Blog - JVM Lending

Rates Keep Falling; Rates Keep Falling, Down, Down; What’s Going On?

February 21, 2020/in Interest Rates, Our Blog

I stole my subject line from the 1985 Simple Minds song – Don’t You Forget About Me… OK – they might have actually sung “‘Rain’ keeps falling…” but I was an economics-obsessed econ major, so I heard “Rates.” Because rates were falling! From almost 18.5% in 1981 all the way down to 12% in 1985! […]Read More

Why & When Appraisals Do NOT Equal Market Value

February 20, 2020/in Appraisals, Our Blog

BEATING THE APPRAISAL DEAD HORSE I beat this dead horse more than any other simply b/c the issue surfaces so often. This week was no exception when a buyer of ours got cold feet when his appraisal came in $25,000 under contract price. This happens from time to time in hot markets whenever there are […]Read More

WWI General Court-Martialed for Bucking the System/Recommending Better Tech!

February 14, 2020/in Our Blog, Self Education

General Billy Mitchell is one of the more fascinating stories in American military history. He was a WWI combat hero who ended up in charge of airplane and tank development in the 1920s. He quickly saw that all future wars would be won or lost by the combatants with the best airplanes and tanks. As […]Read More

More HOA Dues = Less House; Personal Litigation

February 13, 2020/in Homebuying, Our Blog

HOA DUES = LESS HOUSE This is another reminder that HOA dues can significantly offset purchasing power, as HOA dues are a payment that affects debt ratios like every other monthly payment. In this low-rate environment, $100 of HOA dues can offset purchasing power by as much as $20,000. In other words, a buyer looking […]Read More

The Importance of Life Events & Big Data – One More Time

February 12, 2020/in Marketing, Our Blog

We hosted a large Tech Expo recently and we had two presenters discuss the importance of “life events” again. I have discussed this numerous times now but want to hit again simply because the topic is so important; because data is so much more accessible now; and because the data can help ALL of us […]Read More

The “Mother” of All Testimonials :) (Winnie the Pooh Too!)

February 10, 2020/in Our Blog, Testimonials

I try very hard to keep this blog as informative as possible, without inserting too much “Rah, Rah JVM!” material. But sometimes, I can’t resist – especially when even the “Rah Rah” stuff is informative. We work extremely hard to cultivate relationships with real estate agents, primarily by pointing out all we can do for […]Read More

5 Key Credit Reminders & Misconceptions

February 7, 2020/in Homebuying, Interest Rates, Our Blog

#1 – Consumer credit scores are not the same as mortgage credit scores. Borrowers often share their credit scores with us, as if those scores are set in stone. Those scores, however, are often generated by online “consumer” oriented scoring models that are much less stringent than the scoring models mortgage lenders employ. As a […]Read More

Signing Bonuses = Higher Rates; No Free Lunch In Mortgages

February 6, 2020/in Interest Rates, Our Blog

Heejin and I have been offered seven-figure “signing bonuses” (in exchange for aligning with a new mortgage bank) on numerous occasions by large mortgage banks trying to lure JVM under their umbrellas. We always say “no thank you” without hesitation b/c we know for certain that there are no free lunches in the mortgage world. […]Read More

10% Down With No PMI; Overrated?

February 5, 2020/in Down Payment, Our Blog

Most agents and buyers know that Private Mortgage Insurance (PMI) is usually necessary when a buyer puts less than 20% down. What most people don’t know is that almost every lender offers a “10% down loan with NO PMI,” even though loan officers often market these products as “unique offerings.” 10% down with no PMI […]Read More

Capital Gains Taxes On Real Estate

February 3, 2020/in Our Blog, Real Estate

CAPITAL GAINS 101 The IRS and many states collect capital gains taxes on the difference between what someone pays for an asset (their “basis”) vs what they sell it for. This tax applies to most assets such as stocks, cars, boats and of course real estate. EXCLUSION AMOUNTS The IRS allows property-sellers to ignore capital […]Read More

Excessive Worrying About Tech Disruptions

January 31, 2020/in Our Blog, Self Education

JVM WILL DIE (or change) (a lot) 10 years from now JVM Lending will not exist… in its current form (or anything even close). The same holds true for ALL of the major real estate brokerages we work with. AI, 5G, Cloud Storage, Bots, and every other aspect of tech will without a doubt massively […]Read More

Cash Out Refis – What, Why, When; Rates?

January 30, 2020/in Our Blog, Refinance

Reminder: Owner Occupancy Ratios in condo complexes are irrelevant if a buyer intends to occupy the unit. Owner Occ Ratios can be as low as 10% and Fannie or Freddie will still finance the unit. FHA and investment purchases, however, require owner occ ratios to be over 50%. CASH OUT REFIS Almost 90% of all […]Read More

Why I Was So WRONG About Interest Rates Rising – Part CCXXIX

January 29, 2020/in Interest Rates, Our Blog

If you Google the word “Wrong,” the below picture pops up in the results: OK… that is a real photo taken at a holiday party (in a photo booth – thank you Danny Winkler) when I really did think rates were going to shoot up. BUT, I am pretty sure I was not thinking about […]Read More

#1 Reason We’re Not In A Housing Bubble; Life Events & Housing

January 27, 2020/in Homebuying, Our Blog

I am asked every week by friends, family, team members and clients if I think “now is still a good time to buy” and “do I think we are in a housing bubble.” Even though I blog about this often, everyone still wants reassurance. And some of the strongest reassurance I have yet to see […]Read More

Simple Tech Solutions That Work! Insights from Top Agent Who Uses Them

January 24, 2020/in Marketing, Our Blog

I have attended hundreds of symposiums, talks, seminars, expos and events of every sort over the last 30 years – giving me more than enough exposure to learn what types of events are the most interesting and rewarding. The events I like the most are: (1) short overall (a few hours at most); (2) comprised […]Read More

Condition/Foundation Issues – How To Handle?

January 23, 2020/in Homebuying, Mortgage Industry, Our Blog

Agents often ask us about properties with condition issues and last week was no exception when an agent was looking at a property with major foundation problems. In light of this, I thought it was time to set out some of the options once again. I. DON’T TELL US 😊 (NON-DISCLOSURE) If lenders/underwriters are made […]Read More

Smoke and Carbon Monoxide Detectors Required – Contract Provision?

January 22, 2020/in Appraisals, Our Blog

Time and again, we have to send appraisers back out to re-inspect properties to verify the presence of both Smoke and Carbon Monoxide (CO) Detectors. This is frustrating for us b/c the detector requirements have been in place in CA since 2010, the re-inspections can delay closings, and agents often inexplicably get upset with us […]Read More

Apology to Coldwell Banker! Rent Back & Max Financed Property Reminders

January 17, 2020/in Marketing, Our Blog

I want to extend my sincerest apology to Coldwell Banker, and particularly to all of the excellent Coldwell Banker agents we get to work with regularly! On Monday, I blogged about the shutdown of an excellent brokerage and brand (Climb) and my only point was to remind agents of the importance of fully establishing their […]Read More

4 Options for Buying Homes for Parents

January 16, 2020/in Homebuying, Our Blog

We are often asked if buyers can purchase a property with “owner occupied” financing for their parents. Our answer is “it depends,” but the frequency of the question prompted me to set out four options below. I. SECOND HOME “Second home” financing is almost as favorable as owner-occupied financing, so this is a great option […]Read More

Legal Sources of Funds; FHA Purchase to $800,000

January 15, 2020/in FHA, Mortgage Industry, Our Blog

I received the following questions from a very seasoned real estate agent the other week: “I have a 3.5% down offer for $795,000 on my desk – A. Does FHA even go that high; and B. What are the legal sources of funds for a down payment and closing costs?” MAX FHA LOAN AMOUNTS In […]Read More

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