Blog - JVM Lending

Today’s Subprime Is NOT Like Yesterday’s Subprime!

April 6, 2018/in Our Blog /by lindseyh@jvmlending.com

100% FALSE STATEMENT ABOUT SUBPRIME I received a copy of an internally circulated newsletter from a huge real estate firm with the following 100% incorrect statement about subprime lending: “Subprime loans – the type that fueled the Financial Crisis – are making a comeback in a big way. The total volume of loans issued in […]Read More

Equity Lines = Best Bridge Loans

April 5, 2018/in Our Blog /by lindseyh@jvmlending.com

BUYING BEFORE SELLING CURRENT HOME We frequently have borrowers who want to buy a new home before selling their current home. They are afraid if they sell first they will end up either homeless or under undue pressure to buy a home they don’t really like. These people invariably ask about bridge loans (temporary cash […]Read More

3 Best YouTube Channels For Small Business

April 4, 2018/in Our Blog /by lindseyh@jvmlending.com

Because Heejin and I are nerds in the extreme, our idea of a really fun Saturday night is sitting home and watching educational YouTube videos (we’re over TED Talks). We like them short, educational and inspirational for business. Below are three YouTube Channels we absolutely love. 1. Company Man This excellent channel consists of ten […]Read More

Why Rates Will Rise to 5% By Year End; Observations and Effects

April 2, 2018/in Our Blog /by lindseyh@jvmlending.com

TAX TIP The filing deadline this year is not until April 17th, as April 15th is a Sunday, and the 16th is a holiday. Thank you Rob Chrisman for that tip and today’s blog topic (credit where credit is due). WHY RATES WILL HIT 5% My rate quote (below) for today’s blog is at 4.375%, […]Read More

Refi’s Die; Mortgage Industry Shakeout; Cheese Moving

March 30, 2018/in Our Blog /by lindseyh@jvmlending.com

In 2012, 72% of mortgage industry volume consisted of refinancings, or”refi’s” for short. In 2017, refi’s dropped to only 37% of total volume – the lowest percentage in two decades. This is from a recent WSJ article that we will reprint below this blog. 70% of Quicken’s 2017 business was from Refi’s, and that percentage […]Read More

“Love Letters” to Sellers Work! How & Why

March 29, 2018/in Our Blog /by lindseyh@jvmlending.com

URBAN FARMER IS #34 OUT OF 36 OFFER In November I blogged about two urban farmers getting the house of their dreams even though their offer was one of the lowest (#34 out of 36!). The buyers connected exceptionally well with the seller who shared their love for urban farms. You can read the full […]Read More

Best Lender Vs. Best Friend; Does It Matter?

March 28, 2018/in Our Blog /by lindseyh@jvmlending.com

WHY A LENDER’S NAME & REPUTATION MATTER We recently received the below note from a buyer’s agent. We should hire her for all of our marketing because this single note says it all 🙂 “You know, our offer was accepted because of you guys. The listing agent knows how good you are and it really […]Read More

If Property Won’t Appraise, Change Financing!

March 26, 2018/in Our Blog /by lindseyh@jvmlending.com

AGENT KNOWS PROPERTY WON’T APPRAISE We have a buyer who is willing to offer $750,000 for a property with 10% down. The problem is that, according to her agent, “the property will never appraise for more than $680,000, b/c there are no comparable sales anywhere above $680,000.” There are also cash offers so the seller […]Read More

MAKE Yourself Lucky! Article Explains How

March 23, 2018/in Our Blog /by lindseyh@jvmlending.com

One of the most interesting things about the “How I Built This” podcast is how often founders attribute their success to luck. But, according to a recent article in the WSJ, people underestimate how much they create their own luck. The article is short, interesting and very encouraging for anyone in sales or in business […]Read More

“In House” or Direct Lending Explained

March 22, 2018/in Our Blog /by lindseyh@jvmlending.com

STALLED LOANS DURING OUR “BROKER DAYS” Back when we “brokered” all of our loans to other “wholesale” lenders, major underwriting issues would arise, as they often do with all purchases. Our files would then come to a halt and prevent us from closing on time. We were not allowed to speak with our underwriters directly […]Read More

How Mortgage Banks & Loan Officers Get Paid

March 21, 2018/in Our Blog /by lindseyh@jvmlending.com

We are often asked by borrowers and Realtors how we, as a lender, get paid. The answer is that JVM gets paid if and only if a buyer’s loan closes. On a loan with no discount points, our entire commission is earned when our mortgage bank sells the loan to an investor for a premium […]Read More

VA vs. FHA; Differences & Similarities

March 19, 2018/in Our Blog /by lindseyh@jvmlending.com

Realtors often confuse VA and FHA guidelines b/c the loans are somewhat similar in that they are both backed or insured by the Federal Gov”t. There are, however, many differences as well. This blog will set them all out. Appraisals – Similar The appraisal requirement for FHA and VA are largely the same. Our Appraisal […]Read More

Other Lenders’ Reviews – Horror Stories

March 16, 2018/in Our Blog, Uncategorized /by lindseyh@jvmlending.com

READ THE REVIEWS! We tout our 500+ Five Star Reviews so often, we’re becoming a broken record. So, I’ll resist the urge today (even though I just did it again :), and instead focus on our competitors’ reviews. I am not doing this to just beat up on competitors, as I know that is not […]Read More

Pre-Quals Vs. Pre-Approvals; Huge Difference!

March 14, 2018/in Our Blog /by lindseyh@jvmlending.com

PANICKED BORROWER ON VERGE OF LOSING DEPOSIT We had a borrower in contract come to us a few weeks ago in panic mode. The reason? He was on the verge of losing his earnest money deposit b/c his loan had just blown up at America’s largest mortgage lender. The loan officer had only done a […]Read More

Digital Marketing Is Hard! We Know B/c We Did It Wrong; Wasted $1,000s

March 12, 2018/in Our Blog /by lindseyh@jvmlending.com

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

Mark Cuban: “More Sales Cures All”

March 9, 2018/in Our Blog /by lindseyh@jvmlending.com

RATES AT 2014 LEVELS We have not seen interest rates this high since 2014, and both the mortgage and real estate industries are in panic mode b/c volumes are dropping. MARK CUBAN And, it reminded me of a blog I wrote in 2014 where I quoted something Mark Cuban said – “More Sales Cures All.” […]Read More

Appraisal Horror Story; Appraisal Success Story! “Appraisal Manager”

March 8, 2018/in Our Blog /by lindseyh@jvmlending.com

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

Primary Residence Capital Gains Exclusion – Boring But Necessary

March 7, 2018/in Our Blog /by lindseyh@jvmlending.com

Homeowners can usually avoid capital gains taxes when they sell their primary residence for a profit. Individuals can exclude $250,000 of gains, and married couples can exclude $500,000 – if they meet certain guidelines. Most people in the real estate and mortgage industry are aware of this in general, but they don’t understand the specifics […]Read More

Condos Must Be FHA & VA Approved; Townhomes & PUDs Don’t Need FHA/VA Approval

March 5, 2018/in Our Blog /by lindseyh@jvmlending.com

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

Seth Godin’s Excellent Blog; Short, Sweet & Always Good

March 2, 2018/in Our Blog /by lindseyh@jvmlending.com

One of the many benefits we’ve received from our coaching network was an emphatic recommendation to subscribe to Seth Godin’s Blog. We were reluctant b/c we get so many emails and info pieces already. But upon our friend’s urging, we did subscribe and we love it b/c they are always excellent and very short. So […]Read More

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