Blog - JVM Lending

Conforming (Fannie/Freddie) Loan Limits Increase; Why It Matters

November 30, 2020/in Mortgage Industry, Our Blog

The U.S. Median Home Price has increased over 15% year over year – so it is no surprise that the Federal Housing Financing Agency (FHFA) has increased the Conforming Loan Limits significantly for 2021. I touched on this briefly last week, but am hitting it again in more detail now that everyone has returned to […]Read More

Negative Rates Are Coming; What It Means For Real Estate And Mortgages

November 23, 2020/in Interest Rates, Our Blog

Negative interest rates are heading our way – with certainty – according to Luke Gromen, a macroeconomist who was featured on The Investor’s Podcast recently. Mr. Gromen believes that the Fed and the U.S. government have no choice but to continue to push rates down in whatever way possible in order to finance our massive […]Read More

Comparable Sales Appraisers Can’t Use; Appraisal Reviews

November 20, 2020/in Appraisals, Our Blog

Hot markets foster appraisal issues – every time. This is b/c aggressive buyers in multiple bid situations frequently offer to pay far more for a property than what closed comparable sales can support in an appraisal. If buyers have ample cash, low appraisals are often not an issue, as buyers can simply bring in cash […]Read More

Finding Sellers/Listings With A.I. – Why We Know It Works

November 19, 2020/in Marketing, Our Blog

I touted Predictive Analytics and A.I. to find potential sellers numerous times last year and early this year b/c it is clearly so effective. This blog from February is just one example. I tout Revaluate in particular because they are so inexpensive and effective. I am revisiting this topic now though b/c we recently put […]Read More

Your Digital Footprint & Reputation – Again; More Important Than Ever!

November 18, 2020/in Marketing, Our Blog

A “CEO Coach” recently reached out to me on LinkedIn. We had mutual connections and his pitch was quite enticing, so I googled him. And – his digital footprint was lacking, so I quickly moved on. This reminded me of our own Digital Audits for our Agent Partners and how extremely important they are in […]Read More

JVM’s “Fast 14” Returns! 14 Calendar-Day Close: Why And How?

November 16, 2020/in Homebuying, Our Blog

We are bringing back our 14-Day Closes! And yes, that is Calendar Days and NOT Business Days. And yes, this is from the day the contract is signed to the day the transaction records. THE WHY Despite record volumes and a continued onslaught of refis, we nonetheless felt obligated to bring back our fast closes […]Read More

“Decision Fatigue” Is A Thing

November 13, 2020/in Our Blog, Self Education

Every morning when I wake up, I follow an identical routine: 1. Meditate; 2. Put on workout clothes; 3. Insert headphones and start podcast; 4. Open curtains and make bed; 5. Drink glass of water; 6. Let Steve (dog) out; 7. Feed Steve; 8. Make Heejin’s coffee; 9. Make and consume protein shake and supplements […]Read More

7 Ways Parents Can Help Kids Buy Homes

November 12, 2020/in Homebuying, Our Blog

Parents frequently ask about the best options for helping their kids buy homes, so I thought I’d set out a few in this blog. 1) Gift of Funds. If kids have sufficient income to qualify themselves and only need cash, a willing parent should simply “gift” the necessary funds for the down payment and closing […]Read More

Biden Wins & Vaccine News; Effect On Mortgages & Interest Rates

November 9, 2020/in Interest Rates, Our Blog

Joe Biden was declared the winner of the election over the weekend, and the markets … did very little. When I refer to “the markets,” I am referring to both stocks and bonds – which often move in opposite directions. Hence, when stock prices move upward, bond prices often move downward (with the effect of […]Read More

Low Rates Make Real Estate Investing And Airbnb More Viable

November 6, 2020/in Our Blog, Real Estate

My wife Heejin is looking at an investment property in Plano, Texas that will sell for about $510,000. It also has a tenant in it who is paying $3,700 per month. With 25% down, the PITI is around $2,600 – assuming a no-points loan in the 3.25% range. Note that investors can put 20% down […]Read More

Minimum Tradelines/Credit Accounts For Jumbo Borrowers

November 5, 2020/in Homebuying, Our Blog

In 2015, I blogged about the need for borrowers to have at least 3 tradelines or credit accounts. That was b/c we used to see first-time-buyers with no credit established at all, so we would suggest obtaining secured cards (credit cards with cash collateral), retail-store credit cards and/or small car loans. Insufficient credit is less […]Read More

Post Election Observations; Experts Wrong Again (and Again)

November 4, 2020/in Our Blog, Self Education

A few weeks ago, I predicted that the election would be contested and the uncertainty would cause rates to fall. And, today, the day after the election, there is tremendous uncertainty and rates fell. I was lucky with my prediction and merely repeating what I was reading across the blogosphere. And – things could have […]Read More

4 Reasons NOT to Fear “The Coming Tsunami of Foreclosures”

November 2, 2020/in Homebuying, Our Blog

Forbes.com recently published The Serious Disconnect Between A Hot Residential Real Estate Market And The Coming Tsunami of Foreclosures. And I thought, here we go again… The author expresses serious concerns about the frothy housing market, with both sales volume and prices increasing at double-digit rates. The market may in fact be overheating, BUT the […]Read More

How Do Elections Affect The Housing Market?

October 30, 2020/in Homebuying, Our Blog

The best blogs come from plywood companies. I always say that. Or at least today I do b/c I found this excellent blog, titled “Presidents and Plywood – How Elections Affect the Housing Market.” I have blogged numerous times about how the election might impact interest rates, but I have not focused on how it […]Read More

Loan Servicing & Why It Matters

October 29, 2020/in Mortgage Industry, Our Blog

A frustratingly common complaint from borrowers has to do with loan servicing. It is so frustrating because we often have so little control over the process. LOAN SERVICING Per Investopedia, loan servicing includes sending monthly payment statements, collecting monthly payments, maintaining records of payments and balances, collecting and paying taxes and insurance (and managing escrow […]Read More

Big Team vs. Small Team vs. Solo – Best Recipe For Success?

October 28, 2020/in Our Blog, Self Education

When I was in law school, I met, worked and interviewed with dozens of attorneys and what shocked me was how few of them actually liked their profession (a main reason I never pursued the profession myself). There was, however, one notable exception that sticks in my mind to this day. He was a sole […]Read More

Fannie Mae Re-Slams Mortgage Industry With 1/2 Point Refi Fee

October 26, 2020/in Interest Rates, Our Blog

In August, I blogged about Fannie Mae Slamming Refi Borrowers With A New 1/2 Point Fee. And then later in August, I blogged about Fannie Mae Yanking Its 1/2 Point Fee In Response to Industry Pressure. But, Fannie only postponed its refi fee until December 1st. So all refinance loans sold to Fannie Mae and/or […]Read More

Should I Lock My Rate Before The Election? “Uncertainty” and Low Rates

October 23, 2020/in Our Blog

Yesterday, I was asked “should I lock my rate before the election just to be safe?” My response was that I think people are safe not to lock b/c the election is likely to be contested. And this is why. The polls are generally in favor of Mr. Biden, but they are constantly moving and […]Read More

Getting The “Best Deal” Cost Client $300,000; It’s %’s; Putting Money Where Your Mouth Is

October 22, 2020/in Our Blog, Real Estate

In 2010, we had a client shopping for homes in what was and still is one of the hottest markets in the entire country – “the Rockridge” neighborhood in Oakland, CA. He was well-qualified with ample cash and low debt ratios, but he was determined to get the best deal possible; he was convinced that […]Read More

Beware Of Fake Vendors Pretending To Be Us; Paying Off HELOC = Cash Out

October 21, 2020/in Mortgage Industry, Our Blog

BEWARE OF VENDORS IMPERSONATING LENDERS This is a quick reminder that some vendors, particularly sellers of “mortgage protection insurance” or other insurance products, often reach out to new homebuyers shortly after close. These vendors often see the name of the funding mortgage bank on county records and then reach out to homebuyers, pretending to be […]Read More

JVM’s Blog