Tag Archive for: lending guidelines

Southwest Airlines and Mortgages; BEWARE!!!

What Kind of Loan Never Defaults? In the 1990s, I had one destination for borrowers with a lot of equity and savings, and excellent credit: First Nationwide/Cal Fed. The lender […]Read More

How Do “QM” Rules Affect Lending? They Don’t At JVM Lending

We have discussed new "QM" (Qualified Mortgage) rules several times, and how the new rules are supposedly tightening lending guidelines. QM prohibits loans with negative amortization, interest-only payments, balloon payments, and terms greater than 30 years. QM also prohibits loans in which the points and fees are greater than 3% of the loan amount.Read More