COVID-19 Updates and Forbearance Info

As a designated “essential business,” JVM Lending is open and funding mortgage loans during the COVID-19 crisis. Most types of mortgage financing remain available for qualified borrowers. If you are looking for information relating to payment forbearance, please see JVM's Forbearance Resource Center.


FHA Buyers Can Have Other Mortgage; FHA NOT 1st Time Buyers Only

We had borrowers with a large existing home and mortgage in Clayton, CA use FHA financing to buy “down” (buy a smaller house) in Walnut Creek, CA. The lender allowed this b/c the borrowers had a compelling motivation to move – a job change that made the commute from Clayton far too long. In addition, […]Read More

Co-Signer/Co-Borrower NOT Just for FHA; Freddie Allows Them

When discussing conventional or FHA loans, non-occupant co-borrowers, or co-signers, and blended ratios all refer to the same thing: Using a friend or relative to co-sign for a competitive owner-occupied loan even though that friend or relative will not live in the house. (Note: co-signer does not have to be a relative) Many people mistakenly […]Read More

Party Over? Home Path Financing – NO Appraisal Required

The “MBA” (Mortgage Brokers Association) released a report stating that they expect rates to trend upward from now on and to settle out over a point higher next year. They did the same thing last year, and were wrong, but we still take their predictions seriously. Fannie Mae Home Path financing is offered by most […]Read More

Wells Fargo Will No Longer Allow Upward Price Re-Negotiations

Wells Fargo has grown “suspicious” of contract renegotiations that result in price increases, and other lenders are expected to follow suit. The price increases invariably occur after an appraisal comes in higher than expected and they invariably result in increased seller-concessions. As a result, Wells will no longer allow upward renegotiations after January 25th. There […]Read More

Turn Times

There is little economic news today, as bank stocks continue to get hammered in the market, and interest rates remain about the same. We keep getting asked by Realtors if 30 days is enough time to close escrow. It is more than enough time. We can close as fast a 14 days if necessary. The […]Read More