Posts

Why Heejin & I Turned Down $10 Million

We know a loan officer with a large team who does about half of JVM’s volume – and he was offered a $6 million “signing bonus” to move to another mortgage bank. He turned it down, however, and remained where he was (I will explain why below). With higher rates and refis all but dead, […]Read More

Need Income and Bonus History

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

Showing Off vs. Sharing Wealth; Sharing Is A Lot Cheaper

I was just reminded of a famous story in our industry about a mortgage company owner who had a great year, so she bought a mansion and hosted her entire company for a holiday party. She spared no expense and even made a grand entrance down her staircase to ensure she made the maximum impression. […]Read More