My Home Loan With Jay

One of the aspects of rain land I enjoy is you can learn so much from the experience of others. I want to first thank of couple of contributors that posted tutorials that provided insight for utilizing facebook. Thanks to Kerry Lucasse for her post "Promote Your Blog On Facebook" This was particu...

Part III of the Uniform Residential Loan Application compiles Borrower and Co-Borrower information.   Of course you will need to provide your full name, as it appears on your social security card. It is also useful to provide your loan officer with any other name you may use or any other name you...

I have been a Republican all my life. I would actually characterize myself as a conservative and as such I think the Republican Party is the only home for me. In fact, when I first registered to vote in Franklin County Georgia, way back in 1972, the clerk at the county courthouse told me the Stat...

  When I initially speak with someone interested in a residential mortgage most of the time the first question I am asked is either (1) what are your rates. Or (2) what do I need to do to qualify for a loan? The purpose of this series is to address the steps in completing a mortgage loan applicat...

I was working on home loan applications, in my office in Greenville, NC, when the phone rings. I promptly answer and a woman is on the line. She tells me she has just called our telemarketing department and they had referred her to the nearest local branch. (Sidebar: this is generally a sign that...

Sooner or later it's bound to happen. You know in your heart of heats they will be talking about it.   When the bailout frenzy subsides the debate will begin as to: How are we going to pay for it all? I ran across an article this week on CNNMoney.com, written by Shawn Tully discussing the value a...

A business planning seminar, I recently attended, advanced the concept of developing an Initial Benefit Statement to use while pursuing and/or solidifying business referral sources. The proverbial elevator speech, if you will.  The idea is a concise statement of the benefits of doing business wit...

The content of this blog is my opinion and my interpretation of my company's policy. If my opinions and interpretations accurately reflect official company policy, I'm pleased with that accuracy. If not, I stand corrected.  If a non-cash buyer wishes to make an offer on a company REO property the...

Before I begin with the content of this post let me express my gratitude for those that serve in the reserves. Many have been or are to be called to active duty. Thank you for your service to our country.  Reserves as it pertains to a mortgage loan is quite simply how much money do you have left ...

Every industry has its own lingo and anachronism. None more than the government, but that is a discussion for another day. Let's discuss one for the mortgage industry. PITI: Principal, Interest, Taxes and Insurance. Wouldn't payment be simpler? But you would be surprised how many, especially firs...