Doug Jones's (dougj) Blog

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Mortgage and Lending - Mortgage Magic
RECENT BLOG POSTS
There is a story about Colonel Tom Parker negotiating a performance engagement for Elvis Presley. A contract was signed and 24 hours before the performance schedule Colonel Parker called the booking agent and asked for the ashtray. The agent asked, "What ashtray?" In the contract was the statemen...
02/01/2016
Mid February the Bank of Japan will cut key interest rates that commercial banks hold to minus 0.1%. The Central European Bank recently cut further to a minus .3 %  Japan is concerned with deflation and the EU is working to get the Euro banks to become more assertive in their lending practices.  ...
01/29/2016
The end of the day.. What did you accomplish today? Not the deal you finished or the completed transaction - What did you accomplish today for continued success ? For success tomorrow?   If you ask yourself what did you accomplish and your answer is not immediate and does not answer what marketin...
01/28/2016
The number of mortgage applications in the U.S. rose sharply for the third straight week last week, as interest rates moved lower, industry data showed on Wednesday. In a report, the Mortgage Bankers Association said their mortgage market index, a measure of mortgage loan application volume, inc...
01/27/2016
FHA is back -   FHA originations were up 54% September 2105 over September 2014. In December FHA insured 22% of all loan originations. Why? The mortgage insurance premium was reduced. FHA lending had been in decline thru most of 2014 but volume tripled the month after the insurance premium was cu...
01/25/2016
Overseas Problems continue to drive rates down according  to Freddie Mac. Here is the quote from Sean Becketti, Freddie Mac's chief economists, "Long-term Treasury yields continue to drop, dragging mortgages rates down with them. Turbulence in overseas financial markets is generating a flight to ...
01/21/2016
This video can increase your sales and income ! 
12/22/2015
The question was, "If I buy a home how much will my taxes and insurance be?"Actually there could be expenses other than these that could be added to a mortgage loan;HOA - Home Owner Association. Many times there is an HOA in what does not look like a condo or town home. In Milpitas is a tract cal...
12/21/2015
The Fed rate hike does affect home equity lines immediately. Most equity lines are based on the Prime Rate and Prime jumped yesterday from 3.25% to 3.5%. So if you have a $100,000 equity line the interest for that loan was $270.83 per month and now that interest is $291.67 per month - an increase...
12/18/2015
The commission on an almost sale is zero. If you were in front of a client and did not make the sale chances are someone else either will or already has. The difference between a home run or a foul ball can be inches. In sports games are won or lost because of inches or close calls.The difference...
12/03/2015
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Mortgage Broker - NMLS 286668
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