Video Marketing and Mortgage News Designed for Mortgage and Real Estate Sales

brian tbws: (January 07, 2010 8:57pm)

i will not dress up for anyone!! Like anyone gives a crap! BUT you tbws'er are bad ass. You make this show.

Seriously?: (January 07, 2010 8:32pm)

you guys are great, suit or no suit.

brian tbws: (January 07, 2010 6:13pm)

... CONTINUE.... so in the spirit of what we all are. If I wouldnt wear a suit for you, I certainly will not wear one for Andy Cuomo.

brian tbws: (January 07, 2010 6:12pm)

Dear Decorum Police. First thanks for watching and participating. I know this show is only as good as the diverse opinions that are shared by and with our viewers. Often times our subjects are intended to provoke conversation and thought. Sometimes we succeed and other times we get filleted by our very keen and insightful tbws family. With regard to our flippant demeanor, I partially assume you guys get its "tongue and cheek" but mostly its who we are. I've never been someone comfortable misrepresenting myself as a choir-boy. However, I am for the most part a law biding citizen that ABSOLUTELY want to see the good folks in our industry succeed. My and our delivery is the only way I understand. That is to be truthful, cynical, and humble at the platform that has been given to me. From speaking with a bunch of you tbws'ers I know most could do it as good as me and some could do it better. Thanks for your insight, I truly take it to heart... continue.....

Frank Garay: (January 07, 2010 6:09pm)

decorum police - Thanks for your opinion man. Here's the deal. We are who we are and I encourage you to be who you are. I think that the majority of people who watch our show understand when we're having fun. And personally, if I can't have fun doing this show, then I'll stop. I also think that some, not a lot, but some of the people that watch our show take things too far. It always amazes Brian and I how far people will go to find a reason to be offended by us. Listen, we are looking for correspondents. These are people that can review products, editorialize stories, or even do their own show. So why don't you put a show together and get it to us. As long as it's decent, we can get you on our platform. Because truth be told, there will be people that like your show better than ours, and I think that's just great.

Frank Garay: (January 07, 2010 5:58pm)

**HIGHLYTE** I can't believe you've been with us that long! Chupa Cabre is here in my office. Man, that was a long time ago.... thanks for hanging with us so long!

KL in NH: (January 07, 2010 4:13pm)

Finding Solutions: Canada is to the north. France is to the east. Socialism can be found in both locations. Get real! Republicans & Limousine Liberals pay all the taxes in this country. 10% of the population (and many of Lenders, Realtors, and Appraisers on this blog) pay 50% of the taxes in this country. Also, in reading the constitution, I didn't see where it said we had to fund the rescue of foreign economies. Would you point that out for me?

HiDezertAppraisalGal: (January 07, 2010 4:08pm)

Spence...why is this girl doing an appraisal like that for $250 to begin with?

Highlyte: (January 07, 2010 2:38pm)

Sorry I was somewhere else when I was typing, that last message was to Frank

**HIGHLYTE**: (January 07, 2010 2:36pm)

Greg, have you ever thought of bringing out el chupa cabre back from Aug 07, I think his message still hold true.

findingsolutions: (January 07, 2010 1:40pm)

informed and intelligent, excuse me!! the last adminstration spent way more money than any previous ones. current administration is now forced to spend money to save the world economies and not just ours. like i've said before corporate welfare is the Repub's mantra, trickle down only works when your pissing on something/someone. please don't tell me you will give a "fair" share of taxes, that is bull. if that was true then why do Repub's think tax breaks are the answer to all that ill's the economy. our gov't nds tax monies to function properly for all not just the ones who can afford access to pols. the rich barely pay taxes as it is because of all the loop holes in the tax code. i know millionaires who paid less taxes than i do every year. i have never earned a 6 figure income in my life but have paid more taxes than my well off friends have for the past 10 yrs. Duh!!

SoCalMtgGal: (January 07, 2010 1:36pm)

I see the flood ins. advertising on TV, but they don't mention that if you're not in a flood zone you can't get flood ins. A minor detail.

mortexch: (January 07, 2010 12:58pm)

Something to think about regarding the FEMA flood maps is that due to new construction that has changed the land topo, there are a lot of new areas that are now subject to flooding, ie, the floods in and around Atlanta this fall. There were many homeowners that lost everything because they had not been able to obtain flood insurance due to not being in a FEMA designated area. I agree the pricing is high but it is like any insurance that when you need it, it is worth it.

brian tbws: (January 07, 2010 12:53pm)

So Cal. I believe Plaza and Met Life are still doing them. Spot's extended but going away. Good Luck

So Cal Broker: (January 07, 2010 12:47pm)

FHA SPOT CONDO APPROVALS!!! Does anyone know who is still doing spot FHA approvals on condos? Property is attached, only two units and there is no HOA. Very clean, pretty and upgraded property and conforming to the area. In So California.

Informed and intelligent: (January 07, 2010 12:42pm)

finding solutions: Most "Repub's" don't mind paying a "fair" share of taxes. We believe in community and supporting and paying for it. What we're sick of is the lefty's treating the govt coffers as an endless line of credit... Until you learn how to spend what I already give you, why should I give you even more? That's just a basic rule of good business sense. Duh.

Oregon CPA/Mortgage Guy: (January 07, 2010 12:27pm)

findingsolutions: It entertains me when people give Clinton credit for the prosperous times during his administration. Yes, Presidents set agendas, but the Congress controls spending and thus have a greater impact on the economy than the executive branch. You will remember that the Congress was dominated by Republicans during the Clinton years. That said, Congress morphed from a pro-business, anti-tax body to basically a special interest pandering den of thieves. This occurred in BOTH parties. The solution is to throw them all out. I agree with your thoughts that we need to be solution focused. Let's get back to our roots of self-reliance and minimalist government. Large corporations centralizing power and influence are not our friends either.

brian tbws: (January 07, 2010 12:01pm)

We're working on that right now. We should have it in the daily tomorrow. It appears, from one of our viewers, that H.R. 4173 will allow appraisals to be ordered by lenders if they're registered nationally with s.a.f.e. act and licensed by their state. We'll get this and more to you tomorrow.

jp broker: (January 07, 2010 11:50am)

can you guys give us an update on the hvcc where it stands and is fha hvcc going to be different - getting very concerned

findingsolutions: (January 07, 2010 11:48am)

Since the 1980 presidential election, Dem's have held the presidential office for 9 yrs. in the 8 yrs of Clinton our country prospered like never before. Obama has inherited the greatest economic mess every create by american bankers and wall street. if Repub's don't believe in gov't and don't believe that gov't should work for the disadvantage in this country then maybe they should consider leaving. they don't want to pay taxes so why should they be allowed to use the PUBLIC ROADS AND HIGHWAYS to transport themselves, their employees and their widgets to market, maybe they should find a gov't somewhere else in the world that will put up with their wants(greed) and desires for selfishness. China might fit your needs better. we are nation of people not Republicans or Democrats, but individuals that all have differents needs and desires. we need solutions that work to benifit all not just the wealthy. Repub's nd to offer more than NO and HELL NO for solutions.

BS NOT: (January 07, 2010 11:39am)

If they weaken the dollar, then they can buy us lock, stock and barrel. That is the idea.

Charles_Dailey: (January 07, 2010 11:07am)

They can't keep buying mortgage backed securities because that will weaken the dollar. Oil is flying up and the only weapon we have against it getting too bad is a stronger dollar. People were more pissed at the pump than they were at wall street when gas prices were 4-6 bucks a gallon.

Spence: (January 07, 2010 10:55am)

WVAppraiser: www.appraisersupport.com. Cool. Jennifer posted yesterday she did a waterfront appraisal for $250 that the AMC charged $1,200 for. I hope she reports them. AMC's are a criminal enterprise that has the full backing of the Federal Government, the Fed and the GSE's. Why isn't the Supreme Court doing more? Aren't they supposed to step in and restore law and order for everyone? You shouldn't need an appointment for them to do their job.

decorum police: (January 07, 2010 10:11am)

An adult moment: Our mortgage brokerage industry has very few voices. You have worked hard to put yourself in a position of influence. The persona you broadcast in many ways is perceived as the persona of the industry. Implying that drug use rests in your history is not a good message. Off-the-wall fun to flavor a bland topic is good. Portraying illegal activities is not. By the way, I'm the same guy who said you should have worn a suit when you visited the New York Governor's Office.

Modgirl: (January 07, 2010 9:55am)

Remember folks that Elevation Certificates must be done by a surveyor that is "accepted" by your flood insurance. Having several done in the same area will save money too so get with your fellows to negotiate otherwise they can charge as much as a full survey and negate the savings. Keep in mind too that Flood insurance will often cover water damage from wind driven rain which is not covered under most wind insurance.

MichaelG: (January 07, 2010 9:32am)

Feed the MBS monster...Move the economy forward ~ Interest Rates & Oil ~ Commodities = Inflation ~ Bad for recovery.

BrokeBroker: (January 07, 2010 9:21am)

Let's work on solutions instead! Build an ark and plant a tree. Flood problem solved, CO2 issue solved.

jp broker: (January 07, 2010 9:20am)

can you guys give us an update on the hvcc where it stands and is fha hvcc going to be different - getting very concerned

Snowing in Minneapolis.....: (January 07, 2010 9:18am)

We wanna vote on some of the sexy comtestants???

Oregon CPA/Mortgage Guy: (January 07, 2010 9:11am)

Is anyone surprised that the same government that brought you the simplified GFE (one to three pages), HVCC, the Post Office, Amtrack, Medicare and Social Security, is having trouble finalizing the documentation for filing the tax credit? The IRS will have the new Form 5405 completed by January 8, 2010 per their website. (They originally stated that the new revision would be completed in December.) The new form is required for purchase transactions on or after November 7, 2009. Since taxpayers can file for the tax credit by amending their 2008 tax returns through Form 1040X, the IRS has effectively delayed the receipt of tax credit monies by sixty days and counting for thousands of first-time home buyers. This is quite a delay for a form that only had SIX lines! I'm sure they will do much better on healthcare since healthcare is so much simplier than a six line tax form. I've had enough. Please join me in voting every incumbent out of office at every level of govenment.

CV Broker: (January 07, 2010 9:03am)

To help those who may fall into the FEMA map, I had to get this last year on our rental in Sacramento. The flood insurance premium is $348.00 through Seattle Specialty Insurance Services in Everett, WA - 800-597-1866 - $250,000 dwelling - it didn't break the bank. Real numbers for your clients...

Common Sense: (January 07, 2010 8:42am)

Sick and Fedup, Why don't you move to Cuba? they love Barack, have free health care, and I bet they have a booming mortgage industry, too.

Tobby: (January 07, 2010 8:39am)

Nothing new here. FEMAs map redraws have been an ongoing project for ten+ years. It was only becuase of chronic underfunding that it took this long. As long as your dwelling is at least one foot above the flood plain you won't need insurance. But if you are in a flood zone the insurance is cheap compared to the alternative.

Shut UP Utah & Mortgage Real Estate Guy: (January 07, 2010 8:39am)

Utah & Mortgage Real Estate Guy: Go get your own video show you dumbass! go marry a sheep or something down in Utah

GalvGuy: (January 07, 2010 8:34am)

Living and working in an Ike ravaged city, I agree that flood insurance rates are in many ways too high- most owners here didn't have any flood coverage due to its cost, and we're on a sandbar in the Gulf. That's not to say that the flood zones were absolutely inclusive of the areas which did flood without historic precendence. Maybe some of the redrawing reflects that. I know if my base elevation is no longer 11 ft, I will have a difficult time keeping my insurance and loans!

The cocktail party theory!: (January 07, 2010 8:34am)

The cocktail party theory! i learned this very early in my career. Most prospective homeowners have the financial acumen of a 8 year old and equate an interest rate with something they can brag about at their work party or networking event or family function. They have been used to the really good drug of 4.875% and now they are told rates are 5.25% ( like you said $38 more on a $200k home). They cant brag about that higher rate now but would rather pay rent and not own. I could seriously slap half my clients around the head for being so stupid!

Bigg in Colorado: (January 07, 2010 8:28am)

Park City Mortgage Guy: How does that Koolaid taste?

Shoerock: (January 07, 2010 8:24am)

Hey Guys...what happen to your "redneck" videos?? I look forward to those every morning and havent seen one in a few days. Help a man out with a good laugh in the morning.

Jersey Girl: (January 07, 2010 8:17am)

I saw someone on yesterday's blog looking for clarifictaion on this. Hopefully you got what you needed already, but if not, I copied and pasted... FHA Delays Appraisal Independence Implementation 45 Days. The Federal Housing Administration announced that it will delay until Feb. 15 the enactment of Mortgagee Letter 2009-28 and 2009-51 addressing appraiser independence and adoption of the appraisal update and/or completion report, respectively. Originally planned for a Jan. 1 implementation, the 2009-28 guidance has two parts: the prohibition of mortgage brokers and commission-based lender staff from the appraisal process, and appraiser selection in FHA Connection. FHA Mortgagee Letters can be read online at www.hud.gov/offices/adm/hudclips/letters/mortgagee/

Lender / Realtor: (January 07, 2010 8:12am)

Never mind. I mis-spoke. I see the article in Links and Docs

TheFyouSay: (January 07, 2010 8:12am)

The GFE '10 does not have a place for a signature but the service provider page does.. go figure

Lender / Realtor: (January 07, 2010 8:10am)

Frank & Brian, your information is great that you provide to us working in this industry. Do me a favor though, when you present an article like the Reuters article that you referenced in 2:17 - 2:35, can you provide a link to that article as well. Maybe something like this: "A Federal Reserve program to buy $1.25 trillion of mortgage-backed securities that had helped keep 30-year mortgage rates near record lows is scheduled to end in March. Citing Fed officials, Market News reported the U.S. central bank was discussing re-entering the MBS market later this year if its buying power was needed to hold down interest rates." www.reuters.com/article/idUSTRE5B92XZ20100107 Thanks

Utah Mortgage Guy: (January 07, 2010 8:07am)

So yesterday I updated to the new 7.2 for Point and guess what... the GFE 2010 DOESN'T get signed by the borrower. I have had two lenders NOT accept files because the GFE2010 was signed!!!! CRAZY! Point is releasings a Service Pack to remove the signature line on the new GFE. Wow...

OhioRealtor: (January 07, 2010 7:57am)

Mortgage & Real Estate Guy - My client wanted to go back and ammend his 2008 return like the law allows. No big deal if he wanted to do it in 2009 but since he wanted to get the money back earlier and not want until he is ready to file 2009 now it would take him another 4 months (he won't be ready to file 2009 until mid Feb)

GODLIKE: (January 07, 2010 7:39am)

PARK CITY MORTGAGE GUY If you believe there is man made global warning to the degree that the media is sensationalizing then I guess you believe there is a need for all the mortgage CHANGE we've had this year and all the CHANGE that is still coming? I remember studying about climate cycles in grade schools a million years ago and they were talking about the warming/cooling cycles then. I was happy that we were in a warming trend cause I like the beach much more than the mountains.

sickupandfed: (January 07, 2010 7:39am)

jk...it's not about eliminating the use of fossil fuels entirely. it's about reducing the amount of use. don't be so thickheaded.

James the Appraiser: (January 07, 2010 7:35am)

FLOOD - HA HA, I did a report and shown the subject (the full subject sub-division) was located in the Flood Zone. The Builder cried and said NO, not a Flood Zone. He shows me a revised FEMA Map that shows the Old Flood Zone and the New Flood Zone. The sub-division was now out of the Flood Zone. So I took the revision info and went to FEMA's website to read the full report, change. If shows the new map, and the data is the interesting part. It shows the water level 1 foot higher in the subject area that when it was a Flood Zone. So explain to me how the water gets deeper and the house is no longer in the Flood Zone. The Builder and City did a lot of work to get the Flood Zone changed, what a croc.

EchoDances: (January 07, 2010 7:33am)

Is there anyplace we can see a list of the 150 cities which have had their flood maps adjusted??

Jk: (January 07, 2010 7:21am)

There is a certain amount of Americans that just don't get the fact that half of the scienctist out there are paid to get a certain result. Most of the Global warning is caused by natural recources of our planet. Think of the money that is being made on this Global Warming Scam! Oh yea lets see you run trains and 18 wheelers with solar/windmill power? Then look around you green house and list the things that did hitch a ride on a train or truck (start with your frig). Getting hungry yet? I can't wait until there is proof that the temps are going back the other way (cooling). It will happen in our life time and Al Gore will regain his legacey as a FOOL!!! Have a good day while I go warm up my SUV in this 20 degree weather!!! LOL LOL LOl

Utah & Mortgage Real Estate Guy: (January 07, 2010 7:18am)

Sickupandfed: I don't want to argue about whether Sarah Palin was qualified to be Vice President. I would like to discuss what the qualifications are to become vice president. Are there any? If you are going to make an arguement like that you are going to have to back it up somehow. What are the qualifications? I don't believe there are any. So technically, you qualify, what would disqualify Sarah Palin.

GODLIKE: (January 07, 2010 7:17am)

FYI I have no banner on the right (at the top). I haven't had one for days and days. Instead I have a big boring, empty gray box. Mac running Firefox 3.5.6

Utah & Mortgage Real Estate Guy: (January 07, 2010 7:12am)

Since I am trying to help others out today. Frank & Brian. A .375% on a mortgage is not just $38 dollars difference. Where did you pull that number from. A $250,000 purchase with 20% down payment leaves a loan of $200000. If rates moved from 4.625% to 5.00%: the payment difference is $45.64 on a 30 year amortized loan. If the loan amount is at $250K the difference is even higher, where does the $38 figure come from. If the Mortgage Industry is expected to be taken seriously, at least show the public that we can do some correct math.

GODLIKE: (January 07, 2010 7:12am)

Surely that's not a $250,000 house is it? Where? Well, wherever it is I don't want to live there. Looks like about $80,000 to me.

sickupandfed: (January 07, 2010 7:05am)

frankly, it's getting more and more embarassing being associated with this industry. talk about lemmings..... you guys just keep on believin' the hannitys and limbaughs but i warn you...you'll get what you deserve. i suppose you all think sarah freakin' palin would have been a qualified vice president too.

Rob in AZ: (January 07, 2010 7:03am)

I had a client who got caught in the time-trap Ohio Realtor describes. He advised me the new form is available now, as of yesterday. The issue wasn't the '08 vs '09 tax returns: it was the changed rules signed into law in November. If you recall they were "effective immediately"--since laws change right up until and including the time the President signs them (he even can change them at the table) it makes sense IRS would not yet have the new form prepared. Cheers

WV Appraiser: (January 07, 2010 6:59am)

There is a website www. appraiser support.com. It is created to expose the fees AMCs recieve in comparaison to what they pay appraisers. If you have any information to share, please send them to tim@valleycreek appraisal.com and I will load them on the map. We need to expose this rediculousness.

Frank Garay: (January 07, 2010 6:56am)

86.437% of all statistics are made up on the spot.

Common Sense: (January 07, 2010 6:50am)

Park City, No where near 98.6% of scientists are in agreement about whether climate change is man made. There is clear evidence that the climate has always cycled through warmer and cooler periods with and without man. There is a letter you can find on the internet signed by over 30,000 scientists stating that the facts are not all conclusive and asking the government to not act too quickly based on science that is clearly politically motivated. You also might Google "Climategate". Many of the same scientists who are saying that the Earth is entering a catastrophic warming period were warning of the next ice age in the seventies and calling for the same sorts of drastic anti-capitalist measures then. I don't meant he similar scientists, I mean the SAME scientists. Green is the new red.

Utah Mortgage & Real Estate guy: (January 07, 2010 6:47am)

Park City Mortgage Guy (almost ashamed that you live in the same area as myself): I was going to say a couple of mean things but 'ed k' beat me to them. No wonder the Mortgage Industry in UTAH has such a bad rap. Mortgage guys just quote whatever percentage they want and expect people to believe them. A quoted percentage of scientists only shows that you lack the knowledge of the subject matter and you are trying to use a false (or made up) percentage number as your main argument piece. If you have better statistics or realiable ones, then you can have another chance at the argument.

JB: (January 07, 2010 6:47am)

I understand that in order to claim the tax credit you can not file electronically. Heard that from a friend at HR Block

Mortgage & Real Estate Guy: (January 07, 2010 6:41am)

Ohio Realtor: The IRS form needed for the tax credit doesn't even need to exist until 01/15/2010. This is the first offical date that US citizens can file their 2009 income tax returns. Realistically, the form doesn't need to exist. There are plenty of places to put the TAX credit with current IRS forms. Talk to a Tax professional, it doesn't matter if forms are available or not.

ed k: (January 07, 2010 6:39am)

Hey Park City Mortgage Meat head. Yes, scientific studies show the earth has gotten 1 degree warmer within the past 200 years. The argument isn't about warming, it's about "man causing warming." BTW...The U.S. is the most modernized country in the world, however 97% of the US is unpopulated. Ever fly in a plane? Al Gore is making billions with his carbon footprint company so he can fly in private jets. Pull your head out of your butt and wake up, fool

Frank Garay: (January 07, 2010 6:39am)

All links are there and work fine. You have to scroll up and down in the links and doc's box to see them.

We'll See: (January 07, 2010 6:37am)

Park City - when you're on your death bed wondering what is going to happen, i trust you'll find comfort reading your science book.

brian tbws: (January 07, 2010 6:35am)

Thanks D we'll get the fema link. Ohio Realtor, thats the first ive heard of the tax credit issue. can you hit discuss and send your number to me. I'd like to talk to you about that.

Mrsanfran: (January 07, 2010 6:30am)

Cap and trade is a scam, a way for Goldman Sachs to game the system again. Global warming is not a scam. The same people that voted for George Bush are mostly the same people argruing against Global warming. How did that Bush guy turn out for us? LOL Get real.

Park City Mortgage Guy: (January 07, 2010 6:20am)

Yes - that's it. 98.6% of the world's top PhD scientists that have studied the climate patterns of the planet full time as their careers from virtually every country are all in big conspiracy with Al Gore to con us all! But the flippin TV weather man in San Diego with an undergraduate degree in Journalism doesn't believe it, so let's go with his opinion! C'mon guys, even your heroes George Bush and Newt finally have acknowledged the reality in the face of overwhelming scientific evidence. Some folks also "believe" the planet was created 6,000 years ago, which is their right to believe - just not TRUE or scientifically supportable. It is everyones right to believe what they want, but you are just plain wrong if you don't believe in science!

Nuke 'em 'til they Glow: (January 07, 2010 6:00am)

People are like Lemmings/Sheep. It's up to us and our partners to educate them plain and simple.

OhioRealtor: (January 07, 2010 5:47am)

Did you guy's know that anyone purchasing a home after 11/6/09 is having a small problem getting the tax credit. They must use a new form that currently does not exist. Imagine that! The IRS says that it will now have the form by 1/8/10. I guess they can't figure out what to do with the HUD-1. Also, your clients won't be able to electronically file. Anyone else seeing the same problem for their clients?

Sharon : (January 07, 2010 5:43am)

BC I love it and agree with you!

BC: (January 07, 2010 5:22am)

Many people running our government would qualify for disability benefits. In fact, I think Al Gore qualifies. You have to be mentally disabled to believe in Cap and Trade and this global warming crap.

RodenAlley: (January 07, 2010 3:24am)

To the right under links & docs click the down arrow. Then you will scroll down to the FEMA banner then click to link to FEMA. It worked for me. Hope this helps.

D: (January 07, 2010 3:06am)

Hi guys, just a heads up... you don't have a link for fema below. Thanks for providing all of the great info in the entertaining format. It actually keeps me interested in listening.