"I dont want to survive, I want to live!"- great line from the Disney Movie WALL-E! We can all learn from this movie! Wonderful MESSAGES! - 12/27/08 06:42 PM
Last night, as usual in Wisconsin, it was crappy outside!  Sooo...I was so happy to have rented the movie Wall-E.  It is from the same group at Disney that came up with Finding Nemo, Cars, and The Incredibles....so I thought, hey, I am single guy..at home, Friday night...what the heck...Ill watch a kids movie! I am glad I did!  

 
I am not on Active Rain to give movie reviews!  However, I am a movie buff, and thought, based on the season, holiday, and spirit of the year, I would do a short blog on what this movie, and others … (8 comments)

Steve the Plumber! GREAT QUESTION!!!! Follow up PART 1 on if PMI is Evil or not?? PMI companies are driving the loan industry! Great rates in Wisconsin! - 12/26/08 05:01 PM
First off, this is a question I received from "Steve" that really had some meaning for me!  I was going to blog on something else, but this did more for me creative juices today than anything else!  I am posting his question, my brief reply, and THEN, what I found out from MGIC customer service!  Steve asked some fantastic questions, and raised a concern for me as well!!  Please read!  Thanks...btw it is in response to this blog:  http://activerain.com/blogsview/833748/Mortgage-Insurance-Evil-or-not-Radian-picked-a-heck-of-a-time-to-be-naughty-PMI-or-piggy-back
 
I thought PMI is insurance, paid by the borrower, to protect the lender in case the loan goes into default?  Why aren't these … (3 comments)

Have you heard this question recently? "I heard last night the the FED lowered interest rates?" What does it mean? A brief but techincal explanation! Wisconsin Rates are still great! - 12/24/08 01:54 PM
Due to the HIGH VOLUME of phone calls I received the past week or so, I thought this topic was worth revisiting!  I am getting a call at least every hour asking me, " I heard rates went down, what does this mean for my loan?"  This is a very challenging question, because it really depends on SO many things!  I will save those for another blog, but for today, here is a very brief, READERS DIGEST CONDENSED VERSION of WHY  mortgage rates don't get better right away when the FED announces interest rate drops!
So the Federal Reserve cut rates … (1 comments)

Top 10 Suggestions TO LENDERS to smoothen deals with Realtors! See my other blog for Realtor Suggestions! Even with 12 inches of snow today, appraisers found the igloos to appraise! - 12/19/08 06:03 PM
For purposes of clarification:   
              OTP= Offer to Purchase           GFE= Good Faith Estimate      CHATTEL=Personal Property           MLS= Multiple Listing Service       BOA=Board  of Realtors BNI=Business Networking International
Hello everyone!  My blog earlier this week was top 10 suggestions to Realtors, so I thought I would go the other direction and give my fellow originators some suggestions also when working with Realtors!  Sooo...here goes! :)1.  The minute you get an OTP,notate in the file, in the sky, on your palm, on the wall in your office, or anywhere for pete sake, exactly the day that the LOAN commitment is due! 
Logic:  Realtors cannot stand having to remind … (3 comments)

Top 10 suggestions to Realtors that help Lenders get your borrowers financed! 100% included! - 12/17/08 10:41 AM
 For purposes of clarification:                 OTP= Offer to Purchase           GFE= Good Faith Estimate      CHATTEL=Personal Property          MLS= Multiple Listing Service
With the ever changing lending enviroment, I think it is MORE IMPORTANT THAN EVER that Realtors & Lenders work together and from a unified front!  To that end, I think education is paramount in accomplishing that goal!  Here is my first "suggestion list" to any and all Realtors, no matter where you are located!  Some of these items will seem trivial and small, but let me assure you that if you print this list and read it everyday, until it is burned into … (29 comments)

What is a down payment? Does it matter if it comes from drug sales?? LOL Wisconsin Rules! - 12/15/08 04:04 PM
Seriously folks, I thought of all the blogs I have read lately, this one, was  really important!  It is a largely misunderstood part of the process and hope it helps customers, buyer, sellers, Fsbo's, and realtors alike!  Thanks for taking the time!
Mr & Mrs. customer,  you truly NEED TO KNOW what a down payment actually is, and how we as lenders perceive them!  This is going to be a rough rough rough outline, so please email me for specifics to Darin@osmwi.com.  Keep in mind, that down payments required, are different from loan program to loan program.  For example, Conventional programs … (8 comments)

Mortgage Insurance! Evil, or not? Radian picked a heck of a time to be naughty! PMI or piggy back? - 12/12/08 07:14 PM
Hello everyone!  It's me again, affectionately known as D-Money!  :)
For the first time in a long time, I kinda had a bad day today!  It is ALWAYS A GREAT DAY to be in the mortgage business, but I lost a very large mortgage customer today that I have had with me for almost 5 years!  Why you ask?  Not because I did something wrong or badly, but because EVEN THO my rate and closing costs were lower than his Credit Union, they had cheaper PMI!  AND CHEAPER BY QUITE ALOT!!!!! Thus in turn, his payment was significantly cheaper!   This makes … (8 comments)

When good faith estimates go bad!!! Request, no DEMAND a copy of the lock in agreement! Madison Wisconsin, please READ!! - 12/11/08 06:20 PM
Hello everyone!
Couple of years ago, my father sent me an article from MONEY MAGAZINE that was entitled "When good faith estimates go bad".  It was an awesome article actually, and the reason he sent it to me is because it featured one of my "so called competitors" in Madison, Wisconsin
The article is dated May, 2006, and was written by Ellen McGirt.  YOU SHOULD ALL GOOGLE IT!  It is the best example of why quality mortgage lenders such as our company, and others are still in business, and alot of the reason to blame for WHY we are having problems … (4 comments)

100% Financing is still alive and well! Use your tax credit, buy a house today! - 12/10/08 02:38 PM
This is TOO good of a program to let pass you by!  We have GREAT interest rates right now!  Add to that the wonderful tax credit you will get, plus a little bit of FHA or USDA, and you get a great home at a great price, with great terms, and no landlord! Best of all, little or no down payment!!!!!   STOP RENTING and start buying people!  Call me!  I need phone calls!  Seriously!  This is the best things have been, period, end of story!  WE STILL HAVE A 100% Financing product, and today's rate with NO points would be 6%!!!   Come … (0 comments)

Tax Credit! You have 6 months remaining people! Tax advantage! Buy a house why dont ya! - 12/09/08 04:31 PM
This is TOO good of a program to let pass you by!  We have GREAT interest rates right now!  Add to that the wonderful tax credit you will get, plus a little bit of FHA or USDA, and you get a great home at a great price, with great terms, and no landlord! Best of all, little or no down payment!!!!!   STOP RENTING and start buying people!  Call me!  I need phone calls!  Seriously!  This is the best things have been, period, end of story!  You all have to just start marketing to renters, insurance agents who have renter lists, home buyer … (0 comments)

Trust & Cooperation! The key to the Realtor/Lender Working Relationship in Wisconsin - 12/09/08 01:54 PM
Over the course of my 20+ years  in the mortgage industry, I thought that I had heard it all, seen it all, done it all, and could forecast it all!  It is very clear to me now that NONE of these things are true!  However, I do clearly understand that there is, and always has been, a serious "cloud of doubt" hanging over the heads of lenders, as well as  a "cloud of dis-loyalty" hanging over the heads of realtors. This blog posting is quite frank, so please don't take offense!  We have to work as a team in order to survive, … (6 comments)

Trust & Cooperation! The key to the Realtor/Lender Working Relationship in Wisconsin - 12/09/08 01:49 PM
Over the course of my 20+ years  in the mortgage industry, I thought that I had heard it all, seen it all, done it all, and could forecast it all!  It is very clear to me now that NONE of these things are true!  However, I do clearly understand that there is, and always has been, a serious "cloud of doubt" hanging over the heads of lenders, as well as  a "cloud of dis-loyalty" hanging over the heads of realtors. This blog posting is quite frank, so please don't take offense!  We have to work as a team in order to survive, … (0 comments)

Trust & Cooperation! The key to the future in working with Realtors in Wisconsin - 12/09/08 01:44 PM
Over the course of my 20+ years  in the mortgage industry, I thought that I had heard it all, seen it all, done it all, and could forecast it all!  It is very clear to me now that NONE of these things are true!  However, I do clearly understand that there is, and always has been, a serious "cloud of doubt" hanging over the heads of lenders, as well as  a "cloud of dis-loyalty" hanging over the heads of realtors. This blog posting is quite frank, so please don't take offense!  We have to work as a team in order to survive, … (0 comments)

FreeCreditReport.com vs. The others! GREAT alternative credit website! Wisconsin Customer tips! - 12/07/08 02:49 PM
Well, so far, I have been to over 18 hours worth of "credit repair" training, as well as HOW credit scores work, and can be improved. I have learned ALOT during these seminars, webinars, and training sessions.  Sadly, I have learned that even with over 20 years in the mortgage industry, I had been advising people incorrectly!  ARGHHH....  Well, in the olden days, we used to actually instruct people to  "TEAR UP" all of their credit cards, and/or cancel them after a debt consolidation loan!  I now realize that is/was a mistake!  Though I am not a licensed and certified credit counselor, we as lenders are … (3 comments)

 
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