financing: The dreaded "Home Improvement Show"- Tips to make it work for YOU and your business! - 07/01/09 07:53 AM
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 … (10 comments)

financing: TARP, HARP, CARP & Kissing your Sister! - 06/30/09 02:42 PM

 The Troubled Asset Relief Program (TARP) is a program of the United States government to purchase assets and equity from financial institutions in order to strengthen its financial sector. It is the largest component of the government's measures in 2008 to address the subprime mortgage crisis.
 Did you know that TARP also stands for Tunnel and Reservoir Plan?  The official name of Chicago's Deep Tunnel.  This project  aims to reduce flooding in the metropolitan Chicago area, and to reduce the harmful effects of flushing raw sewage into Lake Michigan.
 Hmmm...sounds like they have alot in common!  One flushes cash, and one flushes … (8 comments)

financing: Mortgages: SO EASY A CAVEMAN can do them! - 06/17/09 03:41 AM
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 … (95 comments)

financing: 3 "Quickies" for Realtors! - You asked for education, here it is! - 06/08/09 04:16 PM
I have had 3 things come up lately that ARE LITTLE THINGS...that have turned into BIG I am sharing with everyone as a learning experience!  These are pitfall items that can cause you grief at the end of a transaction!  Let's deal with them up front shall we??
1.  Chattel- On the OTP

It is defined as follows:
Personal as opposed to real property; any tangible movable property (furniture or domestic animals or a car etc) or,
An item of tangible movable or immovable property except real estate and things (as buildings) connected with real property
 In other … (56 comments)

financing: Oh Great..More BS from the Guvt! HERA Mortgage Disclosure Improvement Act - 06/02/09 03:57 AM
I received an update yesterday from Wells Fargo, and as usual, they are getting in front of the change!  YEAH for them!  Here is what I received...PAY ATTENTION LOAN OFFICERS!

One more thing we can thank WALL ST for..

 However, are any of these REALLY bad ideas??Only one I SEE, is that NOW, and I am getting clarification, we will have to disclose TWICE??  Arghh... 
Oh and NICE APR suggestion!  People still dont even know what the APR is??  Now, we can really call the Truth in Lending disclosure, the Truth & Confusion form!
For all … (14 comments)

financing: The 2nd 12 OPEN HOUSE SUGGESTIONS! Let the debate continue.... - 06/01/09 11:11 AM
Do you make assumptions about OPEN HOUSES, because they have not worked in the past??  Well, DON'T DO IT!  Don'put the cart before the house, I mean horse!! LOL....Remember, this is from a "Lenders Perspective!"
I did a blog a couple of months ago, that was recently featured, and after such an overwhelmingly GREAT response...I thought I would GIVE AWAY 12 more ideas!
 I would be honored if you re-blogged me, and as always, whether you agree, or disagree, I would LOVE to hear your comments!
*DISCLAIMER*  These suggestions MAY NOT work for REO'S! 

LET THE DEBATE CONTINUE..........................

financing: A Development in Rural Development! USDA UPDATE!! Information IS EDUCATION! - 05/28/09 11:56 AM
Well, today I emailed my Account REP at JP Morgan Chase, to let him know that we are STILL ALIVE & WELL!   I asked him if there have been any changes I need to be aware of, or pitfalls..etc...regarding USDA LOANS, and the "as improved" product, ...and this was his response!   (see below)
My most EXCELLENT Partners!

"The biggest change on Chase's end is that we now pull a tri merge credit report and use that for the underwriting of the loan."
"You may want to begin using Equifax for your credit reports on GRH loans … (4 comments)

financing: 100% & The Basic Steps on getting approved for a Guaranteed USDA loan!....A great loan for Wisconsin! - 05/26/09 02:38 PM
No doubt, USDA loans are a great product!  Jason Sardi has blogged about them, I have blogged about them, and many others as well!  However, what you MAY NOT KNOW, is the BASIC steps involved when getting approved that will save consumers, Realtors, and even OTHER LENDERS who dont understand this process very well...ALOT of time!

1.  Take a COMPLETE application.
2.  Pull your OWN credit!
3.  IF credit score is above 620 you are golden!
(what that means is express documentation, Ill explain that further later)
4.  Fill out the Express Rural Development Approval Form
5.  Gather as … (22 comments)

financing: Do you have a Tiger in your Tank?? - 05/26/09 02:25 AM
They say a picture speaks a 1000 words, but seriously, how do your words paint the picture?

Since being on Active Rain, and commenting on MANY people's blogs, it has become increasingly disturbing to me the trend I am noticing!  That trend is the KNOW IT ALL vs. THE DEFENSIVE MECHANISM trend! 
 It has always been my understanding that blogging served several purposes, but none of them were related to the ongoing BATTLE I am seeing both on AR and other networks!
How did we reverse this trend you ask? Well, maybe we need to "tame" the Tiger … (25 comments)

financing: Screw the Mortgage Biz...I'm going to Mascot School! - 05/22/09 11:16 AM
Okay, sometimes we use Active Rain to vent!  Today, I am declaring, change of occupation day!
Click here to know more about actual Mascot School!
Let's see..hmmm...which Mascot would I like to be...?? Hmmm???


I would like to be the NATIONS #1 most familiar Mascot, but alas, you have to be a student at UW to be him...damn

He is cool tho!        Yeah Bucky!!!!!!!!



financing: USDA loans can be used to buy "fixer uppers"...Here are the best tips I know! - 05/22/09 05:50 AM
Hello everyone!  Everyone on AR,and in the Realestate Market...I am sure KNOWS that USDA loans (where applicable) are arguably the BEST PRODUCT OUT THERE!!!  However, did you know that you can purchase a home that needs some LOVE and FINANCE the improvements?  All with NO MORTGAGE INSURANCE AND AT 100% of the purchase price or value?
Now, let's be realistic...your listing, or the house you want to buy...cannot look like this!
 HOWEVER, A USDA "subject to" appraisal can be done on a home that needs a little less love!!!
Now, what is a "Subject to" appraisal you ask?
It is an appraisal done on a home, SUBJECT … (83 comments)

financing: Insurance agents, PLEASE get with the program!!!! - 05/21/09 12:48 PM
Often times, what inspires myself and clearly many others to post a BLOG is either an everyday occurrence, or in some cases an argument!  Today, that is what happened to me....a stubborn, stupid, argument, and of all people it was with an Insurance Agent!


Now, just to preface this blog...My father was an insurance agent for 30 years, and I grew up around it my whole life!  Many times, I even tell the story about how when the roof blew off the YMCA, my brother & I, even at a young age....helped … (11 comments)

financing: "Warning Will Robinson, Warning" - New 4506t Issue concerning Calyx Point! - 05/15/09 04:13 AM
WARNING for All Calyx Point Users!
Just 3 days ago, I had the new rules with the 4506T Request for Tax Transcripts affect my ability to close a loan as well as be efficient!  I am upset about it too!  I was on the phone with Calyx Point for about an HOUR trying to fix it, and right this minute it STILL is not fixed!
Now, I am not upset at Wells Fargo...In fact, I am one of the few probably that LOVES working with Wells Fargo.  HOWEVER the issue on … (7 comments)

financing: FREECREDITREPORT.COM...can you hear the MUSIC???? Think "My SHARONA"! - 05/06/09 02:55 PM
The following was one of the 1st blogs I have ever done!  I changed it up quite a bit, but left the content approximately the same!  Now that I have been in "the RAIN" for a while, I thought it was DEFINITELY worth re-doing and re-stating!  Plus, I added pictures!  :)
***NOTE*** I am looking for EVERYONE to comment, so please do not be shy!  That means you credit scoring & repair companies!  HOWEVER, we are looking for ADVICE not sales pitches!
Well, so far, I have been to over 18 hours worth of "credit repair" training, as … (44 comments)

financing: Mortgage Broker vs Mortgage Banker Vs Bank. "What you talking bout Willis?" - 05/05/09 08:48 AM
Recently, I have been noticing a LARGE number of blogs on AR and other sites, talking about TOPICS in the Mortgage Business, and it is clear to me that the general public, as well as Professionals within our industry, are not noticing the differences of perspective that these blogs are coming from!  Soooo....I am going to TRY and simplfy it for everyone!  I by the way, have been all three of them!


 Mortgage Broker
The "matchmaker" between a homebuyer and/or person refinancing their home, and a lender with the goal of originating a mortgage loan. The Broker draws … (2 comments)

financing: New ALERT from the IRS regarding the 4506T request for Tax Transcripts! - 05/01/09 09:57 AM
 Attention!  Mortgage Lenders, Realtors, & Consumers!  ONE MORE THING that COULD slow the loan process down!  Be afraid, be very afraid!
 What is a 4506T form you ask?  It has been around for YEARS, but thanks to the Countrywide Fast & Easy Loans, Stated Income Loans, No Documentation Loans, and all of this "fine mess you have gotten us in Ollie", these are now being actually executed on most every loan.
I just received a WARNING from of all people, my CREDIT BUREAU company regarding the IRS 4506T Request for Tax Transcripts form.
This form is used by most all … (11 comments)

financing: Garage Sales! A great place to get a deal on a loan too! - 04/28/09 01:23 PM
Today, I couldnt help myself!   In my hometown, we are having an area wide garage sale!  Arghhhh...traffic everywhere, and people looking for bargains..and not watching the road...blah blah blah!~ I ride my Mountain Bike to work everyday, as I only live 1 mile from the was especially disturbing to me that a used couch and it's price were more important than my health...but, that is another blog for another day! 

Well, every day on my way to work, I go by the SAME 3 houses that are listed for sale and notice that they all have the SAME 3 things … (6 comments)

financing: Pre-Qual, Pre-Approval, Approval, Loan Committment! What does it all mean??? - 04/21/09 04:57 AM

Pre-qualification letter:  This is merely a letter that the lender provides to the realtor when asked, to send on with the OTP, that shows the SELLER that the customer has made application, had credit pulled, and in the "eyes" of that particular lender, should not be a problem to get financed.  This letter is not much, but is MUCH better than someone who hasnt even applied yet!   MANY LOOPHOLES though.  Possibly, one addition here would be that the funder or lender has run DU, LP, DO, or something similar to obtain an electronic approval. 


financing: The typical lender "NEEDS" list! The basic items a lender will need to either pre-qualify, pre-approve, or APPROVE your loan! - 04/20/09 06:13 AM
I see all kinds of documentation in your future my friend!   Beware! 
Today, as a LENDER, our crystal ball has no idea what it is doing!  We rely on automated approvals to tell us exactly WHAT WE NEED from a customer, and even this isnt good enough, as an underwriter has complete discretion at ADDING ITEMS at any time!  This stinks, but is a direct result of bad lending practices in the past!!  However, there are quite a few basic items that you can tell your customer that they will need, in order to get pre-qualified, pre-approved or APPROVED … (18 comments)

financing: Spank me with ARCRONYMS! The ULTIMATE "add to it" guide to abbreviations for Rainers & Consumers! - 04/17/09 09:48 AM

This is going to be a group effort, and by the time we are done, we should ALL have quite the resource for our customers!  Cut & Paste, or save it to your desktop to email!

AGI - Adjusted Gross Income
AIREA - American Institute of Real Estate Appraisers
AKA - Also Known As
 ALTA - American Land Title Association
APR - Annual Percentage Rate
ANSI … (11 comments)


Darin Osenberg

Nashville, TN

More about me…

Funky Quail Vintage

Address:, Nashville, Tn, 37211

Blogging important and factual information, enabling the general public and Realestate professionals lto stay informed on market happenings!



RSS 2.0 Feed for this blog