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Study: Mortgage Bankers Kill 133 Trees

Study: Mortgage Bankers Kill 133 Trees

In just my first year in the mortgage business, just a little after the turn of the century, me and the people I worked with killed over 133 trees. Usually, people are all “Loosey-Goosey” when they throw around numbers like that, fudging stats to prove whatever point...

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Mortgage Lenders Tighten Their Belts Another Notch

Mortgage Lenders Tighten Their Belts Another Notch

Since the start of the pandemic, mortgage lenders in New York City have tightened their guidelines making it more difficult to qualify for mortgage financing on a property located in any of the 5 boroughs. The Apple Peeled reported on this extensively in the closing...

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Technically Speaking, We’re Making Some Upgrades

Technically Speaking, We’re Making Some Upgrades

We’ve always thought technology was sexy as hell. Even the packaging is hot. And we love that new phone smell! Sure, technology has its flaws… For instance, human beings, in general, would probably be in better harmony with one another if social media was erased from...

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AT THE CORE

Headline: I Met A Girl Who Sang The Blues

Headline: I Met A Girl Who Sang The Blues

2020 energy feels a lot like listening to the song “American Pie.” But February made me shiver With every paper I’d deliver Bad news on the doorstep I couldn’t take one more step.  Years after writing ‘American Pie,’ Don McLean called the song an indescribable...

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INPUT OUTPUT SLEEP

INPUT OUTPUT SLEEP

The human mind has three modes. INPUT, OUTPUT, and SLEEP. Those are the options. Who the hell knows what’s going on in your mind when you’re asleep, so for now, we won’t tackle that topic. Let’s just assume that you’re in SLEEP mode for 30 percent of your life. The...

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The Espinal Adler Team Expands Beyond NYC

The Espinal Adler Team Expands Beyond NYC

We love New York City so much that it’s hard to wrap our brains around the idea of so many people leaving it behind.  At first we didn’t want to believe it. But the numbers do tell a story. A recent study by Realtor.com concluded that home searches in suburban...

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ASK THE EXPERTS

You Might Want to Know This

You Might Want to Know This

Things We Heard When We Put Our Ears to the Ground: Mortgage Guidelines are tightening up Chase this week planned to reduce the maximum Loan to Value (LTV) down to 70% on all its jumbo mortgage products for properties in New York City. That means, if you plan to...

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Here’s $10 Million. How Would You Spend it?

Here’s $10 Million. How Would You Spend it?

You are given $10 Million along with a very specific set of instructions. You must invest every penny in Manhattan real estate. You could spend all of it on 1 property or you can divide the money amongst as many different properties as you want. You may purchase any...

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A Debate About Whether the Stars Are Perfectly Aligned

A Debate About Whether the Stars Are Perfectly Aligned

In the last two editions of The Apple Peeled, we said the conditions for investing in newly developed New York City real estate are P-E-R-F-E-C-T.   Prices are down. Rates are down. Developers are offering massive concessions. We said all of the stars were aligned....

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MORTGAGE MINUTE

WITH MATT JABLONSKI

MOLINGO (Mortgage Lingo): The Documentation Dilemma

MOLINGO (Mortgage Lingo): The Documentation Dilemma

There isn’t anything fun about applying for a mortgage – except for the part where you close and it’s over. The process is inefficient. The whole thing takes too damn long. And the amount of documentation they ask for could keep a small house warm in the middle of...

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Dear 8th Grade Self: We Do Math (All the Time)

Dear 8th Grade Self: We Do Math (All the Time)

I will never choose a job where I’m going to have to do math.  In 8th grade, that was a pretty non-negotiable part of my future. And look at me now, crunching mortgage numbers behind a desk for The Espinal Adler Team. That old/young me with a mullet would...

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Espinal Adler Unveils Secret Weapon

Espinal Adler Unveils Secret Weapon

I high-fived Tony Robbins during the day and that night I was standing 6 or 7 feet away from a bloated, middle-aged Axl Rose who still knew how to put on an amazing show while performing with a quasi-version of Guns n’ Roses in Las Vegas. It was June 2014. I was at...

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Locking Into the Best Rates Ever is Complicated

Locking Into the Best Rates Ever is Complicated

Let’s set the scene: You call a loan officer about a refinance; you got their name from a friend.  The loan officer quotes a rate. It’s 2.75% for a 30-year fixed. You almost can’t believe your ears.  Your inner Jack Nicholson speaks to you. “You want that...

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Coining a Phrase: Socialized Mortgage Finance

Coining a Phrase: Socialized Mortgage Finance

Socialized Mortgage Finance is a phrase that is becoming more prolific in the secret underbelly of the mortgage industry where a thousand private conversations dictate the direction of the masses. In the wake ofCovid-19, as we slowly come out of isolation and into a...

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MOLINGO

MOLINGO

Two days before I started my mortgage career, as a “get to know ya” exercise, my new boss invited me to play golf with him and two other loan officers.  I was really excited to start a new career, mostly because my earning potential seemed unlimited, especially...

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