Today, a good majority of originators know what a bank statement loan is and which lenders to use to place these files. However, what happens when the 12 or 24-month bank statement loan does not work?
Our 3-Month Bank Statement program is used as a fail-safe product for these clients. Though the commercial market has been in disarray over the past 18 months, we are now accepting files on subjects with mixed-use characteristics. Adult Care Facilities and Vacation Rental Properties have been hard to place, and we will now look at lending on these subjects.
LO, Ops, AE Jobs; HELOC, Efficiency, AMC, Sales, VOE Tools; Podcast for LOs; Jumbo and Non-QM News Mar 4 2021, 8:20AM
Welcome to the only day where the date is a command. Owners of shopping malls wish they could command everyone to go shopping in one. When was the last time you went into a shopping mall? I don’t remember either, and I’m starting to miss those rock-solid pretzels and henna tattoo & ear-piercing booths. Turn them into housing, affordable or otherwise? Why not?! The aggregate value of reappraised American malls fell an average of 60 percent in 2020, with 118 retail properties seeing $4 billion in value wiped out over the course of their reappraisals. Of the 1,100 indoor malls in the United States, analysts say only about half have a reasonable chance of survival. Certainly, the hundreds of thousands of loan officers hope their jobs do more than survive in 2021, and to listen to the audio version of today’s commentary with an interview
Ops, MLO, Bank Sales Management Jobs; QC Report, Retention, Cap. Markets Tools; Jumbo and Non-QM Tidbits Dec 23 2020, 8:23AM
My cat Myrtle (Myrtlus Domesticus) doesn’t have much in the way of material possessions. Need to get rid of unwanted junk during the holidays? Put it in Amazon boxes and leave them on your front porch. The holidays are a time of a lot of awkward meetings, especially your girlfriend’s parents. Here is an entertaining 3-minute video with subtitles of actual thoughts. How about buying your loved one a town? Perhaps a different question is, how does an appraiser handle an entire town in New Mexico for sale? Do you think of a particular color when you think of a ghost town? Rust and gray? Those in the know will tell you that COVID has changed the color palette of new homes. (COVID… After years of wanting to thoroughly clean my house but lacking the time, this week I discovered that wasn’t the reason.)