Tag Archives: Bank Statement Loans

Two for Tuesday – Lessor of the Two!

#TwoforTuesday – Non-QM loans are fantastic.  And pricing is ON POINT! But what LO’s need to remember is as you structure these bank statement loans, you get the lessor of the two!  The lessor of the 1003 input value or the bank statement calculation once the underwriter is done analyzing them!

I give a great example in today’s video on how to avoid the pitfalls of this.  Make sure you do your own due diligence to the bank statements before you hand them in.  The 1003’s value of what income you use is set in stone at submission.  And never can go up, only down.  You get to use the “lessor of the two” when it comes to Non-QM.  #KnowThis

Non-Qm is definitely here to stay, and has a great function to lending now days.  If you’re not doing at least one of these per month, you’re missing out on opportunity.  Did you meet NIVA, NINA’s smarter sister?  🙂   These investor loans are fantastic and the opportunity to help investors expand their portfolio is fantastic.  With full doc, shorter times for waiting periods, investor loans, bank statement loans and more, NON-QM is a great product to start utilizing if you’re not.  It’s a great way to create options for your borrowers!  Get on POINT HERE!

NIVA

 

Motivational Monday

Funny I made this video over a year ago, and still applies today for sure.  The Mortgage JUICE is flowing all day, let’s connect as I have options that can help you close more loans. My passion, excitement and purpose is to help others daily, why not have additional options to close more loans…Persistence and Taxes the two things we have to have done.

Click here for Motivational Monday VIDEO

Who needs a change? Non QM products?

We all do, as all change should be viewed as good, and should be embraced.  I have some great news for my business partners, and anyone originating mortgage loans.  I have partnered with a new wholesale lender that offers a WAVE of new products on the NON QM market side, and provide all the agency loans your used too with NO OVERLAYS!!.

Manual underwriting and manufactured properties available on all products.  Even a 1st/2nd combo (Double WAVE) loan that goes up to 1,125,000.  NO DOC investor loans are back, up to 75% LTV.   1 Year self employed program, and 12-24 month BANK STATEMENT programs are available.  A 70% LTV Foreign National program, and a program that requires NO SEASONING on BK’s/Foreclosures and Short Sales.  WOW!  And the list goes on…

85% LTV with a 560 FICO up to 2 Million.  Yep your reading this right.  THE LOAN WORLD IS ABOUT TO GET JUICY!  A program that allows for 60% LTV on loan amounts greater than 1 Million with a  500 FICO!  Did I mention 80% LTV on a non owner occupied home with 12 month Bank Statements?  Up to 2 Million.  There is even  a program up to 90% LTV on a bank statement program available.

In all my missions I have in life I carry the passion and excitement to help others. This specifically helps me partner with Broker’s and relationships I’ve had for over a decade in this industry.  The Mortgage Juice is flowing, come Join Us In Creating Excitement.  Accepting resumes for sales candidates and Broker packages now!!

I can’t wait to help you close more loans.  Happy Originations – The Juiceman