Tag Archive for: commercial banks

What Happened To The Jumbo Loan Market? Why You Should Be Worried!

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Agents and loan officers dependent upon jumbo mortgages should be worried – very worried! But, before I explain why, I want to touch on rates today, as they are lower […]Read More

Jumbo Loans In Peril Because Of Commercial Bank Issues

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The former owner of RPM Mortgage (now merged with Cross Country) told me about a particularly harrowing ordeal he went through in 2008. His company had locked tens of millions of dollars of loans with the intention of selling them to particular investors when they closed.Read More

Commercial Banks Pulling Out Of Jumbo Market; Why & What It Means

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Commercial banks are pulling out of the jumbo market rather suddenly – after dominating it for the last year or so. The question is why and what does it mean? […]Read More

The True Cost of “Low Rate” Commercial Bank Mortgages

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Some regional commercial banks are buying the jumbo loan market right now with very aggressive rates. BUT – they come with an enormous cost that most borrowers do not take […]Read More

The 3 Primary Mortgage Lending Channels: Banks, Mortgage Banks & Brokers

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JVM was in the mortgage broker lending channel for years but we left because we had appraisal and service issues, and we needed far better jumbo rates. Brokers do not underwrite or fund loans. They only “originate” loans and then send them to outside “wholesale” lenders for underwriting and funding. The broker channel dominated mortgage lending prior to the 2008 meltdown.Read More