Mortgage Street Smarts

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Mortgage and Lending - AmeriFirst Financial Inc, San Diego, CA - NMLS 259027
From a young age, we learn the difference between BOOK SMARTS (knowledge learned in the school classrooms) and STREET SMARTS (what we learn in the "Real World"...often the hard way). There are no shortage of websites providing the BOOK SMARTS of the Mortgage Industry, but there are very few resources a Consumer has to learn about the STREET SMARTS of the Mortgage Industry. Please feel free to SUBSCRIBE (for free) to this ongoing source of truthful knowledge (without the worry of a "sales spin" buried somewhere in the message). After all, we tend to make better decisions when armed with the facts...the purpose of this blog is to provide FACTS by teaching you the MORTGAGE STREET SMARTS necessary to run your business (if you are a Real Estate Professional) or to make the best decisions for your family (if you are a Consumer). Enjoy!



What is the difference between Mortgage Pre-Qualification and Mortgage Pre-Approval (and what is a Mortgage Cross-Approval)?  These terms get tossed around frequently (and are often used improperly) by Real Estate Agents, Buyers & Sellers. The following explanation has been written in an attempt ...
This morning, Weekly Jobless Claims fell to 264K, which was below the consensus of 270K.  The DOW is currently down about 50 points..Compared to Wednesday's closing, the market has opened with a 0.125 - 0.250  IMPROVEMENT to the Points/Credits associated with any given interest rate option.This d...
After gains on Friday, Mortgage Backed Securities have moved a little lower this morning. No economic data will be released today. Federal Chair Yellen will be speaking later this morning.Compared to Wednesday's closing, the market has opened with a 0.125  worsening to the Points/Credits associat...
Mortgage Backed Securities are up thus far today after declines yesterday.  The European Central Bank (ECB) made no change in policy, as expected. The ECB expects to leave accommodative monetary policy in place for quite a while.  In the USA, the ADP estimate for private sector job gains in May w...

Jason E. Gordon

Sr. Loan Officer, CMPS, CDLP, CDRE, RCS-D, CDPE
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