Casa Trip Day 3 – The “Tourney” Begins

We teed it up Thursday Morning to begin the 3-day Stableford Tourney in Casa De Campo.  With 10 players on the trip, the top 4 players based on their final position in relation to their quota will get paid.  A player’s quota of points each day is 36 minus the player’s handicap.  My quota is 33 points daily.

The Teeth was severely over-booked by the resort and the round lasted almost 5 hours with long waits on each shot.  Most of the par 3’s had 2 or 3 groups backed up.  Even with that, I played well until the last hole – more on that later. Continue reading

Golf, Personal

A Little Wolf Before The Teeth of the Dog

The weather has been pretty cold and wet for the past couple of weeks and I haven’t gotten out to play until yesterday (Saturday, 1-19-19).img_2431  Mike, Dave, Steve and I braved cloudy and low 40’s temps to get in a game of Wolf before our trip to Casa de Campo (more on that later).

The range was bleak as our only practice had been at 24 X 7 Golf in Millville using the simulator.  The course was still a bit soggy and we had to use the mats to warm up.

It was our usual Wolf Game and I did a little better than last time shooting 75 with a double and 3 bogeys.  I was up 14X after the front nine and ended up 16X overall.  Putting is still an issue and I ran out of gas on the last two (2) holes – limping home with a double on 17 (water ball) and a bogey on 18 (missed 6 footer).  Click here for my scorecard if interested (Jeff’s Card)

My highlight of the day was number 4.  I went Wolf (doubling the value of that hole) based on what I thought was a good drive.  It was me against the other three (3) players and they doubled on the tee, knowing that my drive had caught the trees on the left and fell short – I should have paid more attention on the tee. Continue reading


How to Shoot 75 and Lose at Wolf

Yesterday was in the 50’s and partly sunny – a beautiful day at the Creek to play some golf with the boys. After starting the year slowly, I was looking forward to a better day of ball striking and putting; especially putting.  Things don’t always work out the way you plan them.

Putting remains an issue (37 putts for the day), but ball striking was pretty solid (12 of 14 fairways & 14 of 18 greens).  Here is my card if you are interested:  Jeff’s Card

However, in a game of Wolf that doesn’t always mean you’ll do well. Continue reading


I’ll Need to See That . . . Thanks.

Golf can be a tough game as the stakes get higher.  Putts that would be given in a simple $5 Nassau are suddenly met by silence from your opponents.  This phenomena was never more on display than Sunday at the Creek when I played a game of  Wolf with my boys – Dave, Steve and Mike.  Our Assistant Pro Ryan played along  . . . and here they are:img_2406

Continue reading


Frozen Fridays – DSGA @ Cripple Creek

Friday, January 4, 2018

The Delaware State Golf Association (DSGA) conducted a “Frozen Friday” tournament at my home club – Cripple Creek – and I decided to play.  Luckily, my friend and fellow member Alan Bloom also signed up for the tournament.  Unluckily, I also decided to forget that I’d ever putted on Cripple Creek’s greens! Continue reading


New Year’s Day Golf

We started the new year with decent golfing weather at the beach – high in the mid-60’s, but Cripple Creek was wet and soggy as we have had rain for several days.  I love to play golf on New Year’s Day and this year was no exception.

Heading out to the Creek around 9:30, I’d forgotten that one of our members has an annual couples event every January 1st.  Getting out in front of them was my most immediate goal so I headed off #10 to play the back 9.  Carrying a lighter bag with only 9 clubs, I decided to play 2 balls on each hole and take the worst of the two (2) scores.  The temp was warming up, but the wind was tricky.  Nine (9) holes later, I was 4 over par.  My birdies (2 of them) did not count because I had to take the worse score on my second ball. Continue reading


Mortgage Market in Review – March 20, 2017

Market Comment

Mortgage bond prices finished the week higher which pushed rates lower amid volatile trading. Rates started the week sharply higher in response to inflation and rate hike fears. The producer price index and core both were higher than expected. Inflation readings on the consumer side were tame as expected. The Fed raised rates Wednesday however mortgage rates improved after the meeting. Traders were worried about a hawkish statement and rapid rate increases sooner rather than later. The Fed tempered that sentiment for the short term and indicated future hikes will be data dependent. Weekly jobless claims were 241K versus the expected 242K. The Philadelphia Fed business conditions index was higher than expected @ 32.8. Mortgage interest rates finished the week better by approximately 1/4 of discount point despite some significant up and down trading.



Date &



FHFA House Price Index

Wednesday, March 22,
10:00 am, et

Up 0.6% Moderately Important. A measure of single family house prices. Weakness may lead to lower rates.
Existing Home Sales

Wednesday, March 22,
10:00 am, et


Low importance. An indication of mortgage credit demand. Significant weakness may lead to lower rates.
Weekly Jobless Claims

Thursday, March 23,
8:30 am, et


Important. An indication of employment. Higher claims may result in lower rates.
New Home Sales

Thursday, March 23,
10:00 am, et


Important. An indication of economic strength and credit demand. Weakness may lead to lower rates.
Durable Goods Orders

Friday, March 24,
8:30 am, et

Up 1.6%

Important. An indication of the demand for “big ticket” items. Weakness may lead to lower rates.

Fed Rate Hike

The Fed raised rates 25 basis points Wednesday March 15, 2017. More rate hikes are on the horizon. Just a few weeks ago the consensus predicted a total of 3 hikes this year and there wasn’t much of a chance of a hike in March. Now estimates are all over the place. Some point to three more hikes this year. Sentiment can change very quickly as we often see in the financial markets.

Yellen said she doesn’t think the Fed is too late on inflation. The March Fed statement noted, “The Committee expects that economic conditions will evolve in a manner that will warrant gradual increases in the federal funds rate; the federal funds rate is likely to remain, for some time, below levels that are expected to prevail in the longer run. However, the actual path of the federal funds rate will depend on the economic outlook as informed by incoming data.”

Inflation hawks like Richmond Fed President Lacker already believe the Fed needs to be more aggressive with rate hikes. Some centrists even see the possibility of faster rate hikes.

Core PCE Prices were up 1.7% the beginning of the year. This is the Fed’s preferred inflation indicator. Inflation in the Eurozone was 2% in January. This was the highest level in several years and a little higher than the European Central Bank’s target. The March producer price index showed a 0.3% increase versus the expected 0.1% increase. The core, which excludes volatile food and energy, rose 0.3% versus the expected 0.2% increase. What does that mean? Recent inflation readings continue to escalate. However, higher than expected inflation readings haven’t crossed over to the consumer side yet. The consumer price index recently rose 0.1% while core prices rose 0.2% which were both as expected. Inflation, real or perceived, is the enemy of fixed income investments. Inflation causes mortgage backed security prices to fall and mortgage interest rates to rise. Mortgage interest rates could rise throughout the year. Now is a great time to take advantage of low rates.

Copyright 2017. All Rights Reserved. Mortgage Market Information Services, Inc. The information contained herein is believed to be accurate, however no representation or warranties are written or implied.


Update on Fairway Independent Mortgage Corp.’s 2016 Performance

Fairway Independent Mortgage Corp. experienced a year-over-year expansion in its home-lending volume, servicing portfolio and employee count.

The Sun Prairie, Wisconsin-based organization serviced 20,969 residential loans with an unpaid principal balance of $4.420 billion as of Dec. 31, 2016.

Those details, along with other operational data, were presented as part of the Mortgage Daily Fourth Quarter 2016 Mortgage1396259-new-fairway-at-a-glance_v3-1 Origination Survey.

The servicing portfolio contracted from 21,277 loans for $4.481 billion three months earlier. But it grew from a year earlier, when 15,401 loans were serviced for $3.290 billion.

Third-party servicing accounted for $4.409 billion of the year-end 2016 total, while owned loans made up the remaining $0.011 billion.

Fairway originated 20,914 loans for $4.835 billion during the most-recent three-month period. Business slowed from 22,854 loans closed for $5.285 billion in the third quarter. But activity accelerated from 13,230 loans funded for $2.818 billion in the fourth-quarter 2015.

Fourth-quarter 2016 lending was comprised of $4.462 billion in retail originations, $0.300 billion in wholesale lending and $0.073 billion in correspondent acquisitions.

Full-year 2016 volume came to 77,663 units for $17.609 billion. Annual activity jumped from 52,035 loans originated for $11.152 billion in 2015.

Staffing at Fairway concluded last year at 4,312 employees. Headcount expanded from 4,115 people as of Sept. 30, 2016, and 3,039 employees on the payroll at the end of 2015.