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November Newsletter 2023

Updated: Dec 12, 2023

Essex Mortgage October 2023 Newsletter banner with wagon and pumpkins in the background
Utensils on a table with a Happy Thanksgiving tag surrounded by fall leaves

See what Essex has been up to this month! November is here and that means the Holidays are just weeks away!

Every month we post to our social accounts but sometimes, that gets lost in the massive amounts of content found online at any given moment. Keep up to date with us in our blogs and monthly newsletters.

Veterans Day social media post

Here's what you'll find in this newsletter:

page 1


Top Loan Officers & Employee Spotlight

Top Loan Officers from last month:

Christopher Collins, Christian Clements, and Mitchell Olson

Essex Mortgage logo shield


"Fred is the best. I have done three loans with him. A testament to his outstanding service."

- Yuan Y.

Circular headshot of loan officer Tammy Harrison


"I had no idea how to complete this process and I needed a lot of help. Tammy was there and patient while I asked a million questions. I appreciate her hard work and support."

- Tami T.

Circular headshot of loan officer Keith Murphy


"Keith and his staff are the dream team: professional, efficient and easy to work with! They accommodate above and beyond ALWAYS. First class VIP experience for us!!!" - Sotiria C.


Employee Spotlight:

Donelle Pitton | Servicing Training Coordinator

Social media employee spotlight post for employee Donelle Pitton

Question: How long have you worked at Essex?

Answer: 30 days

Question: Why do you like working at Essex?

Answer: I enjoy working for Essex because it gives me a great sense of purpose. I truly enjoy training our team and providing them with the tools and resources they need to deliver a ROCKSTAR experience, not only to our borrowers but also to our Essex Family.

Question: What's a fun fact of yours?

Answer: When I was younger, my parents sent me to live with my grandmother in France without any means of communicating with my family because I didn't speak French, and my family did not speak English. Within 2 months, I became fluent in French! I love getting the chance to visit whenever I can!

Question: What is your favorite Halloween candy?

Answer: All the candy that my daughter brings home from Trick-or-Treating. Parents always get to check the candy first, and all the candy that's not "good for you" ends up in a bag in my room. Somehow, that ends up being the majority of her candy! I don't mind taking one for the team just to keep her healthy!

page 2


About Essex Mortgage

Community Spotlight: Innocence Project

The Innocence Project is a non-profit organization that works to exonerate those who have been wrongfully convicted, prevent wrongful convictions, and reform the criminal justice system. Founded in 1992, this nonprofit employs a multifaceted approach, utilizing DNA evidence and legal expertise to restore freedom for the wrongly convicted. They have helped to exonerate over 350 wrongfully convicted people, and their work has led to reforms in the criminal justice system, such as the creation of DNA databases and new rules for eyewitness identification procedures.

If you would like to learn more or donate, click the link:

Man laughing in light colored shirt

Essex Mortgage President Roland Weedon

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 #1 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.

page 3


Mortgage Education

Jumbo Loans

Depending on your geographical location, conforming loans have a financing limit of up to $510,400. If you require a mortgage for an amount surpassing this limit, it necessitates what's termed as a jumbo, or non-conforming, loan. These loans cater to qualified buyers seeking to purchase homes in pricier regions, where the average home selling price is considerably higher. Jumbo loans can additionally be utilized for purchasing second homes, vacation properties, and investment real estate.

Homeowners Insurance

Homeowners insurance is a policy that protects the homeowner and lender against losses and damages to an individuals house and assets on the property. Not only does this cover possessions and the home itself, but also protects against liability in case a visitor gets injured on the property. All of these policies have a liability limit that determines how much coverage you have in the event that an accident occurs.


Default is when someone fails to fulfill a legal obligation, in this case, paying a mortgage. A default includes failure to pay on a financial obligation, but may also be a failure to perform some action or service that is non-monetary. For example, a mortgage requires the borrower to maintain the property and a default would occur when this requirement is not met.

page 4


Essex Mortgage News

All Company Updates


ESSEX TOTAL: $211,305,338 / 1217 units

Retail Fundings: $10,457,354 / 28 units

Correspondent Purchases: $200,847,984 / 1189 units


  • Paycom reminder: login and verify personal information and address are correct in system prior to year-end

  • Save the Date - 2024 Open Enrollment will be November 13 – November 30 for plan starting January 1, 2024.


  • Essex Mortgage Correspondent has some exciting news to announce! We will now be offering reduced LLPA’s, manual underwriting, and high balance loans on all 100% CLTV FHA DPA loans.

  • New Product Details:

    • Eliminated LLPA for Credit Scores 660-679

    • Manual Underwrites Allowed (No Price Adjustment)

    • High Balance Loans Now Available

  • Correspondent attended MBA St. Louis: 2023 Golf Tournament and had a great time!

Correspondent employee Charlie Nager at a charity golf tournament.

Industry News

30-Year Fixed Mortgage Interest Rates*

Today’s average rate on a 30-year, fixed-rate mortgage is 8.05%, which is 0.14 percentage point higher than last week.

The interest plus lender fees, called the annual percentage rate (APR), on a 30-year fixed mortgage is 7.94%. The APR was 7.82% last week.

To get an idea about how much you might pay in interest, consider that the current 30-year, fixed-rate mortgage of 8.05% on a $100,000 loan will cost $737 per month in principal and interest (taxes and fees not included). The total amount you’ll pay in interest during the loan’s lifespan is $165,311. (source:

15-Year Fixed Mortgage Interest Rates*

Today’s 15-year mortgage (fixed-rate) is 7.24%, up 0.18 percentage point from the previous week. The same time last week, the 15-year, fixed-rate mortgage was at 7.06%.

The APR on a 15-year fixed is 7.17%. It was 7.01% a week earlier.

A 15-year, fixed-rate mortgage with today’s interest rate of 7.24% will cost $912 per month in principal and interest on a $100,000 mortgage (not including taxes and insurance). In this scenario, borrowers would pay approximately $64,173 in total interest. (source: Freddie Mac Updates*

The Freddie Mac fixed rate for a 30-year mortgage dropped 0.26 percentage points to 7.5 percent this week, the biggest one-week decrease since last November. This notable drop is influenced by a combination of factors, including slower long-term debt issuance, steady policy rates, and a slower job market. During the latest Federal Open Market Committee (FOMC) meeting, members of the Fed voted to maintain the short-term policy rate within a range of 5.25 to 5.5 percent. Nevertheless, the option for an additional future rate hike is still on the table as more economic indicators are needed to determine whether the current policy is ‘restrictive enough’ to bring inflation back to the 2% target. Meanwhile, the October jobs report, which revealed moderate job growth and reduced wage pressures, may instill confidence among policymakers that the economy will continue to progress in the desired direction without the need for additional rate hikes in the coming months. As the possibility of a rate hike remains on the table, investors are likely to exercise caution in their positioning, and the expectations for rates to stay steady to slightly higher remains. (source:

*All rates are as of the day this blog was posted (Nov 14, 2023) 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.


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36 views1 comment

1 comentário

Jeff Miller
Jeff Miller
02 de dez. de 2023

My impression is Essex has been in chaos since moving to Florida. Three of my mortgage payments were "lost" in the mail, the internet portal was changed and I'm unable to pay online. Payment must be made by calling customer service which is time consuming. I may or may not receive a return call and end up waiting hours or days for a return call. Now there is another change of address and more confusion. If you are considering Essex... you've been warned.

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