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See what Essex has been up to this month! February is here! Thank you for checking out our blog!
Every month we post to our social accounts but sometimes it can get lost in the mix of all the content found online at any given moment. Keep up to date with us in our blogs and monthly newsletters.
Here's what you'll find in this newsletter:
page 1
Top Loan Officers & Employee Spotlight
Top Loan Officers from last month:
Bob Maldonado, Michelle Hernandez, and Glenn Daly
BOB MALDONADO NMLS# 269090
"Bob is professional and courteous. Took the time to answer our questions and reassure our concerns. You won't be disappointed working with Bob. Outstanding!"
- Golmer N., CA
MICHELLE HERNANDEZ NMLS# 984558
"Michelle is the best!"
- Michael B., CA
GLENN DALY NMLS# 239978
"Glenn was an absolute professional. We were first time home buyers and Glenn was kind and patient and explained everything step by step. We felt incredibly taken care of. I don't think there is anyone better."
- Michelle D., CA
Employee Spotlight:
Nora Del Pozo | Loss Mitigation Liquidation Specialist/HAF Coordinator
Question: How long have you worked at Essex?
Answer: Almost 2 years (6/5/2023)
Question: Why do you like working at Essex?
Answer: The best thing about working at Essex is positive people that surround me every day.
Question: What's a fun fact of yours?
Answer: I have 7 dogs: German Shepherd and Belgian Malinois.
Question: If you could only eat one thing for the rest of your life what would it be?
Answer: Coffee!! (sinister laugh)
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About Essex Mortgage
Community Appreciation: Lily's Hope Foundation
Lily’s Hope Foundation is a nonprofit organization that was founded in 2013 with the purpose of supporting the families of infants born prematurely. In order to answer the emergency needs of these families, the Foundation provides resources, aid, and hope through their Preemie Pantry and Packages of Hope programs. Since their inception, Lily’s Hope Foundation has supported over 4,400 families with premature babies.
If you would like to learn more or donate, click here: https://www.lilyshopefoundation.org/
Our Story
Hailing from Essex, England, Roland Weedon founded Essex Mortgage in 1986. With a background in education, Roland remained adamant that educating the client wouId be the company's number one priority. Today, Roland still holds to the fact that an educated client is best equipped to make decisions that are not only in their best interest, but also help in achieving both short and Iong-term goals.
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Mortgage Education
Loan Processor
The loan processor plays a crucial role in managing mortgage applications. They collect and organize all necessary documentation, including verifications of employment, income, and monthly expenses, by coordinating directly with the borrower. Once all required information is gathered and confirmed, the completed file is submitted to underwriting for approval.
Mortgage
A loan using your home as collateral. In some states, the term mortgage is also used to describe the document you sign (to grant the lender a lien on your home). It may also be used to indicate the amount of money you borrow, with interest, to purchase your house. The amount of your mortgage is usually the purchase price of the home minus your down payment.
Appraiser
The job of the real estate appraiser is to do a thorough inspection of the property that you are purchasing and determine the fair market value. In addition to the inspection of the property, appraisers also take into account the sales of similar homes that recently sold within a certain radius.
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Mortgage News
Industry News
30-Year Mortgage Interest Rates
"Today's average rate on a 30-year, fixed-rate mortgage is 6.9%, which is 0.07 percentage point higher than last week.
The interest plus lender fees, called the annual percentage rate (APR), on a 30-year fixed mortgage is 6.93%. The APR was 6.86% last week.
To get an idea about how much you might pay in interest, consider that the current 30-year, fixed-rate mortgage of 6.9% on a $100,000 loan will cost $659 per month in principal and interest (taxes and fees not included), the Forbes Advisor mortgage calculator shows. The total amount you'll pay in interest during the loan's lifespan is $137,072." (source: forbes.com)
The rates found above are from February 14th and are subject to change. Use our loan calculator tool to determine your estimated monthly payments for different loan amounts, interest rates, and term lengths.
15-Year Mortgage Interest Rates
"The average interest rate on a 15-year mortgage (fixed-rate) inched up to 5.98%. This same time last week, the 15-year fixed-rate mortgage was at 5.9%.
On a 15-year fixed, the APR is 6.03%. Last week it was 5.96%.
With an interest rate of 5.98%, you would pay $843 per month in principal and interest for every $100,000 borrowed. Over the life of the loan, you would pay $51,690 in total interest." (source: forbes.com)
The rates found above are from February 14th and are subject to change. Use our loan calculator tool to determine your estimated monthly payments for different loan amounts, interest rates, and term lengths.
Realtor.com Freddie Mac Updates
"The Freddie Mac rate for a 30-year mortgage retreated slightly this week, falling to 6.87% from 6.89%. This is the lowest reading of the rate so far in 2025, but mortgage rates remain higher than they were one year ago at this time. The 30-year fixed rate dropped despite the yield on the 10-year Treasury note rising over the past week as the stock market remained strong and inflation fears persisted, as a result of the Trump administration’s tariff threats, which we would expect to put upward pressure on mortgage rates. Given Wednesday’s news of consumer inflation coming in higher than expected, mortgage rates are unlikely to drop much more significantly anytime soon, as debt market investors demand higher returns to account for weakening spending power and the Federal Reserve is unlikely to lower interest rates." (source: realtor.com)
At an interest rate of 6.87%, a 30-year fixed-rate mortgage is estimated to cost $1,132 per month in principal and interest, private mortgage insurance, and property taxes and insurance for a loan of $100,000. (source: My Home by Freddie Mac)
The rates found above are from February 13th and are subject to change. Use our loan calculator tool to determine your estimated monthly payments for different loan amounts, interest rates, and term lengths.
Need a loan officer?
Visit our Find a Loan Officer page to find a loan officer near you!