Vellum Mortgage is the mortgage bank that funds JVM's loans
Vellum Mortgage is the mortgage bank with which JVM is affiliated. A mortgage bank is an entity whose sole purpose is the underwriting and funding of mortgage loans. This is in contrast to a commercial bank that holds deposits, issues checking accounts, and makes commercial loans.
JVM Lending operates independently of Vellum and affiliates with Vellum solely to get our loans underwritten and funded in the most efficient and cost-effective manner possible. By affiliating with a mortgage bank the size of Vellum, we can offer much lower rates than we could if we set up our own much smaller mortgage bank.
As a borrower or an agent, all of your interactions will be with JVM Lending only. We are 100% independent with our own tech stack, website, marketing, systems, hiring, training, accounting, and everything else required of a fully functional business. We share this info in our FAQs because our clients receive disclosures and other information from Vellum for regulatory reasons, and it sometimes confuses people.