We spoke with a former loan agent (we greatly respect) who is now with another lender (we greatly respect). That lender has access to rates similar to ours, and they have a system in place that works for them. The problem is that their closing period for purchases is over 60 days. Their system, while effective for their purposes, is just too slow for many of their clients. We hear similar stories regarding other major lenders time and again.
We can now close in under 30 days almost always. We have certainly made our share of mistakes that have delayed escrows. But we carefully cataloged and learned from those mistakes. We now have teams in place with two layers of “issue spotters” who do nothing but make sure that no issues pop up that could delay a transaction. Many of these issues did not even exist before 2009 and the onset of the REO market.
But our tremendous amount of recent experience and our ability to spot issues at the front end of a transaction enables us to close faster than any other lender. We can even close FHA deals as fast as 21 days if necessary.
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 1197176, NMLS# 310167