Doug Jones's (dougj) Blog

Mortgage and Lending - Mortgage Magic
I can't approve every loan and win every rate battle. But, what I can do is:1. Listen to every customer with all eyes and ears.2. Let the customer know I understand by asking questions and getting feed back.3. Gather all the required information from the customer and analyze it completely.4. Stu...
I am really lucky. In Mortgages I work with 35 people at Mortgage Magic and they have all been here for years -- they really are my friends and family. My Sr Underwriter, Gloria has worked with me for 25 years - since she was 17. Kianna, who is the glue to Mortgage Magic becuase she knows how eve...
I am working this week on a loan that I have not done in a few years; an FHA rehab purchase loan. There are many rules and regulations - guidelines - for this loan. I have 5 banks who offer the loan and not one loan rep from the bank knows the 'ins-and-outs' of the loan. A bank rep is the same as...
Some of the lending rules are just dumb. I have a customer who is doing a no cash out refinance. He is only refinancing to lower his interest rate and payment. During the loan process the title company ordered the pay off demand from his present lender. When our loan documents got to title the ti...
Recently I have been doing a lot of loans from customers who come to me from the Internet.   After talking for a minute they almost always ask what's the rate? A famous magician told me one time when someone says, "How did you do that?" , they really don't want to know - they just don't know what...
How does a 'regular' person achieve success in this world of instant around-the-world hi tech knowledge ?   There are still millions in the work force who are not the super achiever mega billionaires. These people exist and good for them; they are a blessing to the world and help millions. but, m...
The HECM is the federally insured reverse mortgage product. It is insured by the Federal Housing Administration (FHA), a branch of the U.S. Department of Housing and Urban Development (HUD). HECMs account for nearly all reverse mortgages made today in the U.S. Following are the number of HECM lo...
"Home Equity Conversion Mortgages (HECM), or reverse mortgages, which are designed, administered and insured by the Federal Housing Administration (FHA), are one of the best engineered financial tools of our generation. It is designed to meet the widest possible spectrum of senior needs, from rep...

Doug Jones

Mortgage Broker - NMLS 286668
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