Doug Jones's (dougj) Blog

Mortgage and Lending - Mortgage Magic



Years ago I wrote a loan and we took the property out of trust and the title company was to put the property back into trust after the loan funded. I found out a year later that the title company never put the property back into the trust. I was lucky because everyone remained healthy during the ...
Mortgage Fraud-- Don't Go there !   I continue to be surprised that there is still mortgage fraud. And, I am further surprised to note that California (my state) ranks number 2 among all states for the highest amount of risk fraud.   The areas of risk fraud are value, identify, occupancy, and emp...
Living in Silicon Valley is really special because most of my customers have their information on computer. I love the Engineers and Computer professionals because they seem to always have all the required documents. The loan transactions go so much more smoothly when everything is together and l...
Low interest rates are in the news again. I was interviewed by ABC News this week about interest rates and should people take advantage of them. The question, Can I refinance? To refinance in todays market the customer must qualify in the three box categories; credit score, debt to income ratio, ...
I just received an email from a Broker friend. He said that he referred a customer  to the free credit report site and the customer was charged $29.95. My Broker friend asked me what they should do. He enclosed the address of the web site and I found out that the friend went to a similar site, a ...
I have read that the average adult laughs 17 times each day and children laugh as much as 400 times a day. I have also read that laughter is good for health and can improve moods. Norman Cousins wrote a book called Anatomy of an Illness and in this book he gives the credit to his healing to Laugh...
When we use Social Security income to qualify a customer for the loan most times we gross up the income. From my experience most social security income is not taxed. If a person collects $1400 from social security each month we will allow 25% more income for qualification purposes. Therefore $140...

Doug Jones

Mortgage Broker - NMLS 286668
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