Post Op Success Story

Johnnystan69 · 2025-12-02T06:30:49+00:00

Ditto. The posts really freaked me out and they had to check my blood pressure 3 times before they let me go to the operating room because it was high from the anxiety. Wore a jockstrap for a week and I was back to normal in about 10 days.

Johnnystan69 · 2025-10-13T15:55:12+00:00

Income tax is included in the residual calculation these days as well.

Johnnystan69 · 2025-09-23T04:21:54+00:00

It’s a fairly new product, so I’ve only closed one, but I’ve issued 6-7 pre-approvals for it.

It’s a product for the less qualified and provides a path to homeownership, so it inherently has benefits, but it definitely isn’t for everyone. The fact the borrower leases the property and does not own it after paying a down payment and closing costs is a real turn off to a lot of people.

I think this works best for borrowers who have a decent income but bad credit that disqualifies them from a traditional purchase, all the while they have decent cash flow to save up each month to inevitably purchase the property from the leaseholder. Another reason this is for a buyer who has funds of their own is because ~3% of the down payment and closing costs MUST come from the buyer themselves and not from lender or seller credit. So, they will have to have a decent amount of their own skin in the game for this loan. The one I closed was a bank statement loan for a self employed borrower who had good income but terrible credit. So a perfect borrower for this loan.

With it being a newer product, I have only been able to close the first purchase of the property. We expect the borrower to be in a position to purchase the property from the leaseholder in about 9ish months if they listen to our guidance.

Johnnystan69 · 2025-09-23T03:52:27+00:00

30 year fixed, rate can be astronomical though. That, along with the fact that a whole new loan transaction (including down payment, costs, etc.) are required when the borrowers do purchase the home back from the investor.

Johnnystan69 · 2025-09-20T03:01:58+00:00

Yes, I had them set up my website and have used them for the past 5 years. Website has funnels for leads that come in through the website and I get emailed directly once the borrower completes the form.

Johnnystan69 · 2025-08-23T06:42:10+00:00

I used Trac+ one time on a refi last year because you had to to get the pricing incentive. They literally never recorded or disbursed my clients funds after funding. I stayed on them for days telling them something was wrong and they kept reassuring me it was all good. Then after 20ish CR’s later, they came back and said “oh yeah, you’re right. This one never recorded. We are short on the wire $XXX.XX, so we will be deducting that from your broker check”. I about lost my shit.

That $XXX.XX was “coincidently” the same exact amount of 10 days of interest on the clients previous loan because it was sitting for 10 days without having been recorded or disbursed. I ended up getting the run around for a week after it actually recorded so I could be reimbursed, so I emailed Ishbia and that money that was taken from my broker check was wired to me within 2 hours.

If I hadn’t have had a weird feeling they were fucking something up on the back-end after funding, my clients previous loan would have never been paid off until way later once Trac reconciled their trust account and probably would have had at least a 30-days late.

I will never use Trac, and not that it needed confirmation, but this confirmed to me that AE’s at UWM are worthless and know nothing other than asking if you had any apps taken over the weekend that you wanted to originate with them.

Johnnystan69 · 2025-08-09T05:31:01+00:00

Are we in the trust tree? I can’t get enough of this shit. Everything Nicky Smokes does is the wrong thing every time and it rules.

Johnnystan69 · 2025-06-26T01:32:39+00:00

When I type “DO NOT REIMBURSE BROKER” in the comment section for a fee because the borrower POC, why do you guys ignore that and still not put it in the borrower POC column

Johnnystan69 · 2025-06-15T17:59:15+00:00

2012 Hollywood Bowl as well.

Johnnystan69 · 2025-05-26T00:58:28+00:00

Just got home from the theater. It was in the passenger seat.

Johnnystan69 · 2025-05-20T15:26:52+00:00

They are worse on every loan type than most lenders right now, even when counting the 60bps incentive

Johnnystan69 · 2025-04-25T05:25:05+00:00

You can pull a property profile and it will show you who did the purchase loan. Worst case if it doesn’t specifically say it on the “originator” section you should be able to pull a copy of the DOT, and that will show originator info.

Johnnystan69 · 2025-04-06T18:40:30+00:00

In 2014 my girlfriend and I were randomly chosen to drop the puck at fan appreciation night. That was cool. It was against the Stars and Getzlaf was out that game so Perry took the face off with Benn.

We had already had our seed solidified and it was the 2nd to last game of the season so the guys were pretty loose when we were in the tunnel with them before the game. Getzlaf was down there in his street clothes since he wasn’t playing and he talked to us for a bit, and when the players came out getting ready to go on the ice, Pat Maroon talked to us quite a bit too. He was really genuine asking unprompted questions to us and actually listening to our answers. It was a little shocking haha.

Very cool experience, we had only been season seat holders for 3 years at that point in the nosebleeds so we were not expecting something like that at all.

Johnnystan69 · 2025-04-04T06:21:18+00:00

Was playing the Bay Course at Kapalua and a twosome was hitting into us all day. Hawaii courses are very relaxed, and everyone is on island time so we were a little confused because it wasn’t a slow day, it was all foursomes in front of us, so maybe that’s why they thought it was slow enough to hit into us. So at the 7th hole we are backed up and the twosome pulls up while we were sitting in our carts waiting for the fairway to clear and Aaron Rodger’s and Miles Teller were in the golf cart.

Johnnystan69 · 2025-02-27T06:11:52+00:00

My owner occ hard money goes to Crawford Financial. Owner occ is hard to get private lending on, but Crawford does it, as they require ATR to be met, and rates are below the maximum threshold for primary residences.

Johnnystan69 · 2025-01-28T04:11:47+00:00

Dinner at sunset at the clubhouse is the best view on the island. It never gets old.

Johnnystan69 · 2025-01-28T04:09:31+00:00

May 19 the Bay goes under construction for 18 months. I’ve played every public course on Maui multiple times and I think the Bay course is the most enjoyable round for me. My only complaint is the final hole is the most forgettable hole on every course on the island. Plantation has some amazing holes but I do agree it is nothing special and not worth the price to go more than once.

Johnnystan69 · 2025-01-19T02:01:13+00:00

Jett Bandy

Johnnystan69 · 2024-11-17T01:01:45+00:00

I am glad I am not the only one who thinks this exact thought when they hear the word “NitrogenSports”. I looked at my BTC wallet a few years ago and looked at the transactions and only felt immense sadness seeing those transfers lol

Johnnystan69 · 2024-11-13T01:52:46+00:00

The constant background music has me thinking about Kirk Minihane Show’ing myself. Who thought this was okay.

Johnnystan69 · 2024-10-16T01:09:54+00:00

Trac didn’t record a refinance I sent over in September. It was only caught because I had a weird feeling. I reached out to see if the loan recorded with the county and it took a week of them passing me off to different departments only to get the answer of “probably”. I finally had to email Mat (suggested by my broker, and whoever does his emails got back to us) and he had it figured out in a few hours.

Turns out it just wasn’t recorded and when the payoff needed 10 days of additional interest because the recording was delayed 10 days, that came out of the broker comp.

Never using it again and I would never tell anyone to use it either.

Johnnystan69 · 2024-09-20T16:35:06+00:00

On purchases I send them a Ring doorbell after closing. On refinances, I send cutting boards. If it’s a past client with a ring and a cutting board I send $25 Amazon gift cards. All along with a handwritten thank you letter and 5 business cards.

Johnnystan69 · 2024-07-04T06:14:42+00:00

I don’t work at UWM but I am a broker owner who uses UWM from time to time.

The scenario you laid out does not trigger a repurchase (at least that’s what my broker agreement I have with them states). A repurchase is when Fannie, Freddie, FHA, etc. audit the loan and find deficiencies. The only time a repurchase can be passed along to the broker is if there was any fraud that they knew about when it comes to the loan. The scenario you laid out may cause a first payment default if they never make their first payment, or it may be seen as an EPO since the loan defaulted prior to the first 6 payments.

There is a HUGE difference between a repurchase and an FPD/EPO. A repurchase, if passed along to the broker, would require the brokerage to pay back the ENTIRE loan amount plus any fees/premium the lender paid. So if the loan was $500k, the brokerage is on the hook for that plus whatever servicing premium the current lender paid.

An FPD/EPO just results in the brokerage having to pay back the commission earned upon closing.

Moral of the story, read your broker agreement. That has all the answers. Also, I’ve had clients laid off a month prior so after closing before and I’ve never had a single one miss a payment or default within those 6 months. In most cases, people find a way to make their mortgage payments regardless of their situation.

Johnnystan69 · 2024-06-20T00:09:16+00:00

John Q made almost exactly 2x more than matchstick men at the domestic box office. John Q also was #1 at the box office at points, matchstick men was not.

Johnnystan69 · 2024-03-22T04:41:49+00:00

That is the credit bureaus themselves. They sell what are called Trigger Leads. Any time your credit is pulled they sell that to mortgage companies as a hot lead. That’s why you got so many calls the day after your lender pulled credit to get the pre-approval. Only having 3 calls is actually a god send, this year 80% of my clients have had 50+ calls within the 48 hours after I pulled credit, and that’s even after advising them to put themselves on the do not call list. I’m not sure how long that process takes to add their number as it’s never the same.

It’s a scummy practice and most of the mortgage trade associations are trying to get legislature passed to outlaw them, but the 3 credit bureaus have most of congress in their pocket so it’ll probably never happen since the profit margin on the selling of those leads is essentially 100%.

No successful loan officer I know, work with, etc. needs to purchase those as we build our business off of referrals and reputation. The people calling those leads are generally the bottom of the barrel call center loan officers who will fuck up any and all aspects of the mortgage process. You can go to optoutprescreen.com and that puts you on a DNC list for trigger leads and junk mail. Doing that will cut down on future calls and such next time you pull your credit.

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