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

D-Appraiser: (April 23, 2010 9:28am)

Any news on HVCC?

Mark Green: (April 23, 2010 9:18am)

For those of you who say Brian and Frank don't "work"... clearly you've never tried making a video... let alone a video with fresh news and content every single day. That was a very ignorant comment. Here's my feedback about Carl White and the Mortgage Marketing Animals... they have a very unique style - and like them or not... you're going to remember them. And someday, you might even be curious enough to check out what they're doing. That in itself is great marketing. They are not trying to be all things to all people. I really dig some of the stuff they teach - and some of it... not so much. But give them credit for busting their asses and truly differentiating themselves. It's a great lesson for all of us to pay attention to whether we buy from the Mortgage Marketing Animals or not. Break through the clutter.

donogrp: (April 23, 2010 8:59am)

I'm way late to the conversation, so it's likely that no one reads this, but on the Carl conversation ... How many of us would have given our eye teeth to have had Carl as our sales manager when we first entered the business?

Frank Garay: (April 23, 2010 8:12am)

You should see me in person.

mainelo: (April 23, 2010 7:31am)

Frank, you look a little rough this morning.

Frank Garay: (April 23, 2010 7:14am)

You guys are right. I don't know why I let it get under my skin yesterday. Anyway, it's a new day and there is nothing but awesome things ahead of us. Let's rock.

Therealbob: (April 23, 2010 7:13am)

21 years. You are dead on. I read Cubbys posts, he claims to have paid TBWS for a few months and had a service problem. How did someone determine www.timpetit.com is really Cubby? Who cares.

Larry L: (April 23, 2010 5:14am)

Where's todays show? It won't be a workday without it!

Anonymous: (April 23, 2010 2:55am)

http://biggovernment.com/amellon/2010/04/22/indymac-attack-did-schumer-paulson-soros-and-the-crl-kill-the-bank-and-profit-from-its-collapse/

ssfranny: (April 23, 2010 2:55am)

here ya go more on this IndyMac mess. Gee no wonder Chucky Schumer was causing a "run" on Indymac

21 years and counting: (April 22, 2010 7:28pm)

I guess I picked the wrong day to participate. Most people who post negative comments are simply trying to get their jollys at the expense of others. I bet Cubby has been laughing his butt off all day. There are people posting this crap all over these types of blogs just to bait an argument! Today's results...Cubby 1 everyone else nadda! Next time respond to the first comment with a logical well thought out repectful comment and after that push the ignore button. They will usually go away silently into the night!

MIMortgageDude: (April 22, 2010 6:20pm)

Thought the Cubbster was SAFE Approved in 4 states, why only 2 listed on his "site"? If you are going to brag aout how many states you can write in, make sure no one can prove you wrong. If you don't like the Animals, don't use them. Personally they have some good ideas even if I don't buy their products.

Are you kidding me?: (April 22, 2010 5:08pm)

THAT'S his website? And after all that junk he's talking he started a fan page? Good grief, it takes all kinds. Why is he even here if he's so displeased? Makes no sense whatsoever.

Exposed: (April 22, 2010 5:02pm)

Meet Cubby: http://timpetit.com/ Nice professional webpage. This guy is a real winner. you want to hear the funny part.... He started a fan page today bahhhhh hhhhaaaaa hhaaaa

Exposed: (April 22, 2010 5:00pm)

Here's Cubby's info. this guy looks like a real champ! http://timpetit.com/ Nice professional webpage. This guy is a real winner. you want to hear the funny part.... He started a fan page today bahhhhh hhhhaaaaa hhaaaa

Sunshine: (April 22, 2010 4:50pm)

You know who...me thinks you need to think again. Really, arent we all tired of all the negativity. Good grief, thats all we hear anymore. If you dont like Carl, well, dont use him, but dont slam the rest of us for trying to do what we can, to keep doing what we love to do. We are not hurting anyone by trying to be better at our jobs.

Cubby's a dufus: (April 22, 2010 4:39pm)

Must have worked for Scotty.. he did 180 loans last year. Get the hell off this blog if you don't like it dude, you're an ass and everyone can see that. So their customer service sucked, then quit and get over it. The guys should go back to a closed blog to keep knuckle heads like you out. Frank called you out dude, where is your site? Where is your blog? Let's go spend some time there. You won't. All talk, no guts, go home.

You know who: (April 22, 2010 4:23pm)

Sunshine - Have you supported TBWS by subscribing as I did? Me thinks no. Frankie, You started a public blog. What did you expect? As for the car salesman in Carl you got that wrong. A review of NMLS reveals his partner Scotty went from Snap On Tools to selling cars to loans, at least he passed NMLS.

Sunshine: (April 22, 2010 4:11pm)

Okay Chubby Cubby. You have basically waisted all of our time today going on an on about yourself. I for one am pretty tired of it. I probably would have just kept my mouth shut if you had not attacked Frank the way you did. NOT CALLED FOR. I am sure that the competition in your area is well aware of how successfull you are. I mean, we all here can tell that you are a real class act! I have been using some of Carl and Scott's ideas since the summer of 09. They are fantastic guys. Due ot he fact that you have 57,000 fans and NO loans, you might want to re think your NEGATIVE stratagies. The rest of us will do loans.

Frank Garay: (April 22, 2010 4:10pm)

You can't do it Loan Ranger... It's a no no.

Loan Arranger: (April 22, 2010 4:09pm)

Is anyone both a Loan Originator and Real Estate Broker doing FHA loans out there? I'm being told that you cannot. HELP !!!

Chubber: (April 22, 2010 3:57pm)

Here is the long awited link www.areyououtofyourmind.com

Tina: (April 22, 2010 3:56pm)

Hey Frank, Meet Cubby: http://timpetit.com/ Nice professional webpage. This guy is a real winner. you want to hear the funny part.... He started a fan page today bahhhhh hhhhaaaaa hhaaaa

Pipe: (April 22, 2010 3:43pm)

OR appraiser - I am working on a website now, try google local in a few days. Thanks

OregonAppraiser: (April 22, 2010 3:34pm)

Pipe: Great, I'll google you and see if you are in need of appraisers in my area. Good luck!

Pipe: (April 22, 2010 3:25pm)

Oregon Appraiser Southwest AMC will be fully fuctional in 10 days. Thanks for the advice. Facebook, after all the comments about the Animals I may have to check them out.At least they are being talked about no better advertising than that.

Oregon Appraiser: (April 22, 2010 3:21pm)

Pipe: JoeColorado is giving you good advice. We have a few appraiser-run AMC's in my area who pay full fees and hire good appraisers. Ask for examples of work product when compiling your appraisal list. If you don't feel competetent to judge the work product ask an experienced appraiser's opinion. I am suggesting this as I have been told it can be difficult to get a bad appraiser off your list. Really, a good answer to this whole thing is to get good appraisers and like-minded others running the AMC's and rewarding competent appraisers with adequate compensation. So much noise has been made about the poor work quality being supplied to the AMC's that I would think the lenders would be open to a better alternative, especially if it does not cost them more than they are paying now. And it shouldn't. I've done an AMC appraisal with a $375 fee and the borrower told me he was paying $600. I have played with the idea myself but have not seriously pursued it.

Oregon Appraiser: (April 22, 2010 3:20pm)

Pipe: JoeColorado is giving you good advice. We have a few appraiser-run AMC's in my area who pay full fees and hire good appraisers. Ask for examples of work product when compiling your appraisal list. If you don't feel competetent to judge the work product ask an experienced appraiser's opinion. I am suggesting this as I have been told it can be difficult to get a bad appraiser off your list. Really, a good answer to this whole thing is to get good appraisers and like-minded others running the AMC's and rewarding competent appraisers with adequate compensation. So much noise has been made about the poor work quality being supplied to the AMC's that I would think the lenders would be open to a better alternative, especially if it does not cost them more than they are paying now. And it shouldn't. I've done an AMC appraisal with a $375 fee and the borrower told me he was paying $600. I have played with the idea myself but have not seriously pursued it.

Pipe: (April 22, 2010 3:16pm)

Thanks 5pence, I cannot find any AMC guidelines so I will write my own.

Pipe: (April 22, 2010 3:15pm)

Thanks 5pence, I cannot find any AMC guidelines so I will write my own.

Blueman: (April 22, 2010 3:13pm)

Great postings today, Carl this, Cubby that. I love this stuff.

5pence: (April 22, 2010 3:09pm)

joe and pipe- some amc's are charging the consumer by the value of the home. if they can get away with it then why not for pipes amc? SF Appraiser. The more I think about it the more I'm convinced that amc appraisers were the main cause of fraudulent valuations before, during and after the boom and bust. The amc appraiser has all their eggs in one basket - the amc. Independent appraisers could always say no if they didn't like the fees or felt any pressure. There were too many honest clients to work for to bend to the will of greedy brokers or banks. The only ones that would risk their licenses & livelihoods are the amc appraisers that could not find their own clients and had no other choice but to play the game by their rules. Trapped by their lack of skill and used by the amc's to gain a larger market share, pre-HVCC, by being numbers hitters. It's the only way the amc could gain market share with their less than skilled appraisers being paid less than market fees. They are the cause

Pipe: (April 22, 2010 2:53pm)

Joecolorado, Forgot to mention, I have an SRA with 20 years experience no AMC experience so in good shape. I don't know how long a few of you have been around but LSI was doing an AMC thing in the late 70's.

Frank Garay: (April 22, 2010 2:50pm)

Cubby and GTS - All I'm going to say is you're both wrong. Brian and I said the same thing about Carl, in fact if you can find someone who was in their master mind meeting in Florida, I actually said that Carl has the car salesman thing going on, making things seem too good to be true. Now having sit in on his event and a live webinar when we were there, I couldn't have been more wrong. For all those reading this, if you trust me at all with anything, I can assure you that Carl is one of the most innovate marketing guys out there and if you attend his webinar, you'll walk away with huge value and a plan if you buy a product or not. The products he sells makes the process easier, like it? buy it. Don't, you've still gained huge value. Don't let any nay sayers on this blog stop you from checking it out for yourself.

Pipe: (April 22, 2010 2:49pm)

Joecolorado, I havent survived for this long by dictating my terms. I want everyone to make money. Here is an email address that I could care less how much junk is sent [email protected] Send me a way to contact you if you are serious about beibg a prt of the solution. Thanks

Joecolorado: (April 22, 2010 2:35pm)

Pipe-but what is really refreshing is that you asked for direction regarding fees,whereas the amcs dont.

Joecolorado: (April 22, 2010 2:34pm)

Pipe-the easiest solution is to ask the appraiser what his/her fees are!tell him/her the details and let the appraiser work it out. I talk with non amc clients daily and I have been able to get work,so if you are reasonable and produce a good product within their parameters andon time,the client will realize that and wont have an issue with fees.I generally dont gouge borrowers,but word soon gets around if you do,and there wont be any work if you are expensive and produce rubbish.

San Francisco Appraiser: (April 22, 2010 2:26pm)

I believe they should make the usage of AMCs illegal. I believe it is the bank's fault that the housing market crashed and they blamed the appraisers because, we do not have a strong voice. The banks with their sub prime loans are the ones who increased property prices of homes by flooding the market with unqualified buyers. Then they blame us for over appraising but the fact is they allowed people to buy houses who should not have been allowed to make bids on houses. People used unstated income or fasle income, bad credit and false jobs to purchase homes. HVCC did not correct the housing market the fact that the get rid of their sub-prime loans and phony buyers; this corrected the housing market. This is the basic appraisal principal of competition or supply and demand. AMC only erodes the appraisal practice. It should be illegal to choose an appraiser just based on price and AMC should not be allowed to fee out work. They have no accountablity and that is wrong!!!! They should be hel

T00_Cute: (April 22, 2010 1:20pm)

FNMA announced today that the waiting period for a previous foreclosure or deed in lieu of foreclosure is being reduced from 4 years to 2 years. This new rule will go into effect in July of this year. However, a 20% down payment will be required on the new purchase. This was passed on by Guild Mortgage

Sunshine: (April 22, 2010 1:15pm)

Dorny. Yes. In other words Seller and Buyer have agreed on everything and it is Mutually accepted by both. Dont forget that the sale Must close an record by June 30th.

Just1Voice: (April 22, 2010 1:14pm)

To expgaappraiser: How do you know as an appraiser that most of the folks that walked away had no business owning a home in the 1st place or weren't part of the hard working taxpaying american? Here's a newflash: To get any help (bail-out) they had to be low income. The working class tax payer did not get a bail out. In fact because of derivatives once jobs were lost the investor holding the mortgage hoped the the mortgage would fail. Sorry about the HVCC, however, that is our government choking the appraisers, just like they did realtors and mortgage professionals. PS And we aren't even counted in the unemployment figures. Don't be so quick to think people just walked away!!!!!!!

Pipe: (April 22, 2010 1:10pm)

Joecolorado - We are a banker however we occasionally broker. Provident AmTrust etc. Publish fees on value. Help!

5pence: (April 22, 2010 1:07pm)

Here's a toll free # where you can call directly to your own Senators office in Washington. I've called at least 6 times. Spread this info around. (866)544-7573 Office of Senate Toll Free (call between 9am & 5pm EST).

Curious: (April 22, 2010 12:53pm)

Does anyone know of a group or organization that fights for the stabilization of our Real estate economy? Regulating Loan Mods so that they actually get done with purpose!????

Joecolorado: (April 22, 2010 12:45pm)

Pipe-the fee cannot be related to the value in any way, you may need to think about rewording that offer.

5pence: (April 22, 2010 12:44pm)

@ San Francisco Appraiser: (April 22, 2010 11:59am) Here is the the id number to give your input on Financial Reform TREAS-DO-2010-0001 and HUD 2010-DO-0029-0001. Nice job San Francisco Appraiser! Access those ID numbers at www.regulations.gov or for a direct link to where you can leave comments : for the Treasury and HUD : http://www.regulations.gov/search/Regs/home.html#searchResults?Ne=11+8+8053+8098+8074+8066+8084+1&Ntt=TREAS-DO-2010-0001&Ntk=All&Ntx=mode+matchall&N=0 .Click on Title at the bottom left of the page for either Treasury or HUD and then on the next page at the top middle there's "submit comment" click that and then you're at the registration page where you can submit your comments. Again, excellent work SF Appraiser. Thanks

expgaappraiser: (April 22, 2010 12:41pm)

Sorry Guys - I don't agree on the foreclosure idea - Most of these folks that walked away had no business owning a home in the first place. As a responsible tax paying citizen who DOES pay into the FICA system - I'm only a few months away from having gone thru all my savings due to 95% less to no work since HVCC - a year now, no jobs and almost 11% unemployment in our market - things still are barely moving here - home values have dropped up to 25-30% in this area so few can even qualify to refi to escape arms. To think that those who walked away and taxpayers bailed out - they shouldn't be allowed to OWN or purchase a home for at least 5 years in my opinion - without at least 25% down.

Pipe: (April 22, 2010 12:34pm)

Oregon Appraiser, URAR up to 500K 400.00 seems ok to me. AMC rakes 100.00 LLC already filed will update when ready to go, it will not be long. Any comments?

Dorny : (April 22, 2010 12:31pm)

Sunshine - So you're saying the Contract needs to be signed by the Seller no later than 4/30?

Sunshine: (April 22, 2010 12:20pm)

Dorny, In contract means the the Seller and the Buyer are in a Mutually Accepted Purchase and Sale Agreement. MUST be Mutually Accepted in order to qualify for tax Credit. The loan MUST fund by June 30th, 2010.

Oregon Appraiser: (April 22, 2010 12:18pm)

To Pipe: I hope you are going to start your own AMC and that you will charge a reasonable fee to the lender for your needs and give the appraiser full fee and hire GOOD appraisers. By paying full fee you will be able to do that.

LoansByRay: (April 22, 2010 12:08pm)

gtsmortgage: Dude, he didn't say he has the biggest fan page on earth, he said he has the biggest fan page on earth for LOAN OFFICERS... Check it out, he does. And did it in like 10 days! Check it out for yourself. (I did) The proof is right in the number of fans seen on the page. Nobody else is even close. I just think the guy gets excited. When you see what he's doing, who wouldn't!

Seriously: (April 22, 2010 12:03pm)

Enough with the Marketing Animals. It was a joke. These just learned Facebook for themselves!

Nonya: (April 22, 2010 12:02pm)

I just went and looked at Chris Brown's fan page (he was on a call with Carl), he has 40 or so agents asking him for more info, and they all looked real to me. All agents with agent's pics and websites.

San Francisco Appraiser: (April 22, 2010 11:59am)

Here is the the id number to give your input on Financial Reform TREAS-DO-2010-0001 and HUD 2010-DO-0029-0001

Danny: (April 22, 2010 11:58am)

Yes, you are totally off base. I am using it and have agents contacting me daily. The ones you are looking at must be the copycats who didn’t do the training. Funny, everybody that says it doesn’t work, haven’t tried it. All those that tried it are raving fans…... hmmmm

gtsmortgage: (April 22, 2010 11:39am)

I'm sorry is it just me? Carl at the marketing animals comes across as a total used car salesman. His "biggest fan page on earth" comment was completely bougs. I've seen some of the people using his methods in ads now and when I check out their page it's all just a bunch of his cronies posting on the sites pumping it up. The seminar's I've seen he just pumps himself up, gives you a tip or two, doesn't show you how to implement them then asks for $300 a month to get his modules. Honestly, am I really off base here?

Lisa's Dime: (April 22, 2010 11:30am)

While others are polishing and getting ready to do it, we are already at the closing table, and making money doing it! #1 Animal Lover! Thanks guys for everything you do! Don't ever polish up, just keep me on the front edge moving at the speed of electrons :-)

Stryker: (April 22, 2010 11:18am)

Great Job Frank & Brian keep up the good work. Btw I'm a consumer trying to get the latest info on the market. Every morning I get excited to watch your videos and hope it will help me make good decisions with my properties. Regarding the Animals. I'm the owner of Graphic Design Studio in the Bay Area we create web, adverting, packaging & multi media collateral. I've signed up for the “Marketing Animals” webinars and I see the value in their modules. Yep they are not all polished like we would expect from Apple Computer or Nike but it does not have to be in to days world. Jobs & Gates created the computer & software to help us create whatever wanted at work, school or in our personal lives. What an exiting platform we have here we are competing with the big guys & nobody can stop us! Even the most polished Companies can fail. Don't worry about being polished worry about pushing out good content to your customers & try being their partners & being positive too. Best of luck everyone!

BinSD: (April 22, 2010 11:11am)

Animals are worth way more than they're charging. I'm happy every month when the debit my account about $700 for all of the programs I'm part of with them. Carl is the reason why I am still in this business and haven't given up on myself. And by the way, Carl has a MA degree and is the sharpest person I know. Everyone in his group cares about each other and helps in any way they can. If you don't like what they offer, then don't use it. But don't be an complete f**king idiot and criticize others because you see no value. That's not cool and shows a complete lack of class...

Dorny : (April 22, 2010 11:03am)

Can anyone tell me the definition of "In Contract" relating to the home buyer tax credit deadline?

frankgaray: (April 22, 2010 10:46am)

sbutehorn - we took it from their guidelines.

DJPoulos: (April 22, 2010 10:40am)

Ummmm. New loan 3 years after a foreclosure? Not at all possible for those of us that live in States where foreclosures automatically result in a deficiency judgment.

Anonymous: (April 22, 2010 10:35am)

Forcier Webinar link: http://home.mortgagecoach.com/?elqPURLPage=76&src=TBWS

Pipe: (April 22, 2010 10:12am)

CUBBY FO

Pipe: (April 22, 2010 10:11am)

RealAppraiser - What I was exhibiting is most LO's do not have the expertise to critique an appraisal at that level. I did not have the space to post the rest of my letter - Appraisal comp photos wre MLS photos which leads me to believe the appraiser did not drive by any of the comparables. Sale tha should have been icluded in the appraisal, 6429 E Mark Lane, 2656 sqft on 1.25 acre lot with horse privileges. This home was remodeled, similiar to the subjects homein style Santa Fe, no pool. Sold on 12/29/2009 for a reported sales price of $470,000.00 Appraisal did not include cost approach. OK OK I know this is optional. WHY DID I START THIS?????????????

Pipe: (April 22, 2010 10:04am)

One last thing,and I mean last. I am starting an AMC it is too painful to have borrowers that are subject to the rise to mediocrity tjis system breeds. Joe believe this most LO's dont care dont know and will not bother to get better. CUBBY FO

Pipe: (April 22, 2010 10:00am)

That last post was from the Pipe. Get a spell check.

Anonymous: (April 22, 2010 9:59am)

Joecolorado, I had to learn how an appraisal was done, how to search for permits, how to verify data. Why? Because if you are going to provide for yourself you should know how an appraisal is done, how title is done, how a credit report is done and on and on. I took SRA 101 in 1985 201 in 1988 and did a demo report but never used the SRA designation. If you do not learn you HAVE FAILED or WILL FAIL. Enough I have to work. FO CUBSTER

Pipe: (April 22, 2010 9:55am)

Joecolorado, I am the underwriter and I own the company we are a FNMA/FHLMC seller servicer. I have been in this business for 28 years and originate by referral only. SideBar - Hammer, I LOVE that guy, and the Animals ROCK Cubster FO.

Joecolorado: (April 22, 2010 9:52am)

Pipe-I am not getting down on you,bekleive me I feel your pain,but the horse has bolted and the door is now shut,its time for LOs like yopurself to start complaining to your superiors about shoddy workmanship and to start reporting appraisers that do not meet the standards.Ethical appraisers are getting shut out of it as we dont get to review anymore,so you are our only hope of getting bad appraisers out of the system and by you complaining to your bosses,the system will eventually learn that there is a price to pay for cheapness.

Joecolorado: (April 22, 2010 9:48am)

Pipe-Sorry,we arent qualified to verify permits as we mostly are not qualified engineers,BUT even so,the appraisal information you supplied intimated an awful report,hopefully the State licensing authorities will be able to help the appraiser understand the error of their ways after you report him/her.And its not us that is forcing you to do the review...its the new and improved system,but why didnt your U/Writer pick up those errors?But dont blame ethical appraisers for hvcc or amcs,blame the guys that were"working"giving everybody what they thought they wanted,the guys that dont work in this profession anymore.Ethical Appraises are in a worse position than you as we ethical guys dont get a look in to do those appraisals as the amcs are giving all of the work to cheap ass form fillers.You need to complain to YOUR bosses as THEY are the ones instructing the amcs that use cheap ass form fillers in the first place.

loanlady: (April 22, 2010 9:46am)

I mean did you, in the last week announce a Jeremy F. seminar that is scheduled for 10AM today. If anyone has the link, please post it. Thanks

DLONG: (April 22, 2010 9:45am)

caltex never run a 64 bit browser there is no benifit to it only issues like you are running into. I have a 64 bit system as well never run the 64 bit I.E. like i said does nothing but cause problems like that.

loanlady: (April 22, 2010 9:42am)

Did you guys mention a Jeremy Forcier webinar today? If so please post the link. Thx

real appraiser: (April 22, 2010 9:41am)

Pipe:I am not sure what you are trying to say. The review work has been taken away from us. Before HVCC i did reviews and sent bad ones to the state. Now I never see an appraisal for review because they are done by reviewers for the AMCs (loosely said-as they are NOT appraisers) and they do not turn in bad appraisals. I think because more bad appraisers means more appraisals ordered on the same property= more money for AMC'c. If you are blaming us, not our fault, if you say death to AMC's because of this crap- I agree with you. Not sure exactly which way you meant it. I have zoning for each city in may area, but I have seen wrong zoning alot before HVCC. This is why everyone needs to fight HVCC, everyone has to work harder and pay more because of it. I wish I could mass email homeowners about how they are getting screwed, this would make the politicians listen, only 2000 appraisers (avg)per state do not make a difference in polls and they know it.

bmcknight: (April 22, 2010 9:37am)

Good job, guys. Looked like a normal married couple to me. Thanks for yesterday.

Pipe: (April 22, 2010 9:28am)

This is what AMS'c breed. Me a lowly LO has to rip apart a certifies appraisers????? report. For all you appraisers out there, thanks for forcing me to do my own reviews of this garbage. I am willing to bet most of you do not know where to verify permits. DEATH to AMC'S

caltex: (April 22, 2010 9:27am)

real appraiser. Thank you. It told me what my problem is since I have 64 bit. "To use Flash Player to view Flash content on a 64-bit operating system, you must run a 32-bit browser. For details on setting this up for Windows see Microsoft Help & Support.

Pipe: (April 22, 2010 9:25am)

S Concerning 29120 N 86th Street: The current zoning is R-43, (minimum 1 acre lot) not 0142 as reported in the appraisal. Home has a septic system not sewer as reported. Street is not paved as reported in the appraisal. Appraiser did not address the new cabinets, new wood windows etc. over $50,000.00 was spent on remodel since purchase. Home has an inground pool and inground spa (spa was not addressed in the appraisal) Appraisal comp 1 is a 2380 sqft home with a non permitted sunroom (enclosed patio), The appraiser reported the home as 3095 sqft with a covered patio. The appraisal should not have included the non permitted sun room in the total livable area. Appraisal comp 2 has no updating per MLS. Considering the subject has over $50,000.00 in recent remodeling, an adjustment should have been made. Appraisal comp 4 & 5 are located in a different market. Both are tract homes built by a production home builder located in subdivisions without horse privileges.

Love The Jungle!: (April 22, 2010 9:21am)

The monday morning fax webinar yesterday was fantastic! Where have you guys been hidding the animals! I'm loving the jungle!

DLONG: (April 22, 2010 9:20am)

OK THIS IS IN CAPS BECUASE YOU ALL NEED TO KNOW THIS... WHAT EVER YOU DO DO NOT DO LOANS WITH FREEDOM MORTGAGE !!! EVER LET IT DIE BEFORE YOU SEND IT THERE. THIS IS SO IMPORTANT PEOPLE KNOW THIS I AM ACCTUALLY POSTING ON THIS DISCUSSION, KNOWING FULL WELL I WILL RECIEVER 10000 EMAILS OVER THE NEXT 5 DAYS ON UPDATES. WHAT EVER YOU DO AVOID FREEDOM MORTGAGE!!!! I WOULD GO INTO DETAIL WHY BUT I ONLY HAVE 1000 CHARACTER LIMIT ON THIS POST.

Lucy: (April 22, 2010 9:17am)

What happens if your audit is currently under review by HUD because it was due before the extension was granted? Will they complete the process on it?

J Sanson: (April 22, 2010 9:10am)

The healing process will not begin that easy, because many of these loans have seconds where the GOVT is allowing the banks who received risk interest, tax payer bailouts, and debt write towns to take you to court and get a garnishment judgment against you.

sbutehorn: (April 22, 2010 9:08am)

Frank and Brian your video today stating Fannie and Freddie will allow you to repurchase after 2 years if you had a short sale with no lates is deceiving. When it comes to purchasing a home it is prudent to address the lender overlays. Whether you had late payments or not lenders currently require you to wait 4 years regardless of what Fannie and Freddie say.

real appraiser: (April 22, 2010 9:04am)

caltex: Do not know what you have or do not have, go to bottom of this page and click on "get adobe flash player", see if this helps

caltex: (April 22, 2010 8:49am)

Help this female blond out. I cannot listen to video, because it says, I have no flash plug in installed. Where do I go to download this plug in.

Maria Michelle: (April 22, 2010 8:48am)

I just started the Facebook fan pages you guys have been teaching lately. In 2 weeks, I have never had so many agents contacting me or had so much to offer them! You guys are a real breath of fresh air from all the stuffy shirt types. Thanks for who you are!

21 years and counting: (April 22, 2010 8:47am)

Lenders will inplement more stringent broker approval guidelines on TPO's than HUD to sell them FHA business. In addition to potentially more stringent risk analysis of a TPO's business. David Steven's should be taken at his word. Those lenders with high defaults risk losing their Mortgagee's with HUD. I wouldn't anticipate they will take undue risk in that regard. I would anticipate networth requirements for TPO's that currently aren't FHA approved to be $100k + to sell FHA loans. I guess we will see in the coming months

Mur: (April 22, 2010 8:41am)

Thanks for the intro to the Animals in FL and "on the web"! Great content and info. Thanks for your daily kick start too - Brian, think you need more caffeine!

Just Wonderin: (April 22, 2010 8:38am)

Cubby, who's schill are you? Im thinking you must be getting paid to look this foolish.

21 years and counting: (April 22, 2010 8:37am)

Now that I'm over being distracted. When HUD first announced their rules change last year there were many, brokers/Wholesale AE's, that were suggesting what boon this would be for those not currently approved to originate FHA loans. I simply laughed. The only potential boon to wholesale will not come from brokers who aren't currently FHA approved but possibly from those mortgage bankers who won't be able to meet the new net worth requirements over time. They will either be forced to merge their companies or broker their FHA business.

Broker in RIC: (April 22, 2010 8:34am)

mlsgtj: you beat me to it with correcting Rspreen's "verbage" comment. classic reply -- teach the teacher, baby!

21 years and counting: (April 22, 2010 8:32am)

The "you" at the end of my comment that should have been "your" was intentionally left to give the gramar and spell check something to do! lol

itsallgood: (April 22, 2010 8:32am)

Cubby, wow dude if you could close as many loans as comments you would be a rock star. So tell me how you come up with all this brain busting crack cocaine waste of puke. Opinions are like aholes everybody has one. Cubby the water cooler is calling. Get a life! Frank and Brian you guys are off the charts. Animals Rock!!

Maximus : (April 22, 2010 8:30am)

These guys have a great show. Another great show is the online money show.

21 years and counting: (April 22, 2010 8:29am)

Frank/Brian, great job. Enjoy your updates. To bad some on here don't understand Free or Free Will. Wish they would look it up and if they don't find value in your product "That's Free", or any affiliates you choose to promote, then don't participate and distract others that do. Lastly, I'm ok with grammatical and spelling errors. I'm looking for content, thoughts and ideas to grow my business. Especially when that information IS FREE! Thanks for putting in the hours and cost I know it takes to publish you daily videos!

Broker in RIC: (April 22, 2010 8:26am)

great content today guys -- thanks

real appraiser: (April 22, 2010 8:22am)

Joecolorado: I think cubby is referencing the 442 form that has not been used in 5 years. your reference to the cutlass is probably more current. Maybe cubbys bitter since he has'nt closed a deal since either one of those 442's were current. I think he sounds a little bitter. thanks for forwarding the survey.

Anonymous: (April 22, 2010 8:19am)

If Lender's are going to be responsible for enforcing ALL FHA rules for TPO's except for net worth audit, assuming that the W2 requirement is not being done away with, then how are 1099 LO's going to submit loans to lenders?

Fossil: (April 22, 2010 8:13am)

Cubby (T.O.): With all those states you're approved in, I suggest being careful closing any loans as someone might actually make money on your efforts. You're obviously too bright and virtuous to engage with this group of dim, profit seeking "clowns", so perhaps it is you who has an agenda. Have a nice day.

Joecolorado: (April 22, 2010 8:08am)

Big Daddy-the links was suggested by Real Appraiser I just forwarded it on.

Big Daddy: (April 22, 2010 8:07am)

Why do I feel I need to take a shower after reading blogs from Cubby- what a downer! Thanks for the link JoeColorado and if anyone can take a few extra minutes today, email your comments to your Senators on HVCC.; Senator Dodd is pushing his Consumer Protection Bill thru now. The Republicans are getting onboard now so this is your last chance to get some kind of amendment (ie:HVCC sunset).

Joecolorado: (April 22, 2010 8:05am)

Dont use amcs,never have never will.ROI was cited by you out of context so its kinda hard to hone in on what you meant but as I am not up on webspeak so I just needed a focus on what you meant.I also dont know what you mean by 442-I am asssuming you refer to a Cutlass, a great American car.

idofha: (April 22, 2010 8:04am)

@ Frank... huh... since I don't do Conventional I did not even think about that. I can do conventional but all my buyers don't even have the 3.5% down. Soooooo I hate it when I am proven wwwrrrroooonnnnggggg from you and my staff!

Kurt Likes This: (April 22, 2010 8:02am)

Diane, yes! the problem with polish is, you end up with a polished turd. Love content over polish!

Frank Garay: (April 22, 2010 7:58am)

We said FHA is 3 years. FNMA is 2 if you had no lates.

Diane Here: (April 22, 2010 7:57am)

I'll take "content" over polish every day of the week. Keep Rock'n the house guys! Love the Animals!!

IDOFHA: (April 22, 2010 7:55am)

I think the info on short sale/foreclosure was wrong (not 2 years as Frank said) . look at this mortgagee letter. I also think foreclosures have been revised to 4 years. But I can't find that mortgagee letter. Mortgagee Letter 09-52 Summary – Guidance on Borrowers in default at the time of Short Sale Borrowers in default on their mortgage at the time of the short sale (or pre- foreclosure sale) are not eligible for a new FHA-insured mortgage for three years from the date of the pre-foreclosure sale. Lenders may make exceptions to this rule under certain circumstances. (BUT NONE DO, OR WILL) Reference: For detailed information, see “Short Sales”, at 4155.1 4.C.2.l.

Liv'n and Lov'n It: (April 22, 2010 7:53am)

I agree with you Brent. You know what it is, people get angry when you take away their reason to fail. When they find out it's their lack of smart actions and not "the market", when we are shown exactly how to do it, then don't do it, then it's our own fault for failure and it's too painful for some to think of that. That's ok, somebody has to change my tires when I need new ones.......

LetMeInNow: (April 22, 2010 7:49am)

I appreciate you guys! Enjoy waking up to you guys everyday!!! Thank you!

rrobo1: (April 22, 2010 7:49am)

Brian/Frank you guys do a great job, I look forward to you update as a way to start my day. On Saturday I took the NMLS test and passed (first try!). At first I really could not see any value in having a national test but now that I have made it to the other side of the process I think it will help bring our profession to a higher level. Mortgage educators has a good web site for practice test it cost $50 bucks but was well worth the money

Joecolorado: (April 22, 2010 7:48am)

Nope dont know what ROI means sorry.I may be a loser but I can change,hopefully you will find a way to do the same with your negative attitude 'cos man its not good at all!!!!

Cubby: (April 22, 2010 7:44am)

Too bad you don't know how to calculate ROI. Do you know what that means? Gotta love one comment that sets off a bunch of losers. LOL

caltex: (April 22, 2010 7:42am)

How do i install a flash program. your screen says I do not have a flash version installed??

Joecolorado: (April 22, 2010 7:42am)

Frank/Brian-keep on doing what you consider to be non-work,I know that I couldnt do what you both do and I for one am grateful for you doing that as I am sure many others are also.Chill out guys,glean the information you want to use from information on this site as its better than rejecting it.You are getting angry at the wrong people so try taking that poll to vent your anger.(http://www.workingre.com/workingre)

Brent: (April 22, 2010 7:40am)

I'm no paid shill for the Marketing Animals, I don't have an affiliate agreement with them. I'm just a guy who found a lot of value in the product WAY back when it was mostly about weekly video tips and call capture. So Frank, I'll stand up for them! @Pipette: why the hate for Carl's company? the ideas he brings together are worth a fortune if you implement them. i don't know what kind of support you expect, shy of them doing all the work for you. i've always found the marketing ideas to be well-explained and easy enough to implement. Yes, the video footage is often raw, but "thar's gold in them thar hills!" For the content, I'll take that over fancy flash objects all day long. @Cubby: WHO CARES if Frank and Brian get some juice for referring people to the Animals? Being a salesman (which we all are as LOs) is nothing more than bringing the right solution to meet a need. At the end of the year, they'll still be thriving in this business while you're working at Burger King.

Larry L: (April 22, 2010 7:40am)

Back when the proposed fha rule change regarding the elimination of loan correspondants was proposed there was much discussion on how this would kick the door open to many mortgage brokerage firms to originate FHA loans all to the benefit of the consumer. Here is a question, could the change not have the exact opposite effect? With FHA more clearly stating that their dealings will with the sponsor and not the TPO I can see banking policies getting more strigent than historical fha loan correspondant requirements!

Keith n CA: (April 22, 2010 7:38am)

I would like to thank Frank and Brian for introducing me and my partner to the animals. They have given us the best learning experience I have had in my 20 years in the lending business. I have been to many (too many!) seminars and trainings, but the animals tops them all. The feeling of being part of a family and the mutual positive attitudes is very uplifting, especially in our current times.

What's your problem?: (April 22, 2010 7:36am)

Nobody asked you to buy a thing Cubby. So what if these guys found a way to make some cash. Doesn't cost you anything. What's you're problem? You sound a little jealous to me. Success always breeds contempt. That sounds like you to me.

Joecolorado: (April 22, 2010 7:35am)

people like Brian and Frank support us with our endeavors,why should there be a problem supporting them in theirs.If the marketing guru isnt what you want then dont use them....pretty simple....another way of making sure that you are not affected/taken in by them(if you consider it a scam)is just say no...but just because it doesnt fit your methodology,dont badmouth it for everyone else as it may help them in their marketing endeavors.Everyone may not be as market aware as you.Its FREE for goodness sake and if it helps one person market their business(for free)in a better way than they are doing currently then it may be worth while.....jeez louise live and let live....

RussTheLoanDude: (April 22, 2010 7:31am)

I was on a webinar the other day and the guy said, "you have to write small checks to cash big ones". (I can't remember who said it, not sure if it was the animals) Guys, we are in a business, not a job! Those LOs and Agents that don't understand that, are getting left behind. I'm glad everybody doesn't get that part. It's so much easier for those of us that do.

Fossil: (April 22, 2010 7:29am)

Cubby, you're unsophistocated, bitter and wrong. I HOPE TBWS makes money on the things they promote. Don't like the concepts promoted, don't buy them. Don't like the Daily, dont watch it. Unless you want to pay a subscription fee to the Daily, shut your hole. I've followed tbws for years and I suspect Frank and Brian work harder than you have in your entire career. You should study for your safeact test instead of flinging dung at such a good thing.

thank you joe colorado-real appraiser: (April 22, 2010 7:28am)

http://www.workingre.com/workingre/

Mark: (April 22, 2010 7:27am)

I received this directly fron HUD - I wanted something directly from them to confirm: Dear FHA-approved Loan Correspondent: If you have not received any notice (e.g., Notice of Violation, Notice of Administrative Action, etc.) from the Department's Mortgagee Review Board Secretary and are in good standing, which means you have completed the online certification and electronically submitted the annual renewal fee for your institution's 2009 fiscal year end, you are now compliant with FHA's annual recertification requirements for fiscal year 2009. The submission of an annual audited financial statement is not required.

Actually Doing Something: (April 22, 2010 7:26am)

Anybody says there is no support with Carl and his group are crazy! They have 3 training webinars every M-F at noon for nothing but Q&As. I was on one yesterday, holy cow great info! I also called in a number yesterday and made an appointment to speak with a one on one coach today in about 45 minutes. I have never had daily live training. I drank the Kool-aide, and I like it! I guess some are afraid to pick up the phone...

Joecolorado: (April 22, 2010 7:24am)

Real Appraiser-Thanks for the web site for the survey, GUYS try and take this survey as it takes two minutes and its 50 questions...take it as it will help appraisers. Thanks again Real I appreciate it.

Cheryljns: (April 22, 2010 7:19am)

And please take the apostrophe out of the word "ads" .... http://www.grammarbook.com/punctuation/apostro.asp

Cubby: (April 22, 2010 7:14am)

Our hosts are getting at least 11.00+ when you sign up for Follow My Clients and I am guessing 50.00 plus for the Facebook and 150.00 a month if you go along with their " being part of a group is nice" thread the Animals promote. Burnt out and failed LOs always try to sell coaching, why should Brian & Frank be different? Why work?

Loving the Mtg Biz: (April 22, 2010 7:10am)

I attended one of Carl's online seminars about a year ago and found it very informative. Some of the services they promote are a little overpriced, but he gives a lot of good usable info for FREE. He is very honest about his lack of polish, but I think that makes him REAL. A lot of brokers can relate to his style. Cannot speak to his support because I've never joined, but I walked away thinking I needed to broaden my horizons a little. It was definitely a good investment of my time.

Animal fan: (April 22, 2010 7:06am)

Their stuff is killer. Carl is the most innovated marketer i've ever known. i hope no one buys his stuff cause it's more for me. :)

Pipette: (April 22, 2010 7:06am)

The Mortgage Marketing Animals are the most disorganized useless organization I have ever encountered. I don't think it is a scam however poor recorded videos and not much support does not work.

real appraiser: (April 22, 2010 7:01am)

Appraisers must goto http://www.workingre.com/workingre/ and answer the survey, THIS IS HUGE FOR US. ADD questions like-Will the implementaion of the INSTITUTE or IVPI make a difference? pass it forward to everyone you know in the field

Loving the Mtg Biz: (April 22, 2010 6:47am)

Mortgage Lenders are going to become even more selective about the brokers they are going to do business with because FHA is now making them responsible for the broker's actions. Lenders are going to develop their own net worth requirements to be sure.

Loving the Mtg Biz: (April 22, 2010 6:44am)

Frank and Brian... It's even better with FHA for short sales without late payments. Those folks are eligible to purchase immediately.

SergeiSanchez: (April 22, 2010 6:43am)

Brian should hopefully be more on his way to getting his wish that banks will step up to the plate and get the foreclosure process moving along faster. BofA is slated to get up to 45,000/month (That's right:PER MONTH!) moving along according to the Irvine Housing Blog post Here: http://www.irvinehousingblog.com/blog/comments/bank-of-america-to-increase-foreclosure-rate-by-600-in-2010/ And it does need to move forward. Clear out the clogs in the market; Another post highlights the financial obligation that people have to themselves & their families here: http://www.irvinehousingblog.com/ If more people simply realized they and their funds are manipulated by a criminal banking cartel, we would perhaps collectively make better decisions for ourselves.

Nuke 'em 'til the Glow and shoot 'em in the dark: (April 22, 2010 6:27am)

Brian you're right Just Rip the band-aid off and be done with the Foreclosure madness!

frankgaray: (April 22, 2010 6:20am)

Sorry for the "eligible" typo everyone... stupid editing software doesn't have spell check and I missed it! I blame Brian.

frankgaray: (April 22, 2010 6:19am)

Good point Larry. Keep in mind, it's now the mortgagee's responsibility to ensure the the TPO meets FHA guidelines, essentially completely, with the exception of the audit. So I don't see a wave of new TPO's doing FHA loans.

Larry L: (April 22, 2010 5:39am)

It will be interesting to see how the sponsoring mortgagee's apply this new fha guidance. On the surface I can see most brokers celebrating the new provision which does not require a financial audit. Although, given the fact that the net worth requirements have been raised on the sponsor it would imply that fha may inclined chase down the sponsoring lender more often on "bad" loans. And we know that everything trickles down hill so I would think that the sponsors, if pursued by fha will subsequently pursue the broker. If they require little net worth of the broker they will thus find "empty pockets" and have to bear the brunt themselves. Thus it will be interesting to see how, like the new GFE and like HVCC, what position each sponsor will take. I foresee net worth requirments established as banking policy and they could be higher than what we are used to.

iamyourloanofficer: (April 22, 2010 5:37am)

The best part about eligibility as a first time home buyer they can get another grant and not put any money in the transaction!

mlsgtj: (April 22, 2010 5:28am)

RSpreen: (April 22, 2010 4:32am) You spelled ELIGABLE wrong, it's ELIGIBLE :) I'm a stickler for verbage man...Rock on. Verbage? Mr stickler, you may want to check your own verbiage...

Billybob: (April 22, 2010 5:25am)

Great haircut

stunad: (April 22, 2010 5:01am)

RESPA VIOLATION Where does one go to report a RESPA violation and an HVCC violation? HUD, Attorney General, Banking Department? I've had enough of these corrupt Realtors and Mtg Bankers?

fl appraiser: (April 22, 2010 4:50am)

What if, just imagine what if, the same thing that happened to appraisers (NO CLIENT COMMUNICATION) happened to LO's and Realtors? Don't say it can't happen!!! Sure, appraisers as a group are suffering because of those idiot appraisers that did overvalue properties AT THE REQUEST OF LO's AND REALTORS. Those of us appraisers that had grown a pair, as well as a backbone and knew how to say NO to those LO's and Realtors got NO reward. We have been thrown into the pit of doom with the other no good idiot appraisers who by this time have left the business. My contention is that NO APPRAISER got up one morning and make the conscious decision to start overvaluing property that day. They were asked, just as I was numerous times by LO's and Realtors to "go along with this deal and there will be plenty of work for you". I said NO, and don't ever call me again with any such proposal. How is an appraiser suppose to get new clients when we can't communicate with them? And I don't mean AMC's!

PamSRealtor: (April 22, 2010 4:42am)

Great stuff, guys! The "clutching the pearls" thing was hysterical. All kidding aside, some very good information that I am passing on today. Appreciate it!!

RSpreen: (April 22, 2010 4:32am)

You spelled ELIGABLE wrong, it's ELIGIBLE :) I'm a stickler for verbage man...Rock on.

Anonymous: (April 22, 2010 4:12am)

What's the latest on HVCC and how does everyone feel about the new GFE now that we've been using them for a while. I find it totally ridiculous and embarassing to try to explaim them to borrowers.

Anonymous: (April 22, 2010 4:09am)

I agree, I think we just need to feel the pain, the houses sitting that have been just left to rot are losing more value then they would have if we got to sell them when they left. The longer they sit empty, the less they are worth, these houses have NEVER been on the market....even as a short sale. LETS get something we can SELL!!!!

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