JVM’s Blog

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Please Share Our Content; How Fast Will The Economy Recover?

We love it when readers share our content – so please feel free to continue doing so. We only ask for a credit and a “linkback” to our website whenever […]

April 27, 2020 2 min read
two women face each other in front of an office building window, both wearing suit jackets while the woman on the right holds a silver mac laptop, both talking about the post COVID-19 economic recovery

Interest Rates/Mortgage Industry Update; When NOT to File Taxes

Interest rates have come back down but they are still about 1/4% to 3/8% higher than where they were when they bottomed out on March 9th. This is because the […]

April 24, 2020 3 min read
man in profile sitting on gray couch in living room wearing a gray jacket looks at a laptop sitting on a coffee table filing taxes

Qualifying After Returning to Work

Many people are wondering how soon laid off and furloughed borrowers will qualify for mortgage financing once they return to work. EMPLOYMENT GAP UNDER SIX MONTHS If the layoff or […]

April 23, 2020 2 min read
Texas oil rig out of commission due to COVID-19 shutdowns

Goldman Sachs Loves Housing Still; COVID-19 Will Push People Away From Cities

In October, I blogged about my millennial nephew paying $4,250 per month in rent in San Francisco. I pointed out that the property he was renting was worth about $2 […]

April 22, 2020 3 min read
home on a sea side cliff with trees and brush in Carmel California where many are moving to this suburbi to avoid higher rent and longer commutes and safer overall living

Borrowers In Forbearance See Credit Whacked! Purchase Market Lives: Texas Re-opens

FORBEARANCE IMPAIRS CREDIT – DESPITE “CARES ACT” On Saturday, David Stevens, former President of the Mortgage Bankers Association and the current CEO of Mountain Lake Consulting, posted a...

April 20, 2020 3 min read
A woman wearing a respiratory mask is using her laptop at home to look up her credit score and check if it has been impacted by her mortgage forbearance.

Elephant In Room: Housing Prices; HELOCs Too

Chase stopped accepting applications for home equity lines of credit (HELOCs). I mentioned this previously, but in 2008, HELOC lenders not only stopped taking applications but they also froze...

April 17, 2020 3 min read
a young woamn wearing a sweater, jeans, and glasses, sits on her couch and looks at a laptop for updates on HELOCs

What Your Clients Want to Know; Wage Inflation Too

All of our clients – past and present – want to know two things right now: (1) what is really happening to mortgage interest rates; and (2) what is happening […]

April 16, 2020 3 min read
Woman sits at home on the couch with her two young children and looks up her home value using Homebot on her tablet.

The “No Out of Pocket” Scam; Worst Advice Ever!

Borrowers often send us refinance proposals from other lenders to review so we can either beat the proposal or give our blessing. One of the things that always scares us […]

April 15, 2020 3 min read
Blonde woman standing in front of her house with an orange door after closing on her refinance.

Jumbo Market Lives; Inflation = Windfall; Why Lenders Are Terrified of Forbearances

I am repeating this b/c I am still getting so many questions: The Jumbo Market Definitely Lives. Jumbo buyers with 20% down can buy up to $1.6 million in CA […]

April 13, 2020 3 min read
A mortgage servicer employee wearing a suit, walks along a wall of windows, where other people are congregated, overlooking a skyscraper where a mortgage bank which handles forbearances is located

New Reasons to Buy Now; Conforming Loan Limit Reminders

THE CRAZIEST THING HAPPENED LAST WEEK… A seller in an extremely hot market agreed to $15,000 of credits and concessions after the inspection reports came back. We are still seeing […]

April 10, 2020 2 min read
bay area home located made of brown concrete overlooks the ocean

COVID-19 Mortgage Updates; Interest Rates; Jumbo; Guidelines; Appraisals

Below are a series of important COVID-19 updates as they relate to the mortgage industry. INTEREST RATES Jumbo interest rates are now about 1% higher than conforming rates. This is […]

April 9, 2020 3 min read
French country style home that was purchased with Jumbo financing. The jumbo market has returned finally amid COVID-19 crisis concerns.

5 Bold Predictions For The Post COVID-19 World; COVID-19 Updates; Reason to Refi

Forbes Publisher, Rich Karlgaard, published 5 Bold Predictions for the Post COVID-19 World. He imagined what we might see by the Spring of 2021 and predicted the following: A rebounding […]

April 8, 2020 3 min read
Couple travels together abroad wearing respiratory face masks. Forbes Publisher, Rich Karlgaard predicted that by Spring 2021 the world will see fully resumed global travel, a rebounding world economy, and inflation among other things.

Private Money In Lieu of Non-QM/Bridge Loans; JVM/Mortgage Bank – Here to Stay; Eating EMDs

PRIVATE MONEY = TEMPORARY SOLUTION Both agents and buyers are reaching out to us to save transactions that have blown up elsewhere b/c both bridge loan and non-QM financing has […]

April 7, 2020 3 min read
A block of residential houses with colorful roofs. Currently, the best/only option for many homebuyers with sufficient equity or down payment funds is “hard money” or “private money.”

1st/2nd Combos Instead of Jumbo; Backup Offers; Temporary Loans; Self-Employed Borrowers

1ST/2ND COMBOS INSTEAD OF JUMBO This is a reminder that 1st/2nd combo financing remains a great alternative to jumbo.  CA 2nd liens are Home Equity Lines of Credit (HELOCS) while […]

April 6, 2020 3 min read
a paved driveway lined with lights lead towards a large white home at sunset where 1st/2nd combo financing was used
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