home loan: Lock Watch for the Week of 5/21/2018 - 05/20/18 07:50 AM
Lock Watch for the Week of 5/21/2018
 
Volatility-O-Meter:
"The beatings will continue until morale improves."
 
Economicalendar (all times are Pacific):
Mon, 5/21:       Quiet. 
Tues, 5/22:       Richmond Fed Mfg Index (7am).  2-Yr Note Auction (10am). 
Weds, 5/23:     PMI Composite Flash (6:45am) and New Home Sales (7am).  5-Yr Note Auction (10am).  FOMC Minutes (11am).
Thurs, 5/24:    Jobless Claims and Existing Home Sales (7am).  7-Yr Note Auction (10am).   
Fri, 5/25:        Durable Goods (5:30am) and Consumer Sentiment (7am).
 
10-Year Treasury History
3.07%     Today
2.99%     One Week Ago
2.96%     One Month Ago
2.25%     One Year Ago
 
Liberace
Pop culture can be especially cruel in retrospect, and I think … (0 comments)

home loan: Should You DIY Your DTI? - 05/16/18 06:09 AM
Should You DIY Your DTI?
 
Just like the Julian and Gregorian calendars separate time between B.C. and A.D., the passage of the Dodd-Frank Wall Street Financial Reform Act separates the way mortgages have been qualified.  Loosely, before Christ (and in my opinion, Barney and Chris did hold themselves in quite high regard) many claimed you just needed to "fog a mirror" to get a home loan.  But in the crusades that followed the birth of the new law, most residential mortgages must follow the provisions of ability-to-repay or "ATR."  In other words, before Dodd-Frank, lenders had much greater leeway to approve or deny a … (2 comments)

home loan: Lock Watch for the Week of 5/14/2018 - 05/13/18 07:38 AM
Lock Watch for the Week of 5/14/2018
 
Volatility-O-Meter:
Relatively quiet week aside from a lot of Fed member speeches, but I am going to put oil prices on the radar too.  Heightened Middle East tension could spill over, through oil, into stock and bond markets.
 
Economicalendar (all times are Pacific):
Mon, 5/14:       Quiet. 
Tues, 5/15:       Retail Sales and Empire State Mfg Survey (5:30am) and Housing Market Index (7am).
Weds, 5/16:     Housing Starts (5:30am) and Industrial Production (6:15am)
Thurs, 5/17:    Jobless Claims and Philadelphia Fed Business Outlook Survey (5:30am).  
Fri, 5/18:        Quiet.
 
10-Year Treasury History
2.99%     Today
2.95%     One Week Ago
2.82%     One Month Ago
2.34%     One … (2 comments)

home loan: Lions and Tigers and PMI, Oh My! - 05/09/18 07:06 AM
Lions and Tigers and PMI, Oh My!
 
There are a number of things you should legitimately be afraid of in this life --- great white sharks, cigarette smoke, Scott Pruitt's EPA --- but private mortgage insurance (also known as "PMI") is not one of them.  We're going to cover the basics here and I'm going to work to dispel a lot of the misconceptions about PMI.  Most importantly, we're going to discuss why PMI on your next mortgage might be an entirely viable solution when you're seeking to purchase a home with less than a 20% down payment.
 
What is PMI?
Private mortgage insurance, … (6 comments)

home loan: Lock Watch for the Week of 5/07/2018 - 05/06/18 02:46 PM
Lock Watch for the Week of 5/07/2018
 
Volatility-O-Meter:
Inflation readings on Weds/Thurs plus auctions should keep the bond market active.
 
Economicalendar (all times are Pacific):
Mon, 5/7:       Quiet. 
Tues, 5/8:       JOLTS (7am) and 3-Yr Note Auction (10am).
Weds, 5/9:     PPI (5:30am) and 10-Yr Note Auction (10am)
Thurs, 5/10:    CPI and Jobless Claims (5:30am).  30-Yr Bond Auction (10am)
Fri, 5/11:        Import and Export Prices (5:30am) and Consumer Sentiment (7am).
 
10-Year Treasury History
2.95%     Today
2.95%     One Week Ago
2.89%     One Month Ago
2.39%     One Year Ago
 
Nazare', Portugal
I only tried to surf once and it was in the small fry off of Santa Monica.  But it doesn't take … (1 comments)

home loan: What's a Qualifying Payment on a Mortgage? - 05/02/18 06:45 AM
What's a Qualifying Payment on a Mortgage?
 
Qualifying.  It's always harder than it looks, right?  I've talked before about my erstwhile career as an Ironman triathlete and for those familiar with that sport, they'll confirm that qualifying for the race in Kona is way harder than they make it look on TV.  I suppose it's the same with getting into certain colleges, but since I struggled to get out of high school, I'm going to let someone else blog about that...
 
No, today, we're going to talk about qualifying for a mortgage and specifically we're going to cover the payment that we lenders use … (1 comments)

home loan: Lock Watch for the Week of 4/30/2018 - 04/28/18 06:55 PM
Lock Watch for the Week of 4/30/2018
 
Volatility-O-Meter:
Very high.  Really big week with a lot of reports and a Fed announcement (though no change to rates expected).
 
Economicalendar (all times are Pacific):
Mon, 4/30:       Personal Income and Outlays (5:30am), Chicago PMI (6:45am). 
Tues, 5/1:       PMI Mfg Index (6:45am) and ISM Mfg Index (7am).
Weds, 5/2:     ADP Employment (5:15am).  FOMC Meeting Announcement (11am). 
Thurs, 5/3:    International Trade and Jobless Claims (5:30am).  Factory Orders and ISM Non-Mfg Index (10am). 
Fri, 5/4:        Employment Situation (5:30am).
 
10-Year Treasury History
2.95%     Today
2.98%     One Week Ago
2.74%     One Month Ago
2.33%     One Year Ago
 
The Cat's in the Cradle
I grew … (2 comments)

home loan: Lock Watch for the Week of 4/23/2018 - 04/21/18 08:14 PM
Lock Watch for the Week of 4/23/2018
 
Volatility-O-Meter:
Busy week of reports and auctions.  GDP on Friday.
 
Economicalendar (all times are Pacific):
Mon, 4/23:       PMI Composite Flash (6:45am) and Existing Home Sales (7am). 
Tues, 4/24:       New Home Sales, Consumer Confidence and Richmond Fed Mfg Index (7am).  2-Yr Note Auction (10am).
Weds, 4/25:     5-Yr Note Auction (10am). 
Thurs, 4/26:    Durable Goods, International Trade in Goods and Jobless Claims (5:30am).  7-Yr Note Auction (10am). 
Fri, 4/27:        GDP (5:30am), Chicago PMI (6:45am) and Consumer Sentiment (7am).
 
10-Year Treasury History
2.98%     Today
2.85%     One Week Ago
2.82%     One Month Ago
2.28%     One Year Ago
 
R. Lee Ermey
Well, I … (1 comments)

home loan: Am I Too Old to Get a 30-Year Mortgage? - 04/18/18 07:26 AM
Am I Too Old to Get a 30-Year Mortgage?
 
Does your job ever, from time to time, force you to provide the answer to what you feel is a simple and obvious question?  Do you feel a twinge of embarrassment at your inability to contain slight laughter upon responding? 
 
If you can relate to this situation, I want to confess that I have, on more than one occasion, spoken with a mortgage prospect who, shall we say, would be "of retirement age." This person will ask, "Am I too old to get a mortgage?"  The logic, of course, is that if the likelihood the mortgage term would exceed … (2 comments)

home loan: Jumbo Mortgage with an H-4 Visa - 04/15/18 08:07 PM
Jumbo Mortgage with an H-4 Visa
 
"I pledge my head to clearer thinking,
my heart to greater loyalty,
my hands to larger service,
and my health to better living,
for my club, my community,
my country and my world."
 
Hold on a second!  That's the pledge for 4-H Club, Rob, and you're supposed to be discussing the H-4 visa here.  You've got it backwards.  Ah yes....sorry about that.
 
The H-4 visa.  This is a visa issued by the U.S. Citizenship and Immigration Services (USCIS) to immediate family members of H-1B visa holders.  These individuals are not US citizens or permanent resident aliens (green card holders) but "non-permanent resident aliens."  Make … (2 comments)

home loan: Lock Watch for the Week of 4/16/2018 - 04/14/18 08:55 PM
Lock Watch for the Week of 4/16/2018
 
Volatility-O-Meter:
Not a lot of key reports, so the market will likely take outside cues.
 
Economicalendar (all times are Pacific):
Mon, 4/16:       Retail Sales and Empire State Mfg Survey (5:30am). 
Tues, 4/17:       Housing Starts (5:30am) and Industrial Production (6:15am).
Weds, 4/18:     Quiet. 
Thurs, 4/19:    Jobless Claims and Philadelphia Fed Business Outlook Survey (5:30am). 
Fri, 4/20:        Quiet.
 
10-Year Treasury History
2.85%     Today
2.81%     One Week Ago
2.85%     One Month Ago
2.26%     One Year Ago
 
Dorothy Parker
Dorothy Parker had an unhappy childhood, little regard for her own writing prowess and an estate that she left to Martin Luther King … (1 comments)

home loan: Calling Up Your Asset Reserves - 04/11/18 07:12 AM
Calling Up Your Asset Reserves
 
Whether or not you believe that the United States presently has a "border crisis," I'm sure most of us take comfort in the fact that our country can rely on its reservists to step in where and when needed and lend additional support to our nation's active military.  And it's not too much unlike this in the lending industry when a borrower seeks to obtain some kinds of mortgages --- especially jumbo loans, which have amounts that exceeds the conforming loan limits in any area.
 
The active military of any loan qualification, in our example above, would be the … (7 comments)

home loan: Lock Watch for the Week of 4/9/2018 - 04/08/18 08:01 AM
Lock Watch for the Week of 4/9/2018
 
Volatility-O-Meter:
Sticking with "High."  We have a volatile stock market driven by fears of a trade war.  We have Facebook's CEO in front of Congress and we have potential military action in Syria.  Add that to auctions, PPI and CPI and it's enough for a thrill or two.
 
Economicalendar (all times are Pacific):
Mon, 4/9:       Quiet.
Tues, 4/10:       PPI (5:30am).  3-Yr Note Auction (10am).
Weds, 4/11:     CPI (5:30am).  10-Yr Note Auction (10am). 
Thurs, 4/12:    Jobless Claims and Import and Export Prices (5:30am). 30-Yr Bond Auction (10am)
Fri, 4/13:        Consumer Sentiment and JOLTS (7am).
 
10-Year Treasury History
2.81%  … (1 comments)

home loan: Bank Statement Jumbo Mortgage - 04/04/18 07:36 PM
Bank Statement Jumbo Mortgage
 
It is no secret that the self-employed have their share of challenges when it comes to getting a home loan.  And why wouldn't they?  On one hand, their tax professionals spend hours maximizing their deductions and helping them "write off" every allowable expense and on the other hand, their mortgage loan advisor tells them they have to show more income in order to qualify.
 
The difference of intentions is like two trains moving in opposite directions...
 
Yet, there may be a solution for some of these borrowers.  On both the purchase and refinance side, we have a jumbo mortgage program that … (1 comments)

home loan: Lock Watch for the Week of 4/2/2018 - 03/31/18 08:27 AM
Lock Watch for the Week of 4/2/2018
 
Volatility-O-Meter:
Mid to High.  Jobs report on Friday --- watch out for indications of wage growth.
 
Economicalendar (all times are Pacific):
Mon, 4/2:       PMI Mfg Index (6:45am).  ISM Mfg Index and Construction Spending (10am).
Tues, 4/3:       Quiet.
Weds, 4/4:     ADP Employment (5:15am), Factory Orders and ISM Non-Mfg Index (7am). 
Thurs, 4/5:    Jobless Claims and International Trade (5:30am).
Fri, 4/6:        Employment situation (5:30am).
 
10-Year Treasury History
2.76%     Today
2.85%     One Week Ago
2.86%     One Month Ago
2.35%     One Year Ago
 
Mr. T
On or shortly after May 28, 1982, I remember being dropped off at either Yorktown or Oakbrook to … (0 comments)

home loan: Be A.G.G.R.E.S.S.I.V.E. with a 5% Down Jumbo Mortgage - 03/29/18 07:39 AM
Be A.G.G.R.E.S.S.I.V.E. with a 5% Down Jumbo Mortgage
 
I never so much as played a single down of varsity football, but that didn't help me escape the Friday night lights, the pep rallies and late-game chants of the Tigerettes:
 
Be aggressive!  B.E. aggressive!  B.E. A.G.G. --- R.E.S.S.I.V.E!
 
Yes, when the game was fiercely competitive, when it seemed the team was down to its last drive, the attitude of everyone needed to change.  The cheerleaders set the gears in motion.  Gone were the soft-touch tactics --- the pom poms needed to come off.  It was time to be aggressive.  We're seeing that it's no different … (3 comments)

home loan: Lock Watch for the Week of 3/26/2018 - 03/25/18 05:00 PM
Lock Watch for the Week of 3/26/2018
 
Volatility-O-Meter:
Very high. Short week, GDP, trade war, auctions, locusts...
 
Economicalendar (all times are Pacific):
Mon, 3/26:       Dallas Fed Mfg Survey (7:30am).  2-Yr Note Auction (10am).
Tues, 3/27:       Consumer Confidence and Richmond Fed Mfg Index (7am). 5-Yr Note Auction (10am).
Weds, 3/28:     GDP and International Trade in Goods (5:30am), Pending Home Sales (7am).  7-Yr Note Auction (10am). 
Thurs, 3/29:    Jobless Claims and Personal Income and Outlays (5:30am), Chicago PMI (6:45am) and Consumer Sentiment (7am).  Market closes early.
Fri, 3/30:         Markets closed.
 
10-Year Treasury History
2.84%     Today
2.85%     One Week Ago
2.86%     One Month Ago
2.38%    … (0 comments)

home loan: Lock Watch for the Week of 3/19/2018 - 03/18/18 09:16 PM
Lock Watch for the Week of 3/19/2018
 
Volatility-O-Meter:  
Mid-to-high. Fed meeting this week, but universal expectation of .25% rate increase).  Not a whole lot of reports otherwise, but Washington chaos is always possible as well. 
 
Economicalendar (all times are Pacific):
Mon, 3/19:       Quiet.
Tues, 3/20:       Quiet.
Weds, 3/21:     Existing home sales (7am) and FOMC Announcement (11am).
Thurs, 3/22:    Jobless Claims (5:30am) and PMI Composite Flash (6:45am).
Fri, 3/23:         Durable Goods (5:30am).
 
10-Year Treasury History
2.87%     Today
2.88%     One Week Ago
2.88%     One Month Ago
2.47%     One Year Ago
 
Aerial Boundaries
Michael Hedges was an acoustic guitarist who, back in the early '80's, released two … (3 comments)

home loan: Paying Your Marin County Property Tax Bill - 03/17/18 07:34 PM
Paying Your Marin County Property Tax Bill
 
As I write this in March of 2018, my very own Marin County property tax bills sit alongside my computer on my desk, awaiting payment of their second installment.  No doubt with the same procrastination exhibited by most fellow Marin County property owners, I still thought it was a ripe opportunity to share some basics on how, when and where to pay our real estate taxes and at the same time avoid the consequences of late payments.
 
Property Tax Bill Information and Due Dates
Secured property tax bills are mailed in October and payable in two installments:
First installment due date:  November … (1 comments)

home loan: 1031 Exchange Jumbo Mortgage - 03/13/18 08:17 AM
1031 Exchange Jumbo Mortgage
 
If, indeed, there are two certainties in life, death and taxes, then real estate investors just might have found their Juan Ponce de Leon in the 1031 exchange, which allows them to defer capital gains taxes on the sale of a rental property so long as they reinvest the proceeds in a "like-kind" purchase.  Spared the death of writing a large check to the IRS, they can find the fountain of youth in a new investment --- always with the proceeds of the previous sale and sometimes with the addition of a new jumbo mortgage.  Since our fabled 1031 … (1 comments)

 
Rob Spinosa, Vice President of Mortgage Lending, Marin County (Guaranteed Rate, Marin County, CA) Rainmaker large

Rob Spinosa

Vice President of Mortgage Lending, Marin County

San Anselmo, CA

More about me…

Guaranteed Rate, Marin County, CA

Address: 324 Sir Francis Drake Blvd., San Anselmo, CA, 94960

Office: (415) 367-5959

Mobile: (415) 367-5959

Email Me

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