Tag Archive for: guidelines

We’re Seeing More Non-Warrantable Condos Than Ever Before

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After the 2008 Great Financial Crisis, we saw an enormous number of non-warrantable condos. The biggest issues then were HOA (Homeowners Association) dues delinquencies and under-funded HOAs in general, as […]Read More

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

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“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?

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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

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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

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JVM Lending is the only lender with an Appraisal Manager with this scope of duties and training. It is absolutely necessary, however, because appraising has become so complex, due to guidelines, shortages, CU scores, and the lack of comps in hot markets.Read More

Why Other Lenders Can Sometimes Do Loans JVM Can’t

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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

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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: What Appraisers Can and Can’t Count

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Appraisers can’t count unpermitted additions toward a home’s value, but some features like baths and wet bars may still be acceptable.Read More

Big Changes In FHA! Or Not…

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FHA’s latest guideline updates may sound significant, but most homebuyers will see little to no impact. Learn what’s actually changed and who it affects.Read More