Doug Jones's (dougj) Blog

Mortgage and Lending - Mortgage Magic
I have been a lender since 1968 and yearn for the days when I could approve a loan, service the loan and honestly give good customer service.At one time I was "the man". I had complete approval authority and it was wonderful. On two occasions I took a loan application in the morning and funded th...
The words we use ! Amortized Mortgage - Amortize derives from Middle English and Anglo-French fromVulgar Latin admortire meaning "to kill"; related to the word murder. Mortgage from "law French"term used by English Lawyers in the Middle Ages meaning "Death Pledge".Wow.... well Reverse in the oppo...
The video was made for those who are listing their home. So many times for me the difficult sales transactions are caused because the listing Realtor did not do a complete job initially. I am sure there are some better ideas to be listed as the "top 5" things for Sellers to do when they list thei...
The current 1003 mortgage loan application has 5 pages. I argued for years that the loan application could be reduced to 1/2 of a page to get enough information to make a mortgage loan decision. The Powers certainly do not listen to me and the new loan application effective January 2018 will be n...
A long time ago I read that the definition of a CEO or President of a company was to "make it bigger and better". For a lot of companies that may be a true statement but I know at our own company we have no desire to make it bigger but are always looking for ways to make it better.When I perform ...
Just read in a magazine AO50 (Active Over 50) that 87% of adults over the age of 65 want to stay in their current home and community as they age. 70+% of adults between 50 and 64 years old want to age in their home. To me it makes sense to consider a Reverse Mortgage for many of these people but ...
October 2 - the reverse mortgage loan rules will change. From what I know so far the principal loan amount will be reduced; Mortgage Insurance will increase; and the line of credit will have a slower growth.We are submitting a loan today and we are told that the mortgage insurance will increase f...
There is so much to residential real estate; escrow, contracts, appraisals, loans, city and county restrictions, local customs, signing by computer, marketing, inspections of all type,  required record keeping and licensing. I could probably think of at least 10 more areas of knowledge but I have...
I am now doing more reverse mortages than any other of my business types (residential real estate sales and purchase and refinace mortgage)  The public still is grossly misinformed about the reverse mortage loan so my mission is to begin to publish reverse mortgage facts. Borrower obligationsA re...
Commissioned sales people probably have more goals than any other working group. I always have goals before me; sales numbers, health (OK -weight management), and other outside work accomplishments.This morning I was flooded with 'what if' thoughts. The thought that started the stream is the Bibl...

Doug Jones

Mortgage Broker - NMLS 286668
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