Tag Archive for: guidelines

Appraisal Comps: “Just the facts, Ma’am” – STUFF EVERY AGENT SHOULD KNOW!

“The story you are about to hear is true; only the names have been changed to protect the innocent.” That was the opening line from the famous 1960s TV series […]Read More

Missed Rent Payments Are OK – Or Are They?

WOULD YOU DO THIS LOAN? It was sometime in 2006 when a rep I knew well from the now defunct Washington Mutual (WaMu) called me to ask if I personally […]Read More

Seller & Lender Credit Guidelines

Here are a few quick reminders/guidelines for Seller and Lender Credits. If a credit is specified to be for a repair anywhere in a purchase contract, the repairs will have […]Read More

Created Full Time Appraisal Manager Position at JVM; Necessity & Scope

We recently created a full time Appraisal Manager Position at JVM, devoted exclusively to JVM’s appraisals. We are the only lender with an Appraisal Manager with this scope of duties […]Read More

Why Other Lenders Can Sometimes Do Loans JVM Can’t

Our Mortgage Analysts (MAs) pre-approve over 200 files every month. They see more files in a single month than the average loan officer sees in five years. This is why […]Read More

Loans = Compliance, Box-Checking, Salability; Not Logic Ever

We have a jumbo borrower right now who is pulling his hair out b/c he is extremely well-qualified but still getting conditioned to death by an underwriter. His file is […]Read More

Unpermitted Space: No Value; No Gross Living Area; No Stove; Bath OK

Un-permitted space (including baths) and improvements are usually allowed. Here are a few guidelines: Appraisers cannot give value to the space or count it in gross living area or room-counts. A house with permitted […]Read More

Big Changes In FHA! Or Not…

FHA made a large number of changes in underwriting guidelines recently and Realtors are asking how this will affect buyers. For about 99% of our FHA buyers, the changes will […]Read More