Doug Jones's (dougj) Blog

Mortgage and Lending - Mortgage Magic
As a Realtor you want to be aware of some differences between Fannie Mae, Freddie Mac, and FHA underwriting. Here are some very basic differences.   True Example: I was the listing agent for a home and we were in contract. After two weeks the Realtor representing the buyer called me with bad news...
My loans are now being approved and funded quickly. A couple of years ago I felt that the banks could close the purchase loan quicker than I could but now our purchase loans are going fast. Signed a loan on Friday and the Realtor went into contract with a 7 day loan contingency and 7 day apprais...
When I was in consumer finance we wrote many loans to young people with no credit history and to qualify them we used "co-signers". Most  of the times the co-signers were parents, brothers, sisters, or other relatives; sometimes a close friend.    Banks do allow for non-occupant co-bor...
Years ago I attended a function at a private club and the presenter was a media marketing expert. This was before social media existed. The lady was talking about how her firm could get TV, radio, and news print exposure for the attendees (for a large fee). It just happened that when she was fini...
When you apply for a mortgage loan one of the documents that you will be asked to sign is an IRS form 4506-T.   What is a Form 4506-T? Form 4506-T is an Internal Revenue Service (IRS) document that is used to retrieve past tax returns, W-2, and 1099 transcripts that are on file with the IRS. The ...
Sometimes a thought must be presented a different way or from a different source for it to take hold. I received the quote in an email this morning and it made an impact on me. This may be the most important quote I have ever read or been exposed to  The Universe does not know whether the vibrat...
I was recently in a hotel in Calgary and  noticed a large banquet room that had been set up for an event. The room was overwhelmingly beautiful with the table settings and podium, large screens and many royal purple balloons. It was set up for more than 300 people and I thought that this was real...
The reverse mortgage does not have to be "reverse". A lady called me and wanted to take some cash out of her home but her credit was really bad and she had lost another home in foreclosure about three years ago. I knew that I could refer her to a Hard Money lender and get her the cash t...
On Saturday June 14th I was a speaker for an Eagle Scout Court of Honor at Joint Venture Church in San Jose. It was quite a formal event and two Scouts became Eagle Scouts. I talked about my adventures in Scouting and about a blog that I wrote that the Scout Law is an excellent buiness model for ...
On Saturday I was a speaker for a Boy Scout  Eagle Court of Honor in San Jose. The reason I was asked to talk is because I had written a blog stating that the Scout Law is a fantastic sales law.   Sitting in the audience he...

Doug Jones

Mortgage Broker - NMLS 286668
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