During our time together today I will be sharing some advice with you from the mortgage desk on what mortgage underwriters are looking for first when deciding to approve or not approve your loan. Like passing a college exam-if you know what’s on the test, it is easier to pass it. Jeri Jeffries of Tiger Paws Carpet Cleaning will be giving you some tips on keeping your carpet clean for those important to impress guests who may be stopped by your home today.

What do YOU want to accomplish with YOUR mortgage? I want to hear your story. Call me at (901) 482-0354. Email Jo@JoGarner.com Subscribe to get our weekly podcasts with show notes right in your inbox www.JoGarner.com.
To Your Success,
Jo Garner, Mortgage Loan Officer NMLS# 757308
(901) 482-0354 Jo@JoGarner.com




Good morning, Memphis! Welcome to our internet listeners and podcast listeners across the 50 states! You’re on Real Estate Mortgage Shoppe. I’m your host, Jo Garner, Mortgage Loan Officer. You can connect with me at www.JoGarner.com. Our general topic today is PASSING THE CRITICAL TEST-WHEN YOUR HOME AND YOUR FINANCES NEED TO LOOK THEIR BEST. . Subscribe to get our weekly blogposts with podcasts at www.JoGarner.com. Call us while we are live at (901) 535-9732 Today is February 9th, 2019.
During our time together today I will be sharing some advice with you from the mortgage desk on what mortgage underwriters are looking for first when deciding to approve or not approve your loan. Like passing a college exam-if you know what’s on the test, it is easier to pass it. Jeri Jeffries of Tiger Paws Carpet Cleaning will be giving you some tips on keeping your carpet clean for those important to impress guests who may be stopped by your home today.



Jeri Jeffries of Tiger Paws Carpet and Upholstery Cleaning is sitting in our co-host chair ready to help you with some tips on what to do and who to call when you find out very important guests are coming to your house –someone who can launch you into your dream job, friends from our office or your church coming to visit you at your home for the first time. It may be your future in-laws. When it is critical for your home or office to pass the test, Jeri Jeffries can help you out. Jeri, take a minute or so and tell us what Tiger Paws Carpet and Upholstery Service can do for your clients. (Jeri takes about a minute and a half to talk about herself and what Tiger Paws does for her clients. Tiger Paws clean carpets for commercial, residential properties. They clean repair and stretch carpet. They clean upholstery too. They do house cleaning also



(Jo) As a mortgage loan officer, I have seen plenty of situations where, to pass the critical test with a mortgage underwriter, my clients have had to look their best. The nerviest nail-biters are the home purchase transactions where the buyers’ mortgage has to get approved and closed on Thursday morning because they need to close and move into their new home that same Thursday afternoon or have nowhere to sleep Thursday night.

If you really want to pass a critical test that will get you from where you are to where you want to be, you really should consider surrounding yourself with a team of professionals to guide you away from expensive mistakes. They can help you negotiate a deal you can brag about.



Some of the most successful real estate investors I know will not go into a real estate transaction without their team of professionals. It reminds me of a story that I have read online in a number of places told in a little bit different way depending on whose telling it.
But here’s the story from teamworkandleadership.com : Once there was man who was lost while driving through the country. As he tried to read a map while driving, he accidentally drove off the road into a deep muddy ditch. Though not injured, his car was stuck. So,
the man walked to a nearby farm.

There he saw an old farmer and asked for help. The farmer replied, “Warwick can get you out of that ditch,” pointing to an old mule standing in a field. The man looked at the old run-down mule and then looked at the farmer who just stood there repeating, “Yep, old Warwick can do the job.”
The man figured he had nothing to lose. The two men and Warwick made their way back to the ditch. The farmer hitched the mule to the car. With a snap of the reigns he shouted, “Pull, Fred!” “Pull, Jack! Pull, Ted! Pull, Warwick!” And the mule pulled the car from the ditch with very little effort.
The man was amazed. He thanked the farmer, patted the mule and asked, “Why did you call out all those other names before you called Warwick?”
The farmer grinned and said, “Old Warwick is just about blind. As long as he believes he is part of a team, he doesn’t mind pulling.”

Not that my mortgage clients are blind. They’re not blind. They’re smart. They know the power of a professional team to keep themselves protected and profitable. Here’s some great team members to have working with you when you go to buy real estate: An experienced, reputable realtor, a knowledgeable lender to help make the rough places smoother during the financing process, a good closing attorney or title company. You need a reliable home insurance agent and maybe even a home inspector too.

Make Your Plan Let’s Work Your Plan. If the deal works for you today, let’s do it today. What do YOU want to accomplish with YOUR mortgage? Call me after the show at (901) 482-0354 . Connect with me at www.JoGarner.com



Jeri, if I am wanting to sell my house and get top dollar from a buyer who may only see my house one time, what are some good tips to making it look clean and smell clean
(Jeri has a couple of minutes to start sharing some tips on how to keep your carpets looking nice and the house too for expected and unexpected guests )
Professionally clean your new carpet every 18 months to keep the warranty. Vacuum regularly. Don’t use chemical with soapy residue to clean carpets. Tiger Paws uses a carpet cleaner with special enzymes in it get rid of pet stain odors.

You’re on Real Estate Mortgage Shoppe. I’m your host, Jo Garner, Mortgage Loan Officer-your lender for life. What do YOU want to accomplish with YOUR mortgage? Connect with me at www.JoGarner.com . Jeri Jeffries from Tiger Paws Carpet and Upholstery Cleaning will be sharing some of her wisdom with you when we come back





2nd segment after 9:15 break: Our Look Back Memphis Trivia Contest is brought to you by Memphis and Shelby County historian, Jimmy Ogle. Our Look Back Memphis Trivia Contest is sponsored by John and Jennifer Lawhon of Lawhon Landscape (901) 754-7474. The Lawhon’s can help you plan your landscaping if you have a BIG, BIG project or a smaller project, or if you want to do the Big project in phases . The Lawhons are giving away a $25 gift card to the first person with the correct trivia answer. If you know the answer to our trivia question, call us at 901 535-9732. (speaking of our historian, Jimmy Ogle… Do yourself a favor and go hear him speak every Monday and Thursday February 4th through March 14th, 2019 at the Pink Palace Mansion Theater. Jimmy will captivate you and bring history to life for you. For more info contact the Pink Palace or go to www.JimmyOgle.com

Garner # 147 * 02/09/19

George Klein
Question: I was the Class President of my high school in 1953. Who am I?

Hint: I followed Wink Martindale as Host of Talent Party on WHBQ-TV.

Hint: I published my own Top 40 Song Hits in the middle1960s.

Final Hint: I was inducted into the Memphis Music Hall of Fame in 2018.
Answer: George Klein. Born in Memphis, Tennessee, GK was an American disc jockey, and television host. He met Elvis Presley in the eighth grade at Humes High School in North Memphis, and they remained friends until Presley’s death in 1977. GK was President of the graduating Class of 1953, along with Elvis. Years later, it was Elvis who stole the spotlight, recording songs at Sun Records. “So Elvis goes into That’s Alright Mama and man he took off like fireworks! Sam said, ‘son, I think you got something,’” said Klein.

GK had a long and successful career as a Memphis radio DJ and TV personality, hitting the airwaves in 1957 and hosted Talent Party on WHBQ-TV from 1964 to 1973. He also was a member of the famed Memphis Mafia, consisting of Elvis Presley’s closest friends and associates, and appeared in cameo roles in eight of Presley’s movies. In his later years, Klein hosted both SiriusXM’s channel 19 Elvis Radio and the George Klein Original Elvis Hour on WLFP FM. GK also wrote two books. The first, Elvis Presley: A Family Album, was published in 2007, by Little, Brown and Company, an imprint of Hachette Book Group. The second, Elvis: My Best Man: Radio Days, Rock ‘n’ Roll Nights; and Me and a Guy Named Elvis: My Lifelong Friendship with Elvis Presley, was co-written with Chuck Crisafulli and published in 2011, by Three Rivers Press. Klein was inducted into the Tennessee Radio Hall of Fame in 2013. In 2018, he was inducted into the Memphis Music Hall of Fame.

Jimmy Ogle will be presenting two FREE “encore tours” of the Judge D’Army Bailey Courthouse on Friday, March 15 at 12:00noon and 1pm. He is also giving two tours at Elmwood Cemetery on Saturday, April 6 (10:30am & 1pm). $20 each, Reservations Required – call 774-3212. Go to JimmyOgle.com for more information.





1. What she can do for someone getting ready to list their home for sale like removing pet odors, cleaning up stains and making the house smell fresh. (on podcast)
2. Share a story of how she has transformed a client’s home just in time to pass a critical test by someone important (on podcast)
3. Talk about how allergens not only collect in the duct work, but also in the carpet. Dogs shed, you shed dead skin etc. Vacuuming helps but you can’t get it all. Cleaning the carpet regularly gets the allergens out. Jeri Jeffries has a black light to find the pet accident locations so that she can use a special enzyme, protein killing solution to neutralize the odor and kill the bacteria all the way down to the carpet pad.
4. Talk about the importance of water extraction to avoid mold getting a toe hold to grow in your home.
5. Talk about your carpet repair and carpet stretching service that can help people on a budget (on podcast)
6. What do you feel is your greatest strength when it comes to serving your customers? (on podcast)





1. What exactly does it mean when the loan officer tells you “your loan has gone to underwriting?”
2. How long does it take an underwriter to approve a mortgage?
The time it takes for an underwriter to make a decision to approve or deny a loan can vary depending on the complexity of the file and how complete the file is with the proper supporting documents. Usually an underwriter can approve your loan in 24-48 hours. The best way to determine the time table for your loan is to talk with your mortgage loan officer or mortgage processor to get the time line for underwriting on your mortgage application.
3. What are the top priority areas an underwriter will look for in my mortgage application that will determine whether I get my loan approved or denied?
At least in the beginning, your underwriter is a computer running an automated underwriting software program-not very sexy but very smart. Here are some of the highest priorities these software underwriters are looking for in your file:
#1 Funds to use for your move-in costs on a home like your down payment, closing costs, third party fees and paying into an escrow account for your real estate property taxes and insurance. It is important to have plenty of funds for emergencies and unexpected events. The larger number of residential 1 to 4 unit units you own and have financed, the larger amount of reserve savings that an underwriter will want to see that you have available after your closing.

#2 Credit scores and your credit history over the last year or two. Great credit scores on one of the FICO Mortgage scoring system are 850- 780. Really good credit scores are 740-779. Good scores are 739 to 700. Average scores are 699 to 660. When you get below a 660 credit score, you have some extra challenges and pricing.

Most mortgage programs lay out in their guidelines the minimum credit scores they will accept and the pricing you are offered in certain credit score ranges. These same program guidelines vary in their requirements for the amount of time you must wait after a bankruptcy or foreclosure on a home.

Here’s a tip to the wise: The higher your credit scores, the lower your costs to borrow. The lower your credit scores, the higher costs you will pay to borrow.
I am not a licensed credit repair person and I direct my clients to the credit bureaus for any final corrections or fixes. There are no guarantees that you will get the exact results you want 100% of the time. What I am sharing with you is based on close observation and study of the cause and effect on numerous mortgage client credit reports).

a. Make your payments on time and do not let them get over 30 days late.
b. If a creditor is contacting you about a collection account, pay it as soon as possible or set up a payment plan with the lowest possible payment per month with an agreement with the collection company not to report negative information about you to the bureaus.
c. Never use more than 30% of your credit card limits. For example, if your credit limit is $10,000, you would never want your balance to go over $3,000. Your utilization habits on revolving account activity makes up over 30% of your credit score.
d. Stay away from 12-months-same-as-cash accounts. Most of the time these type accounts are scored as maxed out revolving accounts. I have seen these accounts drop someone’s score more than 100 points.

#3 Appraisal on the property where the mortgage will be secured. Mortgage programs differ from your program to another on which comparable home sales in the area Condition of the property is a factor too. Does it need repairs or just a little cosmetic touch up?
#4. Income-to-debt ratios. Underwriters want to see that you can afford to make the house note. Many of the loan programs allow your total income-to debt ratio to go has high as 45% of your gross income appearing on your paystub. Other programs can allow your income-to-debt ratios to go as high A 50% or 55% of your gross income. But you need to determine what is the maximum house payment that you can comfortably pay and still enjoy your life.
Example: Gross income before employer deducts Federal Taxes, FICA, your health insurance deductions= $5,000/month
Your debts are: Your car note of $300/month
Your minimum required payments per month on credit cards= $150/month
Your proposed house note including principal, interest, taxes and insurance and mortgage insurance is going to be = $1,200 /month plus an association fee of $25/month
Total debt to counted in your income-to-debt ratio is $1,650/month
$1,650 / $5,000= 33% debt ratio

#4 What are your Do’s and Don’ts for enjoying a smooth mortgage process?





From: Jo Garner, Mortgage Loan Officer NMLS# 757308 (901) 482-0354
1) ______(initials) It is vitally important that you do not change anything on your asset statements after Jo has reviewed your bank statements. Any decrease in your assets could make or break your loan approval or cause a delay in your closing. ANY LARGE DEPOSIT NOT PAYROLL RELATED NEEDS TO HAVE THE SOURCE DOCUMENTED. (You can get images of the deposit and copies of deposit slips from your bank.)

2) ______(initials) If you are legally married, and buying or refinancing a primary residence, even if your spouse is not on the loan nor on the title, your spouse will be required to sign a few key documents to keep your title clean under the state law. Change in marital status could cause problems on title.

3) ______ (initials) When it comes time to provide bank statements or any asset account, or tax return, it is necessary to provide ALL pages of the statement, even if it is a blank page. On asset account statements, make sure the name of the bank, your name and at least part of the account number appears on any bank documentation you submit to us.
4) _______ (initials) Please do not make any changes to your income or manner of payment from income from your business or employment. When it is time to send tax returns, please send ALL pages including any K-1s if applicable. Even if your income is increasing, under current loan guidelines some methods of income payment are not allowed to be counted as qualifying income so it is important to let your loan officer know of upcoming changes right away to make sure the type payment of income is acceptable for loan qualification purposes. If you own 25% or more of a business, please send all pages of the business tax returns for the past 2 years also. (In some cases underwriting may require a year-to-date Profit and Loss for self-employed borrowers.)
5) ________(initials) If you file your tax returns right before or during the loan process, this can delay your loan process by a month or more due to the time it takes the IRS to fully process and log your numbers into the government required IRS third-party transcript for that tax return that must be included in your loan file. You may consider filing an extension on filing your IRS return in order to avoid this delay. (Underwriting may ask for a year-to-date Profit and Loss for self employed borrowers.)
6) _______ (initials) Do not open any new credit accounts (and especially not a 12-months-same-as-cash account.) Do not add balances to any existing credit accounts. Do not apply for any new credit during the loan process. Do not make any changes on your credit status.
7) _______ (initials) Please check your tax returns and make sure you are not showing any unreimbursed employee expenses. Most employee expenses are deducted from your regular income. (some exceptions). Also, if you have any undisclosed business losses, please notify your loan officer.
8) ________(initials) Make sure that you keep your accounts paid current during the loan process. Even though you are planning to pay off an account at closing, please do not allow this account or any others, including any mortgages, to go 30 days late even if the closing the delayed. (This could cause your credit scores to drop right before closing and jeopardize your loan approval.)
9) _______ (initials) Use funds for closing DIRECTLY from the account where we have verified your funds. If funds come from a different account, it can delay or jeopardize your closing . Also do not move money from the account where funds were verified to another account to access for closing. Funds must come DIRECTLY from the account where funds were verified and not moved to a different account for any reason. Earnest money must come from the account that you will be fully documenting.
10) ________(initials) REMEMBER, AT CLOSING THE FUNDS WILL NEED TO BE IN THE FORM OF A CASHIER’S CHECK AND/OR WIRE PAYABLE TO THE CLOSING AGENT. You will need 2 forms of ID at closing including drivers license. All borrowers and interested parties will need this documentation at closing.
11) _______ (initials) If you are on any of the accounts we are verifying with another person, you will need to get a short letter, dated and signed by the other person identifying the account and stating that you have full access to the funds.
12) _______ (initials) If there will be a full appraisal on the property you are financing, please inspect the subject property for repairs that may be required prior to closing by the appraiser. Some common required repairs are leaky roof, rotted wood, peeling paint, torn flooring, broken tile, non-functional plumbing, electrical or HVAC systems, drainage problems, holes in sheetrock, broken windows, foundational problems, termite damage, hazardous waste on property, etc.
If the property is in a flood zone, flood insurance will be required. Appraisal values are determined by the assigned appraiser. Comparable property sales over the last 6 months to a year on houses like the subject property in the subject property neighborhood are used to determine the official value used by the mortgage company. Government guidelines require the mortgage company to order an appraisal and have the appraiser to be assigned to the property by a third-party, government approved order agency separate from the mortgage company.
The mortgage company must order the appraisal from the approved agency. Appraisals from other mortgage companies and appraisals ordered by anyone else, are not qualified to be used under current loan regulations.
Appraisal fees are not refundable.
13) ________(initials) If you are refinancing your home, please make sure the home has not been listed for sale on the market within the last 6 months. REMEMBER THAT ON A PRIMARY RESIDENCE, THERE IS A 3 DAY RIGHT OF RECISSION BEFORE MONEY IS DISBURSED.
14) _______(initials)Due to the new TRID government lending guidelines, there are mandatory delays set up throughout the process, giving you a chance to review the terms as the process moves forward. If you change anything that triggers a change in the final terms after final disclosures have been sent, this could delay your closing to wait on new documents to be received by you and the mandated delay period completed.
15) ________(initials) Due to a rising number of incidences of hackers/scammers attempting to redirect wired closing funds, please do NOT have any funds wired before verifying the wiring information with your loan officer and the attorney’s office. There may be additional steps to take to ensure your money is wired to the correct account.





(Jeri Jeffries shares a real estate tip—when you think your have ruined your carpet, let Jeri give you a free estimate on repairing it instead of replacing it. The cost difference will make you glad you took time to compare. ):





Talk Shoppe offers free networking & education to anyone interested in real estate or in business. Talk Shoppe meets every Wednesday 9A-10A CT at Pinot’s Palette 8225 Dexter Rd Cordova, TN. This Wednesday February 13, 2018, Talk Shoppe presents: “Hiring in Today’s Tight Candidate Market” with Dotty Giusti, President of Summerfield Associates, Inc

Talk Shoppe events are free thanks to supporters like Tim Gilliland of www.BackupRX.com When you need to recover lost data on your computer, you will feel like you scored an A+ on a big test when all you have to do is contact Tim at BackupRX and simply download all your data and system files immediately when you need it. Contact Tim at www.BackupRXcom about getting your data automatically backed-up
Thank you to Taylor Eason, author of the book What Rises With The Sun Subscribe, support and be recognized in the published work. www.CTaylorEason.com

2. Happy Valentine’s Day to everyone! It’s all about the LOVE and we, here at Real Estate Mortgage Shoppe, are sending out our love and appreciation for you—our listeners and friends this week!

4. Head down to the Garden Show at the Ag Center today February 9th, 2019 You can get some great ideas for YOUR home. John and Jennifer Lawhon would love to meet you in person. They are in booth 182. Tell them you hear them on Real Estate Mortgage Shoppe.

4. Subscribe at www.JoGarner.com and you can get our weekly blog posts with podcasts conveniently in your inbox.





Karim Sedikki “Doubt killed more dreams than failure ever did”




1. Mary Jane Lessley, Signs Now in Memphis, TN (901) 368-0784 www.signsnowmemphis.com
2. Troy and Lynn McDonald, Insurance Agents with Erin McDonald Insurance Agency (901) 849-7101
3. Jana Cardona, Executive Director of Mid-South Business Network International www.bnimidsouth.com

Transitional Music: “What Does It Take To Win Your Love” by Junior Walker and the All Stars; “Style” by Taylor Swift; “She’s Got The Look” by Roxette; “Memphis” by Johnny Rivers for the Look Back Memphis Trivia Contest





I believe in providing a quality service for a fair price and standing behind my work. Honesty has always been my key to success. Additional Organizations where I am involved:

Memphis Restaurant Association, Greater Memphis Chamber, BNI, Food Service Connection, MMHLA.
My back ground is in several types of businesses and industries — I have done everything from fast food, to selling vacuum cleaners door to door, to working in the resin and fiber glass industry to commercial pest control, to selling paint jobs for a local paint contractor and now I am here. I decided it might be nice to work for myself. To buy a business, that I could grow for my family. My kids, and their kids.





www.JoGarner.com (901) 482 0354 jo@jogarner.com twitter @jogarner NMLS# 757308

“Whatever YOUR personal priorities are, my job is to help you get the mortgage terms that will give you bragging rights when you talk about it and help you score on hitting your goals .”
As a mortgage loan officer, my job is to help you get to the benefits you want from your financing terms. What is most important to you? I can help you find the financing terms that will help you get to what you want. What is your comfort level on a house payment? How much are you comfortable paying down,? What type of financing do you need to get the house you want to buy or refinance?
Different clients have different priorities in life—some are buying their first home with very little down payment funds. Some are recovering from medical challenges, divorces or preparing to send children to college and some are embarking on a long term goal of buying properties to build rental income.”
Jo Garner is a mortgage officer with extensive knowledge in tailoring mortgages to her customers who are refinancing or purchasing homes all over the country. She offers conventional, FHA, VA or other loan programs for refinancing and purchases.
Jo can help you look at rent vs buy, when it makes sense to refinance, how to get the best deal on your home purchase financing.
Jo Garner has been in the real estate/financing business for over 20 years. She got her start in Portland, Maine where she first began her real estate career. She received her real estate education from the University of Southern Maine and was personally mentored in San Diego, California by Robert G. Allen, author of Nothing Down, Creating Wealth and The Challenge.
On moving back to West Tennessee in 1987, she went into business buying and selling discounted owner-financed notes secured on real estate. In 1990 Jo went to work for a residential mortgage company and has been a mortgage loan officer for over 20 years. Her goal is to offer excellent, affordable service to her customers, tailoring the loan programs to the specific needs of her clients.
In addition to her work in the mortgage field, Jo Garner is the primary sponsor and founder of Talk Shoppe in Memphis. www.TalkShoppe.com She was also the editor of Power Shoppe, a free weekly e-zine designed for real estate professionals and others indirectly connected to the real estate industry and currently publishes on her blog www.JoGarner.com