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How JVM Lending plans to expand without any loan originators

Housing Wire

California-based retail lender JVM Lending plans to drum up business this year — but by doing the exact opposite. Back in the 2007-2009 meltdown, we had loan officers with us at that time. The goal for the lender is to have half of its production volume come from investment properties in 2023 — up from the current 10 to 15%.

Lending 418
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Mortgage lenders American Portfolio and Town Square announce merger deal

Housing Wire

The merger will result in an “increased lending footprint” to better serve clients, Paul Kessel, president of American Portfolio, said in a statement. Lisa Thomas, chief executive officer of Town Square, added that the deal also brings “a portfolio of expanded loan products backed by a lending platform with state-of-the-art technology.”

Mortgage 370
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Did Michael Strauss, accused of fraud, just start a new mortgage company?

Housing Wire

While there is speculation about whether Strauss took clients who had loans in the pipeline when Sprout shut down, it’s unclear if Smart Rate originated or bought any loans, or how the firm would fund new mortgages. In 2009, the Securities and Exchange Commission (SEC) charged two former executives at American Home Mortgage Investment Corp.

Mortgage 418
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Cornerstone Home Lending Promotes Jay Crowell to President of National Retail Division

Appraisal Buzz

Jay Crowell has been promoted to the newly created position of president of national retail division at Cornerstone Home Lending. Crowell joined Cornerstone Home Lending in 2009 and most recently served as president of the Pacific Northwest region. million in loan volume per loan officer, according to data from Modex.

Retail 195
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FHLBank Pittsburgh Announces Leadership Changes

Appraisal Buzz

Previously, he was COO of FHLBank Pittsburgh, a position that he assumed in November 2009. Morgan in Hong Kong from 2007-2009, after serving that company in various capacities in New York for 22 years. In Hong Kong, he served as Senior Client Executive for J.P. Watson served as Managing Director at J.P.

Investing 221
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Five Common Issues Found in Appraisal Reports

Appraisal Buzz

Post submission of an appraisal report ordered by an AMC for lending purposes, a quality control check of the report will be completed. Once the AMC deems the report satisfactory, it is forwarded to their client, the lender. Appraisals for mortgage finance transactions are subject to many levels of scrutiny and review.

Appraisal 397
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Cornerstone Names New Head of Retail

Appraisal Buzz

Cornerstone Home Lending President–National Retail Division Jay Crowell Cornerstone Home Lending , a division of Cornerstone Capital Bank , has announced the promotion of Jay Crowell to the newly created role of President–National Retail Division. million in loan volume per loan officer, according to data from Modex.

Retail 221