Mike Tullio's (blueskyeguy) Blog

Mortgage and Lending - Guaranteed Rate NMLS# 2611 - NMLS #208860
For the longest time, I thought the credit scoring model was 2 parts magic, one part fairy dust, and three parts pi times the square root of the sum of the numbers in your social security number.  But now I know better; it's all magic. Black magic for a lot of folks these days.  But there are som...
"But I make $60,000 a year!"  No, according to your 2008 tax return, you make $12,000 a year and that $250,000 home in Sarasota might be just a bit out of your price range. It's a bitter pill to swallow but there's a lot of pill-popping going on these days and the self-employed borrowers are feel...
Shazaam!  Kaboom!  OK, enough pseudo-expletives.  It's time to revisit the Ten Commandments of Lending as I see them from the top of Mount Mortgage.  Wow, it's apparent I've had too much coffee this morning.  Let thee read on! II - HONOR THY FICO AND KEEP IT 620 THE SIN: I've pulled hundreds of c...
Last night, I had a vision of a burning bush.  OK, maybe it was just heartburn, but in any case, the fiery shrub spoke to me in an authoratative voice and told me that there was a new set of lending laws I must bring to the people.  They are wandering around the dry wilderness of delayed closings...
 If mortgage truth can be found in the sprawling vastness of Internet and tucked away in the blurbs of the Bradenton Herald, then surely it can be discovered in the life of my little daughter, Chloe Sky.  I suppose the "experts" would tell you that you need to be intimately acquainted with mortga...
 Our neighborhood held their annual "no-holds-barred" bargainmania called the GreyHawk Rummage Sale.  You know the drill.  Find your junk.  Tag your junk.  Sell your junk.  Get up at stupid-o-clock, start the IV drip of coffee, and hit the up button on your garage door to find a half dozen cars l...
Have you heard about Sen. Johnny Isakson, a Republican from Georgia (and a former real estate professional) who has introduced legislation that would beef up the tax credit that currently exists for first-time home buyers?  The news just emerged like a baby chick pecking its way out of its shell ...
 I got nothing else!  It's been some time since I've seen Richard Gere win Debra Winger over and prove to Louis Gossett Jr. that he wasn't some sniveling little punk.  It seems to me that finding a a good loan officer is equally as challenging these days.  We're a small company of 6 full-timers i...
 Seriously, I'm holding out until rates goes to 4%.  The newspaper and media experts all told me it would happen.  Heck, even the US Treasury Department talked about it. But here we are at 5.75% (in a matter of a few weeks, after being closer to 4.875% for months) and there's a pretty good chance...
 Imagine this.  You've toiled and traveled months, years even, and you feel as if you have come to the end of your rope.  You look to the heavens in outright desperation, and then the clouds part, and it appears.  The Holy Sale.  Angels sing. It seems like that is the tale of every mortgage consu...

Mike Tullio

VP of Mortgage Lending
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