Mortgage Street Smarts

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Mortgage and Lending - CMG Mortgage, San Diego, CA - NMLS 259027
From a young age, we learn the difference between BOOK SMARTS (knowledge learned in the school classrooms) and STREET SMARTS (what we learn in the "Real World"...often the hard way). There are no shortage of websites providing the BOOK SMARTS of the Mortgage Industry, but there are very few resources a Consumer has to learn about the STREET SMARTS of the Mortgage Industry. Please feel free to SUBSCRIBE (for free) to this ongoing source of truthful knowledge (without the worry of a "sales spin" buried somewhere in the message). After all, we tend to make better decisions when armed with the facts...the purpose of this blog is to provide FACTS by teaching you the MORTGAGE STREET SMARTS necessary to run your business (if you are a Real Estate Professional) or to make the best decisions for your family (if you are a Consumer). Enjoy!
RECENT BLOG POSTS
How to calculate an FHA mortgage payment has evolved again, now that the most recent Monthly Mortgage Insurance changes have been implemented via HUD Mortgagee Letter 2015-01.  How to calculate an FHA mortgage payment Step 1: Determine the loan amount· Purchase Price x .965 = Base Loan Amount (as...
02/10/2015
FHA Mortgage Loans have helped people from all over the country achieve their goals of homeownership. On many levels, FHA loans have provided more leniency on qualifying approval parameters than other loans on the market. For example, FHA loans have allowed lower down payments, higher debt-to-inc...
02/06/2015
This almost sounds like the buildup of a joke, but there is no punch line...THIS IS REAL! After reading this article, you will likely utter one word under your breath... "FINALLY!" FINALLY there are Lender's who will commit their own financial "skin in the game" during an escrow! Real Estate Prof...
12/18/2014
Mortgage Backed Securities have given back some of last week's gains this morning.  Mixed early economic data was roughly neutral. November industrial production rose from October, well above the consensus for increase. However, the Empire State regional manufactuing index declined below the cons...
12/15/2014
At the end of last week, Mortgage Backed Security (MBS) prices rallied to the best closing levels of the year on very light volume. The move appears to have been overdone, and MBS have begun this week by giving back Friday's gains. Construction Spending came in higher than expected and the bigges...
12/02/2014
Holiday Cheer has come early as Mortgage Backed Securities rallied nicely on Friday and have maintained thus far this morning. Weak data from overseas has helped bonds but hurt stocks. The US ISM Index came in just above expectations. Compared to Wednesday's closing, the market has opened with a ...
12/01/2014
We have had a huge batch of economic data released today ahead of the Thanksgiving holiday, but so far the reports have had little impact on Mortgage Backed Securities. Durable Orders & Jobless Claims both came in higher than expected, while Personal Income, Chicago PMI, New Home Sales Index, and...
11/26/2014
Our rate volatility will likely have a reprieve today as there is no economic data due to be released for the rest of the day. Compared to Friday's closing, the market has opened with a 0.125% IMPROVEMENT to the Points/Credits associated with any given interest rate option. This daily mortgage in...
11/21/2014
With little economic news, Mortgage Backed Securities drifted lower this morning. There will be no loans locked tomorrow in observation of Veteran's Day. Compared to Friday's closing, the market has opened with a 0.125% WORSENING to the Points/Credits associated with any given interest rate optio...
11/10/2014
San Diego Bankruptcy Attorney Thomas Gorrill, Esq. wrote the following story pertaining to a recent client experience. Please take a moment to learn how an ethical San Diego Bankruptcy Attorney objectively analyzes a client scenario before making a professional recommendation. If you, or someone ...
10/27/2014
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Jason E. Gordon

Sr Loan Officer, CMA, CMPS, CDLP, CDRE, RCSD, CDPE
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Author Bio: Jason Gordon is a Residential Mortgage Specialist in San Diego, CA. He combines ethics, education, and experience while helping Homebuyers and Homeowners to achieve their financial goals.View all AR Posts By Jason Gordon

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