JVM’s Blog

EXPANDING BEYOND THE BAY AREA Last year we decided to expand beyond the Bay Area b/c our value propositions (speed, communication, appraisal quality, etc.) had become so established and effective. DIGITAL MARKETING Our primary goal was to market to Realtors to establish more referral relationships. The only way to do this on a mass scale […]Read More

APPRAISAL HORROR STORY Back when we were in the Broker Channel (when we sent loans to outside lenders for underwriting), we ordered a purchase appraisal in a high-end Bay Area community called Orinda. The lender forced us to order appraisals through a nationwide Appraisal Management Company that kept most of the appraisal fee itself and […]Read More

We are asked this so often that we thought it warranted a reminder. An entire condominium (condo) complex needs to be FHA or VA approved before a unit within the complex is eligible for FHA or VA financing. Townhomes and PUDs (Planned Unit Developments) do not need to be FHA or VA approved, even if […]Read More

“Thank you again for your hard work… It’s amazing you guys can close an FHA transaction in 2 weeks…the seller couldn’t believe how fast it happened – lol” We received the above comment from a very seasoned and busy escrow officer yesterday, and we thought we’d share it 🙂 WHEN BRAINS & TRAINING BEAT EXPERIENCE […]Read More

ALL VODKA’S ARE THE SAME Vodka is just pure alcohol with some water added, and there is no difference among the brands. I have been saying this repeatedly for years, much to the annoyance of friends and co-workers. My assertion was backed up recently by this excellent Planet Money Podcast, called “The Vodka Proof.” According […]Read More

Our first time homebuyers almost always ask about special financing programs for first time homebuyers. With the exception of a few down payment assistance programs and city-specific programs, there are no effective first time buyer programs other than good old fashioned FHA. JVM has access to various first time buyer programs, but they have significant […]Read More

BAD COACHING EXPERIENCE Years ago, I had a business coach insist that I join the Rotary Club. Nothing against the Rotary Club, but it was not a fit for me and it did not help our business. The Coach was also egotistical and bombastic, and I did not enjoy his calls. I also didn’t enjoy […]Read More

FIVE STAR REVIEWS ARE AN ABSOLUTELY NECESSITY IN 2018 Numerous five-star reviews are an absolute necessity in 2018. You need them on multiple platforms as well. We sponsored a huge Realtor Mastermind Event on Monday where a gentleman named Cody Gibson (a huge KW producer and coach) spoke. One of the big takeaways was his […]Read More

PANIC OVER RISING RATES Borrowers, Realtors, investors and the markets as a whole all seem to be in a panic over rising interest rates. The only people who should be worried, however, are “refi-ologists” (businesses and companies who focus only on refinancing). For starters, higher rates can be a good thing for several reasons, as […]Read More

“FREE DAYS” NECESSARY FOR FRESH IDEAS The renowned business coach Dan Sullivan’s primary message for all entrepreneurs is to work less. His system involves three kinds of days: Free Days, Focus Days and Buffer Days. Free Days involve nothing work related. Focus Days involve money-making activities. And Buffer Days are for preparation. Sullivan is adamant […]Read More

RETURN OF OUR 14 DAY CLOSE! Closing in under 15 days is hard! Files need to be pre-underwritten, appraisals have to come back in five days, systems need to be airtight, and everyone needs to be on board! This is why we were amused to see some of our competitors tout 15 days closes when […]Read More

INTEREST RATES AT JVM We want to address interest rates again b/c we sometimes get compared to some of the large banks offering promotions. LOWERED OUR RATES First and foremost, our rates are now lower than ever, relative to our competitors. We have been able to lower our rates for several reasons: (1) New Investors: […]Read More

INTEREST RATES PLUMMET AFTER 2008 MELTDOWN After the 2008 meltdown, mortgage interest rates plummeted from the mid 6% range all the way down to the low 3% range at various times. More recently, mortgage rates have hovered in the 4% range. Over the last ten years, I have repeated pundit predictions of imminent rate increases […]Read More

As soon as we receive a low-value appraisal report, we work quickly to analyze all options (usually in the order below) with both the realtor and the client. We always strive to resolve a low appraisal issue within 1 business day, as long as both the realtor and borrower are fully responsive and on board. […]Read More

We have a lot of contests in our office, and fortunately many involve alcohol :). Most recently we had a contest for the best Pinot Noir under $30, and we thought we’d share the results. Walt Blue Jay was the clear winner with 5 votes! Further results below: WINNER: Walt Blue Jay – $30.00 2 […]Read More

We often have self-employed borrowers come to us who are rolling in profits and cash, with perfect credit and everything else a good borrower needs. BUT, they do not qualify for conforming financing. The reason is that they often lack the necessary income history. We almost always have to average the last two years of […]Read More

2 KITCHENS USUALLY NOT ALLOWED This question comes up often, so we thought we’d revisit it. Lenders will usually lend against a property with two kitchens IF both kitchens have permits. If one of the kitchens is not permitted (also known as unwarranted), lenders will usually not lend against the property, primarily b/c the extra […]Read More

BUSINESS DEPENDS ON REPUTATION AND TESTIMONIALS Much of our business success depends on referrals and online reputation, and prioritizing this part of our business is essential to thrive in today’s market. With respect to borrower testimonials, we have had enormous success with Yelp, with over 250 Five-Star Reviews at last count. The mainstay of our […]Read More

OK – this probably is boring, but it is super important b/c almost every competitive mortgage loan available requires some sort of income verification and debt ratio calculations. This is a good thing b/c it ensures borrowers can actually make their payments (unlike the pre-2008 mortgage world). Many borrowers and Realtors are confused about debt […]Read More

PREDICTING THE FUTURE In 1893, Chicago hosted a hugely successful “World Fair” where governments, companies and individuals showcased the most promising technologies of the time. Scientists and inventors were asked in a poll to name the technologies that would most influence the next hundred years. And – not one person named the automobile. They simply […]Read More

GREAT COLUMN ABOUT HAPPINESS Scott Galloway (CEO of L2 Inc) recently tweeted this excellent column from the NY Times about the key to happiness, and I thought it was well worth sharing. The column is titled “Happiness Is Other People” and can be found here. ONE HOUR FOR GROOMING? The first interesting thing that really […]Read More

ORDERING RUSH APPRAISALS TO SPOT CONDITION ISSUES UP FRONT One of the reasons we order ALL appraisals as a “rush” (and eat the rush fee :)) is b/c it allows value and condition issues to surface right away. If we get the appraisal back within five days, we have ample time to address problems, or […]Read More