We had two purchases come to us in the last week that were denied at other lenders because of High Debt ratios. Remember that different lenders have different debt ratio ceilings, and relying on a single lender is risky. Most of our lenders cap ratios (per Fannie Mae guides) at 45%, but Met Life goes to 50% (Freddie Mac) and Plaza goes all the way to 60%!! (Freddie Mac again).
Lastly, do NOT fear the new disclosure regulations; the fears are over-stated, and we know how to navigate our way through them. Some of the large banks are spreading rumors that brokers will not be able to handle the new regulations, which is absurd.
Lastly, please do no forget that we have “banking”; if the broker side ever gets too cumbersome (and it has not) we will hop back into banking. But, right now, the Wholesale Broker Channel is far more competitive and flexible. We use our many options to do what is best for our clients.
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 1197176, NMLS# 310167