there is resistance to increased bond prices and with yesterday’s gains they are recommending locking rather than floating.  I must agree…I think there is more downside than there is upside at this point.   My Disclaimer

My Fun Stuff:   Embrace Life  |  Bionic Hands Video  |  Bionic Eyes Video  |||  All My Fun Stuff

My Important Reminders:

• New Fannie Definition for Rate & Term/Cashout:
  • The definition of a limited cash out loan has been amended.  If you include the payment of real estate taxes in the loan amount, and you are not escrowing/impounding (meaning you are waiving impounds), then Fannie will consider the transaction cashout. HOWEVER, California does not allow a lender to require an escrow account, so, the rule does not apply in CA…how do you like them apples?!  Beautiful, eh?!  But if the real estate taxes are more than 60 days delinquent, then even in CA Fannie considers it a cashout transaction….kind of the exception to the exception.
  • None of this is applicable to a HARP/DU Refi Plus transaction.
  • So, to clarify the beautiful rule in California, we are not affected by this rule change, not even a tiny little bit, as long the payment of real estate taxes is not more than 60 days delinquent, got it?
• PURCHASE PRIORITY SENIOR UW TEAM.  Effective immediately, all purchases will be assigned to a Senior Underwriter team who will exclusively underwrite, condition, and clear conditions.  This is contrary to our normal queue-strategy for refinances using junior underwriters.  Interbank is doing this at the suggestion of the Account Executives who voiced their opinion that we need a more timely, consistent and predictable process for purchase transactions to give our clientele continued confidence to send them in.
• 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.

My Schedule…and A Little Extra:  Despite attending an Oscars party last night I didn’t watch even 2 minutes of the show…but that’s not too surprising.  The only movies I saw were Lincoln, Silver Linings, and of course Brave.  I LOVE movies but with two young kids it’s difficult to get out and when we do get a babysitter we are resigned to just grab some kidless peace with dinner and cocktails, can you dig it?  Sometimes I truly wish we lived near family…how lovely would it be to drive by my parents house, open the mini-van doors, push the kids out into a roll, and take off with the tires squealing?  But alas, we have no family in town so we have to hire someone to watch the kids…and that’s okay I guess.  Anyway, I thought Lincoln was tremendous but what do you expect when you put Daniel Day Lewis and Steven Spielberg together?  And I really liked Silver Linings although my wife wasn’t a fan.  But since I haven’t seen any of the other movies it’s hard to judge…kind of like voting for a political candidate whose name you don’t recognize.  My Mom and Dad said Les Miserables was the best movie they ever saw, even better than Gone With the Wind which made my jaw drop to the floor, but my parents are closing in on 80 so you have to take that into consideration (sorry Mom).  The only movie on the list I am going to make a point to see is Argo…I have heard great things about that one.  And that’s the end of my thrilling commentary on Oscar night…almost as exciting as the show itself.  |||  Fannie Mae is defining rate & term and cashout transaction differently with respect to the payment of real estate taxes, but the new definition will not affect CA loans in most cases…read My Important Reminders below.

My Schedule:  I have appointments today at 10a and 3p.

My Market Watch:   Interbank continues to be aggressive with rates…we are on the top of the list.  When Interbank is this aggressive Capital Markets tends to be a little trigger happy meaning that even slight fluctuations in the stock/bond markets can prompt a mid-day re-price.  Early tomorrow morning Fed Chairman Ben Bernanke speaks to the Senate and any time he opens his mouth traders are going to listen carefully.  I used to say that when Alan Greenspan showed up for anything traders were instantly making predictions about market direction based on the clothes he was wearing.  But Bernanke is expected to address the Fed’s intentions with respect to continued Quantitative Easing…the Fed’s strategy to buy bonds which continues to drive the artificial low rate bond market we are all currently enjoying.  Specifically, he is expected to tell us whether the Fed is going to continue buying bonds through 2013.  Needless to say, tomorrow morning should be interesting….   My Disclaimer

My Fun Stuff:   Embrace Life  |  Bionic Hands Video  |  Bionic Eyes Video  |||  All My Fun Stuff

My Important Reminders:

• New Fannie Definition for Rate & Term/Cashout:
  • The definition of a limited cash out loan has been amended.  If you include the payment of real estate taxes in the loan amount, and you are not escrowing/impounding (meaning you are waiving impounds), then Fannie will consider the transaction cashout. HOWEVER, California does not allow a lender to require an escrow account, so, the rule does not apply in CA…how do you like them apples?!  Beautiful, eh?!  But if the real estate taxes are more than 60 days delinquent, then even in CA Fannie considers it a cashout transaction….kind of the exception to the exception.
  • None of this is applicable to a HARP/DU Refi Plus transaction.
  • So, to clarify the beautiful rule in California, we are not affected by this rule change, not even a tiny little bit, as long the payment of real estate taxes is not more than 60 days delinquent, got it?

• PURCHASE SUBMISSIONS.  Effective immediately, all purchases will be assigned to a Senior Underwriter team who will exclusively underwrite, condition, and clear conditions.  This is contrary to our normal queue-strategy for refinances using junior underwriters.  Interbank is doing this at the suggestion of the Account Executives who voiced their opinion that we need a more timely, consistent and predictable process for purchase transactions to give our clientele continued confidence to send them in.
• 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.

My Schedule…and A Little Extra:   Fried Oysters and peppers, amazing stone crabs, Caesar salad, perfectly prepared lobster, filet mignon, and Alaskan king crab legs, crab fried rice, parmesan mashed potatoes, brussels sprouts, some kind of hot chocolate raspberry cake with sauce, and finally the best carrot cake I’ve ever had.  Oh, and 2004 Turley wine, a Vesper martini, and complimentary port to end the night.  That’s how we celebrated one of my two best friend’s birthday last night at Trulucks Seafood Restaurant in San Diego.  Then we crawled to the car and came home.  My other best friend flew in from Minneapolis to share the event and weekend.  On Sunday, we’re having another party with homemade Mexican cuisine from our mutual friend Rob who is an amazing unprofessional chef.  Good times y’all.  Celebrate them baby!

My Schedule:  I have an appointment today at noon and will be done at 4:45p today for neighborhood happy hour.

My Market Watch:   The Glass Elevator Analogy.  There was a mid-day rate change yesterday afternoon dropping pricing about 0.125 across the board, and that’s how pricing opened up this morning.  There are no economic reports out today or Monday so traders will look to technical signals to guess whether bond prices will go up or down.  That means traders look to a history of how the 30-year Fannie Mae bond has traded over the last 10 days, month, quarter, etc.  These indicators are called moving averages and they give traders a basis for guessing whether the price of bonds will go up or down.  Accordingly they buy and sell to try and earn a profit.  For example, if they see the bond is trading higher, like it is this morning, then they look for moving average ceilings.  As the bond price goes up a trader will expect it to hit the moving average ceiling and then start to come back down again.  If it goes through the ceiling, then they look for the next ceiling.  I wrote a post on this back in August called The Glass Elevator Analogy – I like to think it’s a good visual on how to look at the ups and downs of mortgage backed securities. Let me know your thoughts….  My Disclaimer

My Fun Stuff:   Embrace Life  |  Bionic Hands Video  |  Bionic Eyes Video  |||  All My Fun Stuff

My Important Reminders:

• 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.

My Schedule…and A Little Extra:  Embrace Life.

My Schedule:  I have an appointment today at noon and will be done at 4:30p today.

My Market Watch:  Pricing is better than yesterday by about 0.125-0.250, presumably in a reaction to the Fed minutes which were released yesterday.  The message in the minutes confused me because according to Bloomberg there was dissention on whether the Fed should continue to purchase bonds:  Several participants “emphasized that the committee should be prepared to vary the pace of asset purchases, either in response to changes in the economic outlook or as its evaluation of the efficacy and costs of such purchases evolved,” the minutes showed…Bloomberg.  The reason it confused me is because a mere mention of the possibly that the Fed would alter its monetary policy for buying bonds is usually a good enough reason for traders to sell off bonds and put money into stocks instead.  But not this time.  It might be because there is a mention that monetary policy is increasing inflation, and bonds hate inflation.  So that little nugget may have tempered any concerns.  Not really sure.  I’d appreciate your thoughts on this one….  My Disclaimer

My Fun Stuff:   Bionic Eyes Video  |  Bionic Hands Video  |||  All My Fun Stuff

My Important Reminders:

• 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.

My Schedule…and A Little Extra:  Swing the Legs Soldier!  I worked out this morning for the first time in two and a half weeks.  I was up at 5a, got my blank out of bed and was at the club by 5:45a.  It was painful.  Being sick the last couple weeks has put a damper in my workout schedule and I finally felt up to the task to get back into it…but man, I tell ya, it was hard work getting out of bed.  I used to have a trainer who told me that when he was in the military his CO would come into the barracks at the crack of dawn screaming “swing those legs soldier!”. That meant swing the legs out of bed.  Now when my iPhone wakes me up at 5a I think just that…swing your legs Phil…get your blank out of bed!

My Schedule:  I have an appointment today at 11a in Lake Forest and otherwise available.

My Market Watch:  Pricing is the same as yesterday after the price worsening.  Today the Fed minutes from January 30^th will be released.  This report has a tendency to move the markets but usually it has just a mediocre effect since most of the information about that meeting is already known.  However, it’s possible there’s a nugget in the minutes that motivates traders to buy or sell bonds. After all, traders are looking for any information that will give them some insight into the direction of the market.  If they feel a new piece of information in the minutes indicates a stronger economy, it’s a good excuse to sell off bonds to free up funds to invest in stocks…this would worsen mortgage rates/prices.  On the other hand, if they find something that indicates a weaker economy than thought, then they would sell off stocks and use the capital to invest in bonds instead…this would improve rates/pricing.  So, all eyes are on the minutes which are released at 11a. My Disclaimer

My Fun Stuff:   Bionic Eyes Video  |  Bionic Hands Video  |||  All My Fun Stuff

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.

My Schedule…and A Little Extra:  Winner!  As you know my wife is a travel writer with a website called TravelMamas.com.  Periodically she posts contests on her site and she has two of them going right now.  One is a chance to win a $100 VISA gift card and the other is a chance to win 10 trips to Kissimmee, Florida land of Disney plus $25,000.  Need I say more?  |||  Yesterday I wrote a nice little Be Hers Valentine message.  Below is from Bernie, one of my loyal readers for him:

Be His:   If you have a boyfriend make sure he knows how much he means to you. If you have a husband let him know you would say yes all over again. If you have a son let him know how proud you are of him. If you have a single guy friend let him know how cool he is. Happy Valentine’s Day!

My Schedule:  I have one meeting in San Diego at 2:00p.

My Market Watch:  Pricing is worse today by about 0.125…basically we lost the price improvement we saw yesterday afternoon and pricing is back where it begun yesterday morning.    My Disclaimer

My Fun Stuff:   All My Fun Stuff