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Mallrat: (January 19, 2010 3:59pm)

How did Brian get Silent Bob to stand against the wall with him rate women? Awesome!

CornerstoneKathy: (January 18, 2010 2:58pm)

briantbws..I knew you couldnt take a day off of work!

brian tbws: (January 18, 2010 10:39am)

wow. thats scary... and not gfe 2010 compliant.

Rotgirl: (January 18, 2010 7:56am)

I just got a pre-qual letter on one of my REOs from a buyer using Met-Life. Interesting thing was that it did not specify if the loan was FHA, VA or Conventional. Just gave a rate and said buyer was pre-qualified and loan type would be decided later.....?????

Frank Garay: (January 16, 2010 4:54pm)

n.o.lender - Hope you weren't in the dog house! Heck you'll make a few deals you wouldn't have if you hadn't gone to MRev, so just buy here something nice! Thanks so much!

n.o.lender: (January 16, 2010 11:25am)

Hey Brian and Frank, it was great meeting you guys in Atlanta. I drove 9 hours for the event and missed my wifes birthday. It was worth it. I send your stuff to everyone. Thanks for making our market easier to stomach.

NorCalMortgage: (January 16, 2010 9:49am)

u3ffvGilbert is spot on. AVOID METLIFE, they take forever, will tank a loan at the last minute leaving a PO'd client and you to scramble to place the loan elsewhere. Extreme bad news from my experience.

brian tbws: (January 15, 2010 8:03pm)

its not to late for your tbwssexyfest@gmail.com entree.

Valuequestor: (January 15, 2010 5:34pm)

Its Attorneys General. Pluralize the attorneys (noun)...General is the desciption... And yes, they put the blame where it belongs. If only they would join together and fix the errors made by one of their own.

brian tbws: (January 15, 2010 2:44pm)

thanks a bunch grmortgageman. yeah we've got a great staff. ok they're hot but more importantly they're good sports for putting up with us and they're unbelievably efficient hard working pros.

grmortgageman: (January 15, 2010 2:14pm)

Great video again guys. Keep up the good work. Loved the song and the ladies. Always look forward to your daily.

Metlife can go die: (January 15, 2010 2:07pm)

F^^% Metlife, they cancelled my broker agreement because i did not send them a loan in a quarter. Someday these too big to fail assholes will regret kicking out the small broker mum and pop shops who only can only serve out so much business. All of us together equal a huge amount of business and they will come begging soon. I hope that all of Metlife gets stranded on an island with Barney Frank and his friends from the Blue Oyster club and a bunch of gerbils

Realist 1: (January 15, 2010 2:06pm)

5Pence - right on! It's really a sham. What we have here is legalized organized crime of banksters and corrupt politicians and corrupt regulators. To top it off, the people who caused the crisis have Above the Law Protection's built in. The country has been sold out and it's having the blood sucked out of it by these greedy SOB'S. It's like a parasite sucking the blood out of the host who is largely unaware of what's going on.

Realist 1: (January 15, 2010 2:06pm)

5Pence - right on! It's really a sham. What we have here is legalized organized crime of banksters and corrupt politicians and corrupt regulators. To top it off, the people who caused the crisis have Above the Law Protection's built in. The country has been sold out and it's having the blood sucked out of it by these greedy SOB'S. It's like a parasite sucking the blood out of the host who is largely unaware of what's going on.

SoCalMtgGal: (January 15, 2010 1:45pm)

Change of subject: I spoke with the CA DRE yesterday re: the SAFE Act,etc. We will be moving to Indiana to be near grandkids (yeah!). She said it's NOT a national license, just a national registry. I can have an Indiana and a Calif. endorsement (license) on my registry and must also keep my CA DRE license (we need to service priv.$ loans for CA investors). My other ? was re: the Nat'l reg. running credit. Told her so many in this bus. have lost homes, BK, etc. She said still working on particulars but they WILL be looking for F/C, BK, liens, fraud judgments, etc. Not sure if F/C & BK will be a turn down for registry/lic., still working on it. Just another way to run brokers out of business. I'll be surprised if our credit passes muster. Maybe I'll turn servicing over to someone else and just babysit grandkids! After 21 yrs., I'm so tired of this! Best of luck to all of you.

5pence: (January 15, 2010 1:27pm)

I wish you guys had watched C-Span yeterday when they had the Attorney Generals from the largest states testifying. They laid the blame right on the banks where it belongs. Something interesting also was them saying the Federal Reserve had established a national charter around 2004 that regional banks could join to escape state regulation and investigations. The states AG's said they knew what was going on right when it first started happening but could do nothing about it because of the Federal Charters. Of course on the Federal level, there were no investigations. Bubble Ben kept rates low while his bank buddies raked in trillions with no liability. The Big Bank Big Lie that they never thought prices could drop in the real estate markets were betting against the MBS's and CDO's they were creating and selling by shorting. They'd have to have been idiots to not know prices were going to drop-we know they're not. They got the gullible public's money so, we're the idiots. No more I say!

crissy: (January 15, 2010 1:22pm)

Again let's not concentrate on the 200.00 gift card. Let's concentrate on the lower interest rate. I don't like the new appraisal process any more than you do. But it is what it is!

5pence: (January 15, 2010 1:16pm)

How so very generous of Wells to give the borrower a $200 Visa card taken from the appraiser fees they skim. Why, it's almost like they're saints.

Realist 1: (January 15, 2010 1:02pm)

Shiela Blair blamed it on the regulators! How brilliant!! Guess what? The regulators (lobbyists in discguse)were in fact very much responsible for the whole thing. They were NOT however asleep at the switch as lots of people claim. They were complicit in the crisis. That's what its all about. Lobbyists in a very sly manner become regulators and simply don't regulate. They are partners in crime. PROSECUTE THEM ALL.

crissy: (January 15, 2010 1:01pm)

Wow! Wells Fargo offers an incentive to go with them as a lender. Big deal! The greatest point you made is they offered him a lower interest rate. Don't think they are feeling threatened in the least.

mrjuz: (January 15, 2010 12:55pm)

Just wanted to throw something out there...has anyone else come across this?? I just talked to prospective client from a couple of days ago and he informed me that he was now going with Wells Fargo because they offered him a lower rate and that Wells Fargo was giving him a Visa card with $200 on it at closing. Do you think they are feeling the pressure from MetLife already???

EWS3: (January 15, 2010 12:31pm)

I would send every loan to Met Life !!

reelyst: (January 15, 2010 12:19pm)

Stating that regulators "failed to prevent the financial crisis"...Sheila Bair simply sets the stage for our wonderful self-serving saviors in DC to impose more and more counterproductive regulation on all of us. I wonder how come these types never come out and say that it was their guidelines, recommendations and regulation that was at the heart of the problem. The real culprits we need protection from are those "players in position of authority" who claim to be saving us. Perhaps we should eliminate or at least limit the power of some of these players rather than simply replacing them. Just a thought.

Chris: (January 15, 2010 11:45am)

Frank....... "gotten"?

BrokerTrying 2Survive: (January 15, 2010 10:51am)

Yesterday, someone said to check out the letter that Congress wrote to Bernanke regarding YSP. This is a MUST read: http://www.mortgagenewsdaily.com/cfs-file.ashx/__key/CommunityServer.Components.UserFiles/00.00.03.44.60/Senate-Letter-to-Fed-regarding-YSP.pdf You clearly see Dodd's name, and his opinion on YSP. They really want the Broker gone, huh? Today, this article comes out in regards to Big Banks accused of Short Sale Fraud: http://www.cnbc.com/id/34877347/

Mookhunter: (January 15, 2010 10:45am)

MetLife already does wholesale andnot very well. Especially in Orange County, CA. Must be the management.

metlife: (January 15, 2010 10:27am)

metlife already offering wholesale for at least a couple years now???? what are they going to do differently

Metappraiser: (January 15, 2010 10:19am)

You make a good point "one who knows" and likely hit "the nail on the head". It is possible it is the AMC not Metlife that is adding the additional criteria and causing issues. One of the reasons I like working for Metlife, in our area, they do not use AMC's. They have a seperate department that has knowledgeable UW's and processors. I have experienced AMC's I'v fired for just the reasons you stated. Many AMC's cross the bounds of professional practice and USPAP requirements. Not all, but many. Calif is now mandating licencing of AMC's so they can be regulated, possibly good but I don't believe you can legislate ethics. Saying NO is am important skill for a good, ethical appraiser when it is appropriate.

Crissy: (January 15, 2010 10:17am)

Understood they are a big lender but doesn't that say something good not bad. The reason they are still around unlike many other banks is because they stayed away from loans that I believe caused alot of the problems we have now. I worked as a broker for quite a while before I started with Wells Fargo and although their underwriting guidelines were an adjustment for me, I feel good knowing I am working for a bank that will be around when others are not.

Appraiser Guy: (January 15, 2010 10:13am)

Guys, I'm a commercial appraiser. In either Dec. 2005 or Jan. 2006, I uncovered an obvious fraud in Newport Beach,CA. Two properties were flipped by the same entity for a bogus "profit" of $1 million for ea. property.I had a Listing where the Listing Agent stated in the Listing in big capital letters that she was aware that the property sold after her sale, but that the re-sale was bogus. I called FBI White Collar Crimes in L.A. & the Agent who interviewed me kept asksing me: "Mr. Carlson, why is it a crime to buy low & sell high?" She could have cared less. I offered to send her my data & she allowed as how she would get back to me if she needed it. I'm sure it won't be a surprise that neither she nor anyone @ the FBI ever called me back. I looked up one of the properties later & as I recall, JP Morgan Chase took a $1 million bath in a foreclosure. Now, they're giving this top priority, how nice!

one who knows: (January 15, 2010 10:12am)

Metappraiser: I think I see the issue. You say you must sometimes educate the UW. But what if the AMC reviewer(probably not an appraiser) will not let data because of their opinion. Do you know if instructions blanket both lender and AMC or are they some AMC rules to simplify their life. this can be an issue.

brian tbws: (January 15, 2010 10:07am)

Hi Crissy. They're big... that means they're a bigger target.

Crissy: (January 15, 2010 9:51am)

Why is there such a bad name out there for Wells Fargo? I think they are a terrific bank.

Someone who knows my area: (January 15, 2010 9:50am)

Metappraiser: If you reread my post I said "some markets" and was answering a direct question. I never said all markets. I responded to a direct question, sorry you misunderstood. I never painted a broad brush--only my experience, and it seems others agree. Thank the stars for your situation, when things change they are typically are for the worse. I am being honest when I say I hope it does not head yor way. But MET or the AMC they use in some markets is NOT good but it seems it may be better in Calif

brian tbws: (January 15, 2010 9:37am)

Hi Kim. Marc Savit is in NY with alternative proposals at Cuomo's office. NAMB is in DC in Feb to discuss HVCC with FHA commish Dave Stevens. We just spoke with Roy Delouch, NAMB's D.C. lobbiest, and we'll be there to cover any updates for you guys. AND there's a rumor that Christopher Dodd is talking about "canning" h.r. 4173. Thats the bill that abolishes HVCC. Now thats a rumor at this point, but I find it interesting that Dodd is attached to the story. Dodd has stated that he will not run for re election.

Revealing Poll results!: (January 15, 2010 9:29am)

Those video poll results are revealing. I think people would rather be one of Barney Franks gerbils than send a deal to Wells or B of A!

Owl Tree: (January 15, 2010 9:27am)

Agree with other on MetLife.... they went from good to terrible within the space of a week. Their turn times jumped from 48 hours to (literally) over a month without any forewarning. My old AE left them in disgust, and was replaced by a complete foolio. It cost me $1000's of dollars in extension fees, because I couldn't in good conscience pass the costs on to my clients. To anyone looking to get involved with MetLife, I'd say stay away...they are more focused on retail than wholesale

Metappraiser: (January 15, 2010 9:24am)

I cannot speak for anyone else or other markets. As I'v stated I work in Calif. I have never been asked to change my report, rewrite my report or do anything against USPAP by MetLife. I'm sorry "one who knows" that you have not experienced the same. I could not tell from your emails where your from, maybe I missed it, or what they asked you to remove (not my business). My intent is to be clear I have worked for MetLife and FirstHorizon before that for many years, appraised and teach over 18 years and here in Calif have found them to be very ethical and knowledgeable. To paint them with a wide brush of "bad" is unfortunate in my opinion. At times as an appraiser we have to "educate" the underwriter as to what we can and cannot do, we do not know their side of the business as well as they do either. Have a great day.

One who knows: (January 15, 2010 9:22am)

5pence: Thank you, If brokers understand the lenders instructions may limit the choices we have that WE as appraisers made before, then they would not blame us for low values. YES, it is the investors right to narrow the appraisal in whatever form they wish, it is scope of work. But how many lenders will allow you to state that the INSTRUCTIONS may have reduced the comps to sales that Narrowed or skewed the final value, NONE OF THEM, WHY IS THAT, MASTER META? I understand both sides and balance them, It is clear that you have no issue with following the scope of work instructions, so all the brokers here know why your value came in low, when it actually could have been higher still following USPAP. HIDE behind USPAP and give low values, That is weak when I am talking about a result that would give fair MARKET VALUE, not overinflated values, I will use you expression and say that maybe you dont understand things as well as you think!

Evergreenappraisers: (January 15, 2010 9:21am)

below comment began in reference to Brian's 'How's everyone's day...?"

Evergreenappraisers: (January 15, 2010 9:20am)

LOL. I can't help but have that vision of Dad walking in on a bickersome, whiney, tired bunch of kids and asking all cheerily, 'Is everyone having fun in here?' Wish the problem was simply that we all needed a nap and a snack. It's far more complex once we're adults, isn't it? Metlife may behave differently than First Horizon/First Tennesee did. It appears to differ from region to region as well. To each his own. YMMV, but personally I think they stink for a variety of reasons and lack of respect for appraisers was a large part of it.

5pence: (January 15, 2010 9:17am)

When my appraisal is done it is figuratively written in stone. I will not change it except for my own errors like sale dates or zip codes. That's probably why AMC's don't like me lol, that's ok with me, I'd rather keep my professionalism and ethics. Ho once and you're a Ho forever. Yep, this profession has gone to the ho's in a race to the bottom for fees.

kim: (January 15, 2010 9:15am)

hey Biran - can you give update on hvcc new news and how fha is going to handle hvcc

brian tbws: (January 15, 2010 9:11am)

Hey everyone Hows your day goin!?!?

One who knows: (January 15, 2010 9:08am)

Metappraiser: You must live well, You have never been asked by an AMC or lender to remove things from your report. I have by METLIFE and i will guess that every appraiser here has to some degree. You probably are the one who does exactly what they ask and cover yourself with the grey (blanket) of USPAP. See I can generalize about you too, and sound pretty ignorant. Every AMC and lender is different in every market and they will try to get away with whatever they can, EVERYONE but you knows this. I can only speak of my market and what they try to do. Stop acting like you know all, I never stated I know anyones market and AMC conditions, but my own.

5pence: (January 15, 2010 9:07am)

Meta: Who are the "funders"? Isn't that us? The taxpayer. If the amc is forcing you to use their avm derived comps that are REO's or foreclosures, that is trying to influence value and a USPAP violation. If they try to affect the outcome of the appraisal by onerous stipulations at the time of assignment, get out. That is a USPAP violation. For instance, they are quick to make you aware that a home is in a noted "declining" area and that they expect the appraisal to reflect that. Declining area is a broad term and deson't describe every market and pockets of submarkets. To force you to define the subject as in a declining market is a USPAP violation. These are idiots at the AMC's, but some appraisers do whatever they want to keep working - even if it violates USPAP. That's they need to be reviewed and turned in to their state board. Wells has it's own "comp check" form which is also a vilation of USPAP. You are risking your livelihood and profession dealing with these vipers.

One who knows: (January 15, 2010 9:00am)

Metappraiser: Do not talk about things you do not know about, Of course instructions are scope of work, but some instructions can mislead reader, if they specifically tell you to state that the client gave you no instructions in the report. Do not talk about what you do not know. I am clear on USPAP. You are generalizing when I said that I can not tell if the lender or AMC stated instructions. Every appraiser here can tell you that some instructions are meant to favor the client and funnel value (down), they may or may not violate USPAP. if the value requested is market and the vlaue you determine through instruction is less than market. This may or may not be acceptable. I did NOT generalize, but you did. St Pauley wants to know how things work, I gave an example and did not state that anything was absolute by every lender and/or AMC. You can speak for every market, every lender and every AMC. Why did this all get started. Violations and pressure from AMC's, remember.

Metappraiser: (January 15, 2010 8:54am)

One Who "Knows" - what your describing is not a violaton of USPAP it is good appraisal practice in the current volitile market and REQUIRED by Fannie/Freddie. Blaming the lender is missing the facts. Markets are so volitile the last 90 days is most relevant in MOST markets and the rules FannieFreddie and most lenders have say if you cannot meet them you must clearly explain. Folks need to remember, it is the funders money they are lending, it is not a RIGHT to get the loan - it needs to make good business sense. Some seem to forget that.

5pence: (January 15, 2010 8:54am)

Ha!! On CNBC they were just talking about short sale kickbacks required from the realtor and/or the seller by the banks to close - and these kickbacks to the banksters are not to be reported on the HUD-1. The menitioned this is normal practice for all the too big to fails. Too big to exist without committing crimes. These are only the crimes we hear about - I'm sure the depths of their depravity goes much deeper.

Toby: (January 15, 2010 8:53am)

FHA in their new year letter said that they would have guidance on the 2/15 appraisal rules in the coming weeks. They DO realize the significany problems with the HVCC and the unintended consequences of the AMCs.

newbee: (January 15, 2010 8:53am)

Fees? So the government likes the idea of an "endless stream of money"... who doesn»t. Problem is: those fees will surely just get passed to the consumer, you and me... us and we, to pay, and pay, and pay. Or will there be another regulation to protect the consumer from that happening? Remember: there were no regulations in place to direct the responsibility of those very institutions who cheated everyone to begin with.. and they just ran amuck with the bail out billions.

St Pauly Girl: (January 15, 2010 8:53am)

to Old AM...no update from FHA yet on HVCC processs...as it stands, all FHA approved companies continue to order as previously.

Bryce: (January 15, 2010 8:51am)

RDRobin- If you're having trouble registering or access the Sales Training Summit site after registering, please email me at- info@salestrainingsummit.com and I'll work on getting it resolved. Thanks for registering and I hope you enjoy the event

Rex: (January 15, 2010 8:50am)

On the positive side for appraisers MetLife uses AppraisalPort and pays full fees. On the negative side they have onerous appraisal agreements with apprasiers that put them at significant risk. Read, "I better not over value this property or MetLife might make me buy it back. To be safe I'll err on the low side."

One who knows: (January 15, 2010 8:49am)

In the past with lots of clients (good ones developed over 14+ year), if someone asked to limit comps to 90 days, or if any comp outside 6 months add 3 current listings, discuss why these sales werent considered (short sales/foreclosures), add more comps, do not use this, use that, etc. I would move on to other clients. Now I am lucky to have 2-3 AMC give me work after signing up with more than 100. I must do what they say or not get work. I know many appraisers here will tell me to quit for their cause. I have to feed my family. I have tried Attorneys, Local banks, FHA, tax, PMI work, no luck. Hell I get work from my old clients through AMC's, even FHA. So now, I cant just move on to client that is better, All AMC's force your hand at some point. Those who bend faster get the work, Those who stand their ground, lose work, I am falling into the latter after 14 years of honest work. I have had more pressure in 7 months than all the prior 14 years combined.

AIN: (January 15, 2010 8:47am)

Old AM - as of today FHA has not come out with any new information regarding their expected 2/15 date for their new rules. It is not the same as HVCC, they have adopted some similar rules but they are NOT the same. You can check out the fha mortgagee letters on their site or at www.AppraisersInfoNet.com

Toby: (January 15, 2010 8:46am)

See previous threads on doing busines with MetLife. As Snoopy would say, "Ahrrrg!" It's that time 2 in the new year. Besides, MetLife is too big to fail too. They are the largest life insurance company in the US and would bankrupt the state of NY if they went under.

Metappraiser: (January 15, 2010 8:44am)

CAREFUL believing all you read here. It is NOT a violation of USPAP for a lender to have STRICTOR requirements than the rules at the fed or state level. USPAP requires the appraiser to understand the scope of work which includes any requirements by the lender. The appraiser must not mislead the reader of the report so including how they came about their data searches ect may be required. MetLife in Calif does a fantastic job, is definately compliant with HVCC and never asks the appraiser to do anything that contradicts USPAP or good business practice. I'm guessing the appraiser is mistaken, misunderstood or doesnt fully understand USPAP rules. Only the exact specifics would tell the full story.

One who knows: (January 15, 2010 8:36am)

St Pauly Girl: The AMC may be at fault, but the instructions for the appraisal include additional comments they require to be written in the report addendum that contradicts their own instructions, misleading the reader that the appraiser limited the choice of comps based on the appraisers opinion when the instructions limited the type of comps could be used by the appraiser. People do not get that the instructions forced on the appraiser will limit the comps we use or they wont accept the report, forcing the appraiser to use the data they want or fight forever against the AMC or Lender and not get work if you question them. I choose not to accept the assignment, which still gets me in trouble

old am: (January 15, 2010 8:32am)

does anybody know if fha is still going to do hvcc 2-15 and if it is going to be like conforming

rdrobin: (January 15, 2010 8:21am)

Sales Training like the idea like to passwords doesn't work

5pence: (January 15, 2010 8:20am)

The "Too Big To Fails" committed crimes to get that big, so, does anybody really think honest policies will keep them that big going forward? They've taken over the mortgage broker and appraisal businesses to keep them big and support their greed avarice. They're sucking up money from anyone and everyone they can. They're a pox on the financial systems and need to be broken up to where they can be honest in their investments. We keep coddling and supporting them as they grow larger the more they will need to control for profits. Realtors are next. Does anybody anywhere really believe their excuse that they thought prices would always go up? They are not that dumb but they expect we are.... sus SoCalAppraiser, you read that TAVMA crap, why didn't you leave a comment? I did. We can't allow that bs/propaganda to stand unchallenged. BTW, Frank and Brian, I'm trying to decide who you remind me more of, Martin and Lewis or Rowan and Martin lol. Always a good show guys.

St Pauly Girl: (January 15, 2010 8:18am)

One who knows...how do they violate USPAP? I'm not an appraiser so am not familiar with all USPAP rules. Thanks for the reply all, I just need to know how to help avoid this situation with future deals.

One who knows: (January 15, 2010 8:12am)

St Pauly Girl: Met life ordered appraisal through AMC and then gave instructions on date of inspection, appraiser could not follow instructions violating USPAP. on other orders instructions came after inspection, again with requirements violating USPAP. May not have been appraisers fault, but on the other hand, who knows. METLIFE or AMC for metlife will violate USPAP in some markets. I will not do their work

Evergreenappraisers: (January 15, 2010 8:09am)

Used to do work for First Horizon and they were a marginal client overall. They used Appraisal Port, but the appraiser paid both the site usage fees. Double what you pay for all other uploads. When Metlife bought First Horizon, they sent out this horrific appraiser contract. Telling me who I could have in my vehicle, how long I was supposed to wait for a borrower who'd no showed our appointment, call and as their central office for 'permission' basically before I drove off, and other nonsensical terms. When they demanded I up my E & O policy amount, I fired them. The last two or three fees had to be extracted out of them through numerous follow up calls...simply not worth it.

St Pauly Girl: (January 15, 2010 8:00am)

Another LO in our office has a deal in with MetLife. We waited for 1 week for an appraiser to accept the job (through whatever wizard system they have- I suspect the 'cast out & take the lowest bidder appraier'). Our client took 1/2 day off work to meet appraiser at their home; and the appraiser didn't bother to show up, or call, or anything. The client is so pissed, they are considering cancelling their transaction. Here are the clients words "I know the gov't is trying to protect consumers with this new appraisal system; but for God's sake, you have to know who you are working with to avoid this type situation". We couldn't agree more!

Flying Doghouse: (January 15, 2010 7:53am)

Metlife? Are you kidding me? Stay away from them. AE's and management are from Mars. Clueless wonders, who cannot be trusted. I agree with Gilbert and SoCalLitho.

LoanPro: (January 15, 2010 7:52am)

Where to start with MetLife? They do not take "portable" AMC produced appraisals. They do not care what your findings with DU/LP say, they do not even follow their own written guides when they personally don't like the deal, it is a TD! Takes 3 months or more to close a simple FHA or Conv loan that should take at most 1 month. Restip and suspend most loans to avoid closing. Now I know that 99% of all lenders do not care what Fannie/Freddie think b/c of the last time around so b/c they kick back stuff to lenders for almost nothing, that is why they manually underwrite all of their loans!! FIND SOMEONE ELSE TO CLOSE YOUR LOANS OR THEY WILL RUN YOU OUT OF BUSINESS.. My last client had 3 amc appraisals done and they td her 2 days before closing for something contridicting their own policy..and I got a call from the BBB!!! F*&@ METLIFE!

old amer: (January 15, 2010 7:49am)

does anybody know if fha is still going to do hvcc 2-15 and if it is going to be like conforming

ej: (January 15, 2010 7:46am)

i know of one lender who will do one day off market...Liberty Mortgage. at least in georgia. MetLife - i have waited 4 months for my new employer to get approved with them. handed in 3 files the day after approval. i LOVE them. yes underwriting is 48 - 72 hours but they use A=AMKE SENSE underwriting, at least in my 12 years experience with the Atlanta branch. (formerly 1st horizon)

Metappraiser: (January 15, 2010 7:44am)

I do appraisal work for MetLife and have for a long time, they do not us an AMC in this area of Calif, they use a roundtable of local appraisers and put the ordering in a different department so it is completely compliant. The borrower is ONLY charged the fee the appraiser gets and communication if much easier than thru an AMC. It has been my experience they have the best appraisal ordering system out there for the borrower since only local experienced appraisers are used and they are not charged inflated fees for inferior appraisals that went to the lowest bidder.

sus SoCalAppraiser: (January 15, 2010 7:30am)

1/13/10 "Appraisal Scoop/FeedBlitz" Press Release from Title/Appraisal Vendor Management Association (TAVMA) THEY have announced today that its membership has developed "Standards of Good Practices in Appraisal Management," a set of guidelines for the industry. The Standards outline best practices to help ensure that appraisal management companies (AMCs) and appraisers deliver quality, objective valuations to their common customers â€“ financial intuitions. They ALSO noted they Represent 75 Companies..including 40 of THE LARGEST AMC's, with a COMBINES SHARE of 80% of the MARKET. AMCs are currently involved in over 60 percent of all residential transactions; over two-thirds of all licensed and certified residential appraisers work with AMCs; and preliminary results of a member survey suggest that the average AMC appraiser has 13-16 years experience." So can CUOMO Explain HOW this has helped with "Appraiser Independence"???? follow the money trail...

CHUCK: (January 15, 2010 7:27am)

IS THERE A WAITING PERIOD FOR SOMEONE TO REFI IF THEIR HOUSE LISTING JUST EXPIRED THRU FHA.

chuck: (January 15, 2010 7:24am)

frank and brian live in the state of confusion

SoCalLitho: (January 15, 2010 7:16am)

Ditto to Gilbert! MetLife cannot get out of it's own way. Stay Clear, way clear unless you have no other option!

Limo and Lunch: (January 15, 2010 7:14am)

This is mortgage geek "CRACK" i watched my first video last night and couldnâ€™t wait to get up and watch again this morning. Educational and hilarious.

rural lender: (January 15, 2010 7:10am)

who was the first girl walking? she is an 11+

Andy Brown!: (January 15, 2010 7:09am)

How can I get a job as a Federal Regulator? I would be a great one-I don't pay attention to very much at all.

Gilbert: (January 15, 2010 7:07am)

Steer clear of MetLife. Their underwriting is slow. Their pricing isn't competitive and they are notorious for telling you they can do a loan and then reject it when you submit the file. I lost 3 deals in one month that I cleared with their AE first, had DU approval. Even with DU approval they did a manual underwrite to justify declining the loans...

Workens: (January 15, 2010 6:52am)

What state are Frank and Brian from.

jenzo: (January 15, 2010 6:41am)

neappraiser - I do most of my business through MetLife. They are HVCC, who isn't these days. We can still order FHA/USDA through our local appraisers, but that too will soon come to an end.

Someone who knows: (January 15, 2010 6:34am)

neappraiser: Metlife uses an AMC for their appraisals. No better than the rest

real appraiser: (January 15, 2010 6:33am)

My thought on the government collecting fees or taxing any institution that has huge profits is if their owned by public shares or investors, why is'nt the money going back to shareholders and not the government. If you and I have money in these companies stock, should'nt it go back to us before the government takes its cut first. I know the shareholder keeps getting screwed each time a bank is closed, why now do they lose their right to profit. I wont invest in BofA becaue of their corrupt nature and CEO Bonuses, but if the government does this to any company they choose, their taking your profit before you get it and taxing the part you get after? Is this not a form of a double tax, the companies should be forced to pay the shareholder their fare share first.

KatieFan: (January 15, 2010 6:32am)

I bailed on Snoopy Mortgage when they purchased First Horizon... Do you think I would actually give them money now? Too many other warehouse lines to choose from besides the big three idiots.. look at Texas Capital and Florida Capital, much better to deal with. Why didn't Katie make an appearance through the door?

Jonesy: (January 15, 2010 6:25am)

Hey Nuke Em, ever tried Plaza Home Mtg? I find they're much better than Sierra pacific, AND do 203k Streamlines....give em a try, you might like em.

neappraiser: (January 15, 2010 6:23am)

Does anyone do loans though MET life now.. If so do you get to place the appraisal or not..

Nuke 'em 'til they Glow: (January 15, 2010 6:14am)

Where is Maybel!? Has she entered? The Fruits and nuts out there need to be served. Metlife talks the talk and doesn't walk the walk. I might send business their way but I'm still waiting for that dog of a lender Sierra Pacific to go under. That dog don't hunt and needs to be put down. Hmmm that's a thought lets get rid of the bad lenders still in the game keep some good ones and build some new ones from scratch

Evergreenappraisers: (January 15, 2010 6:00am)

Here's a link to an article on Obama's proposed banking industry fee plan. http://www.dsnews.com/articles/obama-proposes-bank-bailout-tax-to-recoup-90-billion-2010-01-14 This guy really doesn't get it. Each time you impose a fee on most businesses, but particularly banks, all they do is pass the cost onto the consumer. Hell, banks even pass many of their own costs of doing business onto the consumer. But then, that's if we take Obama at his face value excuse for dreaming up this tax. Brian's probably far more close to the truth with the 'income in perpetuity' theory. Probably has absolutely nothing to do with 'recovering the tax payer's money' in reality.

nickname: (January 15, 2010 4:55am)

Hilarious out take on the sexy votes. Would love to work in your office. I waited and waited for the fat chick to walk through the door, but the ending with the dude was even better. Brian, now it all makes sense with your little hand gestures. Cat's out of the bag now. Foot loose and fancy free.

BC: (January 15, 2010 4:27am)

That already happened. Holder needs to visit Braney Frank's Office and Chris Dodd's office. He should investigate it as long as he agrees to prosecute Democrats. However, he won't and the footage we have of Frank and Dodd, that has been aired for years now, means nothing.

Noel: (January 15, 2010 4:25am)

I agree, replacing nefarious regulators (bureaucracts) is called for; but this should always be the case for bad performance on the job. But, could it be that a larger, more comprehensive solution is to replace the politicians with those who will de-regulate back down to a reasonable threshold of government involvement. Almost every evil thing that happened to break the economy/housing market, was already against the law. But, I make your point all over again.