Doug Jones's (dougj) Blog

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Mortgage and Lending - Mortgage Magic

ARCHIVED BLOG POSTS

2011 

I have had more than one go thru with Weight Watchers and the difference between immediate success and slower success is: "Write it down".  When I did my tracking (Weight Watcher code for writing it down) I was always successful. The same goes for marketing. As a broker and a person who has to ge...
01/24/2011
There are many variables in pricing a loan. In this blog I want to simply compare one component with hard dollars. The situation: A $417,000 loan 4.875% and no points to the client with a credit score of 740 and a loan to value of 75%.. If that client has a score of 739- I know, it is only 1 poin...
01/21/2011
I was stunned this morning. A young lady came in my office and said that she was just turned down for health insurance and she has no medical issues! I say young. She is 61 but I am 62....some of us are young in body and spirit and perhpas not so in years. Anyway, she recentaly came to us as a lo...
01/20/2011
Fannie Mae has a matrix that they call LLPA; Loan-Level Price Adjustment. The LLPA is a grid that applies to loans delivered to Fannie Mae. LLPAs are assessed based upon certain eligibility or other loan features such as credit score, loan purpose, occupancy, number of units, product type,etc. He...
01/14/2011
.C.2.gg. Chapter 7 Bankruptcy A Chapter 7 bankruptcy (liquidation) does not disqualify a borrower from obtaining an FHA-insured mortgage, if at least two years have elapsed since the date of the discharge of the bankruptcy. During this time, the borrower must have   reestablished good credit, or ...
01/10/2011
The adage "an ounce of prevention is worth a pound of cure" is true in real estate. Many people live in their home for years and the home will begin to have problems but those problems arise so slowly that the homeowner many times never is aware of them. It is like putting a crab in cold water an...
01/06/2011
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Doug Jones

Mortgage Broker - NMLS 286668
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