Posts

Mortgage Reminders: My Inconsistent Fed Comments; Rent Backs; Owner Occ Ratios; Attached PUDs/Townhomes; 12 Condo Considerations

Here are a few random reminders. Powerless Fed Vs. Inflation-Causing Fed. In response to my recent blog about the Fed being “Powerless,” I got this comical point from an agent I really enjoy hearing from: “I know they say that great minds can hold contrary thoughts with ease, but how do you square a powerless Fed […]Read More

Offer Rent-Backs To Get Offers Accepted; ARMS Are Back!

ONE MORE REASON JUMBO RATES ARE LOWER THAN CONFORMING After reading this recent blog, a friend of mine who owns a mortgage bank reminded me of one more reason why jumbo rates are lower than conforming rates. Big banks will sometimes buy loans at a loss because they expect to make money by “cross-selling” other […]Read More

Apology to Coldwell Banker! Rent Back & Max Financed Property Reminders

I want to extend my sincerest apology to Coldwell Banker, and particularly to all of the excellent Coldwell Banker agents we get to work with regularly! On Monday, I blogged about the shutdown of an excellent brokerage and brand (Climb) and my only point was to remind agents of the importance of fully establishing their […]Read More

Pending Divorce Can Be A Deal Killer; Rent Backs; Delayed Financing

Here a few quick reminders: Pending Divorces can be deal killers. This is b/c underwriters need to know what the final obligations will be for both spouses before they can issue a loan approval. If a divorce is pending with no finalized and recorded divorce decree, underwriters have no way of knowing what a spouse’s […]Read More

60 Day Rent Backs Allowed; Good for Sellers Who Need New Home

Quick Reminder: Lenders allow rent-backs for as long as 60 days after close of escrow. Hence, sellers can remain in a home and rent it back from buyers for 60 days, giving the sellers time to find and move into a new home. Jay Voorhees Founder/Broker | JVM Lending (855) 855-4491 | DRE# 01524255, NMLS# 335646Read More