Hi everyone,

A top-producing LO buddy of mine is being driven crazy by recruiters. They call and call and each promises that the lender they represent is the BEST at pricing and approving jumbo and super-jumbo mortgages, which has been his specialty for almost two decades. After the only company he'd ever worked for went out of business, he was recruited by his current company and chose them because they claimed to be very interested in expanding jumbo business. That turned out to be false; even loans with very low LTVs and perfect borrowers languish in underwriting for months and half the time the clients get sick of it. He's afraid this will ruin his reputation and wants to leave but doesn't want to make another mistake and rely on the assurances of a recruiter. If any of you know which lenders are jumbo-friendly and lend in Nevada I'd be profoundly grateful for the heads-up. Thank you!

Aren't we all being driven crazy by recruiters?  It seems they want us - but don't need us.  I think really the best option is a broker with a great base of lenders - ING has some killer arms - but the LTV is set very low.  We lead the pack in low LTV and price for a long time for our jumbo fixed - but have been caught up with and in the case of only the 10/1 ARMS - priced out of the market - by .250% - but on a 2,000,000 loan, that's a huge hit.  I have closed a few 2,000,000+ loans this year, and found with a great set of notes from me - the DITI has been given exceptions - within a short turn time.  The big banks have pretty much priced themselves out of the market of late - that's something very important to know and be aware of  - I worked for Chase for 4+ years, and when the rates are low and the pipelines are full - they Wells, BOA and CITI all follow suit in short order.  Even a week of bad pricing can cause real problem with jumbo customers.  When they make up their minds, they want to move fast.  I have always worked for a bank based lender - but I do send to my broker friends some of the deals I cannot do - and their rates and turn times are amazing.  Hope this helps!