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

CAHighDesertAppraiser: (November 06, 2009 8:05pm)

Brian TBWS...hey im single too!?? If your ever down in SoCal.??? ummm.... im just sayin.... Luv u guys!

Rate Erection: (November 06, 2009 6:21pm)

I had Erectile Dysfunction until I got Rate Alert.

vorpal bunny: (November 06, 2009 4:56pm)

Thanks! Nothing shows on the WhiteHouse website....

NAMBSTER: (November 06, 2009 4:16pm)

vorpal bunny Dear NAMB Member, Today, President Obama signed into law legislation extending and expanding the $8,000 first-time homebuyer tax credit. NAMB strongly advocated for an extension and expansion of the homebuyer tax credit, and considers this a victory for consumers, the housing industry, and NAMB. Under the legislation, homebuyers will qualify for the tax credit until April 30, 2010* (as long as they have entered a binding contract), and have an additional 2 months (until June 30, 2010*) to close the transaction. Borrower income limits have also been increased to $125,000 for individuals and $225,000 for couples (up from $75,000 and $150,000 respectively under the current program). The legislation also includes a tax credit not exceeding $6,500 for move up buyers who have owned their current homes for at least 5 years.

vorpal bunny: (November 06, 2009 4:04pm)

Can't find anywhere that states Obama signed the unemployment extension and the FTHB tax credit extension and expansion. Anyone have a clue?

Starving Appraiser: (November 06, 2009 3:44pm)

WAY TO GO DAD W/A CLUE - (good one App). Once again you contribute productive remarks and actions. You DA MAN!!! F & B, Clue should get Rate Alert FREE OF CHARGE for being such a positive influence on this board!!!

brian tbws: (November 06, 2009 3:29pm)

valuequestor: thats FUNNY! Thanks gettin it.

Big Mike: (November 06, 2009 2:42pm)

Death to Cuomo! Now the little _ _ _ _ _ _ _ (man who's parent were married) is sticking his nose in it again with a law suit against Intel. I guess he has never heard of the United States Atty. Gen. The guy that that has the power to go after Intel. Cuomo is just jumping on after Intel lost its' case with the Youareapeean Court, they are a joke, so I made a joke. I bet the U.S. Attny. Gen. is just about ready to take Cuomo for a long walk off a short pier. Lets all hope he does.

Valuequestor: (November 06, 2009 1:56pm)

Clulessdad: You magnificent basterd! Great idea....I see no reason to bother Cuomo at this point. We can only hope he slowly fades away. I've always felt that the time and effort would be best spent would be in front of the House Committee on Financial Services with a big group of media types. Lets see if ahhh..Barney can handle some tough questions from professionals. We have a better chance of getting media coverage or possibly getting through to members of the FSC and get some allys. Lets get'em boys.

Valuequestor: (November 06, 2009 1:42pm)

Frank & Brian: You guys just do what you think is right concerning your show. I'm never disappointed. And about RateAlert.......all I know is my teeth have never been white-er and ma garden is spit'n out 50 pound tomatoes.

App: (November 06, 2009 1:38pm)

Nice work cluelessdad! It gets me that no one in Congress will listen to you unless you're from their district and their rep. I know - I've tried. Kind of limits our actions to those that post here that are in those congressional sympathizers districts. Thanks for taking the initiative dad with a clue :^)

Clulessdad: (November 06, 2009 12:55pm)

Frank-I just spoke with Rep Miller's office and gave them some topline info on you guys. They gave me the staffer's name who is working on the HFSC, so this is someone you may want to contact. They asked me NOT to post it on a blog, but I will email it you you.

Clulessdad: (November 06, 2009 12:31pm)

Maybe we should ask Gary Miller from the 42nd of CA, and who is championing the HVCC recall, what his thoughts would be to provide more visibility to the problem. Heck-he may even join you. BTW-he is my rep if you need me to contact him.

CornerstoneKathy: (November 06, 2009 12:28pm)

FrankTBWS I think you should "TRY" to have a man to man sit down w someone from NAR, the head of the NY state appraisers board and NAMB with the petition to Cuomo ..if he refuses or bails then call out the troops and he should know that we could really stink up Albany..since he started it he could end it..that simple ..we are still taking a risk waiting on Congress and now that this show has made me a conspiracy theorist ..I am more afraid of what the "new" experts will think the solution to our problem is. Let me know we have some contacts

Rate Alert Rocks: (November 06, 2009 12:04pm)

I was out clubbing last night and while the outcome looked dismal as soon as I brought up rate alert I got lucky! Thanks TBWS you make my wallet fatter and my johnson happier

soldsum: (November 06, 2009 11:18am)

Heres a tip for thinkbigworksmall, i think i'd forward your video content more often if i could select contacts from my yahoo account. I usually forward your broadcast from my email which may not be the most effective way to do it but i can select contacts more easily. Have a good weekend.

License underwriters: (November 06, 2009 11:07am)

Simple willis flagstar is a joke. The numbers say it all. Poorly run. License underwriters simple.

Tahoe Mortgage Guy: (November 06, 2009 10:56am)

I don't even know what a lert is, much less know how to rate one. Besides, being a rating agency can cause bubbles that could wipe out the global economy and de-value the dollar enought to make rates rise and put us out of business. Listen up mortgage peoples, stay away from rating lerts and learn the new GFE before it's too late!

Nor Cal Mortgage Broker: (November 06, 2009 10:56am)

Maybe if HUD subscribed to Rate Alert they could create the perfect Good Faith Estimate! How about sending them a free trial membership and see if it works?

Nor Cal Mortgage Broker: (November 06, 2009 10:53am)

The new Good Faith Estimate format on the HUD Website doesn't show signature places, but if you look at the old GFE samples in the HUD books, they didn't either. It is up to our software companies to add the signature lines. Frank & Brian, I posted back at the end of August the link to the HUD feedback website and encouraged everyone to report their feedback then. They had an open comment period for several months and that was the time for brokers to be heard. They ignored my 2 cents, but maybe if more would have responded, they would have listened. It's kind of late now!!

Mommy: (November 06, 2009 10:25am)

You guys are hammered! I like it. Please sober up by Monday.

Look in the Mirror: (November 06, 2009 10:05am)

Frank, I would pick going to DC in January, with media, etc and asking to meet with Barney Frank's committee. Maybe ask the discussion be on CSpan so average folk can hear the real story!!

Tales Sips: (November 06, 2009 9:56am)

Brian... great call on the Sales Tips!! I can't handle them either. It's not you, Frank, its the rhetoric of sales books content.

Starving Appraiser: (November 06, 2009 9:37am)

COME ON POSTERS, Give Frank some feed back on your ideas of how to proceed with the petition, as he requested. THANKS FOR THE DELETION!!! Rate Alert success stories are the hit of the day!!! Let's continue to keep it clean.

App: (November 06, 2009 9:31am)

BTW, you guys are very funny, I wouldn't mind tipping a few back with you lol. Got a DWI while driving home and showed the cop rate alert and he parked my car and drove me home! - thanks rate alert!!

EWS3: (November 06, 2009 9:29am)

This is the best start to my day EVER!! I believe you guys should kick in Cuomo's door before he becomes Gov. of NY.. Yes New Yorkers are really that stupid!

Danny Flucke - NaMoEx.com: (November 06, 2009 9:29am)

Since I got RateAlert - I don't need Viagra anymore....

App: (November 06, 2009 9:27am)

As far as where to deliver it (HVCC petition)- where do you think you'll get the most media coverage? I believe there's some from all our groups that want to be there too for delivery or just general protesting. I think Congress is out of session for 11/11-11/23 and then there's Thanksgiving, so will they even be back in session before 2010? Cuomo has a way of slipping out before he has to meet anyone head on from the mortgage industry that isn't supporting his crooked agenda. Before the 11th the choice might have been easier. You're the guys with the plan and we're behind you - so you need to make up your mind what you're going to do as the trusted holders of over 120k concerned and personally adversely affected signers. Find out where the offending parties are going to be & schedule? You are delivering copies to the bank regulators too, correct? FHFA, the GSE's, FDIC etc. Whatever you decide it should be far reaching and have effectively, local & national coverage. Just some suggests

Dave D: (November 06, 2009 9:25am)

You guys are funny .... besides the great content, your delivery is entertaining ... you are both very real and likeable.

Frank Garay: (November 06, 2009 9:09am)

Deleted it. Yeah we should have a more traditional "forum" style blog in about a week and a half or so. You will have to create a free account to post and you will have to confirm your email address to get it. You'll be about to upload your picture and all that good stuff. I'm looking forward to it as well. This will weed out the idiots and allow us to ban them if they find there way in. Thanks for your patience guys.

TheFyouSay : (November 06, 2009 9:04am)

Well Mozillo is the most orange man on the planet but your punishment is extreme. We don't need PITA on here blowing us up.

Starving Appraiser: (November 06, 2009 9:01am)

PLEASE, start the filtering SOON!!!

Starving Appraiser: (November 06, 2009 8:59am)

News just reported Fannie posted $19B loss due to bad loans.... go figure!!!

Frank: (November 06, 2009 8:54am)

SOURCE1DAN - I know! What the heck? Why put that in there? I think it's just to keep the cost to the tax payers down, but you are SO right - it's stupid. SCMTGMAKER - Nah... you gotta close before you get any $$$.

scmtgmaker: (November 06, 2009 8:49am)

Does anyone know if the new tax credit for currrent homeowners will be available for buyers closing now?? Or do they have to close after the deadline (Nov 30) of the current one ?? Was not sure ??

Source1dan: (November 06, 2009 8:48am)

The best morning show yet! One big problem with the tax credit extension is that a current homeowener has to have owned their home for at least 5 years. The people who actually need the help are the ones who purchase in the within the last 5 years. they are the ones who are short or upside down on their equity. As usual the government got it wrong. I have a call into my senator to explain it to me. Haha I'll be waiting by the phone.

Frank: (November 06, 2009 8:47am)

Rondon - Of course. Duh.

Starving Appraiser: (November 06, 2009 8:21am)

Since resolving my "video viewing issues" earlier this week, I've just watched the new petition video and I say "Job Well Done" guys. It hits on the issues I mentioned in a previous post. Can we say "We love you, You love us, You're on your way to see Barney"!!! "With a great big petition and a kick from you & me, stop destroying our industry".

Atlanta LO: (November 06, 2009 8:18am)

Greg the Mortgage Guy-Funny you mentioned "It's a Wonderful Life" and Mr. Potter. Checkout my main page @ www.mid-atlanticmortgage.com.

Clulessdad: (November 06, 2009 8:16am)

MtgBrokerGirl-I will read the intent of the new GFE, provide it in compliance to the Borrower, and explain it to them. I also will explain to them that it is the government trying to simplify the mortgage process. Everyone will understand that it is a mess, just based on the number of pages vs the last one. I will tell them the truth. Yes we get YSP, but the banks get something called SRP, which they don't have to disclose. I will have the borrower focus on rate, points and fees and provide the old GFE and a disclaimer. I don't see the borrowers caring about extra compensation to me, if my rate, points and fees are lower than the banks. And if they squawk, have them go to the bank and get their unlicensed quota (they are in my area) order taker to do their loan. And then try to get a hold of them 24/7 and have them help correct a credit, title, or RE problem. I give my borrowers a choice.

Rondon: (November 06, 2009 8:12am)

Could Rate Alert help me with my gas problem?

ALApprazer: (November 06, 2009 8:04am)

Thanks for the laughs and smiles guys. I bet you guys know the why you do what you do. Rate Alert.

Starving Appraiser: (November 06, 2009 7:58am)

Need to emphasize HVCC is hindering "Housing Recovery" & adding to the "Jobless Rate". These points should ring home w/the politicians. Apprsrs, lenders, agents, etc., are leaving the industry as a result. And don't forget the ill effects it's having on the consumers and economy as a whole.

Witchhunt: (November 06, 2009 7:56am)

You would like to know how we feel about the new GFE b/c its tied to the passage of a bill that creates a moratorium on HVCC? I haven't eaten in 2 months b/c of HVCC its a pretty easy question to answer.

Starving Appraiser: (November 06, 2009 7:54am)

I say present the petition to B Frank. HR 3126 is to KILL HVCC, and originally (I Believe) petition was/is promoting 18mnth moritorium. LET'S support the KILL idea instead of a DELAY TACTIC. KILL HVCC, that is, not people. >>OFF TOPIC-Proposed post filtering should include those post(ers) who have promoted violence &/or encouraged suicide, and references to ones sexual orientation, "private parts", & small rodents related to these personal activities >>> "IMO" <<< Heard discussions are taking place to stop TBTF & break up those banks.

QTRHRSE: (November 06, 2009 7:54am)

Many of Countrywide's brokers in Colorado are under investigation by the FBI and the Attorney General also. Nice!

MortgageBrokerGal: (November 06, 2009 7:53am)

Clulessdad: These new RESPA rules are brutal! It takes 45 pages to explain it to mortgage professionals and then provides a GFE that doesn't state the bottom line (which is what most people want) which is: How much money do I have to bring to closing? and What is my monthly payment going to be? Absolutely insane!

Frank Garay: (November 06, 2009 7:45am)

Clulessdad - I love it.

Orlando Broker: (November 06, 2009 7:39am)

I love you guys.. you are my idol

Clulessdad: (November 06, 2009 7:37am)

Please be advised that I have tried to be as accurate as possible with the numbers listed, but until your loan is locked, the final rate and terms will not be finalized. With all the various new fees instituted by the GSE’s, we cannot give that final estimate until the appraised value is determined. The fees on this new estimate are high and should not be reflective of your final GFE. I have included it with this loan package as mandated by the Federal Reserve on or after Jan 1, 2010. I will explain it to you in detail, but I want to let you know it is very confusing, even for me. As always, I will provide the previous GFE, which outlines all the detailed costs of your transaction and your total monthly housing payment. Thank you for understanding. ___________________________________ Date___________ <<Borrower First Name>><<Borrower Last Name>> ___________________________________ Date___________ <<Co-Borrower First Name>><<Co-Borrower Last Name>>

Broker in RIC: (November 06, 2009 7:36am)

Awesome Friday show guys. Had me cracking up!

Clulessdad: (November 06, 2009 7:36am)

I think the new GFE is so confusing that I have already created my own custom form in Point that I will deliver to the Borrower along with the old GFE. NOTICE TO BORROWER PLEASE READ In an attempt to destroy the mortgage broker industry and provide fewer choices to consumers and provide additional confusion to the mortgage process, the Federal Reserve has implemented a new Good Faith Estimate that is required to be given to all borrowers within 3 days of application. 1) It is very confusing and lumps too many itemized costs into a single number 2) It does not give you a true picture of your final costs, mortgage payment, and funds you will need to close your loan. It doesn’t even have a place for your signature. Cont

Frank Garay: (November 06, 2009 7:30am)

We're in a pickle with respect to HVCC right now. Our intent was (and I think still is) to go make a stink with the media on Cuomo's door step this month, but now we have this amendment in 3126 to consider. So do we go jump up and down at Cuomo's place? Or do we go talk to our dear friend Barney Frank? What do you guys think would be the most effective use of our time? We are curious to hear from you. MortgageMan1964 - I "think" the HUD/RESPA deal is going forward for a January 1, 2010 release. I'm sure I don't have to tell you guys this, but that new GFE is an absolute disaster - what a joke. We're going to cover more on that this week, and provide a webinar on how to navigate it as well.

Greg the Mortgage Guy: (November 06, 2009 7:26am)

With regards to the Fannie Mae announcement I believe there is a realization that the housing industry will not be down forever. This is just another in a long line of strategic decisions designed to get rid of the small to medium sized operations and thus eliminating the competition, in favor of the “banks that are too big to fail.” If the smaller operations don’t start sticking up for themselves “we’ll end up being a bunch of Peter Baileys “working for the Potters of the world” ( It’s A Wonderful Life – Jimmy Stewart )

Starving Appraiser: (November 06, 2009 7:24am)

That should have been "SERIOUSLY"-didn't use Rate Alert sp check, shame on me. Thanks for the update Frank! What's the plan for the petition delivery/presentation? Any news on that front?

MortgageMan1964: (November 06, 2009 7:24am)

Does anyone know the lastest HUD/RESPA news about "required use"?? I seem to recall this new rule passed, but Builders thru a fit and forced the law into moratorium.

Mortgage This: (November 06, 2009 7:20am)

Brian, how can your kid be doing bad in math, I thought you already had rate alert.

Look in the Mirror: (November 06, 2009 7:11am)

How can you think the SEC hasn't done anything in that last 10 years? Didn't Martha Stewart get sent to prison? LOL

Frank Garay: (November 06, 2009 7:10am)

Doesn't look like there is any more activity on 3126 yet... these guys all go on recess form the 11th to the 23rd and then there is Thanksgiving after that, so, I don't know how much will get done on anything over the next few weeks.

Starving Appraiser: (November 06, 2009 7:06am)

Seriuosly now-anyone hear any news on HR 3126 progress?

Starving Appraiser: (November 06, 2009 7:04am)

GOT RATE ALERT-wind blew all the leaves to my neighbors yard!!! GOT RATE ALERT-mrtg co modified my mrtg, 50% princpl reductn @ 3.5%!!! GOT RATE ALERT-and 5 job offers in 3 days!!! GOT RATE ALERT-cc cos reduced my rates to 0% w/no min pymnt rqrd!!! GOT RATE ALERT-neighbors dogs stopped barking @ 5am!!! GOT RATE ALERT-no more anti-deprssn RX!!! GOT RATE ALERT-now 2-3 assgnmts per day!!! GOT RATE ALERT-IT'S A MIRACLE!!! I could do this all day!!! You guys are a HOOT!!!

AZ Linda: (November 06, 2009 7:03am)

I love you guys!

Frank Garay: (November 06, 2009 6:51am)

Thanks for all the comments everyone. NO, we weren't drunk or hitting the peace pipe. We recorded the show yesterday morning about 5am cause we had to go to an event, we were just having a good time. That's also why we didn't mention the tax credit. At the time we did the show it had only passed the Senate and was on it's way to the house. But we know we could count on you bloggers to fill in the gaps for us. At least the bloggers that have Rate Alert anyway.... Have a great weekend everybody.

MortgageAngel: (November 06, 2009 6:43am)

License Underwriters - Hammond Mortgage? Whatchutalkin about Willis? I worked for Hammond. It ran fine. What's your point?

Eddieinab: (November 06, 2009 6:38am)

so we should subscribe to Rate Alert, is that what you are tellin me?

thanks rate alert: (November 06, 2009 6:29am)

I was, can I say not performing well in the bedroom. But then I got rate alert. I have to just push the women away. They hang on me and beg me. WOW what an improvement. Thank You rate alert

kencuellar: (November 06, 2009 6:28am)

I'm no economy expert but I do try to stay informed. I love the way you always put things into perspective from the average guy on the street stand point. Thanks for everything you guys do.

jer-the-bear: (November 06, 2009 6:17am)

Countryslide is finally getting its' just deserve. As an appraiser I was kicked off their list fifteen years ago for not appraising at the 125% level. Vindication!

Landlocked Mortgage Broker: (November 06, 2009 6:10am)

IS there a Tee-Pee at your office? I feel like you may have hit the peace pipe today, before taping the show! LOL

KenCook: (November 06, 2009 5:47am)

Man, if you guys didn't have RateAlert this would have only been a 5 minute segment.

Community Lending Team: (November 06, 2009 5:43am)

Does anyone else feel that the tax credit extension is not official until the TBWS guys discuss it on the show ?

Community Lending Team: (November 06, 2009 5:36am)

My gas mileage on my SUV was at or near terrible. That is, until I got RateAlert. Now it's GREAT! Thanks, RateAlert!

Jersey Girl: (November 06, 2009 5:36am)

Brian & Frank TBWS...can I have some of that Kahlua for my coffee? ;) Too funny...thanks for the laugh on a Friday morning. Have a great day!

yep: (November 06, 2009 5:15am)

my favorite stoners...has to be a pre-recorded from late Wednesday, no notice from the extension of the tax credit to Obama...

CT Mortgage Man: (November 06, 2009 5:06am)

What time do you record these videos? I receive them very early now on my blackberry. Looks like you were not close to sober in this video, nice!

License Underwriters: (November 06, 2009 5:05am)

Flagstar has been the worst run bank in the country for over 20 years. Just look at Manufacturs bank and old old Hammond mortgage.

spdr134: (November 06, 2009 4:38am)

It is understandable why there are so many homes available as the process of buying a home has been legislated to extinction. No common sense remains in the industry to effectively move homes in the marketplace. While the government tries to throw tax dollars at providing incentives to home buyers, they have simultaneously made it impossible to actually acquire a home.

jillsells: (November 06, 2009 4:14am)

I start my day with you guys every morning--it looks today like the weekend couldn't start soon enuf for ya. Thanks for the grins today.

Ohio Realtor: (November 06, 2009 3:49am)

One of the biggest boosts to the real estate market just occurred in Congress yesterday and you guys didn't mention it today. Congress passed the extension of the First Time homebuyer tax credit and expanded it to non-first time homebuyers. $8,000 first time buyers and $6,500 for non-first time homebuyers. Waiting on the Obama Man to sign today.

Lender: (November 06, 2009 3:12am)

You both are hilarious. That was informative and funny. You both were punchy and it made me laugh too, and the 3 stooges was classic. Have a great day!

RICHARD: (November 06, 2009 2:42am)

I THINK YOU BOTH BEEN SIPPING THE TIPPSY GIGGLES JUICE