When a buyer client doesn’t have a lender, I refer to JVM Lending. I can give multiple lenders and a buyer can choose whoever they want. Oftentimes, there are reasons for that choice. For example, if a buyer has only been in the country for less than two years, most lenders can’t finance them and big banks will only allow a certain amount of money, provided they have a chunk of change in their bank.
However, for most situations, I know JVM will perform if they give an approval. They are so diligent, have amazing systems in place, and are not dependent on just one loan officer responding. They don’t even have loan officer titles – the initial contact is with a Client Advisor.
There is nothing worse than having the loan blow up during the escrow process, especially in this market where buyers are removing all contingencies. I have been one of those agents who has called JVM to save the day, and they have saved it every time.
This recent blog by JVM shows how important it is to know if the lender is focused on refi’s, or primarily does purchase loans. It can make a world of difference. The only motive I have to refer JVM is that I know I will look good to my clients because everything will go so smoothly for them. Most buyers never recognize how smooth the process truly is, but they would appreciate it if they have ever experienced a bad lending experience and would never want to go through it again!