Tag Archive for: mortgage broker

Chaos In The Mortgage Broker Channel (UWM Sues Its Customers); Fascinating Observations

I have blogged about the three channels for mortgage banking several times. The channels include (1) banks and credit unions that offer mortgages along with checking, savings and commercial lending; (2) mortgage banks that only underwrite and fund mortgages (JVM’s channel); and (3) mortgage brokers who only originate loans but package and submit them to other “wholesale lenders” that underwrite and fund them.Read More

HUGE News In The Mortgage World! Nobody Outside Of Mortgages Noticed… Why?

This was a front-page story in the WSJ yesterday: United Wholesale Mortgage Goes Public. United Wholesale’s (UWM’s) valuation was $16 billion and they will get a cash infusion of over […]Read More

Our Rates Are Lower; How & Why? Rate Surveys & Lending Channels

INTEREST RATES AT JVM We want to address interest rates again b/c we sometimes get compared to some of the large banks offering promotions. LOWERED OUR RATES First and foremost, […]Read More

Why We Stopped Brokering Loans & Started Banking: Appraisal Issues

JVM was a “mortgage broker” until 2014. Instead of underwriting and funding loans in-house like we do now (as part of a “mortgage bank”), we brokered our loans through various […]Read More

JVM Is a Both a Mortgage Banker and a Broker; Advantages to Both

JVM Lending is and has been both a “mortgage broker” and a “mortgage bank” for some time now. Both channels have significant advantages. We avoided a mortgage bank affiliation for […]Read More

Mortgage Broker vs. Direct Lending Bank

A few weeks ago, one of our Realtors frantically called b/c the purchase of her listing blew up after 30+ days in escrow. The buyer’s lender, a direct-lending “bank,” had […]Read More