Doug Jones's (dougj) Blog

Mortgage and Lending - Mortgage Magic
Do you know if you are a Realtor or Loan Officer that the banks can and do discriminate against you for credit applications?  The Equal Credit Opportunity Act prohibits a creditor from refusing to grant credit because of your:   race or color national origin sex marital status religion age public...
It is doing the little things that can lead to great success.   John Wooden is known as a famous basketball coach (He was  also known as a great human being -died 2010). John won 10 national championships in 12 years as the coach of UCLA. At one time his team won 88 consecutive games and 4 season...
In 1979 I wrote a million dollar second mortgage that had a rate of 18%. The interest for that loan was $15000 each month. Today the interest for a million dollar loan would be perhaps 4% or $3,333 each month.   The loan was made to a Hollywood Celebrity who went on to national fame and if I ment...
I am a mortgage broker and I am also a magician. The two professions don't seem at first glance to have a lot in common but a constant connector of the two professions for me is: math. Mortgages, Magic, and Math.   All day long as a mortgage broker I deal with interest rates, loan to values, debt...
  We are not a credit repair company and do not charge a fee when we clean up credit files. It is part of our loan service. Many times a loan guideline may require a certain credit score. If the credit score is below that number there can be either a flat turn down or a loan with increased pricin...
Today I made a bank deposit and some of the deposit was cash.The Cashier marked a $50 dollar bill with a pen to make sure the bill was real.and it reminded me of the time I had a $20 counterfeit bill a few years ago.   I was rushing to San Francisco and stopped by my bank in the same building whe...
Service Clubs really help communities all across America. Consider joining a service club in your community.   The people at Mortgage Magic are community service orientated.   Paul SanFilipo is president of the Redwood City Optimist Club Wendy Wong is president of the San Jose Kiwanis Club Joe A...
Will the mortgage lender want to see divorce papers? Probably and certainly in these situations.   A copy of the Divorce Papers will be required if:   You receive income in the form of child support or alimony. This income can be used for loan qualification so long as there is a 6 month history a...
The loan underwriting has improved but there are so many situations where it still does not make sense.   The credit score is a good example. I sent a loan scenario to a lender back in Michigan and outlined the loan. His reply "If the credit score were over 700 we would accept this loan."   The c...
My first memory of Christmas is of a Salvation Army team bringing a Christmas tree and toys to our apartment.  That made a lifetime impression on me and now all these years later I have been a board member of the Santa Clara County Salvation Army Advisory Board fro 25 years. Thursday, December 11...

Doug Jones

Mortgage Broker - NMLS 286668
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