JVM’s Daily Blog

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Why Appraised Values Have To “Season” After A Purchase

“I just bought the property for $800,000 but it is worth $1,000,000 now, and I would like to refi using the higher appraised value…” We get emails like the above […]

August 20, 2021 3 min read
Family of three sitting on couch in new home with moving boxes

#1 Trait Super Successful People Share

CAR DEALER SELLS TO… ANYONE AND EVERYONE In the late 1970s, when I was in high school, I was hitchhiking on Tatum Boulevard in Phoenix, AZ b/c… I had just […]

August 19, 2021 3 min read
#1 Trait Super Successful People Share

When “Big Bank” Purchases Die And Come To JVM; What We Learn

A listing agent we know well called us recently b/c one of his listings died at Chase at the 11th hour – and he wanted us to salvage the deal. […]

August 18, 2021 3 min read
When “Big Bank” Purchases Die And Come To JVM; What We Learn

Learning From Amazon’s Many Failures; Failing To Succeed?

We try various initiatives all the time at JVM – and often fail spectacularly. A few things that come to mind are a team competition we set up in 2012 […]

August 16, 2021 4 min read
Amazon store front at night

Missed Rent Payments Are OK – Or Are They?

WOULD YOU DO THIS LOAN? It was sometime in 2006 when a rep I knew well from the now defunct Washington Mutual (WaMu) called me to ask if I personally […]

August 13, 2021 3 min read
Missed Rent Payments Are OK – Or Are They?

Inflation Up; Rates Up; Explained In Terms of Porsches; All About “Buying Power”

THE REFI BOOM THAT WASN’T When rates plunged a few weeks ago in response to renewed COVID concerns and weak economic news, the entire mortgage world was gleeful b/c we […]

August 12, 2021 3 min read
Inflation Up; Rates Up; Explained In Terms of Porsches; All About Buying Power

Rent Payments & Rental Income To Qualify

Here is some important info about using rental payment history and rental income to qualify. GREAT NEWS: “DU” USES RENT PAYMENTS NOW On the good news front, Fannie Mae announced […]

August 11, 2021 2 min read
Rent Payments & Rental Income To Qualify

Lending In The Age Of Lying; “Reframing” Is OK; Fraud Is Not

MORTGAGE BANK OWNER EXITS BUSINESS PRIOR TO 2008 Heejin and I were chatting recently with one of the few major mortgage bankers to have the foresight to get out of […]

August 9, 2021 4 min read
Lending In the Age of Lying;

Holy High Appraisal Fees, Batman! Please Warn Clients!

Economist Milton Friedman famously said, “Inflation is always and everywhere a monetary phenomenon.” (meaning that it is always caused by increases in the supply of money) But, when it comes...

August 6, 2021 4 min read
Woman with hands on her hips facing window

Rent Vs. Buy Comparison – Follow Up To Responses; ADU Follow Up Too

Yesterday, I blogged about Rent Vs. Buy Comparisons In The Age of Inflation, and I got a surprising amount of feedback, including the following: “I put 5% down, and my […]

August 5, 2021 3 min read
Rent Vs. Buy Comparison - Follow Up To Responses; ADU Follow Up Too

Rent Vs. Buy Comparisons In The Age Of Inflation

$500,000 HOME APPRECIATES $200,000 IN 9 MONTHS My wife Heejin bought a house in Plano, TX, in November for $519,000. We put down 20%, and our PITI is $2,725. The […]

August 4, 2021 3 min read
Rent Vs. Buy Comparisons In The Age Of Inflation

Using PMI To WAIVE Appraisal Contingencies

Many homebuyers do not realize that PMI can be an option for those who might want to make offers with no appraisal contingencies. This, of course, is a great idea, […]

August 2, 2021 3 min read
Using PMI To WAIVE Appraisal Contingencies

Why Housing Is Actually More Affordable Today Than In 1980!

WHY HOMES ARE MORE AFFORDABLE TODAY In the midst of my daily excursion into the bowels of Twitter, I saw a great tweet from the Center for Human Progress. It […]

July 30, 2021 2 min read
Little pink house

How To Use Single Premium/Lump Sum PMI To Cover Appraisal Shortfalls

Recently, I blogged about why Private Mortgage Insurance is “Awesome,” pointing out why its stigma from the 1990s is so underserved. One of the many benefits of PMI is using […]

July 29, 2021 3 min read
How To Use Single Premium/Lump Sum PMI To Cover Appraisal Shortfalls
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