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Mortgages: SO EASY A CAVEMAN can do them!

Apparently, the general consensus amongst many people is that Mortgages are easy to do and that communication solves everything! Well, today I have decided to give everyone a glimpse into my life in the Mortgage business. True enough, maybe the actual MORTGAGE is easy, but it is the "hunting & gathering" that is the problem! I realize that many people can already appreciate that things have become more challenging, but I truly want you to know that I AM NOT A CAVEMAN and it is not easy!

8:08 am, got to office, large coffee.

Turned on computer, checked email, had 38 emails since 10:30 the night before. Responded to most.

8:45am - checked voicemail, had 17 messages since 6:39pm the night before.

9:00 am - Attended online Training Webinar with Fannie Mae/DO. It lasted 50 minutes!

10:00 am - Met APPRAISER at "fixer upper" house I am doing a USDA loan on!

10:30 am - Checked voicemail, 7 messages, checked email, 18 more.

10:35 am - Reviewed email from Gerry Suarez regarding the new Condo Mortgagee Letter, and told him I would go over it tonite and cover with group on conference call tomorrow. Printed document and noticed it is 14 pages long.

Answered questions from 2 different Realtors all the while I was reviewing my email, and also showed one Realtor how to figure out PMI costs, and gave them the website link.

11:00 am - Visited with Edward Jones Rep who I swap business with...Note, so far, only bit of marketing.

11:30 am - Ran to Quick Trip, spent $2.10 on two hot dogs & a JUMBO coke!

11:45 am - Answered online questionaire for Bank of America about loan volume, # of loans closed etc...as they are threatening to cut us off, as we don't send them enough business.

Took a hot tub..as the caffeine has now worn off, and the Coke is not enough! Wait, I said I am NOT a CAVE MAN!

12:15 - Inputted New Loan Application, Ran Credit, and prepped all of the USDA documents. Filled out reservation of funds forms, called USDA rep, he didnt call back, called title company and got the CPL & Wiring instructions.

12:30 called C21 agent to find out where title is for another loan..he didnt answer, didnt answer earlier email, and all I need is name & phone number of title company. Short Sale and dont think he cares!

12:38 - Heard the quote of the day. "Patience is not a virtue, it is an expectation"

12:55 - Filled out USDA documents for another customer, and while doing that, answered her call and she said she would be late for our 1pm appointment. She could be there at 1:15. I complied...because, that is what we do. We adapt, we overcome..etc..

1:00 Tried to reply to disparaging blog comments, but lost the stomach for it...maybe the hot dogs..but more than likely the stupidty factor was involved...Either way...it was a waste of time.

1:15 - Met with customer who was late. She only had a few minutes as she overcommitted, so she signed required documents and took off. Still don't have the bids I was promised two months ago!

1:30 - Answered a call from Sally & David Hanson on one of the 2 deals I am working on with them. One is going well, the other still looking for the right house! We discussed business for about 15 minutes, and I had to go, as I had an underwriter on the line.

1:45 - Spoke to underwriter on my bosses mortgage loan. Her loan was suspended because even though it is a Vacation home, it showed up on an underwriter search with WELLS FARGO as a Vacation Rental. Ad was run 2 1/2 years ago, and forgotten about. Wells has to call it now an INCOME PROPERTY! Hmm...great next call I am sure you can guess! Btw- Good credit, no debt, 67%LTV.

2:00- Called C21 agent again, no answer, no return call, no email. Called Wells Rep to discuss loan, no answer, no return call, no email. Took a walk-in question, and answered a panicking call from another client who is being threatend by his exwife to pay up on equity that is no longer in the house. In addition, I cannot get him the loan because she pocketed the house payments, and they went into pre-foreclosure.

2:15-4:00 pm- worked on loans all day. This included talking with multiple customers, walk ins, situations with employment, an insurance agent who would not insure the house for the sale price, OR give it 125% replacement cost. Responded to more emails, filed a complaint at AR about a dishonest member, typed 2 pre-qualification letters and ran DU on 1 file, DO on 1 file.

4:14 pm - Received Appraisal that was done in the morning from appraiser! Came in 23k above Sale Price, and 30k under assessed value. (YES YOU READ THAT CORRECTLY) One more reason HVCC sucks! How's that for service folks!!

4:30 pm - Made multiple phone calls, c21 agent again as I NEED the information for my submission, 3 different APPRAISERS to get some info on the HVCC rules regarding contact with Listing agents, ALL with no return calls, called & emailed Wells Rep, no call back.

4:45 pm- Sold my ski boat

5:00- Ex girlfriend called me and is getting married!

5:15 - Returned more calls, started writing this blog.

5:22 - Blog on Hold for a little bit.

5:30 Interuppted again by more emails, so I had to respond. In addition, I reviewed 19 page FLASH TOPICS update from Wells Fargo that covered Additional Details for the Implementation of the HERA Mortgage Disclosure Improvement Act,Hazard Insurance on Condominiums: Unit Owners Improvements and Betterments Policy, and Clarification: Subordinate Financing - Including DAPs - Will be Allowed with LTVs Greater than 80% (note, we get these types of things every other day)

6:00 pm - Didnt go home for dinner. Worked on Files

6:30 pm - worked with customer for 30 mins on credit issues, and structuring an LOX!

7:18 pm finally got an email from Agent on Short Sale Title, but no phone call! Great, I can call tomorrow. 1 more day delay that I will be blamed for!

More file work...........

Here it is 8:18pm, and I am finishing my BLOG.

About to hit publish. Please UNDERSTAND! One & all - while reading this...Realtor, Lender, Appraisers,Title Companies, AR Gods,Home Inspectors, and Commentors Alike...THIS WAS ONLY PART OF MY TRUE DAY!

We are busy in more ways than one! Time Management is ALMOST out the window! When I try to practice it, I am told that I dont return my calls promptly! Having an office assistant is not the answer...as I know that is what you were thinking...Understanding, Cooperation,Trust,Realtionship Building & more than anything, the willingness to accept change are the answer!

This job is not easy, and most certainly a CAVE MAN cannot do it!
It has progressed way beyond check stubs & w2's, so please dont tell me if I can do Cave Paintings I should be able to close a loan in 12 days!

Thanks for reading & Keep selling!

-Darin-

As always, I welcome your concerns,comments,issues and suggestions!

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Posted by Darin Osenberg on 06/17/2009 10:41 AM

Comments (96)

Mortgages Are So EASY a Caveman Can Do It! in the Mortgage / Finance Channel

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96 Comments on Mortgages: SO EASY A CAVEMAN can do them!

JUN

2009

Hi Darin~ Whew! You wore me out just by reading it,LOL! I for one, could not do your job. I commend you for all you do!

Vickie- Thank you..and I commend you as a REALTOR for what YOU do! We both have a place in this world!! :) Appreciation seems to be lacking...so, I appreciate you! Oooh oohhhooooh Wugga wugga

Hi again Darin~ Thanks Darin. I think we all need to know that we are appreciated for the jobs we do, especially when we put our heart and soul into what we do. By the way, your cave men pictures crack me up!!

It looks like you better hide in that cave for a while and catch your breath! You certainly go above and beyond what many people would do.

JUN

2009

How dare you feature my ex-boyfriends' pictures in your blog without asking :) ! There are lenders who work hard and those who hardly work....we know that...same stuff different day with realtors. If you serious about your career....it is a frustration when others are not....Blog on...

You are so creative and a busy bee indeed....which one is you by the way? LOL?

Bad picture of me! But funny..I look like I am selling cheap watches!

Vickie- Thanks for commenting too btw- Glad I can make you laugh at a stressful time!! :)

Joan - Nice to see you here again!! I got in late today, as I didnt sleep last night...stressed, but will be here late again today! THANK YOU for sharing!! I truly appreciate it...and I think we need to create MAARS. Mutual Admiration and Respect Society!! LOL

Take care...thanks! Buckster!

Hanson's- Hope you didnt mind me giving you link love!!! You guys are awesome...and I know YOU go way above & beyond! I am trying to do the same..I just think helping better have a better understanding about what we do is one of the keys!! I really do! Take care, and thanks!

Darin

aka; Bucky Buckster R Buckster

Kristin- Thanks for stopping by!!! I am the one in the hottub...No, not really! I am Swedish..I cannot grow hair on my face or chest! Woopps!!! Sorry...I know...TMI!!!

I have a flair for being wordy I realize that too..but creativity has always been my strong suit I think! It is the musician and animal lover in me!! I think if we stop marketing, we are dead! Only way to set ourselves apart, is branding thru creativity!!! :) Thanks again! Darin

Darin - You just know there's some creative slap out there who has a reality show prepped for our side of the business. This certainly is an interesting glimpse into a day of one busy loan officer.

Thanks Sardi! Yep....and because it got too long...I wanted to add this...an assistant, unless trained for anywhere from 6-9 months..isn't really worth their weight today, vs...2 years ago. The questions we get now from Realtors are VERY u/w specific, OTP specific, etc...and need to be handled by someone experienced...so EVEN if I had a "girl friday", or a "handy Andy" it would help A LITTLE BIT, but not very much!!! Reality show here we come...How about putting our group of 16 in a house with Angelo Mozilo, and others huh?? I think I would need a get out of jail free card going into it!!:)

Thanks! - D

Darin,

Thanks for your post. I spent some time in the hospital after starting my days at 5:00am and ending them at 10:00pm regularly from March through May and it finally caught up with me. I appreciate the diificulty you're going through. This business is a full contact sport and sometimes we get it right in the chops. I appreciate the glimpse you show into the life of a mortgage professional.

God Bless,

Travis Egan

Darin,

Was there any connection between your hectic schedule and the ex-girlfriend marrying someone else?

At least you took a few minutes for the hot tub! Sometimes even a little break makes us better able to meet the next challenge.

Great post, Love the Caveman.

Darin,

Mea culpa, mea culpa! I promise to send every mortgage broker, every lender, every processor that I've ever worked with...a virtual rose this morning.

Travis, VERY nice to hear from you! I am very glad you are doing well! You know, I dont think there is enough information given to OUR profession as a whole on the effect of stress on our bodies, personal life, love life, business contacts, etc..etc..etc...Im sorry you had a rough go..and am glad you are back at it! I truly appreciated the MORTGAGE PROFESSIONAL COMMENT! Boy, we have come a long way eh?? Take care! - Darin

Irene- NO, no connection! Just kinda wierd that it all happened yesterday!!! :) You are funny! I am installing a hot tub (cave man style) in my office...I figure I sleep & eat here..might as well, relax here too!!! Oh, and caveman style is a Large Tub on top of hot magma! LOL Thanks for sharing! D

Tim- Nice comment! I appreciate it! My posts normally are a little long, but thought out, and I try to be funny too! Like Travis said, too much stress equals to much stress!...well, at least that is what I surmised! Thanks for sharing! - D

Scott, you are hilarious and correct in the same sentence! You should send them a big kiss too! JUST kidding! Seriously, it is the little things and time eaters that cause us all to lose focus, and TIME!!! Before you know it, it is 515, and everything is closed, and then YOU REALLY cannot get anything done...Wait, well, then you can...because your phone stops ringing! Hang on..my phone is ringing!! LOL...thanks! Darin

You have it going on thats a good thing. Thats a lot of calls. I must get the least amount of calls per business I do.

Chuck- YOu know, We in the actual LOAN side of things now...are getting SO many calls that only involve education, teaching moments, answering questions etc...it is MIND BOGGLING! However, it seems to me that when we field these calls, sometimes it leads to deals down the road! The challenge for me has been, that in the past, I WAS ALWAYS so available to people...and now, if I dont call them back the same day...people think I am dodging them! Hence, I am changing my voicemail today to state, that I will "due to increased volume and time delays in the mortgage industry, our committment is to return all phone calls within 24 hours! ....I dont know...if that is an easy answer, but then the expectation is at least there! - Thanks again!! Take care..and keep marketing! - D

Wow. You're so lazy! Kidding :)

Anyway, thanks for sharing that. A $2.00 lunch is what stuck with me!

But seriously, it does help because imagination is not helpful in wondering what your mortgage broker is actually doing.

Darin: I read this last night and laughed. Congrats on your feature! You rock!

My questions:

Why did you sell the ski boat?

Why do you work 12 hours a day? Don't you have a new girlfriend that would like to have dinner and cocktails with you?

Deborah- You hit the nail RIGHT ON THE HEAD about the imgination thing...You get the coveted....

U know, part of the reason I wrote this, and took the time out of what was obviously a VERY Busy day...was to show people that we dont goof around! Today for example, I was on with FHA Resource for 30mins, asking questions about the new CONDO requirements that came out in the mortgageee letter two days ago...That way, when Realtors ask me questions, I have CORRECT answers!

Yes, quick trips two hot dogs and a coke...$2.10 after tax! Tax here is 5.5%! :)

Thanks and congrats! :)
D

Hey Janet! Thanks for stopping! GLAD i could give you a good laugh! Sad part is, that the schedule was serious!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Dammit all! :)

Ski boat sold was to "purge" myself of unwanted "things"...especially, as of this blog..when do I have time to go skiing......oh, and I live 1 mile from a 37 mile long lake..

I work 12 hours a day to afford the new girlfriend to have dinner with and cocktails! Funny thing is, that I havent drank in like 3 years..but days like yesterday and now TODAY are pushing me there!

Thanks for sharing! Have an awesome day! - My vampires & werewolves one, I am still working on!

Hey Janet! Thanks for stopping! GLAD i could give you a good laugh! Sad part is, that the schedule was serious!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Dammit all! :)

Ski boat sold was to "purge" myself of unwanted "things"...especially, as of this blog..when do I have time to go skiing......oh, and I live 1 mile from a 37 mile long lake..

Here, here brother! Great post. Really enjoyed it. I have had a stress headache for about three weeks with all of the mid-day rate changes and my phone ringing off the hook. Plus I'm late on the COE for about 5 deals, and the Realtors are giving me a tremendous amount of shit, even though it's not my fault.

Hi Karen! ...Thanks for sharing, and Im glad YOU could appreciate where I am coming from! We are just a small company, so the challenges increase HOURLY...as the calls, emails, and lack of return calls continue to mount! It stinks ! UDERSTAND AND EMPATHY are needed at a NATIONAL LEVEL! Where's your pic taken?? Havasu?? My folks live in Tucson! LOVE AZ! Take care- D

Hey Darin. Actually, this is Michael George typing. That picture of my wife was taken at a dolphin park in Cozumel, Mexico. It is my favorite picture of her-- she is so happy. What you can't see is that her extended arms are holding onto a 17 year old male dolphin who gave her more attention than any of the other swimmers. That's why she's laughing...

Havasu is wonderful.

Great post. Sounds like a relatively "light" day.

I think Realtors should have to work as loan officers first. That way they would understand what it actually takes to get these deals to the closing table these days and stop whining so much.

Realtor expecations are so far removed from reality these days it ain't funny. Hopefully, more post like these will continue to help everyone recognize and work around the challenges that we all face.

Michael George- What?? were you worried I was hitting on your wife?? JUST KIDDING! LOL....She does look happy! Too bad some of us, while earning nice checks, are stressing all the way to the bank. MORE vacations, less stress, that's what I am game for! LOL Thank you!- D

Hi Darin!

WOW! It takes a lot of work to be a great mortgage broker, and it looks like your one of them. I know I couldn't do your job, and I wouldn't even try! Great work, and I hope you have a better day today! :)

-Lisa

Russ- Welcome!! & Thank you so much for your comments! VERY interesting thoughts here...because on AR, we have Realtors who THINK they are LO's, Realtors that ARE LO's, Realtors that act like Lo's, and there are LENDERS that should think more like Realtors too!! While I agree with MOST of your comment, I would suggest this........WE AS LENDERS need to find a better way to get the message across, and educate Realtors on the rigors of lending. Everyone is VERY quick to say..yeah, I know you are busy...but sometimes helping them UNDERSTAND is our job...not theirs! I hope that funny but serious, witty and ridiclous, yet accurate blogs like mine here helps FIND ONE WAY TO DO THAT...that is NOT intrusive and attacking! I have discussed this very issue with TON's of people on Active Rain...and we all agree Communication solves alot of the problems but not all of them! Incompetence is Incompetence...and it is OUR JOB..within this industry, to promote fairness, honesty, integrity, and a sense of fair play! Negativity has no place in my life right now...nor should it! As Jeff Belonger says in his blog today...it is up to US to change the face of the industry! We need to do this through TEAMWORK< and UNDERSTANDING! THANK YOU so much for sharing! It is greatly appreciated! - D

Lisa- As always...you are welcome here in my world any time! :) Thank you so much for commenting! I would agree it is difficult, and actually, our difficulties have helped ME understand some of the issues REALTORS deal with every day too! THere are MANY days I wish I put apples in boxes all day! LOL....YOU are always appreciated! Thank you lisa!

D

Great post Darin - It sounds like you have plenty going to keep you busy!!

Best, Dan

Dan- Thanks..and I TOTALLY APPRECIATE YOUR COMMENTS! I have noticed your comments on other people's blog, and have almost ALWAYS agreed with you!! YES< i am busy...alot of my time though is EDUCATING THE PUBLIC, Realtors, and MY BOSS! I am constantly building for the future, and think it is good for people to know what we ACTUALLY DO!! NOT PLAYING DARTS!! LOL

Thanks again Dan, and for taking me on as an Associate too!! :)
D

Darin you are a busy guy, but what I am really jealous of is that you can buy two hot dogs and a coke for only $2.10 :)

George- AND IT IS A BIG GULP!!! :) LOL...That's all you got out of it?? LOL..just kidding! Thanks for commenting George! I love conversing with people who are experinced, or are experiencing the same thing I AM!!!! Thanks for our convo's! - D

Darin: My sincere thanks for the award. I would also like to thank "the little people" who made this all possible.

D, KEEP BLOGGIN!!!! Check out Jeff's blog today for sure too!! oh, and yes, I am little people! JK!

D

Darin,

I really love reading your blogs! I can relate. I work for a JV of Wells and just went throught the 2 hour conference call on HERA/HOEPA. The same day my manager also wanted a 2 1/2 hour office meeting the same after noon. Fun.

Your right we have to educate ourselves and the realtors we work with.

Keep up the great blogs!!

Wow, I'm exhausted....your day was super tiring! Maybe I won't gripe so much about how busy I get now!! :-)

Great post, Darin. And you've created a good buzz! Yeah for you!

Mind if I also ask a question of both you and those following this thread? I'm trying to find a lender who is familiar with doing Energy Efficient Mortgages (EEM's), particularly through the FHA Energy Star Mortgage program. Does anyone have any referrals they could send me for lending in Massachusetts?

Thanks again for the great post!

It is good to know that I am not alone in this universe and there are others out there feeling my pain. You described my day almost perfectly other than the girlfriend part. Thanks for sharing.

Tammie- Well then, I am sure YOU know what it is like then! Sometimes I wonder why we have AE"S too....Mine is really good...but even he gets overwhelmed handling calls that I am sure are NOT making him money! HERA is pretty serious too...what a pain in the ass!!! On a refi, how are we going to known exactly when 7 days before the closing will be huh?? Any correction for me here?? I did a blog on HERA actually! I enjoy the fact that YOU enjoy my blogs! I will always appreciate your perspective, so PLEASE feel free to join in any time...Maybe even SUBSCRIBE! Wait, that was a pitiful hit of salesmanship! LOLOLOL >...Thanks again! - D

Lainie- Didnt want to come off as griping...I just dont think people REALIZE what we go thru some times! THANK YOU SO MUCH for sharing and taking the time to read my blog! - Darin

Tim- I am working on your request. I sent your info to my buddy in New Jersey..>I am hoping he will comment on here, and leave you good info! If not, do a search on Active Rain for Lenn Harley, and ask her! She knows everything!!!

I really appreciate your kind words, and we need more readers, bloggers, and commentors like you....who is positive sounding!!!

Darin

Samantha- THANK YOU for commenting, and I am very glad you enjoyed the post! I think part of building VALUE in your own service, is by SHOWING value in your time! YOU are worth it! Im glad that DR. BUCKY could help you!!! LOL...>Thanks again, and I TRULY appreciate your subscribing to my blog too! Take care...Darin....Aka; Bucky r Buckster

Darin, Quite a day you had. I really liked the Acronym Decoder. I'm linking to it. Thanks.

Wayne- AWESOME! Im glad you liked it! THANK YOU for reading, and COMMENTING!!! I appreciate it very very much!- Darin...aka: Buckster!

Darin,

Clearly you do not have the "subprime mentality" :-)

We are very busy as well in MI. Its a nice change of pace from the privious 2 years.breadroot

JIM!!! I am so glad you are on here!~ Glad you enjoyed the blog too!! I have gotten some fantastic responses, and yours was NOT one I was expecting! Pleasantly surprised! Have you joined AR yet?? if not, lmk...Ill send you an invite! Comment away, and subscribe! THANKS SO MUCH! Glad to hear from you!@

D Money...aka; Bucky e Buckster

lol, this is a great parable! He, he, he. Thanks for the laugh and for making me think! hum. Deb

Darin,

Good evening. It is refreshing to hear someone who must realy enjoy there work. You would just hate to see some of the photos I post during my 'work' days.

Steven Zimmerman Realtor ABR GRI / Prudential Best Realty, Inc. / GULF HARBORS, Florida 34652

http://FaceBook.com/Steven.Zimmerman

http://GulfHarbors34652.net and also http://SeaViewPlace.Info

Darin... I am just curious to who is saying that mortgages are easy? In my opinion, even though we have gone through many changes, I think they are still relatively easy if you do your homework upfront. Meaning... I stole a deal over the weekend from another lender, after 1 dropped the ball and the next one was charging too much and lied about the origination fee, in who gets it. I wrote about this client here... FHA client and previous loan officer who lied.

In any case, I took this person's application Sunday night, had them approved in the system the next morning, with ratios fo 38/54, and had him sign all documents & gave me their documents on Tuesday. It went into underwriting today. yes, the work was tedious, while juggling other issues... but it was still easy. The property is also in a declining market and I ran the AVM today, coming back with a pass. There is no reason for this loan to fail now. All checks and balances have been taken care of.

Overall, yes, we know it has become more difficult, but again, not as hard as so many state. Again, I think it has to do with how you prepare your clients. But I will agree that there is more to juggle now and it takes longer to make other people, Borrowers & realtors, to understand that things just don't happen over night as it use to. These things can take time. And I will agree that it's hard to give that 24/7 service... but between e-mails and calls, it can still be semi easy to juggle them all. Hence why I prefer e-mails more, because easier to respond to in a timely manner. Phone calls can take more time. Anyhooo... time to go find a cavewoman. ;o)

jeff belonger

many can say they are a loan originator.. can they really get them to the closing table ? LO's have to work hard too. Keep up the great job

JUN

2009

Interesting post. The best part was the quote, "Patience is not a virtue, it is an expectation." I'm going to have to hold onto that one.

Good morning Darin- Loved your post. Sounds like your days are full. Full of communication, both receiving (ex: training webinar) or giving (ex: talking to realtors). It is certainly a different animal nowadays in the real estate field (both lenders and agents) and one we are all juggling to new heights with no let up in sight. BTW- I hear that starting 7/30 HUD1's are going to have to be to the Buyer for review 4 days BEFORE settlement. AND if there are any changes after that time period then there will be an additional 3 days added. Talk about added stress for LO's and agents. Yikes!!. Sure hope we all get on the same communication page before that goes into affect. :) But alas there will always be those agents (like your short sale guy) and lenders (no insert here LOL) who just do not get it and become the preverbial PITA (pain in the a$$).

If there is one thing I have learned from all the posts (mine included) in regards to communication is; when a transaction comes together I am going to let the other agent and the lender involved know upfront what my communication style is and ask them theirs. I am involved in one now where I did just that and it has been quite refreshing. Nobody is in the dark, we are all on the same page and we are all busy with more than just this transaction.

BTW- I am glad you are not a caveman. the look just does not become you. :) Although.... we ALL have probably looked just like that on some days. LOL

How can one post say so much and so little at the same time? Brilliant. I have learned the hard way that most of us mortgage folk live in REACTIVE mode. We do the e-mail, Blackberry, weekend, late night, voice mail, "I need this now" thing dilligently, and suddenly we have a moment of recognition and realize that we really don't want to live this way, but we're not sure how to fix it.

I've found a couple of things that work:

1. Brain purge. Take 15 minutes and try to write down the 100 things in your head. Literally 100. the human mind can only have 7 thoughts running concurrently and most of us in the mortgag world have about 70.

2. Re-vamp your voicemail. I leave a message that I will be returning calls between 11-12 and from 4-5. Sure, I take calls outside of that, but it starts to set the expecation for folks that I am PROACTIVE and am somewhat in control of my schedule.

Again, amazing post and I wish you all the best with your evolution from CAVEMAN to HUMAN!

This post made me wish that my zanax scrip didn't run out. FYI, Science showed tha the Neandrathal got a bum rap on intelligence. That being said, after reading your post, my day is lighter because you made me glad I am a Realtor and not in the mortgage business. P.S. I hope the ex lives or moves out of town, from personal experience I can tell you that helps.

Deb- aka; Lake..- I am glad I could make you laugh! I do hope the insight was helpful! Some of the commentors have stated that they think an assistant would help etc...Well, in today's market...that is just a HUMAN that answers the phone, because they would not be able to handle the questions. Even this blog has had questions that I have had to look up, or ask about! An assistant, no way! Maybe changing companies, with a FULL processing team would help though!! Thanks again..I like your comments on others blogs as well! - Darin

Steven Z- great to hear from you!! I am sure it is challenging down in Florida too, but geez...louise..you have an ocean...I have a creek and humidity!!! Ill post some FUNNY pictures some time too! JK!! LOL- Thanks for sharing...and come back often!

Darin - As a single mom of two and Broker/Owner I too feel pulled in many different direction. The great thing is that it sounds like you are busy! Great news!

Jeff B- I have had many many PEOPLE here on AR comment not on my blogs, but on others blogs stating things like income calculations are easy, that understanding guidelines are easy etc..etc.. Well, you know as well as I do, that is only part of our job, and it is the little IMPORTANT things that we do that eat TIME and makes us weaker in other areas! Just look at the troubles YOU described about a couple of loans in a recent blog...you had trouble with some AVM's if I recall. That trouble I am confident, translated into several phone calls, pulling up info on the computer..etc..etc..e.tc....all time eaters! Point of my blog was to giive people a glimpse into my day and what I do and go through. Again, it is the MAARS! Mutual Admiration and Respect Society!! :)

I have said this 100 times...it is the NOT knowing that bothers people, or causes confusion! If Realtors can understand what SOME of us go through each and every day...maybe, just maybe, that one time, they DONT get a call back within 2 hours..they will understand why!

I have ALWAYS preached laying out expectations, and I believe firmly they correct alot of the stress we all go through! I am sure there are times that YOU get busy, or invovled in something, and are not able to call people back in a reasonable amount of time...whether it be a business partner, customer, POTENTIAL CUSTOMER, or even someone within your marketing group! People understand...when they know!

Thanks for contributing!

D

Roland- GREAT TO SEE YOU HERE COMMENTING! I appreciate it! - I really appreciate the support! We need ALOT MORE OF THAT between members here in the RAIN!! Thanks again- Darin oh, and I may be moving to Nashville, so I would LOVE to have a chance to work with you some time!!

Integrity Mortgage- I grant you permission to use my original quote! LOL....Thanks for sharing!

Martha, you said;

I am going to let the other agent and the lender involved know upfront what my communication style is and ask them theirs.

This is an AWESOME idea, that I dont think many people actually think about!! It is SOOO simple and fantastic suggestion! Ie; Do you prefer emailing, texting, cell calls, what times..etc...what are your return call expectations?? Great!~!

Your comments are great, and TOTALLY appreciated! I am emailing you the FLASH TOPIC SHEET from Wells Fargo, as you had me THINKING about your HUD1 comment! So far, I have gotten 3 comments back that your statement is NOT correct! It MAY though be a Lender Overlay! I am emailign you directly the 4 page document on it...Is it possible, it might be a State Specific item also??

Thanks again!!!- D

Darin - Thanks for sharing with everyone a glimpse into our lives.

Mike at Blue Skye- You know, of all the comments I have received I really liked yours as one of the best! NOT because you were/are flattering me..but because you clearly took the time to not only read it, but digest it! THANK YOU! I spend quite a bit of time on the blogs I DO....and I dont do it a ton..and I normally DIGEST MY INFORMATION and try /please/beg...NOT to be reactive! I had said for years..and years....Bad managers, are REACTIVE not Proactive! This blog, is really a little of both! I am glad also for the suggestions! I have actually USED the vm one before, but the Brain Purge is one I am going to store in my memory banks!! Oh, and you might like this OLD blog I did....Thanks again.... Darin

Joe Pryor- Ex lives a long ways away, glad I am not a Realtor, and I think my pics were of CROMAGNON variety! I heard the same thing about Neandrathals...just recently actually! So...what you are saying, is that the gap between a Neandrathal and a Loan officer is smaller than we think?? LOL

Thanks for sharing! I love your blogs too man!!

Sheri- Juggling is directly related to marketing isn't it?? THE FIRST THING we quit doing when we are REALLY BUSY is selling & marketing!! Sad, but true! If you keep that in the back of your mind, it sure helps! THANK YOU for sharing, and please come back!- Darin

karl- It is nice to see people coming out of the wood work, when they realize they have an ALLIE (ally? ) in the business...and it isnt all about the AXIS powers! :) My shingle is always out...so feel free to visit! - Thank you very much for your comments! - Darin

Sorry I haven't read any of the comments yet, but I know how you feel! Plus, you're like Jack Bauer from 24! You need Chloe and a bathroom break!

Mark- Yep, I need Chloe, that is for sure!! The comments have been awesome, and best of all, it makes us feel like we are not alone!

I tried to put a JB picture in here, but looks like AR is having trouble right now!

Thanks agin...check back in for a funny pic!

Darin

Darin,

Wow what a day! You are one hard working guy. Thanks for giving us some insight to the other side of the desk.

Ann, you are absolutely welcome! Today, has been similar too! WOW...Now I NEED a breath! Funny thing is, where would we be today without caffeine??? LOL>...Take care, and come back often!

Darin

Your a cheap luncheon date!

LYN- If I was taking YOU to lunch, I would not be a cheap date! I guess it is better tho than going out killing, plucking & cooking my meal eh?? :)

LOL- D

btw- I am alerting AR to subtract 5000 points from your score for that comment! .........(jk)

Go Bucky Badger!! Good post too BTW.

Too funny Darin - 2 jumbo hotdogs from Kwik Trip - NICE!

I saw Bucky Badger and had to check out the blog...Go Badgers!!! Are you an alum?

Keep on truckin' :)

Darren, I feel for you buddy. I feel guilty as I have mortgage people wanting my referral business and the only think I can send them is garbage. Most good prospects already have a loan.

Lakes Area Realty..- WELCOME to Active Rain! Thank you for reading, and here's another good pic just for you..& Krista!!! STOP BACK OFTEN! Anytime you have a question...email me!!! I blog about once a week, or maybe every 10 days! Thanks- Darin

Krista- Nope, not an alum...Just a fan, and live north of Madison 15 mins...Love Active Rain, and hope you will come back and visit often! Bucky is something I decided to be associated with, because he is SOO very recognizable! Plus, I am not infringing in anyway, because I AM IN THE PICTURE with him!!!- Thanks again! Darin

Gene- As always, I am appreciating your visiting my blog! Glad you liked it, and thanks for the..............................empathy!!!! LOL Maybe the people looking for your business need to help you DEVELOP it huh?? LOL...Thanks again, and please come back! - Darin

Hey, friend!

5:00- Ex girlfriend called me and is getting married! No one should have to end a day like that! :)

I'm glad you sold your boat. Congrats on the feature!!

Mike in Tucson

JUN

2009

Hey Mike!

Thanks for the good word! ....Not making it out to Tucson till the FALL, which stinks..but hey I will get there!>>>TOO MUCH RED TAPE on our loans right now, and trying to get it finalized! Argggh...

Glad you enjoyed it and thanks for sharing!

D

Ok now you have me thinking about the comment I made about the HUD1. I also read the info you sent. But here's my question??? Doesn't changes on a HUD1 change the TIL? And if that is the case then if changes are made at the settlement table or even a day or two before (IE: seller walk thru repair $$'s, fees changed from one side to another, etc) does that then need to generate a new TIL? I know, I know, I am not a lender but I sure as hell am curious. It can cause huge problems on this end if that is the case especially if there was another settlement right behind it dependent on the settlement in question. Your thoughts??

Hey there Martha!

Okay, GREAT QUESTIONS!...so, let's deal with them one at a time. & , they should be VERY SERIOUS concerns too!

1. Not all fee changes affect the APR on a TIL that are changed on a HUD1! So...to answer your question PROPERLY i would HAVE to know a specific example. So..let's throw a couple out there...If the appraisal fee changed from 325-400. This is a specific "hard copy item", so it IF it is being FINANCED, it would affect the APR, yes. However, on a purchase, unless it is a USDA loan where you are rolling in the costs, this would not change! If it a repair cost, going from one side of the HUD to the other, we are also GOOD to go! WHAT THIS MAY AFFECT is your LOAN APPROVAL though, because say the repair was 800 bucks...And, the remaing cash VERIFIED in their CHECKING was 600, but they really had 1200....it MAY hold up the closing for RE-APPROVAL on the loan! Arggh..

2. Repairs etc...are being SOOO very scrutinized, that in MY WORLD, these ALL have to be dealt with UPFRONT!!! So, if a new TIL or GFE needs to be provided, then the lender has to redislose right there! In a nutshell, here's a QUICK breakdown...Initial meeting...give Good Faiths, then within 7 days of closing, re-disclose....WE ALREADY Re-disclose AGAIN at the CLOSING TABLE...so...I am sure we will be okay in the scenario's you describe.

3. WE are all being forced JULY 30th to be even BETTER at our job! YOU ARE RIGHT for questioning this MARTHA, and correct, you are not a lender, but you are VERY CORRECT for thinking like one!

Lenders in turn have to start thinking like Realtors!

4. I am going into the CRYSTAL ball SALES FIELD!

5. Prepaids, interest, etc..ALL affect the APR on the TIL. MY GUESS< is that EVERYONE is going to complain about this new change too! So.....more than likely, they will start spelling out specifics as we get closer to the date! WORK VERY CLOSE with your LENDER partner over the next 6 weeks, and maybe even schedule someone to come IN TO YOUR OFFICE to discuss it with your entire TEAM!!! Understanding this will be VITAL moving forward!

I hope this helped! - Darin

Okay, this one is for Mark Cote!!

OMG- think like a lender???? Curses, curses. LOL. Thank goodness I do have a very good lender who keeps me filled in on lots of this kind of stuff. (As a matter of fact, she sent me a list of what affects the APR on a TIL but I received AFTER I commented). I am sure the closer we get to the drop dead date the clearer it will all become.

BTW- thanks for taking the time to answer with your thoughts and yes it did help.

JUN

2009

glad to see I am not alone with this problem. 8 hr days no wait 10 hr days 14 hours days are the norm.

Even with the long hours, it is hard to give the service that is expected from us.

Martha- I had a REALLY NICE typed out LONG response for you..and again...DAMMIT...my internet...(charter) went down! Dog gone...Suffice it to say..I am glad you have a go to gal...that keesp you UP on this stuff! Interestingly, I was contacted by two WELLS employees here in Wisconsin, that didnt know about the Changes yet...I emailed them the WELLS FARGO announcement! Argghh!

btw- YOU are very welcome! Thank you for sharing! I am happy to be talking with you! - D

Ron W- You are very right! Happy to oblige! Hope you get a chance to look at my two OPEN HOUSE blogs...that have alot of good information in ther for ya! I really enjoy working with KW agents...and you work for a very proggressive company!! Take care, and please visit often! My shingle is always out! - LOL.........Darin

JUN

2009

Darin - Since you are obviously a Badger fan, I thought you might be interested to know that I am a graduate of Overbrook Regional High School in Pine Hill, New Jersey. I got to see Ron Dayne tote the rock long before his Heisman Trophy days.

Karl- Thats totally cool! I still have a towel here too! Actually, not a huge Badger fan...but had my picture taken with Bucky when we had him come to our mtg booth for the day at one of the shows we were at!

Hope you enjoyed the blog as much as the pics! :) LOL- Thanks for sharing! - D

JUN

2009

I actually have a red #33 Badgers jersey hanging in my closet.

And yes, I loved the blog post (even though I am so sick of those "caveman" commercials) but felt the need to comment on the pic.

Just for you man!!! You know, alot of peopl are sick of the "CAVEMAN commercials"...I was hoping that the TITLE would get SOME response! Happily, it was a VERY high level of response! Thanks again! - Darin

JUN

2009

Great picture. Thanks.

I think you tapped into that part of people that makes us immediately look at something when we are told "Don't Look!"

Thanks Karl! Glad you enjoyed it!!

I try very hard to give people excellent content, and a smirk at the same time! It's hard as busy as we are right now...to take the time...but I think it is the people that DONT take the time to learn, that will be out of the business by the end of the year! That said, you can learn & LAUGH all at the same time!

Thanks again!~ Darin

JUL

2009

That was an entertaining post. Many people do not realize that we don't just push a button, and a an approved mortgage appears. While it may seem like we get paid hansomly to do loans, all the work behind the loan is not seen. Not to mention what it takes to get the loan. Now people are questioning the money that we make on the loan, and yield spreads are slowly disappearing. Realtors are not questioned on the 3-6%, but we are on our 1 - 1.5%. we just have to sit back and remember why we do it.

As loan originators we do more, take more blame, and put up with things that we shouldn't, wait... why do we do it again?

HI Joe, Well put!

You know, I have been working on a new blog here on AR about ALOT of what you are talking about.

Funny thing is that on another person's blog, I posed comments that contained examples of what a REaltor makes on a deal and what WE make on a deal. NOT ONE PERSON commented on ANY OF IT!......

I have been working on a blog for some time now that will deal with this issue and I am sure it will create some unwanted cotraversy...HOWEVER, I think we are too often maligned, and I was hoping this particular blog would create awareness in a non judgemental and attacking kinda way!

Thanks for sharing..I truly appreciate it!

D

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Darin Osenberg

Nashville, TN

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Funky Quail Vintage

Address: krovy@aol.com, Nashville, Tn, 37211

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