real estate: Lock Watch for the Week of 7/2/2018 - 07/01/18 08:39 AM
Lock Watch for the Week of 7/2/2018
While it may be a holiday week, there are a number of big reports, including employment on Friday.  Short staffing at trading desks could heighten bond market volatility.
Economicalendar (all times are Pacific):
Mon, 7/2:       PMI Manufacturing Index (6:45am), ISM Manufacturing (7am) and Construction Spending (7am). 
Tues, 7/3:       Factory Orders (7am).   
Weds, 7/4:     Independence Day.
Thurs, 7/5:    ADP Employment (5:15am), Jobless Claims (5:30am), ISM Non-Mfg Index (7am).  FOMC Minutes (11am).
Fri, 7/6:        Employment Situation and International Trade (5:30am).
10-Year Treasury History
2.85%     Today's Open
2.89%     One Week Ago
2.94%     One Month Ago
2.35%     One … (0 comments)

real estate: Lock Watch for the Week of 6/25/2018 - 06/24/18 06:18 AM
Lock Watch for the Week of 6/25/2018
There is enough economic data on the calendar to keep things interesting, but escalating trade war actions may be the driver (again...).
Economicalendar (all times are Pacific):
Mon, 6/25:       Chicago Fed National Activity Index (5:30am) and New Home Sales (7am). 
Tues, 6/26:       S&P/Case-Shiller Home Price Index (6am), Consumer Confidence (7am) and 2-Yr Note Auction (10am).   
Weds, 6/27:     Durable Goods (5:30am) and Pending Home Sales (7am). 5-Yr Note Auction (10am)
Thurs, 6/28:    Jobless Claims and GDP revision (5:30am).  7-Yr Note Auction (10am)
Fri, 6/29:        Core PCE (5:30am), Chicago PMI (6:45am) and Consumer Sentiment (7am).
10-Year Treasury History
2.89%     Today's Open
2.92%     One Week … (0 comments)

real estate: VA Jumbo Mortgages in California - 06/05/18 07:51 AM
VA Jumbo Mortgages in California
I marked this year's Memorial Day with a weekend full of kids' activities --- my son's t-ball season wrapped up and then there were about a half-dozen birthday parties that followed. Fairly typical, I am told, for parents these days. But quick on the heels of the three-day weekend, I realized the anniversary of D-Day was coming up and that just a couple of years ago I had the good fortune to visit the beaches of Normandy, France. The two occasions together got me thinking about our nation's veterans and how our industry helps them use one of … (0 comments)

real estate: Lock Watch for the Week of 5/21/2018 - 05/20/18 07:50 AM
Lock Watch for the Week of 5/21/2018
"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
Pop culture can be especially cruel in retrospect, and I think … (0 comments)

real estate: 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)

real estate: 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)

real estate: 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)

real estate: How High Can You Get with 10% Down? - 03/06/18 08:56 PM
How High Can You Get with 10% Down?
First and foremost, let me declare emphatically that I would pass any drug test at any time.  You show up at Casa Spinosa at 4am in the morning, drag me out into your unmarked van, make me tinkle in a cup and take a lock of my graying hair, and you're still not going to find a trace of anything illegal.  Nothing.  Nada.  But I don't know why I have to defend myself when that's not even close to what this post is about...
No, instead, I want to tell you about our 10% down … (3 comments)

real estate: Lock Watch for the Week of 3/5/2018 - 03/03/18 09:28 PM
Lock Watch for the Week of 3/5/2018
High.  No surprise here.  There are enough reports below to make things interesting even if trade wars weren't so easy to win.  
Economicalendar (all times are Pacific):
Mon, 3/5:       ISM Non-Mfg Index (7am).
Tues, 3/6:       Factory Orders (7am.
Weds, 3/7:     ADP Employment (5:15am), International Trade (5:30am) and Productivity and Costs (5:30am).
Thurs, 3/8:    Jobless Claims (5:30am).
Fri, 3/9:         Employment Situation (5:30am).
10-Year Treasury History
2.84%     Today
2.86%     One Week Ago
2.77%     One Month Ago
2.49%     One Year Ago
Fraunces Tavern
In December of 1783, George Washington bid his troops farewell at the Fraunces Tavern in lower … (1 comments)

real estate: Niche Jumbo Mortgage in California - 02/28/18 07:37 AM
Niche Jumbo Mortgage in California
Not all mortgage scenarios in California --- and especially in the high-cost areas we often see in the San Francisco Bay Area, Silicon Valley and in the greater Los Angeles environs --- fit squarely in "the box."  "The Box" is the narrow definition of what it takes to qualify these days, and for a jumbo mortgage that falls outside of the parameters of a conforming or "government," loan, such as FHA or VA.  When you find yourself outside and looking in, sometimes the best solution is a "niche" mortgage program. 
Now if visions of subprime loans and sky-high rates … (1 comments)

real estate: Lock Watch for the Week of 2/26/2018 - 02/25/18 12:37 PM
Lock Watch for the Week of 2/26/2018
Mid.  I expect the GDP report on Weds to be the week's driver.  Otherwise, we remain in a volatile environment for both stocks and bonds, possibly exacerbated by unpredictability in the political arena.
All times are Pacific:
Mon, 2/26:       New Home Sales (7am) and Dallas Fed Mfg Survey (7:30am).
Tues, 2/27:       Durable Goods (5:30am) and Consumer Confidence (7am).
Weds, 2/28:     GDP (5:30am) and Chicago PMI (6:45am).
Thurs, 3/1:    Jobless Claims (5:30am), PMI Manufacturing Index (6:45am) and ISM Mfg Index (7am).
Fri, 3/2:         Consumer Sentiment (7am).
10-Year Treasury History
2.84%     Today
2.88%     One Week Ago
2.66%  … (3 comments)

real estate: Toxic is Trending! - 02/06/18 07:07 AM
Toxic is Trending!
A brief review at recent environmental headlines says it all:
January 31, 2018:  President Mulling Major Cuts to Clean Energy Research (Washington Post)
January 15, 2018:  EPA Loosens Regulations on Toxic Air Pollution (EPA)
January 10, 2018:  Climate Change Websites Censored Under President (
October 9, 2017:  EPA Poised to Scrap Clean Power Plan (New York Times)
The list goes on and on.  So I thought I'd get on the bandwagon and talk a little trash about how toxic loan features, as designated by the Dodd-Frank Wall Street Financial Reform Act, are making a totally terrific, trending comeback in the world of jumbo mortgage … (2 comments)

real estate: Happenstance, History and Hamilton - 01/28/18 02:05 PM
Happenstance, History and Hamilton
A while back, my little boy was attending a birthday celebration for one of his friends at a playground in the Hamilton neighborhood of Novato, CA.  Hamilton was a WWII-era Air Force base and you can still see the remnants of it in some of the Spanish Revival-esque buildings --- a few of which are now in a serious state of disrepair.  Since I had a fairly low tolerance for Frozen and face painting that day, I decided to cut out of the party for a bit and take a short walk.  Ultimately, I found myself peering into the … (6 comments)

real estate: Once Bitcoin, Twice Shy: Can You Buy a Home with Bitcoin? - 01/13/18 03:59 PM
Once Bitcoin, Twice Shy:  Can You Buy a Home with Bitcoin?
Let's talk about what this post will NOT cover:
How bitcoin works. Whether or not you should invest in bitcoin. Is bitcoin the modern day equivalent of tulip bulbs?  
What will we cover?  
Using bitcoin to buy real estate.  In other words, can you use bitcoin for your down payment?  What will a mortgage lender ask for if you obtain a loan for your purchase?  What else do I need to know before I cash out of the investment that's kept me sleepless for the last few months?  
Using Bitcoin to … (2 comments)

real estate: 1984 - 01/06/18 04:30 PM
Look, I realize I should be so lucky to think that someone from the Van Halen camp is going to bust me on a copyright infringement for using the image above.  So if they come a calling, this is what I would tell them:
It was 34 years ago today that Van Halen's 1984 "album" was released.  I was a dark-skinned, plenty-awkward eighth-grader settling in for a long Illinois winter.  With no discernible basketball talent, no academic prowess and zero interest from the cute, middle-America girls who hailed from the Arrowhead subdivision and peopled the halls of our junior high, the basement my … (41 comments)

real estate: It's 2018. Will I Lose My Tax Deduction if I Refi? - 12/31/17 07:02 AM
It's 2018.  Will I Lose My Tax Deduction if I Refi?
If you're asking this question, I'm going to go out on a limb and say you're experiencing some anxiety right about now.  But no matter how bad it gets, realize things could always be worse.  You could be the Internal Revenue Service and tasked on a couple weeks' notice with retooling your shop to both comprehend and implement the Tax Cuts and Jobs Act.  So whether you're a homeowner, a CPA, a Californian, an IRS employee or a blue state Democrat, let's wash down a couple of Xanax with a strong martini … (21 comments)

real estate: Fruitcakes, French Hens, Furs or (Gift) Funds? - 12/05/17 05:59 PM
Fruitcakes, French Hens, Furs or (Gift) Funds?
It's that time of year again when holiday gift giving is on everyone's mind.  But you know me, compulsive mortgage professional, I want to focus on  but a single aspect of the loan process --- gift funds --- this same form of largesse that is received by a fortunate few for the purchase of a home.  As we go into the holiday season, I want us all to keep in mind that right behind Santa's sleigh is Auld Lang Syne.  And when we're talking tax implications for gift funds, this can matter.
Now next year, 2018, all bets … (4 comments)

real estate: Gratitude, Like Revenge & Cranberry Sauce, Is a Dish Best Served Cold - 11/24/17 08:05 AM
Gratitude, Like Revenge & Cranberry Sauce, Is a Dish Best Served Cold
It's Black Friday weekend.  The perfect time to either cool it for a minute, sit back to reflect on Thanksgiving and all for which we're grateful OR to rush hotly into the consumer fray, trample your fellow man and take the win-at-all-costs fight to retail America.  This black and white contrast put into light the bright color of the year that is fast coming to a close and some of the very personal experiences I've shared with our clients, many of whom became homeowners for the first time in 2017.
Specifically, I reflected on how … (3 comments)

real estate: I'm Returning Your Love Letter to Sender - 11/12/17 06:00 PM
I'm Returning Your Love Letter to Sender
Some buyers will try anything to increase their odds of getting into contract and tugging the heart strings of the seller whose home has set their hearts aflutter.  One of the most popular tools for this job is the so-called "love letter."  A love letter from potential buyer to seller typically fires its opening salvo along these sights:
"Dear Seller, we knew from the minute we walked in the door..."
As a mortgage lender in California, and even more so here in the highly-competitive San Francisco Bay Area, many of the best real estate agents with whom we … (47 comments)

real estate: 20% Down? Ain't That a Shame... - 10/28/17 06:48 AM
20% Down? Ain't That a Shame...
Last week, with the passing of Fats Domino, we lost a rock 'n' roll legend and pioneer.
But nearly every week we (me and my team and you, as real estate agents with your teams) lose transactions simply because of the unquestioned and untested myth that every buyer needs to bring in at least a 20% down payment, especially here in California where many of our home prices require loans that exceed the conventional and FHA loan limits.  In addition to simply not recognizing that many great programs exist in order to accommodate a 10% down payment on a … (4 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

REX Homebuyer Participating Lender 80-10-10 Loans What Happens if My Appraisal Comes in Low? Can I Get a Cosigner on a Mortgage?




RSS 2.0 Feed for this blog