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FREECREDITREPORT.COM...can you hear the MUSIC???? Think "My SHARONA"!

Mortgage and Lending with Funky Quail Vintage

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 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 commonly asked for advice on this very topic, and until now, we were just using common sense as it applied to their credit bureau.  For example, if a person was over their limit on a credit card, we would instruct them to pay it down below the limit.  Obviously, this is very basic advice. Nonetheless, we could only GUESS at how it would affect their score  Currently, the liberal news media, as well as the very catchy songs on TV from www.Freecreditreport.com are NOT helping!!!  

 There is a HUGE difference between a CONSUMER CREDIT REPORT and a MORTGAGE or LOAN CREDIT REPORT!  While I do realize that there is a purpose to the well advertised website, it doesnt really accomplish anything as it pertains to getting a mortgage, whether you are a first time homebuyer, move up buyer, or investor!  It does give you a place to start though, yet can be quite different from a mortgage report!  Recently, I had a borrower that had incorrect residency information on his credit bureau.  Believe it or not, this IS becoming an issue that we as lenders have to deal with, upon approval of a loan.  In other words, we have to have the borrower send us a letter of explanation regarding the multiple addresses in the credit file, or ones that dont match!  This can be a hassle, and in some cases, can actually create DOUBT that the customer resides there!  Back to my example:  My borrower owns 3 rental properties.  He lived in one property for some time.  He wasnt always getting his mail at his home, because the tenant next door was accidently getting his, and throwing it away, as opposed to just handing it to him!  Hence, he started having all of his business mail, sent to his parents home.  What this did, was create an address seperate form any of the ones he owned.  Our company attempted to handle a refinance of the property he was actually living in.  The goal was to combine all three mortgages on the property into one.  However, due to the address errors on the credit bureau, the FUNDER, did not believe he lived there! We tried letters, power bills, everything, but they THOUGHT that he was simply trying to refinance a rental property, at a OWNER OCCUPIED interest rate!  You see, rental property rates can be much higher rates than you get when you finance a home that you actually live in!   Our FUNDER  suggested that we get his credit bureau updated so that it reflected his address correctly! 


We were instructed to go to www.annualcreditreport.com.  What you do when you get there is pull your credit for each company.  You create a username & password, then you are issued a PIN#.  In addition, you get an actual PHONE NUMBER to call, and speak to a human being!  However, they will not correct anything, or even talk with you, UNLESS YOU HAVE THE PIN#.  Once you get this corrected, it corrects the mistake at the BUREAU level, and not just on the mortgage companies or banks credit bureau! 

 HUGE DIFFERENCE HERE!  You see, most banks, credit unions, and mortgage companies have their own credit bureau company they order through!  All of them have some type of "speedy" credit repair program that you are charged an extra fee for!  In some cases, this can get QUITE pricey!  So, if you are going to have your lender HELP YOU get credit repairs done, make SURE you ask them how much it will cost! 

You can do almost ALL OF THIS ON YOUR OWN!  However, you have to be patient, you have to have the time, and you have to be dilligent! 


 There are also other options such as credit repair companies.  There are tons of these types of companies that have popped up all over the planet!  Personally, I believe most of them GOUGE you and make phony promises!  However, recently I have connected with one that isnt too bad cost wise, and has some quality people working for them!  Their name is Credit Coach.  They have COACHES that work with you, and help you stay on top of changes each and every month!  Their website address is:  www.creditcoachwi.com  They send email alerts and other KOOOOL things too!  :)  You need to "Weigh" the difference and cost between doing it yourself, and have a professional helping you!

 Email is:  csawyer@creditcoachwisconsin.com


 Anyway, I would not go through Free Credit Report, unless you have just never seen your credit bureau before!  Go to Annual Credit Report at start there!  Or, for more answers, webinars, examples, scenarios, you can also try www.myfico.com

OH, and if you want to get their stupid song/jingle out of your head ( and yes you can click on the YOUTUBE logo), start thinking about

MY SHARONA!  This song makes you forget EVERYTHING!  Including the groceries!

 Proudly serving the entire State of Wisconsin since 2003!

UPDATE #1  5-7-09  From Jeff Belonger

"Don't forget to add in you blog about freecreditreport.com that it says at the very end of the commercial and in small letters at the bottom of the screen, that you must be enrolled in their special program to receive the fre credit report."

 Great point Jeff...Thanks!

UPDATE #2 5-11-09

I received this from a customer today!  "Darin - just got this - interesting that it's $14.95 per month after the free 7 day trial. . .they state it in reverse typeface, which is very difficult to read on a computer (and really bad on newsprint, too).  I thought it was interesting that they have a disclaimer telling people they are entitled to a free credit report from each bureau annually. . . .I can't figure out what this service would do for me that getting my free report doesn't do!  MB

WOW...unbelieveable!  Huh??  Thanks MB!

Good luck!  Darin@ One Source Mortgage,LLC    Darin@osmwi.com   or visit my profile at


Other Great Blogs to check out!

Open House Tips

Mortgage Terms

What does Pre-approval mean?

Jason Sardi
Auto & Home & Life Insurance throughout North Carolina - Charlotte, NC
Your Agent for Life

Darin - Maybe it is just me, but I wish that credit reporting was more local.  It would be more expensive, I'm sure... but I think it would help fix a system that is seriously flawed, to say the least.  As far as "free", I like Mark Watterson's comment above.  Amazingly, many folks do make a wonderful living selling FREE.  Quite odd, but FREE has this strange appeal if you don't know what you are getting into.

May 07, 2009 01:48 AM
Darin Osenberg
Funky Quail Vintage - Nashville, TN

Mr. Bettag -  You know, Jingles, which is what that is....have worked for years!  It is all part of branding!  HOwever, Tom Burris and othera are correct...Annualcreditreport.com...is the real deal! AND, they treated my customer & I fabulous!  Thanks for commenting!

Dorie-  Im glad you enjoyed it!  The post I did last night...is going to be a contest in a way about pre approval letters! Hope you comment on it too!  Great one for Realtors today!

Jo-  That's why we are a "drive thu" society, and fast food is SOO popular!  America is ALL about instant gratification!  Now, we have to see how AMericans become patient!  Think it will happen??  LOL
Thanks for commenting

Jason - THANKs for commenting!  I notice your comments all over the board,and you always have so many good things to say to people and you take the time to post & comment!  Thanks!  My SHARONA does work!  Just start going...dunda dunda dundt  dadda dundt...:)

 Thanks all!

Darin...aka:  Bucky! 

May 07, 2009 02:33 AM
Darin Osenberg
Funky Quail Vintage - Nashville, TN

Christine-  Like Larry B, it is nice to hear from people with a LEGAL background as well as Realestate!  It is ALWAYS interesting to me, WHY the legal system hasnt gone after people that innappropriately give people advice on Credit Repair, & LOAN modification!  That concerns me considering the VOLUME of changes we have been forced to deal with both as Lenders and Realtors!!  Thanks for stopping by!

Roland -  Ths aad part is, that they DONT talk about the cost.....they just accenuate the word FREE and get away with it!  Agggh...Truth in advertising right??

Thank you so much for commenting!


May 07, 2009 02:44 AM
David Orsini
Top of Mind Networks - Atlanta, GA
{Real Estate and Mortgage CRM}

"Currently, the liberal news media, as well as the very catchy songs on TV from www.Freecreditreport.com are NOT helping!!! "


I really hate that song...

May 07, 2009 02:46 AM
Darin Osenberg
Funky Quail Vintage - Nashville, TN

Jeff B -  Thanks for the suggestion!  I added an UPDATE from JEFF BELONGER at the bottom of the blog!  My whole point wasn't really to target that company...moreover, to make the decision whether REALTOR or LENDER on WHO to work with, and what to do with a customer with issues on their report!  You are right...as there are SOO many more tips I COULD GIVE, or other people too..>I am just not sure at WHAT POINT we ACTUALLY become QUALIFIED to give out this advice!  I have 18 actual HOURS IN but am not certified as a credit counselor!  Nor, actually, DO I WANT TO BE!  I want the people in my referral network to do their job, and help ME become better at mine!  Thanks so much for commenting!

May 07, 2009 02:49 AM
Darin Osenberg
Funky Quail Vintage - Nashville, TN

Kate-  Your right~!  You really hit it on the head...IF IF IF>>they have time, want to make time, and actually have SOMEWHAT of a working knowledge of credit.  My issue here is that even with our companies clients, whom alot are HIGH END credit scores...they truly dont know the 1st thing about credit!  EDUCATION is big!  That is one reason why THESE BLOGS work so well...and comments from people like you help so very much!  Thanks!

Bruce & Mary -  The customer in my example actually was able to increase his score only 13 points through the whole process...It didnt take very long..but was a severe disappointment.  Moreover today, the big things affecting us in the LENDING FIELD include aka's..(also known as), address imperfections, inquiries, and social security #'s being off one digit!  We get ALERTS that we have to deal with!  none of these really affect their score, but do cause LENDING issues!  Annualcreditreport definitely helped my customer & our loan with these!    Thanks so much for reading & commenting!


May 07, 2009 02:54 AM
Darin Osenberg
Funky Quail Vintage - Nashville, TN

Margaret-  I am glad you enjoyed the post!  You know, I have bookmarked some now too, and LOVE going back to them when I have time...Just dont know when that is??  LOLOL   I have always thought that examples were good, and when I came across another yesterday, I put it in my POST for today!
Thanks for enjoying it and commenting!

Melissa - Yep, your right...I probably should have mentioned that..and it was brought to my attention by Jeff Belonger, so I added a little update to the blog!  Thanks for commenting!  It is appreciated!

Joan - I love it when long time RAINERS comment!  Thank you!  There is so much MORE I wanted to put in there...but geez..how much can people really digest at one time??  Overall point was to have professionals do the work, much like PROFESSIONAL lenders & Realtors!  Thank you so much!


May 07, 2009 03:05 AM
Darin Osenberg
Funky Quail Vintage - Nashville, TN

Sally & David -  You guys are hilarious!  I actually commented on TRULIA the other day about one of YOUR comments to a customer!  Didnt know if you saw that!  Thanks so much for stopping by, and I hope you actually have moment to read this!  JK!!!   Take care!  Darin

Mark- My Dad is probably the SMARTEST GUY i know...and even HE fell for the word "FREE" when it came to the VIDEO PROFESSOR SCAM!  Have you seen that one??  Arggh...took him 24 phone calls, and about 11 emails to get them to finally accept a RETURN of the product!  VERY BAD!  Moral of the story....people are getting smarter, but it took us a long time to create the wheel, so dont expect it over night!  :)  Thanks!

Joe Pryor - You are funny!  I am googling it as we speak!  Man, just the name TING TINGS is a blog in itself!  Thanks for playing! 




May 07, 2009 03:17 AM
Darin Osenberg
Funky Quail Vintage - Nashville, TN

Mr.  Sardi -  I left a comment on YOUR blog yesterday in the middle of a THUNDERSTORM, and it deleted EVERYTHING funny I had to say...so today, I think i am out of funny!   I do have a great NEW qoute for you tho... guess the movie...

"Mr. Musgrave, please do not interrupt me when I am asking rhetorical questions"

When I started in this business, oh and by the way, the day I started was the day of the first CUBS night game!  (is that an oxymoron)??  ANyway, we DID have local credit reporting!  I lived in Peoria Illinois and I knew people that worked there!  I believe Cedar Rapids IOWA was the HUB for Equifax at one time too...Anyway, that lead to OTHER PROBLEMS!  We had a car salesman in PEORIA ILLINOIS that went to JAIL, because he sold an unusually LARGE AMOUNT of cars...WHy?? because his wife worked at the credit bureau...she would go in...fix and delete peoples' credit so when the bank made THEIR pull it was clean or empty!  nice huh?? Not sure if there really is an answer...but there definitely have to be a better mousetrap!  Thanks for stopping!


May 07, 2009 03:22 AM
Darin Osenberg
Funky Quail Vintage - Nashville, TN

DAVID-  THANK YOU for the YOU TUBE link...I didnt think to put it in there...I did add it to the BLOG though, so I appreciate it!  Thanks for commenting! 

May 07, 2009 03:25 AM
Linda Pitts
Merck Team Realty, Inc - Brandon, MS

I had a prospective tenant bring me a copy of her report last year from freecreditreport.com and her score was actually more than 100 points higher on that report than it was when a mortgage company ran their credit.  I guess checking it out is a great way to waste some time on the internet!

May 07, 2009 03:52 AM
Jason Sardi
Auto & Home & Life Insurance throughout North Carolina - Charlotte, NC
Your Agent for Life

Darin - I have no clue what movie that is from.  Enlighten me, my friend.

May 07, 2009 04:18 AM
Lisa Udy
Platinum Real Estate Group - Logan, UT
Logan Utah Realtor

Hey Darin!

LOL, MY SHARONA!! I am going to have this stuck in my head now all day!! >.< The information you provided was stellar though, I printed it out. I will be using it with my clients, thank you! :)


May 07, 2009 04:22 AM
Darin Osenberg
Funky Quail Vintage - Nashville, TN

Linda -  YOU ARE RIGHT!  Many times CONSUMERS dont realize that there is a CONSUMER CREDIT REPORT & NOT JUST a mortgage or credit credit report!  ( i know redundant)..isn't my spelling awesome!  :)   Anyway, we are seeing other distubring trends now too with credit...and they involve C CARDS!  Say you have a balance on a credit card of $1000.00, and the high credit amount is $2000.00.  You are at 50%!  You are ALL GOOD!  HOWEVER< say, your credit card company (for whatever reason) decides to DROP your credit limit to 1500.  NOW, you are at 75% , and your credit score takes a BIG HIT! OUCH and you didnt nothing to deserve it!  To the best of my knowledge, c cards remain about 35% of your credit score! Also, did you know a Mortgage is given equal billing to a car loan in terms of credit quality & score?  THAT IS SAD!!!  There is SOO MUCH MORE I wanted to add..really....I would advise EVERYONE to use that OTHER website I mentioned!  They treated me very well!  Oh, and the Credit Coach company I mentioned is a great place to start for repair!  However, I am not sure which states they are licensed in...sorry!!  I use them here in Wisconsin!   THANK YOU for commenting!

Jason-  The movie is Mission Impossible III....Laurence Fishbourne says it ....

Lisa - Thank you SO MUCH for the kind words! Now, I am going to have to come up with a song that will get MY SHARONA out of eveyrones' head!  I know Joe Pryor came up with one in the comments..>I am still waiting to google it, so maybe ill add it in a REBLOG!  :)  Thanks again!


May 07, 2009 04:36 AM
Rebecca Gaujot, Realtor®
Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

A great repost.  Good information to remember...bookmarked.  Cong-rats on your feature.

May 07, 2009 05:42 AM
Darin Osenberg
Funky Quail Vintage - Nashville, TN

Rebecca - Thank you!  You know, honestly...I debated the whole "re-post thing...but by the TIME i got DONE with this one..it was almost brand new!  :)   Repetition IS the mother of learning is it not??  Thanks so much!!! :)


May 07, 2009 05:46 AM
Alice & Jim -- Team Hayes Realtors
Loveless Realty - Libby, MT
Double the Service - Double the Care!

Thanks for the great post. I too remember when you could go to your local credit bureau and fix your credit problems.

May 07, 2009 06:30 AM
Darin Osenberg
Funky Quail Vintage - Nashville, TN

Alice & Jim -  Thanks for leaving a comment, and I am glad you enjoyed the POST!  It amazes me how UN USER FRIENDLY our country is...but we talk about computers BEING USER FRIENDLY..Huh?? Dont you think the two could finally GET IT TOGETHER!  ???  It shouldnt be THAT HARD, considering credit bureaus and their reporting are now ALL comptuerized!  I remember when the banks used to physically send in a Tape!!!

Thanks again!   Darin

May 07, 2009 07:57 AM
Mortgage - Puyallup, WA

I spent countless hours the first few years in the biz working one-on-one with credit-challenged borrowers, helping them increase credit scores, and then HOPING they'd do the loan with me.  I had good success, but simply couldn't help enough people one at a time to make it in the industry.  I could have charged higher loan fees to make up for the extra work, but I didn't.

What I finally decided to do was create resource materials to show people how to fix things themselves.  This is not the "you don't qualify, come back when you do" routine.  I created materials that I'd mail or email to them once a week, and put together a website www.credittothewise.com that I would refer them to.

Surprisingly, I got even better results with this approach than I did with the "I'll do everything for you" approach - and the systems helped me help more people at a time.  Seems folks really can do things for themselves IF you give them some guidance, direction, and encouragement.

May 07, 2009 09:03 AM
Darin Osenberg
Funky Quail Vintage - Nashville, TN

Hi there Glenn,

Thanks for the comments! The BIG THING IS, that ONCE they leave your office, THEY have to do it!  Our problem in the industry is that we cannot HELP, ENCOURAGE etc...once they walk out the door!  Emails, letters, and directions to websites are what we CAN do!  All your ideas are great!  We just now have to convince AMERICA they have to take ACTION!

Thanks again!


May 07, 2009 09:24 AM