Phil Grossfield's Blog

My Schedule…and A Little Extra:  War fascinates me.  When I was young I read books about war…my favorite was a series of letters written by soldiers in war…I can’t for the life of me remember the title and a Google search came up empty.  I also loved the book Fortunate Son, an autobiography about a Vietnam vet.  And then there is the mystical stories of war such as Star Wars and the 2004 science fiction TV series Battlestar Galactica just to name a couple.  My favorite books and movie combination of all time is the Lord of the Rings trilogy which is another war story about good versus evil.  But Schindler’s List and Saving Private Ryan both haunt me to my core…they are very real to me…they get down into my belly.  I guess I read and watch these stories because I wonder how I would act under similar circumstances.  I wonder if I would be brave…if I would throw myself on a bomb to save others…if I would be capable of taking another life in defense of my own.  I’d like to think I would be brave…I’d like to think I would be heroic.  But I’ll never know what real heroes feel…I can’t possibly begin to understand the emotional and physical sacrifice.  And so I use books and movies to try and understand the sacrifices our veterans endure(d).  I am ever so grateful and respectful of those that serve(d).  Thank you for your courage and your sacrifice.

My Market Watch:  The Bond Market is closed in honor of Veteran’s Day.  But stocks are trading in a positive direction…it’s not out of the question for our Capital Markets department to pull some gains away.  Keep an eye on things and if you feel the stock market is moving higher, don’t be surprised to see a mid-day rate/price change for the worse.   My Disclaimer

My Job Opportunities: |1| Interbank is looking for Senior Underwriters working remotely from home.  There are 15 positions available!  |2| One of my brokers in Laguna Nigel is searching for a Processing Manager…  Please email me if you know anyone looking for an opportunity.

My Schedule: I’m working from home.

My Schedule…and A Little Extra: |1| Read my Market watch below. |2| I’m growing a moustache for cancer research. Again, I’m not doing it to feel more manly…that would not be possible. Click here to donate…I’ll take anything…$5…anything! http://mobro.co/philgrossfield.
|3| Speak and Ye Shall Be Heard. As I mentioned yesterday I received many comments about my posts, You Must Accept and Take 2 – You Must Accept, where I insisted we must work together as a nation. I didn’t list them all but here are a couple snippets for your reading enjoyment…the first is my favorite:

From Abbey, a Los Angeles Broker: I like your comments about the election – totally agree!

From Don, a San Diego Broker: “The problem is that Obama and his cohorts don’t know the meaning of the word “compromise.” We don’t have to accept Obama, just tolerate him for 4 long years.”

From Ben, a San Diego Broker: “I thought long and hard about responding to your email yesterday but decided, like you’re emphasizing below, to accept the outcome and focus on what I can control. But after your Take 2 email, I feel I need to respond and point out that you’re missing a rather important fact and you need to understand this fact since you feel it’s your place to tell people how to react to the election. Fighting for our beliefs and principles is not wasted energy, it’s what shaped the founding of this great nation. Lying down and not challenging our leaders’ agendas is against everything this nation was founded on. Yes, we need to accept the outcome of the election but it doesn’t mean we give up on holding our elected officials accountable to hear and act on the voice of the people. Your football analogy has holes all over the place. A team is not made up of just a coach and players. A true team (nation) is made up the coach (president), his assistant coaches and coordinators (elected officials), and the players (citizens). If the coach decides he wants to just run the ball on every play, no passing at all, and he does this against the advice of many of his assistant coaches/coordinators/players and under this strategy CONTINUES TO LOSE GAMES OVER AND OVER AGAIN (failing economy, skyrocketing deficit, weakening nation) eventually the assistant coaches/coordinators/citizens are going to push back and challenge the coaches strategies. [Obama] has not been a very good coach and his record shows that. A true leader unites instead of divides the team. A true leader recognizes the importance of listening to his WHOLE team instead of focusing solely on his agenda. A true leader recognizes the gifts and merits of ALL his coaches/coordinators/players and does his best to utilize and maximize them for the good of the team. You’re right, we need to cooperate and have a collective effort if we are to win. Our President’s actions will continue to be challenged until he learns to cooperate and compromise instead of blame and complain. America will continue to be the best nation on earth ONLY IF we direct our energy at making our voices heard to our elected officials so they can implement the will of the people. Government is created by the people and for the people. We do not lie down and let the Government tell us how it’s going to be. We speak up and challenge them so they know they are accountable to every citizen, not just to those who voted them into office. Yes, negative energy won’t help. But there are two sides to every coin and [that] side of the aisle needs to understand that their actions impact the nation’s reactions. [Obama] needs to work better and harder at unifying the team and we will continue to fight until he adapts the true role of a leader/coach. Recognize that accountability.”

From Fran, an Irvine Broker: You hit it on the head Phil! Even though I voted for Romney, we have to unite. If Romney had won, he would be calling for unity just like Obama is now. We have to work together to win. I remember when Bush won the second term and my democratic friends were bitching and complaining – it’s the same thing now. I like your words – please keep them coming!

From Bernie, a San Diego Broker: I liked your second email…we do need to work together. We need every day to be July 4th as the sun has set and we all sit and watch the fireworks together as Americans united under a brilliant sky. – ok a bit cliché but somehow we need to get there….but maybe this rose-colored world I just painted is a stepping point….

From Mike, a Huntington Beach Broker: My thought is my children and the HUGE sacrifices and potential hardships they are going to have to endure. That’s what people don’t understand because people are so wrapped up in their own little worlds and always thinking about them and what’s good for them right now. Hell, Obama is and has been great for my business minus Dodd-Frank if you look back 4 years BUT that isn’t the point-it’s about the future. My kids will be saddled with a lower and impoverished living standards and higher taxes for years to come. Look across the pond-it’s happening right now.

From Abbey, a Los Angeles Broker: You are totally correct about Obama. I should have taken the WHOLE day off to vent and repair but at least ½ helped a lot. The main issue I have with Obama is that he is one of the most un empathetic, narcissistic, arrogant and divisive presidents ever. He is proof that this country is failing. The fact that he was elected again it proof that we are nearing the end of our democracy. Just like the end of Rome when there were carnivals for all we are nearing the same. The non-producers out there get free phones, food, welfare, healthcare and more. Illegal [immigrants] get drivers’ licenses and financed education as well as very little resistance to coming here. Our system will not last long in this environment, take a look at the deficit. Worse is that elections going forward will be the same…. More liberals will take power. Now with that said… yes let’s just crank out our part in this world and make the US work.. moving on with him. First loan with you was great by the way!

My Market Watch: Rates/pricing is the same as yesterday after the price improvement…this is a very good thing. I anticipated that traders would have sold off to realize gains. But apparently that is either not the case or they feel there is still upside ahead. I AM NOT SO OPTIMISTIC. IF IT WERE ME, I’D TAKE THE MONEY AND RUN. If you are considering locking…you might want to pull the trigger. My Disclaimer

My Job Opportunities: |1| Interbank is looking for Senior Underwriters working remotely from home. There are 15 positions available! |2| One of my brokers in Laguna Nigel is searching for a Processing Manager… Please email me if you know anyone looking for an opportunity.

My Schedule: I’m working from home this morning and out and about this afternoon but available pretty much all day….

My Schedule…and A Little Extra:  |1|  Take 2 – YOU MUST ACCEPT IT.  Yesterday my post was a plea for acceptance that Obama was reelected and more importantly that all political leaders and citizens work together.  I used the analogy that a coach needs all the players on the team working towards the same goal in order to be successful…anything less results in missing the playoffs.  I received a fair amount of commentary…some fantastic…but some rather spicy…some rather hateful.  Look, you’re not getting the point of yesterday’s post…you have to put your hatred aside…you have to tone down the recipe so it’s not so spicy.  You must!  Whether you and I like it or not, Obama is the President of United States for the next four years.  He has an agenda…we elected him to play out the agenda…WE THE PEOPLE elected him.  Stop crying that Romney lost the election…its wasted energy.  Instead, focus on the future…a certain future that is dark and cold and abysmal without cooperation and collective effort.  Some are already planning for the 2016 election…they can’t wait for another crack at it…but that does us absolutely no good today…now.  Direct your energy for the greater good…now!  That’s all I have to say about that.  |2|  I’m growing a moustache for cancer research.  Again, I’m not doing it to feel more manly…that would not be possible. Click here to donate…I’ll take anything…$5…anything!  http://mobro.co/philgrossfield.

My Market Watch:  Pricing is unchanged from yesterday.  There’s a big auction today AND IF IT DOES WELL BONDS COULD SPARK UP AND RATES/PRICING COULD GET BETTER.  Of course, the opposite holds true for a poor showing…but based on what I’m reading I’ll bet on a good auction…I think we may see an improvement later….  On a different note, the Housing Survey for 2011 was released.  Per Rob Chrisman’s email, home should continue to rise for the next 5 years at about 3-4% increase.  If so, housing prices would be back to 2006 levels in year 2021.  Hmmm.  You can check out the information here:  American Housing Survey (AHS).  My Disclaimer

My Job Opportunities: |1| Interbank is looking for Senior Underwriters working remotely from home.  There are 15 positions available!  |2| One of my brokers in Laguna Nigel is searching for a Processing Manager…  Please email me if you know anyone looking for an opportunity.

My Schedule: I’m working from home this morning and out and about this afternoon but available pretty much all day….

My Schedule…and A Little Extra:  |1|  It’s an eight year term, not 4-years.  The intent of this term is to give the President eight years to get the job done and get/keep America on track.  The reason we have a mid-term election is to provide an opportunity to remove the President only if things are going horribly.  Although many argued this was the case, the President made a compelling-enough argument to be reelected.  Whatever your political affiliation is, and whatever you felt was the better course for the next four years, you now must accept the outcome.  I pray our political leaders understand this.  They must work together within the President’s plan.  With great emphasis, it would be counter-productive to block the President’s focus.  Let me put it this way, if half a football team does not believe in the coach, can the team be successful?  However, if they give the coach a chance to succeed, then it’s very possible things might come together.  It’s only halfway through the season…the goal is to make the playoffs and win it all.  One things is certain, if half the team works against the coach, everyone will fail, right?  So, let’s do our best to work together and give the game plan a chance to work.  Don’t work against the President simply because your guy didn’t win.  We had a fair election…an election driven on real political issues…an election free from fraudulent accusations…an electoral process free from recounts or allegations of tampering…an election with two hyper-intelligent , thoughtful and passionate men.  The system worked…now let’s make the very best of it.  Your thoughts?  |2|  I’m growing a moustache for cancer research.  Again, I’m not doing it to feel more manly…that would not be possible.  Click here to donate…I’ll take anything…$5…anything!  http://mobro.co/philgrossfield.

My Market Watch:  Bonds love President Obama.  Why?  Because it’s a good indication the government will continue to buy bonds.  Or, you could conclude traders believe Obama being reelected is not a good economic indicator…in this case traders would pull money out of the stock market and put it elsewhere, like Bonds.  Hello!  It’s my opinion gains will be taken by investors early.  That is, with the pricing so improved, traders will sell them off sooner than later…we might even see a sell-off this afternoon.  Take what you can…give nothing back!  My Disclaimer

My Job Opportunities:  |1| Interbank is looking for Senior Underwriters working remotely from home.  There are 15 positions available!  |2| One of my brokers in Laguna Nigel is searching for a Processing Manager…  Please email me if you know anyone looking for an opportunity.

My Schedule: I’m working from home early this morning and out and about this afternoon but available pretty much all day….

My Schedule…and A Little Extra:  |1|  Rip the campaign signs out of your neighbors yard!  Or better yet, hang a chair from a tree!  Last week a Minnesota couple hung from their tree a chair on a noose with a bayonet stabbed through it as a political statement against the President.  Nice, eh?  Obviously racially motivated, the empty chair represented Obama in reference to Clint Eastwood’s speech during the convention – if you recall, Eastwood had an imaginary conversation with the president.  I realize these people are nuts, and most of us have a healthy relationship with the election.  But people do rip the campaign signs out of their neighbor’s yards…neighbors essentially fighting each other.  And then I focus my attention to the events of last week in New York and New Jersey where neighbors are literally sheltering each other after the hurricane.  In times of need we come together as a community and even a nation.  Is it fair to call an election a time of need?  Are we coming together?  |2|  I’m growing a moustache.  No, I’m not doing it to feel more manly…that would not be possible.  I’m doing it because my best friend and I are raising money for prostate and testicular cancer initiatives.  My father had prostate cancer and that means I’ll probably get it too.  Also, I have a couple friends that survived testicular cancer.  So, I am growing a moustache for this month and asking for donations on my Movember Mo Bro page:  http://mobro.co/philgrossfield.  Throughout this month you will see me reaching out to you with updates on my moustache.  I’ll be sending out another email shortly with my Day 1 and Day 5 update…aren’t you excited?!

My Market Watch:  Last week the Jobs Report gave bonds a nice push and today bonds are holding on.  My Disclaimer

My Job Opportunities:  |1| Interbank is looking for Senior Underwriters working remotely from home.  There are 15 positions available!   |2| One of my brokers in Laguna Nigel is searching for a Processing Manager…  Please email me if you know anyone looking for an opportunity.

My Schedule: My battery on my car died this morning which has put me a little more behind than usual on a Monday morning….I need to get it replaced.  I will be available sporadically throughout the day….

My Schedule…and A Little Extra:  |1|  “Nineteen Piece of Candy!” my son shouted at the top of his sick-asthma-induced lungs.  Then he counted them again.  He was feeling rather proud of himself even though we had to cut short his trick-or-treating…he was exhausted and coughing and asked to go home.  All in all, I think he was pleased until……my daughter came home with enough candy to satisfy Augustus Gloop from the Willy Wonka & The Chocolate Factory movie.  She was still counting over a hundred when Leo asked me, “is that a lot more than mine Daddy?”  I lied.  |2|  Our new CIC procedure was working smoothly yesterday with some exceptions.  If you were lucky enough to fall into the exception category, please keep me in the loop so I may assist.  In this process I am also learning where the quirks are and how to get around them.  Also, I heard no complaints or issues thus far with our new online procedures for Lock Extensions, Relocks, and Float Downs.

My Job Opportunities: |1| Interbank is looking for Senior Underwriters working remotely from home.  There are 15 positions available!  |2| One of my brokers in Laguna Nigel is searching for a Processing Manager…  Please email me if you know anyone looking for an opportunity.

My Schedule: I have a doctor appointment this morning at 10:30a and otherwise available until 3p.  Then I have a conference call and will be difficult to reach thereafter….

My Schedule…and A Little Extra:  |1|  Halloween is my favorite holiday…today I will be attending my daughter’s school Halloween party and of course there are many festivities planned for later in the early evening.  Unfortunately my 4-year old is extremely sick and that will be a little challenging but we’ll find a way for him to enjoy the day too.  |2|  Again, my thoughts and prayers to those on the east coast.  This morning’s news is reporting 57 people dead and over $20 billion in damages…unreal.  Again, sending concentrated good thoughts and positive energy their way….

My Job Opportunities: |1| Interbank is looking for senior underwriters working remotely from home.  There are 15 positions available!  |2| One of my brokers in Laguna Nigel is searching for a Processing Manager…  Please email me if you know anyone looking for an opportunity.

My Schedule: Sporadic coverage with the holiday…this morning I will be available around 10:30a and then most of the day.  This afternoon I will be ending the day early for the holiday festivities….

My Procedures:  For comprehensive guidance on how to submit, lock, order your appraisal, etc.:  Phil’s Help on Procedures.  For my guideline guidance:  Phil’s Guideline Guidance.

My thoughts and prayers…sending concentrated good thoughts and positive energy your way….

My Schedule…and A Little Extra:  |1| My thoughts and prayers to anyone in the wake of the storm…the pictures of Hurricane Sandy are frightening but apparently it’s a slow moving category 1 hurricane.  |2|  One of my brokers in Laguna Nigel is searching for a Processing Manager…if you know anyone looking for an opportunity, please let me know…thanks.  |3|  Halloween…bring it on baby!  We went to Bates Nut Farm yesterday which has become a tradition in our house.  The kids run through the maze to find the stations and get a stamp!  Go down the slide!  Get some ice cream!  Pick pumpkins in the huge pumpkin patch!  I love Bates Nut Farm.  Afterwards we came home and me and the kids cleaned out and carved Jack O’ lanterns.  I really enjoy doing it and since my kids are pretty young I end up doing most the work.  It’s all good my friends!

My Schedule: I’m in a webinar for our new CIC automated system which is launching this week.  I’ll be available the rest of the morning and early afternoon.  I will be unavailable after 4p today.

My Market Watch:  Bonds opened better today as Hurricane Sandy bears down on the east coast.  The stock market is closing down early today…might be closed now….  My Disclaimer

My Procedures:  For comprehensive guidance on how to submit, go to:  My Help on Procedures.

My Schedule…and A Little Extra:  |1| The Vikings looked pathetic last night.  I realize this energy I’m putting into the universe is not positive nor healthy…but come on!  I was brought up to root for my team…and they sucked the big one!  Being a hard-core Vikings fan can be brutally painful.  Last night I was in agony.  What an awful performance both defensively and offensively.  The best part of our game was our kicking and the most entertaining part of the game was when Jared Allen got mad.  Ponder looked like a frightened puppy.  His decision making reminded me of a horror film where the guy goes down to the lake to investigate the weird sounds despite the creepy music playing in the background…DON’T DO IT…BAD IDEA!…DON’T THROW THE BALL INTO 5 DEFENDERS WHILE RUNNING OFF BALANCE INTO THE OPPOSITE DIRECTION!  One bad decision after another…just awful.  Again, I realize this isn’t great energy this morning so I need to shake it off and think about something more positive.  Hey it’s almost Halloween!  Whohoooo!  |2|   From yesterday, I could easily be you.  Don’t believe me?  Watch this:  Amazing Mind Reader Reveals His Gift.

My Contests:  My wife the Travel Mama is running a contest for a free hotel.  Radisson is giving away a free night stay to one to celebrate its 50th anniversary.  Not many have entered yet so there is a very good chance you could win…click here:  Free Hotel Stay – Radisson.

My Procedures:  For comprehensive guidance on how to submit, go to:  My Help on Procedures.

My Disclosures Heads-Up:  We have a fairly extensive list of required disclosures…this eliminates potential lawsuits and as such allows us to be more competitive.  We accept your Broker’s disclosures (i.e. from Point or Encompass), except for the Anti-Steering Disclosure.  If you can’t find the disclosure below in Point or Encompass, then find it on the Forms Page.

1. *Broker Fee Agreement (distinguishes lender paid or borrower paid) – IMPORTANT – Receiving will cancel your submission if the Broker Fee Agreement is not dated within 3 days of the GFE…if the file gets cancelled you will have to wait the 10 days before you can resubmit
2. *Servicing Disclosure Statement – IMPORTANT – Receiving will cancel your submission if the Servicing Disclosure Statement is not dated within 3 days of the GFE…if the file gets cancelled you will have to wait the 10 days before you can resubmit

My Market Watch:  Bonds opened better today and rates/pricing are better as a result.  My Disclaimer

My Schedule: Behind the computer most of the day….