Products, Programs, and Processes
Last updated: 2/22/19 (additions: the JM Loans team is now licensed to do mortgage loans in Nevada, Social Media Training, Single Property Websites, VA Renovation loans, "Forest Friendly" hybrid closing for conventional loans)
At least a couple times each week I'm asked to send over a list of products that we offer that may be different - Realtors, financial advisors, and other business partners are wanting to know what's available to meet the needs of more and more clients. The problem is, every time we make a flyer, it's outdated the following week as programs and products come and go. 
So, I thought an ever-evolving blog post on what we offer would be the best way to go. I'll keep it edited and updated with the latest, greatest (and heck, even the products I think are not the greatest, just so you know they exist on the rare occasion they're needed).
Loan Programs
Conventional Loans
- Agency direct to Fannie Mae & Freddie Mac for all conventional products. This means:
- Up to 10 financed properties allowed
- No Tax returns required (unless greater than 25% of income is bonus/commission/borrower is self-employed/rental income must be used to qualify)
- No overlays on property flip sales
- Non-occupant coborrower up to 95% LTV
- 100% of down payment funds can come as a gift
- Lender paid mortgage insurance up to 95% LTV (great product for people with great credit and less than 20% down)
- Homestyle Renovation - conventional renovation/rehab loans
- Manufactured homes OK
- Approved down payment assistance programs allowed! (in CA, GSFA Platinum, Wish, Grow, Daisy products can all be used for down payment/closing costs. In other states, approved bond programs are OK to use)
- HELOC up to 95% (80-15-5 loan) - eliminates PMI for borrowers with only 5% down
- Fannie Mae and Freddie Mac appraisal waiver on purchases and refinances OK
- Delayed Financing (cash out refi on cash-acquired property within 6 months of acquisition - great for investors or buyers forced last minute to purchase using cash)
- Construction-perm loans now available! - 1 time close!
- 100% conventional financing for 15 and 20 year terms on purchase loans in CO, FL, GA, NC, SC, VA, and WA (reduced PMI rates, GREAT for buyers planning for retirement)
- Conventional Streamline Renovation Product - include up to 15% 'as-completed' value into your loan amount as renovation costs. Easier process than homestyle OR 203k renovation products with NO RATE INCREASE
Government Loans (FHA, VA, USDA)
- Ginnie Mae direct lender - underwriting strictly to HUD standards without overlays
- FHA purchase and refinance with no additional overlays on FICO scores down to 580 (FHA loans available to FICO of 500 with additional restrictions)
- Manual underwriting OK (great for loans referred in automated underwrting/recent Bankruptcy or current Chapter 13)
- FHA 203(k) Streamline AND Full renovation products (done in-house!)
- FHA 203(h) disaster relief loans
- No FICO required for FHA
- FHA purchase with repairs needed (up to $5,000 allowable)
- HUD Approved down payment assistance programs (DPA) allowed
- CHENOA DPA program to cover 3.5% required down payment (no required funds from borrower/buyer)
- VA loans to 580 FICO
- In-house underwriting and direct lending for all government products
- USDA to 620 FICO
- Manufactured homes OK
- VA Jumbo loans (OK to exceed county loan limits using VA guidelines)
- VA Renovation Loans - underwritten to VA guidelines
Jumbo/Non-QM/Alt-Doc Products
- Loan amounts to $10 million
- Fully amortizing AND Interest-only jumbo options
- Delegated underwriting to $3 million (in-house underwriting, approved and funded by us)
- 95% LTV jumbo to $850,000 loan amount
- 90% LTV up to $2M purchase price with NO PMI
- Up to 49.99% DTI jumbo
- Asset depletion/assets for income
- Close in LLC OK
- Non-warrantable condos, co-ops, condotels OK
- Unique properties- mixed use, hobby farms
- Restricted Stock Units OK to use for income from any publicly traded company
- No limit on number of financed properties
- Jumbo Delayed Financing (Cash out within 6 months of purchase on cash-acquisition properties)
- Bank Statement loans (personal and business bank statement options available)
- Loans to borrowers living outside the US (expats with property in the US, for purchase or refinance)
- Non-government loans now available down to 500 FICO
- Recent Credit Event Programs -1 day out from foreclosure, bankruptcy
Processes
In-house underwriting for majority of loan products
- HUD delegated for FHA (approval is in-office at our underwriters discretion)
- Forest-friendly closing. Our hybrid closing process for conventional loans uses e-signatures, substantially reducing the time and paperwork required for settlements
- In-office processing, underwriting, AND closing/funding (immediate access to operations team)
- Ability to broker for niche borrowers/products
- Goal from application to clear to close in 2 weeks for conventional, FHA, and VA products. 3 weeks for USDA. 30-45 days for niche/broker loans
- Documentation requests direct from agency guidelines (we request NOTHING outside of what agencies/investors require)
- Digital mortgage process for borrower who want a streamlined/paperless process – Blend online application and document upload portal, disclosure packages thru docusign.
- Personally licensed in CA, CO, DE, FL, GA, MD, NC, NJ, NV, PA, OR, TN, TX, and VA (other members of my team carry licenses in HI, ID, MT, NV, and WA)
Marketing Support
- Agent Experience social media support and training for brokers/agents
- Involvement/inclusion in Mason Mac database marketing (newsletters, custom seasonal pieces, etc)
- Cobranded post-close marketing for all referred clients (my marketing to mutual clients is your marketing, too!)
- Video creation/editing
- Credit repair with 3rd party portal and updates to keep “not ready…yet!” clients in your pipeline
- FSBO/expired listing marketing tools
- Farm/demographic focus marketing partnerships available
- When available, leads and introductions for buyers and sellers
- Single Property Websites, Open House Lead Capture, Property Listing Flyers - ALL FREE, and linked to local MLS
- Social Media and technology training
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