Tag Archive for: mortgage brokers

Why We Don’t Align With UWM/Broker Channel

Most Innovative Company in Mortgage One of the most innovative companies in the mortgage space is also the largest wholesale lender. As a reminder, there are Three Primary Channels For […]Read More

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

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

Internal Appraisal Panel; Why We Left the Broker Channel; Never Pushing Values

APPRAISER WHO LIVED 100 MILES FROM SUBJECT PROPERTY In October, I shared an appraisal horror story about a huge Appraisal Management Company hiring an appraiser who lived 100 miles away […]Read More

“In House” or Direct Lending Explained

STALLED LOANS DURING OUR “BROKER DAYS” Back when we “brokered” all of our loans to other “wholesale” lenders, major underwriting issues would arise, as they often do with all purchases. […]Read More

Mortgage Bank Vs. Broker Vs. Commercial Bank; There Is A Difference

There are three primary channels for funding mortgages: (1) Commercial Banks, (2) Mortgage Banks, and (3) Brokers. There are significant differences between the channels. Commercial Banks dominated the mortgage world […]Read More