Okay, we know Jeremy Blantonand other hardworking RAINER staff members are WORKING on this horrible SPAM ISSUE, but now it is starting to get ridiculous! I am expecting Zombies to come busting in any moment looking to eat my brain & get a loan modification! Clearly they have a great hardship and just need a little help with their LOX!
Before you read on....please watch the following training video...
And now for something completely different......
First, the Bad news....
I received this today!
"Hi everyone. Cheerfulness, it would appear, is a matter which depends fully as much on the state of things within, as on the state of things without and around us. I am from Comoros and know bad English, give please true I wrote the following sentence: "It also has a light sensor that inverts the color making it visible in all light settings." With best wishes ;-), Abira.
Good news...I got 10 points! Woooo hoooooo..I showed those horrible foreign Spammers!
Then I got this....
"Sorry. Everyone wants to be Cary Grant. Even I want to be Cary Grant. I am from Denmark and now teach English, tell me right I wrote the following sentence: "Next day delivery and free returns on most items." Thanks ;). Pleasance."
Totally sweet...another 10 points! - Oh, and I do not want to be Cary Grant..but thanks anyway Pleasance!
My friend SPAMMY here is a little TOOOOO happy...I think he has been "smoking the google juice".
So Bob, Jeremy,Brad & team...what are you actually doing to curb this horrible infestation of spam?
In these very uncertain times we call a "Mortgage & Realestate Crisis", I get SO excited when I think I have another comment...(wait another 5 points or so), or better yet some PORN SITE from Denmark asking me USDA LOAN questions...that I almost jump out of my skin..
And Abira, are you selling Light Sabers or Sex toys? Wait, I know, it is a flashlight right?
If you guys keep this up, I am going to get PISSED OFF and have my Dad kick your ass!!!
Can't we just keep talking Mortgages, and how hard they are to get?? Please?? Oh, and why FHA guidelines dont mean anything! Oh, and is there any POSITIVE DATA SOMEONE CAN BLOG ABOUT regarding housing? Come on, there has to be!!!!!
Sometimes, I dont thinkthese comments are real...and maybe that Jason Sardi is playing a trick on me.
However, I know they are real, because I get points for them!
I also think Strippers like me for my cologne!- wait...sorry...exoctic dancers! I didnt mean to be insensitive!
I am going home now, but I will leave you with the Grand Daddy of them all....
Good morning!. I am from Andorra and learning to write in English, tell me right I wrote the following sentence: "Cash advance loans provide people some extra short term cash in between paychecks without having to lay themselves open to revolving debt." With love 8-), Long.
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BRILLIANT!!!! REALLY? THANK YOU ANDORRA errrrr LONG... Don't we NEED a paycheck in order to get an advance on it? And what exactly are you laying open?? Love & kisses -) Short
People, please send me referrals! I need to eat...and I am sick of spam! I am only getting one food group right now, and that is not good!
UDPATE#1- Why is my category button not sticking? Everything else stays in draft mode, but the category deletes?? Any ideas everyone??
Happy Selling!
Thanks! Buckster R Buckster
-Darin-
As always, I welcome your concerns,comments,issues and suggestions! Krovy@aol.com You can subscribe to my blog by clicking HERE, or by clicking on the ICON below!
Feel free to check out a few of my more popular blogs by clicking on the links below!
After reading the FEATURED blogs the last couple of weeks or so...I have been disappointed, happy, eager, discouraged, and every other emotion that I can/cannot think of right now! That said, I truly believe that if you are going to AUTHOR A BLOG, especially a Contraversial one, then you should take the time to appreciate the commentors, and respond within the thread! THAT IS WHERE THE LEARNING & EDUCATION TRULY HAPPEN!
Now, I am not saying to drink the "purple kool aid" like the Viking Fans are right now thinking Brett Favre is going to save the day!
What I am saying though is that the LEARNING IS IN THE THREAD!
Let's say a LENDER does a post on FHA loans..and that post inspires someone to ask a question within the COMMENTS about a specific home or loan scenario....If that lender doesn't ANSWER the question, it just "hangsthere in limbo!"
A teaching moment just came & went! - bye bye
Now, let's say a REALTOR talks about a new announcement put forth by the NAR in their blog....and NOT ONE LENDER comments about how that announcement actually affects getting a mortgage loan.
A teaching moment just came & went! - bye bye
Finally, let's say a Lender does a blog on USDA Loans, and in the thread a REALTOR comments that "the reason that they don't do many of them in their area is because it takes too long to get a home inspection done, or that home inspections are killing their deals."
If the AUTHOR doesn't respond that HOI's are not REQUIRED on USDA loans...once again..another teaching moment has been lost!
why???????????- Because you didn't have the time?
Though I have not been blogging that long, I do see the importance of responding to ANYONE who comments on myblogs! I have made friends, enemies (no, not really),business partners, great aquaintances, great referral sources, and overall a LARGE # of contacts thru Active Rain & blogging...but many of them through the comments, not the actual blog itself. It always befuddles me as to why someone take the TIME in this market to put together such a technical and wonderful blog, but then doesn't have the "time" or "courtesy" to respond to the commentors! IN MY BOOK, that is a VERY BIG mistake! Almost as big as not marketing every day...but that's another blog! :)
We all blog for different reasons!
We blog to gain customers,referrals,credibility,notoriety,a local presence, vanity,ego,google juice, and all kinds of other reasons, but I would hope the #1 reason is to help people, both customers and people within our industry!
Personally, I view blogging kinda like "planting a seed". Sometimes you have to plant quite a few before a tree or plant grows! Your business is quite similar, and bloggins should be/ and in my case is, just another part of it!
Are you Johnny Appleseed?
I have found that responding to the commentors plants LOTS OF SEEDS! I get at least 1 question per day from people all over the United States about USDA loans! Not always because of MY BLOGS on USDA loans, but because of my COMMENTS on other peoples blogs! If you dont believe me, just look at your PROFILE VIEWS on your statistics page! That tells the tale! How many have you had?
I think that if someone takes the TIME out of their day to comment on YOUR blog, you should have the courtesy to respond, let alone the wisdom to learn from it!
-Remember-
The Learning is in the THREAD & always be Major League!
Happy Selling!
Thanks! Buckster R Buckster
-Darin-
As always, I welcome your concerns,comments,issues and suggestions! Darin@Osmwi.com
You can suscribe to my blog by clicking HERE, or by clicking on the ICON below!
Feel free to check out a few of my more popular blogs by clicking on the linksbelow!
"Please email me prior to linking or soliciting a product or service on my blog" - The Management
Proudly serving the entire State of Wisconsin since 2003!
To anyone reading this blog, visit www.cancerfuture.org to hear the story about one of our local Business owners, and long time residents! Please help if you can!- Thanks!
Okay, today the preverbial "Straw that broke the camels back" hit me...so here is why, and my advice to the "Ruling Class" out there! Folks- Forcing things, threatening, having your Manager call, or just plain being a Bull in a China Shop no longer works today! All it does it create more problems, animosity, and stress! It gets WORSE when this is passed on to the customer!
I have some absolutely CLASSIC qoutes coming in here...but will try NOT to be VERBOSE!
( call or email Jason Sardi for a definition of verbose LOL )
I got this comment today from a Realtor:
"I, too, have closed dozens of USDA loans with different loan officers and have never had a hold up like this."
Now I ask you, does she read the paper, watch the news, follow ANYTHING on Active Rain, let alone follow her own industry?
6/2/09 I did a blog on the new HERA law & rules. - 14 comments
Why are people worried now? Because it has now taken affect! Do you clean your teeth? Or, wait for the Cavities to hit?
5/15/09 I did a blog on the new 4506T issues and the future problems that will result! - 6 comments
This is a form that is being executed on nearly every loan. Why are you surprised that it is causing delays? Everyone has known about it!
5/1/09 I did a blog on WHAT A 4506T tax transcript request form ACTUALLY IS! 11 comments
I got asked by a Realtor that has read my blog, what this form is. I was flabbergasted, but politely answered again. So I ask you, do you really want education from us lenders or not? THIS IS WHY A LENDER PARTNER is VERY IMPORTANT!
On 12/9/08 I did one of my very first blogs, albeit not very good..on relationship building! - 5 comments
I have gotten MUCH better at blogging since, but the message remains the same...do you wonder why there are arguements between us?
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Wake UP people!!!! It doesn't matter if you have sold Realestate for 30 years or 3! What was okay then, is NOT OKAY NOW! We as lenders, have LESS control, and walk a very thin line with our funding sources! What will you do with your buyers when there are NO lenders left?
Today- Martha Brown has a featured blog on what went wrong on one of her blogs! In her case, it was "THREAD DIRECTION". Not really her fault...but look at how it turned!
Personally, I dont think ANYTHING went wrong, it is just indicitive of the differences still remaining between Lenders and Realtors! Sadly, it is also like the RACE CARD and it is pissing me off!
Miriam Bernstein wrote a blog on 4/4/09. JUST READ for a moment the comments left, and the direction given in the blog and judge for yourself! Was this a positive reflection on Lenders? 254 comments says this is a HOT TOPIC! Wouldn't you agree?
Jeff Belonger did a BLOG and was pretty clear in the points that he made that Realtors should sell homes, and lenders should lend money! He was less blunt, but you get the point?
Janet Guilbault even has a NEW blog today on this very subject, and it is my guess it will get featured! She has also done OTHER blogs where Realtors commented and she was attacked, maligned, and basically told she was an Ogre! Just read the comments on any of these:
After giving the LISTING AGENT daily status updates on appraisal, etc..etc..etc..and I have 11 emails from her telling me that I am the ONLY Lender that has communicated with her like this EVER in her career..and this is what I got when we put off a closing from 4pm Friday to 2pm Monday. Before you get your UNDERWEAR in a bunch, please note that the property is in a TRUST and the seller is in a Nursing home. Her daughter is NOT on the contract and has no right to any information regarding the closing! Lastly, it was put off due to the 4506T getting rejected by the IRS 3 times!
This was the subject line on the email: "Why the hell didn't you e-mail me at 9:30AM?"
This was the body of the email: "Darin: You are in hot water and making me look bad. My Seller's daughter is PISSED OFF. I want you to call her now and explain this so I am not on the hot seat. ........ The Seller is an elderly woman who is a nervous reck about this and they are angry at me!! Now I have to take everything back that I said about you before and you shouldn't pressure people to set up closings 2 weeks in advance and then not follow through!!!
#1. The OTP has a scheduled "on or before date of closing", WE DON'T SCHEDULE closings! Realtors do!
#2. Why should I talk to someone about loan specifics who isn't involved in the deal or has a right to know? Fact is, I won't! But, in this case, I listened to the daughter tell me, and I qoute, "YOU ARE KILLING MY MOM"- I dont know what to say about this..
#3. VERY IMPORTANT TO NOTE: I told them this was a problem 3 days before hand...this did NOT come up at the last minute. However, as you can see, she was surprised! HUH??
Loan closed, customer was THRILLED with our service...(conventional loan closing in 27 days with an HVCC appraisal), and she has already referred me another customer!
ALL IN ALL, we as lenders will no longer stand for mis-treatment, disrespect, threats,and the overall abuse we have taken in the past! Calling my boss will not help! Calling the USDA or the IRS will not help! Threatening me to "never send me any business again" will not help! In almost every case, I could have thrown the REALTOR under the bus, but I chose the high road instead!
You buy & sell the house, and I will handle the financing!
REALTORS- You truly need to decide if you want/need education or not!!! Being positive, objective, willing to accept change, does NOT MEAN you have to accept incompetence, and that is where I could not agree with you more!
Let's work as a TEAM out there...it is hard enough. I certainly don't want to be a VAMPIRE or LYCAN!! (werewolf)- that is a BLOOD SUCKER or Cybil! :) - personality changer! LOL
You have every right to fire me if you dont agree! I reserve the right to fire you for treating me poorly and unprofessionally.
Happy Selling!
Thanks! Buckster R Buckster
-Darin-
As always, I welcome your concerns,comments,issues and suggestions! Darin@Osmwi.com
You can suscribe to my blog by clicking HERE, or by clicking on the ICON below!
Feel free to check out a few of my more popular blogs by clicking on the linksbelow!
"Please email me prior to linking or soliciting a product or service on my blog" - The Management
Proudly serving the entire State of Wisconsin since 2003!
To anyone reading this blog, visit www.cancerfuture.org to hear the story about one of our local Business owners, and long time residents! Please help if you can!- Thanks!
Home of Susie the Duck, the cozy little bedroom town of LodiWisconsin is located just north of Madison, Wisconsin. Lake Wisconsin to Gibralter Rock, the natural landscape surrounding Lodi affords beautiful views to the hiker or biker. (of any type) Right across the Lake is Devils Head Ski & Golf Resort, which also offers awesome mountain bike trails, fantastic Golf, and great lodging. Lodi Wisconsin is known the world over for being "Home of Susie the Duck". Hence, this weekend, we are hosting "Susie the Duck days", with the theme of "DUCK INTO LODI."
There is a great little parade starting at 12 noon on Saturday, August 8th!
Other activites include:
Fifth Annual AUTO SHOW
Beer Tent
Live Band
All kinds of Kid's games in Goeres Park
Food
And the Crown Jewel.....The DUCK DERBY pulled from Spring Creek at 4pm!
This is an AWESOME, FUN, FAMILY activity that..oh by the way...is FREE!!
If you are a first time visitor, be sure to take a ride across the Wisconsin River aboard the Colsac III, Wisconsin's only free auto ferry. You can spend the day seeing the sights, visiting attractions, or visiting with the interesting people and return to Lodi's peaceful hotels, motels, Bed & Breakfasts, or campgrounds to relax in front of a campfire, or hang out at a local supper club and enjoy Wisconsin's favorite cocktail, the Brandy Old Fashion!
There are many great places to eat, and summer activites abound!
"Please email me prior to linking or soliciting a product or service on my blog" - The Management
Proudly serving the entire State of Wisconsin since 2003!
To anyone reading this blog, visit www.cancerfuture.org to hear the story about one of our local Business owners, and long time residents! Please help if you can!- Thanks!
I thought with ALL THE NEGATIVE publicity it has been getting, I would give theHVCC some solid PUB!
Even though my friend Rowdy here is still a little doubtful, I am confident we can overcome this HVCC issue.
In the two examples I am about to give, one was ordered thru the WELLS FARGO system, and the other through the Bank of America system! To clarify too, the system MIGHT work a little differently for a Mortgage Banker, Bank, Vs. how it works for us brokers! However, this will give you all some insight as to HOW the system works, or as many will tell you, doesnt work! :)
Story 1-
Wells Fargo uses a 3rd party company called RES DIRECT. They can be found at www.res-direct.com
This appraisal was ordered, done, and uploaded in less than 7 days!
Our company, a broker, has to set up an account with them, then go online, and order the appraisal. Here is where it gets sticky tho....the CUSTOMER HAS TO PAY ONLINE OR BY CREDIT CARD! We are also given a "price" at this point right online so we know what to PREP the customer for! However, we NEED THEIR CREDIT CARD INFO in order to order this! Yikes!...yet another opportunity to get into trouble huh?
The 3rd party company, RES DIRECT, then "farms out" the order to one of 2 appraisal companies. LSI, or Rels Valuation.
We have to then FAX A COPY or email a copy, of the PURCHASE AGREEMENT to a completely DIFFERENT PHONE# or email address!
We then give them a due date, or time frame in which we need the appraisal, and they go to work at finding an appraiser to get it done!
All through the process, we get email updates or status reports sent RIGHT TO OUR EMAIL INBOX! These are actually pretty SWEET, because we know when the order was received, contact was made, a day & time has been set, and when we can expect to have the appraisal uploaded into the system. In addition, they put notes on the system to let us know if there is a problem, or any other kind of special "needs" or "requests" that they may have! For example, listing or zoning information, special flood areas, etc..etc..Truthfully, in 20 years, I haven't received this much followup contact with ANY appraiser!
Wells Fargo then receives the appraisal directly, and at THAT POINT, if we have an issue with the value, we NOW CAN TALK TO THE APPRAISER as we know who it is, and we can follow the procedures put forth by the company on debating value or debating "issues" that came up with the appraisal! Thought behind it is that value has already been established, and UNDUE INFLUENCE cannot affect the outcome!
Story 2
Still waiting for appraisal to come back, but was ordered 7 days ago, and appraisal was DONE 2 days ago, but the LISTING AGENT wont get back to the appraiser with questions regarding title & ownership! Hence, we should have had it by now!
Similar to Wells Fargo, Bank of America allows us to order the appraisal online! In fact, there is a dropdown tab RIGHT within our companies PIPELINE on their website! We click on it, type in a whole bunch of information, and again.....CALL THE CUSTOMER AND GET THEIR CREDIT CARD information, and bang....the appraisal is ordered!
ONE HUGE difference here though is that we as a LENDER, STILL HAVE TO GO IN once the appraisal is done, and UPLOAD the appraisal to the underwriter assigned to the file! Kinda dumb don't ya think that a company as LARGE as Bank of America cannot retrieve their own appraisals?? I think so...
The ordering system was a little easier than that of Wells Fargo, and again, we received followup emails every step of the way!
In BOTH CASES I am fairly impressed & not bad turn time!
In Summary
Much like LENDER OVERLAYS on loan programs, there are also what I refer to as HVCC overlays as well! In other words, NOONE truly understands the "rules" regarding HVCC compliance so many just say talking is a "no no" and leave it at that. It is the midsize Banks & Mortgage Bankers etc...that MAY incorporate some of the "new" changes, but companies like Wells and others tend to set the standard! It all truly depends on if the FUNDER/LENDER wants to take or share the risk!
The HVCC is not something to be afraid of, but you DON"T have to be happy about it, or embrace it either!
Reminder#1.- FHA,VA, & USDA LOANS are NOT SUBJECT to HVCC rules, period!
Reminder#2. - You can talk to the appraiser (both lender & realtor) AFTER the appraisal is done and value has been established and accepted.
Reminder #3.- There is a "challenge" system in place at nearly ALL 3rd party HVCC companies! Learn it, ask questions about it, and follow the rules to a T!!!
Reminder #4.- Always have the words "UNDUE INFLUENCE" in the back of your mind! If you "THINK" what you are saying is wrong, it probably is!
Thanks for reading & Keep selling!
-Darin-
As always, I welcome your concerns,comments,issues and suggestions! Darin@Osmwi.com
You can suscribe to my blog by clicking HERE, or by clicking on the ICON below!
Feel free to check out a few of my more popular blogs by clicking on the linksbelow!
"Please email me prior to linking or soliciting a product or service on my blog" - The Management
Proudly serving the entire State of Wisconsin since 2003!
To anyone reading this blog, visit www.cancerfuture.org to hear the story about one of our local Business owners, and long time residents! Please help if you can!- Thanks!
A while ago, I did a blog on the new mascot for Active Rain, and I officially named him BLOGGIE! Well, Bloggie met with mixed emotions....so, I gave some thought to quitting the Mortgage Business and going to Mascot School myself, and...as of now, STILL have not decided on that career path yet! Read to the end of the blog for the ACTUAL new Mascot of Active Rain! (not approved by anyone at AR btw!)LOL Please note: CLICK on any pictures below if you have speakers and need a laugh!
We find our Hero Bloggie, returing to his homeworld, plagued by the EvilHVCC, and stuck in the middle of an epic battle between the Realtors & the Lenders. Our Hero, faced with the challenge of changing his appearance, (due to multiple contacts with appraisers and exerting "undue influence" on them...) has enlisted his Jedi Master for aid!
Bloggie Wan-Kenobi
"My young paduan..you must UNLEARN what you have learned!" Forget about closing your deals in 30 days or less...no, we must close our deals in 60 days or less, wait, make that 90 days!
We must slay appraised values, cut commissions, blame each other, and work for free!
We must hold noone responsible!
Wait, that is a Jedi mind trick right??
Having learned all he could from his Master, our young hero Bloggie has decided to "drift" to the dark side, and now learn the fraudulant tricks...from a master of deception and deflection...No, not Emporer Palpatine..
but Count Spookoo and..Darth Frank.... his trusty side-kick. Together, they have unleashed the power of the darkside on all of us!..Because Darth Sidious Frank wants world domination...he has the Death Star on its way, aka: The Mortgage Disclosure Improvement Act! All part of HERA! Pretty soon our young hero bloggie will no longer be RUNNING THE SEARCH ENGINE WHEELS at Active Rain...nope...he will be getting unemployment ,a loan modification,and two part time jobs like the rest of us! At this point, our Hero is confused....he could committ fraud and make lots of money, but then, in the end get caught, and go to jail, or he could embrace the power of the FORCE and be honest, trustworthy and vigilent all the way to the poor house! Do you see his dilemma?? Way to go Evil Empire! That's the way to get our economy BACK ON IT'S feet! Yeahh...unemployment! :(
In the end, what does our hero do???????????????????????
Our Jedi Bloggie has completely transformed into an AMBASSADOR of the Industry!
Soon to be seen on Larry King, live with Regis & Kelly, and at a MALL near you!
Our young HERO Bloggie has accepted his role as Ambassador to the Social Networking Nation, and as Mascot of Active Rain!
He promises to keep a postive flow of information streaming into our Network, and increase our GOOGLE JUICE whenever possible!
IF BLOGGIE CAN DISPEL THE FORCES OF EVIL, YOU CAN TOO!
Keep Marketing,Keep Educating,Keep Learning, and most of all Keep Listening!
Thank you Bloggie!
Thanks for reading & Keep selling!
-Darin-
As always, I welcome your concerns,comments,issues and suggestions! Darin@Osmwi.com
You can suscribe to my blog by clicking HERE, or by clicking on the ICON below!
Feel free to check out a few of my more popular blogs by clicking on the linksbelow!
"Please email me prior to linking or soliciting a product or service on my blog" - The Management
Proudly serving the entire State of Wisconsin since 2003!
To anyone reading this blog, visit www.cancerfuture.org to hear the story about one of our local Business owners, and long time residents! Please help if you can!- Thanks!
Here is a cut & paste of PART of the announcement on the USDA website here in the Dairyland State of Wisconsin!
Please note that the numbers I will list below are "staggering" because last year, in the State of Wisconsin, $257 million dollars worth of USDA loans were done! As evidenced below, ALREADY, at the halfway point of the year, the USDA has guaranteed $145 million dollars worth of loans! That works out to SHATTER the record set last year by 33 million dollars!
Let's do the math right quick!
Ths is a whopping...
$122,466 per loan!
In rural communities, and not so rural communities!
Folks, that means THAT THIS YEAR ALONE in the State of Wisconsin, thanks to the USDA, there will be :
270 NEW HOMEOWNERS! Most of which are 1st time home buyers JUST UNDER THIS ONE PROGRAM!
Well, should we target this market or not?? Yes, I am laughing...OF COURSE WE SHOULD!!!!
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TOP OBAMA ADMINISTRATION OFFICIALS HOLD 'RURAL TOUR' COMMUNITY FORUM IN WISCONSIN
Agriculture Secretary Vilsack and Transportation Secretary LaHood Discusses Administration Efforts, Collects Ideas on Strengthening Economic Development in Rural America
WEST SALEM, Wis., July 16, 2009 - U.S. Secretary of Agriculture Tom Vilsack and Transportation Secretary Ray LaHood today visited Wisconsin and held a 'Rural Tour' community forum to discuss efforts by the Obama Administration to rebuild and revitalize rural America, listen to local residents talk about how the federal government can assist them, and discuss solutions to challenges facing their communities. This event follows the launch of the Obama Administration's 'Rural Tour' in June.
"To overcome challenges and be successful in a new, 21st century economy, President Obama has asked that we reach out to people in rural communities across the country to listen, learn and facilitate problem-solving," said Vilsack. "It is critically important to hear the thoughts, concerns and stories about each community's vision for its future and to collect ideas about how USDA can better serve these communities."
Here's your WOW moment........
USDA's Rural Development has helped guarantee 1,184 loans worth $145 million in the state of Wisconsin through the Single Family Housing Loan program. These loans help residents and producers to have access to the capital they need to keep rural communities strong.
In June, President Obama announced that Secretary Vilsack will lead the Administration's Rural Tour to visit rural communities in states throughout the country. Secretary Vilsack is scheduled to lead Rural Tour events with a variety of other top administration officials over the coming weeks and months in Alaska, Louisiana, Nebraska, New Mexico, North Carolina, Ohio, and Virginia. As the tenth similar forum Secretary Vilsack has led since being sworn, these upcoming events follow the rural listening sessions held earlier this year in Charlotte, Mich., Concord, N.H., Wattsburg, Pa., Danville, Ind., Geneseo, Ill., Harrodsburg, Ky., Ludowici, Ga., Portageville, Mo., and Brush, Colo.
"Please email me prior to linking or soliciting a product or service on my blog" - The Management
Proudly serving the entire State of Wisconsin since 2003!
To anyone reading this blog, visit www.cancerfuture.org to hear the story about one of our local Business owners, and long time residents! Please help if you can!- Thanks!
This is a very CRITICAL UPDATE and anyone using the USDA loan, or if you KNOW of someone usingUSDA loans, please pass this blog link along, or RE-BLOG it to your sphere!!
I have included at the bottom of the BLOG, the entire list of loan coordinators within the United States of America! Email first if you can!
Also, check out the music video at the end as well!
The reason for this update is because the USDA is experiencing it's highest volume since the inception of the program!
REDUX COMMENT: Jeff Belonger brought up an issue in the comments that prompted me to do a little investigation. His comment was directed at JP MORGAN CHASE! I spoke to an upper level executive today at JP MORGAN about the "rumour" that they may be pulling out of the USDA business! He kinda laughed and clearly stated there is NO TRUTH to that rumour! Hence, if you have files there...rest assured, nothing is changing! He did state there was an internal stoppage on the RETAIL banking side regarding USDA loans, and the word he used was SUSPENDED. This is STILL in effect. I am confident that is only temporary though! One more reason to use Mtg Brokers & Bankers! Yahoo..
Taylor Bean & Whittaker, I am still awaiting a response from!
Thanks! Bucky
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BEFORE I SUMMARIZE the changes, we need to first cover LENDER OVERLAYS!
What is a Lender overlay you ask? Well, Im glad you asked! Thanks!
A Lender overlay is a requirement that a specific LENDER has, that maybe another Lender does not have! For example, if you speak directly with a USDA office about a specific requirement on a loan application, offer to purchase, or confront them about a situation, and you get a FAVORABLE RESPONSE, it may not mean anything at all! WHY? Because the LENDER that is UNDERWRITING and approving the loan PRIOR to the loan going to the USDA, may have a sticter rule, or may not approve a loan under those circumstances! Hence, enter the LENDER OVERLAY!
Another example, JP Morgan Chase & Taylor Bean & Whittaker, are the only two companies I AM AWARE of that allow a USDA loan product to be processed as a "Subject to" appraisal, or as a "fixer upper" loan!
Wells Fargo, and other companies do not! Why? Because they have LENDER OVERLAYS! What this is REALLY telling you is that they dont understand them, dont want to have anything to do with them, and aren't we all afraid of the unknown? They do not want to take the risk! Who does today?
NOW TWO VERY QUICK THINGS TO WATCH FOR IN THE COMING DAYS!
Realtors- If you are not getting them already, start watching for a CHANGE in loan committments! Loan committments are going to start coming through with stipulations on them! This isn't a bad thing necessarily, but you will start seeing approvals come through that say..."this loan approval is SUBJECT TO an acceptable appraisal, and any other further sitpulations put forth by the Rural Development office!
Lenders- Start looking over your appraisals WAY more closely! DO NOT RELY on your internal underwriter,manager, or processor! LOOK AT THE DARN THING YOURSELF! A friend of mine recently had her USDA loan suspended, due to the site value being 30.10% of the appraised value! Limit in USDA loans is 30%. Yes, it is only 1/10th of 1 percent, but look at the grief we are getting!
Okay, now on to the summary!
Let's first talk about rate locks!
Rural Development has experienced a HUGE increase in volume. Directly from the USDA, they are asking both Lenders & Realtors alike to allow ample time for a review of the file and a response. "Plan accordingly with your rate locks and loan closings. Contacting Rural Development multiple times as a Lender,Broker,Realtor, or borrower, will only delay your important request. " In other words folks, be patient! Lenders, make sure your Realtors understand time frames and turn times! Realtors, take your heart medication and drink lots of fluids! In other words, plan for an extended delay in high volume processing areas!
This is a quote from the USDA alert regarding CONTACTING the RD office!
"While many parties are anxious for their request to be acted upon, commication concerning guaranteed loan applications will occur between the Rural Devlopment and the approved Lender!!! Brokers, correspondent Lenders,Realtors,or potential borrowers,etc..should communicate with the approved lender, NOT Rural Development."
Lenders
The Guaranteed Underwriting System (GUS), will reduce proceesing times and allow approved lenders to verity loan data for accuracy in a timely manner! Here's the rub tho: There are MANY new GUS rules that may REQUIRE ADDITIONAL DOCUMENTATION to be submitted on "ACCEPT" loan files when a "final" underwriting submission is executed.
Read all your findings! What does this mean to Realtors? Well, sadly, they can add things at the end! I know we don't like hearing that...but they can! Tough! However, communication is VERY important on this!
Okay, now here are Bucky's Tips & Best Practices straight from the USDA!
Any of these changes may adversely affect your Conditional Loan Committment!
1. if the loan amount increases
2. if the loan interest rate increases
3. if there is an increase in mortgage or personal liabilities
4. if there is a decrease of assets, and/or the income decreases
How about an example? Let's say, your customer is buying a home. They get their Conditional Loan Committment and everybody is happy! House is inspected and/or appraised, and it is determined that the house needs a new roof. Seller refuses to pay for it! Well, the USDA plan allows for a new roof to be financed! Hurrah! However, that spells DELAY! Hence, the loan amount increases,the mortgage liability increases, and more than likely the debt ratio goes up! This means that it will need to go BACK to underwriting! Sometimes this is 1 day, or 1 week! Depends on volume! PLAN AHEAD!
LASTLY
USDA LOANS DO NOT REQUIRE HOME INSPECTIONS! Hello?? Bueller??
"Please email me prior to linking or soliciting a product or service on my blog" - The Management
Proudly serving the entire State of Wisconsin since 2003!
To anyone reading this blog, visit www.cancerfuture.org to hear the story about one of our local Business owners, and long time residents! Please help if you can!- Thanks!
I thought about my blog long and hard since last week...I originally published it with the statement listed below, but for some, that wasnt good enough...Sooo...contrary to my thinking, I decided to pull it, or take it down. This was VERY discouraging to me, because in the end all I was trying to do was help. I have/had more faith in the quality of the Realtors on Active Rain than in general because everyone on here seems to WANT to learn more!~ I am even LEAVING some the comments so everyone can read the intial ones left, as I have never been afraid of criticism. I deleted several that were out and out abusive. I also have deleted all of the pictures I personally had taken because examples of what I am talking about, dont seem to be what people want to see!
This was my intial disclaimer
"The following pictures are ones that I have taken on my way to work each day over the past week. I have "whited" out some of the names in order to avoid "issues". My only intention for this blog, is to create awareness, and make suggestions! Nothing is meant personally! Please enjoy the video and music at the end of the blog! Thanks! Bucky
Ask yourself, what is your sign doing for you?
How is your sign portraying your business? How is it portraying your clients home, and what does it represent?"
Over the past couple of weeks, I have noticed MORE AND MORE the For Sale signs in people's yards...some good, some bad, some ugly, and some nice!
My investigation, prior to doing this blog, revealed some interesting persepctives. I would like to share them with you today!
1. Getting a LENDER PARTNER- Some Realtors don't believe in this. None of the signs that I have seen over the past 2-4 weeks have anything to do with a Lender partner. A Lender partner can help you in sooo many ways...just today for example, I stocked a flier box for one of my Realtors. I called another that I am trying to become involved with about their sign having fallen down..at this time, they have not returned my call. NOT having a LENDER PARTNER is a BIG BIG BIG mistake! Rate sheets attached, examples of payments, and working open houses together are just s few QUICK examples!
2. Making sure you have a flier box- I have found during my "investigation", that the general attitude of Realtors who do not have one up is due to them wanting the customer to CALL THEM DIRECTLY off of the sign. BIG MISTAKE!! To me, that is pure arrogance! Or, as I have found thru this blog... in some areas, the flier box is just not allowed! This is sad. Nothing you can really do about this!
3. Most Realtors do not employ a call capture system. This combined with a flier box can be a wonderful way to develop business! Of course, there is a cost. My guess is that quite simply most Realtors do not know about these types of systems! If you have a question about this...email me at Darin@osmwi.com
Think SOLDIER OF FORTUNE!
4. Many of the signs I have seen are tilted, falling down, or in sad shape. Does your company have someone that takes care of this? Or are you personally responsible for doing the work. Either way, going professional all the way is what I am sure everybody wants for their business!
5. It is clear to me, people were offended by my intial post. Well, to that I would say I'm sorry. However, again, if this does nothing but open your eyes to the fact that no matter HOW GOOD a REALTOR you are, sometimes a fresh perspective from "the street" is a good thing! Maybe you should look in the mirror and ask yourself if I offended you, or if it hit home so well that you are really mad at yourself~
6. In no way would I ever want to TACKY UP a For Sale sign! My only suggestion would be to make sure it is in good shape, legible, has all kinds of contact information, and is working FOR YOU, rather than against you! Website information is ALWAYS good on a sign if it fits!
7. Lastly, I am sure that you drive by your listings time & time again. Many of you do not HAVE A PROBLEM with how your equipment looks, but rather than looking at it from YOUR perspective, try looking at the sign from a BUYERS perspective! Do you think that most people have a pen & paper in the car, ready to write down your phone # on their way home from church?? I dont think so..I never did! Do you think from JUST THE OUTSIDE a perspective buyer on a Sunday afternoon can guess how many bedrooms the home has? Many people would say, they can just look it up on the internet...Well, what if they are not online? Dont you think it would be GREAT if they could call an 800#, get information on JUST THIS PROPERTY, in YOUR OWN VOICE, without the hassle of going through the listing line, and putting in a Listing #, etc...and having to navigate the company phone tree? Lastly, wouldnt it be nice to have these perspective buyers phone# and contact information? I think so...because if they are not going to buy THIS HOUSE, they are STILL in the market for one right??...or, why would they have called!
All in all, the SIGN IN THE FRONT yard can do alot for you, or not. What you do with it does reflect on your business to the public, as well as HOW HARD you trying on behalf of the seller to sell their wonderful home!
Here are some basic and some "not so" basic suggestions regarding signage and it's use!
1. Paint the thing if it is a wooden post!
2. Don't go cheap!
3. Flier box EVERY TIME!- Make sure it is weather proof!
4. Get a Lender Partner- They can help you replenish the fliers and help you defray any costs, as well as supply you with financing deals!
5. GET BETTER FLIERS! Have your Lender partner help you, and if your listing qualifies for financing deals, ADVERTISE IT with additional signage! IE: "THIS HOME QUALIFIES FOR 100% Financing with the USDA"
6. Consider LIGHTING the sign, with a Solar Powered single light! Be the first to do this! You can go with one that is $9.95 aiming UP at the sign like they sell at Lowes or Home Depot, or they make ones that CLIP ON and shine down on the sign! , (about 40 bucks)
7. Make sure your sign is straight, and can easily be seen! Kathleen made a comment on this blog about REFLECTIVE signs...that is an awesome idea too! Thank you!
8. If you attach balloons to the sign for an open house, or any other event, make sure you take them with you and dont let them "die" on the sign!
9. Consider adding a "feature" attachment to the sign...like "waterfront, stables, or other exciting features".
10. Make sure they are easy to add things to..like the texting feature, call capture, or OPEN HOUSE SIGN! In other words, try to go away from Tradional and embrace change! Making sure the sign is versatile it key!
I am a very proud Lender looking to do nothing more than help people sell!
Click on the U TUBE for the video! Enjoy!- Bucky!
Thanks for reading & Keep selling!
-Darin-
As always, I welcome your concerns,comments,issues and suggestions! Darin@Osmwi.com
You can suscribe to my blog by clicking HERE, or by clicking on the ICON below!
Feel free to check out a few of my more popular blogs by clicking on the links below!
"Please email me prior to linking or soliciting a product or service on my blog" - The Management
Proudly serving the entire State of Wisconsin since 2003!
To anyone reading this blog, visit www.cancerfuture.org to hear the story about one of our local Business owners, and long time residents! Please help if you can!- Thanks!
Hello! It's Bucky again! In the past I have done blogs on making a GOLF outing work for you, Open Houses work for you, then another blog on Open Houses, and have even done what I consider inspirational blogs like one on the movie WALL-E. However, today I have decided to try and help my fellow RAINERS by doing one on the dreaded "Home Improvement Show" and making it work for you! This was our booth at the Dane County Fair, and is nothing special....but please read on..
First things first, if you are going to effectively work these shows you HAVE to get a system down.
What I mean by that is that you just cannot "throw things together"..you have to have transportation available for all of the equipment, you will have to be there ON TIME for your loading & un-loading, you have to have someone in charge of materials, you have to have a good booth location based on your business, and you absolutely have to have the BOOTH MANNED with people that are FEARLESS, POSITIVE, and willing to talk to PEOPLE!!
If you do not have the things listed above...bail, and dont do it! NO booth, is better than a bad booth!
Here is a quickie list of some things to put in a rolling TUB, and we will call it your "TRADE SHOW" tub!
1. Duck Tape 2. White Christmas Lights 3. Several long extension chords 4. Several Power Strips 5. Clamp On Lamps/or lights 6. Extra Table Cloths 7. Clothes pins 8. Table Skirts & Clips 9. Velcro 10. A Tool Kit & Tons of extra BUSINESS CARDS!
1. A home show normally has a "theme", so STAY with the THEME!
2. Add MUSIC to your booth! - People love this! Jazz,blues, or FUN music!
3. Add a TV in front with DVD's running on it of Disney movies, or popular kids movies like Harry Potter! - This attracts the kiddies, and obviously allows YOU to talk to the parents!
4. Dont put tables IN FRONT OF THE BOOTH for Pete's sake...make your booth inviting..put your tables on the side, or if you have racks of information..put them in the back or on the sides! This draws people INSIDE!!!
5. Have a putting contest...even THOUGH your event or company may have NOTHING to do with Golf...everyone can mini golf! Plus, to enter, you need their info right? You can rent this stuff, and trade show booth companies have all kinds of access to this stuff!
6. Give something away- I like to give away a nice Patio Set...everyone can use them, even in an apartment building...and they may be buyers someday too! Again, you get all their information for the drawing! Another idea might be a HUGE jar of GUMBALLS or something GIANT!
7. Decorate your booth based on the THEME and/or like a home! Dont JUST rely on your company SIGNS etc... Put fake ficus trees, lights, a couch, chairs,tables,lamps,....anything to set it apart! Also, CARPET IT!!! Many companies sell VERY VERY EXPENSIVE booths and design them just for YOUR company! I am not convinced this is necessary UNLESS, you have a "branding" effort working along side the show!
8. Consider hiring a Mascot from the local University and have pictures taken with the kiddies! Give these pictures away! You can add at the bottom, "Courtesy of One Source Mortgage, LLC", and it serves as a reminder of where it came from! Coordinate this effort with your other efforts to DRAW people to your booth...like any print advertising, internet, and/or radio/TV advertising! In our company case, we had Bucky Badger at our booth. We could say on the radio, come out to the "One Source Mortgage, LLC booth, and have your picture taken with Bucky from 1-3pm on Saturday. The Home Show actually had a Board of Events in front of the opening to the Hall, and they put these TIMES on there too!
9. Have applications ready RIGHT THERE IN THE BOOTH, and advertise that! For example, Come out to the Home Show and visit our booth, and get pre-qualifed to purchase a home RIGHT ON THE SPOT! This is easy folks with today's technology!! Talk to your Realtor/Lender Partner!
10. Have people in your "sphere of influence" work WITH YOU in your booth! Cross selling helps everyone, and allows you to split the cost with them too! Additionally, if you are a small company, this helps you MAN the booth!
All in all, these things can be a phenomonal way to solicit your business! If you are a Realtor, what better way to also showcase your listings, and Open Houses! If you are a blogger, it is a GREAT way to solicit your blog! If you are a lender, what's better than someone wanting to IMPROVE THEIR HOME in THIS economy? Nobody has piles of cash just laying around...so they WILL need SOME kind of loan!
Lastly, when you are NOT working your shift, use this opportunity to talk with OTHER show participants about "teaming up", or working together in the future! These shows not only develop business, but also new business partners!
I think this graphic from the Sales institute says it all! Closing the deal is 40% of the transaction! Hence, having a quality SYSTEM inplace, not just to get your booth going, or in dealing with the challenges a home show presents, but also to have a system for following UP WITH THE LEADS your hard work generates is critical!!
You can create all the Sales leads you want, but not following through on them, is the #1 failure by most sales teams!
************
A few words of caution also:
Try not to get caught up in the "complaining" by other booth exhibitors! This happens ALL the time! Remember, mind over matter.."I dont mind, because they don't matter".
Be careful of the other booth people wasting your time! Remember, you are here for a purpose, not to chat with your neighbor! There are breaks, and before & afters for this!
Lastly, work your staff on shorter shifts! This keeps people from getting tired, and wanting to sit down! Be up, friendly, and ready to talk!!
Thanks for reading & Keep selling!
-Darin-
As always, I welcome your concerns,comments,issues and suggestions! Darin@Osmwi.com
You can suscribe to my blog by clicking HERE, or by clicking on the ICON below!
Feel free to check out a few of my more popular blogs by clicking on the links below!
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
Today- Martha Brown has a 
#1. The OTP has a scheduled "on or before date of closing", WE DON'T SCHEDULE closings! Realtors do! 
Posted by 
with Bucky from 1-3pm on Saturday. The Home Show actually had a Board of Events in front of the opening to the Hall, and they put these TIMES on there too! 
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