Today you will hear 3 ways to prepare and do well getting a mortgage approval to buy your home or refinance one under the new TRID real estate lending guidelines that were implemented October 3rd, 2015 last year.   Terri Murphy of Murphy On Real Estate will be sharing some great tips for realtors who work with clients who are using financing  under the new real estate lending rules.  Author and credit score advisor Dan Sater will be sharing some of the top toxic credit mistakes people make and how to avoid them.  It’s all good stuff today!

Thank you for connecting with me!  Please let me know if you have a question about  your real estate financing scenario or if you would like to look at the dollar numbers on the deal you are putting together.  Subscribe to my e-newsletter at for the latest real estate financing hot topics that you will get every week.  Let’s stay in touch!

To Your Success,

Jo Garner, Mortgage Loan Officer and Real Estate Mortgage Shoppe radio talk show host

(901) 482-0354 jo@


Good morning, Memphis!  Welcome to our 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  This episode of Real Estate Mortgage Shoppe is sponsored by Evolve Bank Trust the Memphis Mortgage office managed by Chad Irwin.  Our general topic is TRID, TRENDED CREDIT…IT’S A NEW DAY & A NEW WAY TO GET APPROVED FOR YOUR MORTGAGE.

If you have a question or comment and you’re on Twitter, make them to #JoGarner or call me directly off the show at (901) 482-0354.  You can call us while we are live at (901) 535-9732 or outside the Memphis area (800) 474-9732 Today is  October 15th, 2016.

Today you will hear 3 ways to prepare and do well getting a mortgage approval to buy your home or refinance one under the new TRID real estate lending guidelines that were implemented October 3rd, 2015 last year.   Terri Murphy of Murphy On Real Estate will be sharing some great tips for realtors who work with clients who are using financing  under the new real estate lending rules.  Author and credit score advisor Dan Sater will be sharing some of the top toxic credit mistakes people make and how to avoid them.  It’s all good stuff today!

In September 2016 Fannie Mae, only on their conventional loan products are subject to the new Trended Credit system where the conventional loan underwriter can review the WAY you pay your credit.  Do you only pay the minimum payments each month on your  credit cards or do you pay almost all of the balance of the credit card each month? Fannie Mae likes the person making much more than the minimum payment on credit cards each month.  Fannie Mae’s trended credit does NOT like person who only pays the minimum payment on the credit cards and continues to add to their debt.

Terri Murphy is in the studio with us today. Terri is a national speaker, author, real estate consultant and communication specialist holding many designations. Terri sold over 100 homes per year in Chicago for 28 years and now offers her services as a consultant to help realtors around the count.  She is Murphy on Real Estate.  Terri, it is great having you in the studio again.  Tell our listeners a little more about yourself and what you do.  <Terri talks about herself and what she does>

<Terri then introduces Dan Sater> 

<Dan introduces himself and talk about what he does.>

(Special note in case Jo or Terri want to mention any of these facts about Dan during his introduction(Some facts about Dan Sater—author of the book The Top 20 Toxic Credit Mistakes People Make, Nationally Recognized Credit Expert, Author, Speaker, Educator and Credit Coach for the Credit Repair Industry, Former Licensed Real Estate Agent, Former License Mortgage Loan Originator – New York State 17 years, Owner of Credit Scoring Advisor – National Credit Restoration Company since 2007- some bragging rights for Dan.  He  has his official results for 2016 for Credit Scoring Advisors   the first 6 months he was successful in deleting 81.68% of bad credit items with 30.43% of his clients achieving 100% deletions)

 (Jo talks here) It’s definitely a new day and a different way the mortgage market has been reacting this week.  Mortgage rates have inched back up to 4 month highs, but they’re still great.  The 30 yr conventional fixed rate ended the day yesterday at around 3.625%- 3.75% with no points in most cases.  The conventional 15 year rates ended yesterday about 3% to 3.25% with the government FHA loan, the Veteran Loan, the 100% Rural Housing loans with rates close to the conventional rates.   I am getting calls from customers who want to get approved on a mortgage to buy a house, or two or even three houses.   Susan, my expert assistant and I have been getting jumbo loans approved too—loan amounts over $417k.  We are working with doctors on the 100% doctor mortgage for physicians.  Some of our clients need down payment assistance. A few of our callers are using the low-interest-rate opportunity to refinance and take their ex-spouse off the loan. Another client is refinancing and buying out his siblings on an estate situation. Whatever your scenario, call me personally and let me work the numbers for you.  You can call me after this show directly at (901) 482-0354 (901) 482-0354 or email me at jo@ or call us in the studio right now while we are live.  LET’S MAKE YOUR PLAN, WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, LET’S DO IT TODAY.

<Terri adds some  informational content].  >

(Jo) Our topic today reminds me of a story. We’re talking about  these new real estate lending guidelines changing the way we get from loan application to the closing table where we get our cash or our house. Buying a house is one of the most important life accomplishments, and we’re usually on a tight time clock to get through the process.  A few years ago I bought a computer online. Windows 8 had come out and I heard it was REALLY different than the Windows 7 operating system I was accustomed too, so, wanting to keep things simple so I could use the computer the way I also had, I insisted on my new laptop coming with the old Windows 7 system. You don’t always get what you want in life.  When my new laptop arrived, I tore into it and planned to get some work projects finished on it that very day.  WRONG! The computer had Windows 8—an entirely new way of operating a computer.   I could not even find how to open my programs.  Talk about  exasperated!  Later I snagged one of my computer guru friends and, with his short tutorial on How To Use Windows 8, I was in business again.  (If you don’t’ have a computer expert, just pay an 12 year old. They can fix any computer!)

 If you are going through the mortgage process, make sure you have an expert loan originator with you, and a realtor that has a track record of getting their clients safely and quickly through the mortgage process under the new rules.  We will talk later in this show about what is TRID guidelines and 3 important steps you need to take to have a smooth real estate closing today.

(Terri makes comments about the research indicating rents probably will go up in 2017 along with mortgage rates)

(Jo)  Our general topic today is TRID, TRENDED CREDIT…IT’S A NEW DAY & A NEW WAY TO GET APPROVED FOR YOUR MORTGAGE.   Let’s jump into some great tips on how to avoid costly mistakes on your credit. Owner of Credit Scoring Advisors and author of the book The Top 20 Toxic Credit Mistakes (the secrets from a credit industry insider,) Dan Sater, how can we avoid these credit mistakes? <Dan Sater launches his topic >



Credit Mistakes Homebuyers Make When Purchasing a New Home…that can get your Loan Application Denied!

  • Not Pulling & Reviewing your Credit Report
    1. Check for Credit Mistakes
    2. Check for Accounts that are not Yours – “Mixed Files”
    3. Look for Identity Theft
  • Making Large Purchases during the Mortgage Process
    1. This will increase your credit usage and lower your credit scores and may stop you from being approved.
  • Applying for New Credit
    1. You can lose points lowering your scores
  • Not Paying Down Credit Card Balances BEFORE starting the Mortgage Process
    1. Many Mortgage Companies won’t give you credit after you start the process…Doing this will increase your scores
  • Thinking Paying Off Charge Offs and Collections will take it off Their Credit Report, or Increase Their Credit Scores.
    1. Your score won’t change, and it will stay on the report for up to 7 years
  • Closing Credit Card Accounts Thinking it will Help them to be Approved for a Mortgage
    1. You increase the ratio of your debt to credit limits which lowers your credit scores.



  1. Part of the services of a smart and savvy agent is to get a pre-approval with a loan professional to look at the best options for financing, head off any problems before writing a purchase
  1. Same with sellers: Get an appt with Loan Officer
  1. Discovering TRID issues BEFORE the marketing process (ie. CLUE reports, Well & Septic reports, RADON, etc)
  2. Terri, how do realtors sign up for training with you?



  1. What are the TRID real estate lending guidelines and how do they affect me?
    • One of the first questions I hear people ask is What is this new lending regulation all about? Truth in Lending Integrated Disclosure ‘Know Before You Owe’ rule was put in place by the Consumer Financial Protection Bureau to make sure that borrowers get to review the official terms on their loan with a mandated wait time in place to give them more time to review it so they truly Know Before They sign the closing papers and Owe on the mortgage. The consumer should get to see their initial loan application disclosures 3 days after they do the official loan application with the property address confirmed. Once the loan is approved and the final numbers needed for closing are disclosed to the borrower–instead of closing the same day or the next day after getting the amount needed to bring to closing, the borrower now is required to wait an additional 3 business days before closing which is really more like 7 days if the paperwork is delivered via regular postal system instead of electronically using email.
    • The advantage to this regulation for homebuyers is that they can get more firm numbers if they want to shop lenders and they have a lot more time to review the paperwork than before.
    • The disadvantage to homebuyers AND sellers is that there are mandatory wait periods built into the process that can cause delays if borrowers are slow delivering their paperwork or if, for instance, buyer or seller stalls the process due to required repairs from the appraiser.
    • The solutions to prevent as many delays as possible is to use email to get documents back and forth to the lender instead of snail mail. Get your supporting documents to the lender as soon as they require them and do not wait a week—try to have them to the lender within 24 hours when asked for them.
  2. What are the top 3 things you recommend your mortgage clients to do in order to prepare for the a smooth real estate mortgage process under the new TRID guidelines that went into effect last October 3rd, 2015?
    • The solutions to prevent as many delays as possible is to use email to get documents back and forth to the lender instead of snail mail. If you don’t have an email address to e-sign your loan documents and disclosures, get a free one online and use a trusted family member’s computer to e-sign your documents.
    • Get your supporting documents to the lender as soon as they require them and do not wait a week—try to have them to the lender within 24 hours when asked for them.
    • Determine if any repairs will be required on the subject property as soon as possible. The sooner the seller completes the repairs, the sooner the lender gets back a completed appraisal package and can send your loan to the underwriter for approval.  Obviously, the faster the loan is approved the faster you get too close.


REAL ESTATE TIP OF THE WEEK (Terri Murphy has about 1 to 1.5 minutes to share a real estate related money-saving or time-saving tip):


  1. Talk Shoppe offers free networking & education to anyone interested in real estate or in business. Talk Shoppe meets every Wednesday 9A-10A CT at the University of Phoenix 65 Germantown Court1st floor Cordova, TN.   This Wednesday October 19th, 2016. Talk Shoppe  presents: “Dr. Glen Fenter, Greater Memphis Alliance For A Competitive Work Force “Our Newest Work-Force Development Too–Memphis Works” For more information about Talk Shoppe go to
  2. Talk Shoppe events are free thanks to advertisers like Mary Lou Nowak of Mid-South Home Helpers (901) 414-9696  When your elderly or handicapped loved one wants to remain safely and comfortably in their own home, Mid South Home Helpers provides excellent non-medical assistance.
  3. Thanks also to Talk Shoppe Supporter Beverly Borwick of  Beverly can design jewelry and accessories that are very unique to you or someone special.
  4. This episode of Real Estate Mortgage Shoppe was sponsored by Evolve Bank & Trust the Memphis Mortgage office managed by Chad Irwin. If you or someone you know is looking for a career in mortgage lending, give Chad a call. (901) 260-1480
  7. Real Estate Mortgage Shoppe reminds you that MAKE YOUR PLAN, LET’S WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, DO IT TODAY!.

QUOTE CORNER:  Carl Bard-“Though no one can go back and make a brand new start, anyone can start from now and make a brand new end.”

Courtney Frances “Dust settles—I don’t.”


REJOINERS:  Nic Ponzo, Reverse Mortgage Specialist with Evolve Bank and Trust  New York, NY 917.930.2496

  1. Troy and Lynn McDonald, Erin McDonald Insurance Agency (901) 849-7101
  2. Sonia Balcer, Physicist-Rocket Science, Montrose, California


Transitional Music: “It’s A Brand New Day” by Bryan Adams; “A New Day” by Celine Dion; “A Brand New Day” by Sting


Background of Daniel Sater



“Changing Lives – Rebuilding Financial Futures”



Daniel Sater, C.C.E. C.F.P.

Nationally Recognized Credit Expert

NYS Certified Instructor Continuing Education

Kathy Butler   Assistant


Fax 631-574-3174

Proud Member of NACSO

The Credit Industry Trade Association

CROA Certified – NACSO

Nationally Recognized Credit Expert, Author, Speaker, Educator and Credit Coach for the Credit Repair Industry

Former Licensed Real Estate Agent

Former License Mortgage Loan Originator – New York State 17 years

Owner of Credit Scoring Advisor – National Credit Restoration Company since 2007



Member of NACSO – National Association of Credit Services Organizations

Education Committee Chairman – NASCO  – developed Certification Exams for Trade Association and Training guides for members

Honors and Awards

Certified Credit Expert – CreditCRM
Certified FICO Professional – ALLREGS/FICO
CROA Certified – NACSO
New York State Certified Instructor for the Real Estate Industry Continuing Education  – Credit Course Approved for CE education points requirement.

“The Top 20 Toxic Credit Mistakes” available on Amazon Kindle
“Credit Repair Secrets”


  • Credit Expert on Eye on Real Estate 740 AM with Dottie Herman CEO of Elliman Real Estate
  • Channel 12 TV – “Job-line” Quoted in various publication like the New York Times
  • Credit Mastery – HTDI Phoenix – The Inner Secrets of the FICO Scoring Model
  • The Credit Repair Summit – Expert Speaker/Trainer “Comparison of Credit Scoring Models” & “ Training for the FICO Professional Certification” 2014 – 2015
  • Annual Credit Repair Industry Conference – CreditCRM Las Vegas
  • CreditCRM – Expert Panel Speaker & Presenter
  • Credit Repair Boot Camp –Tampa & Dallas
  • DisputeSuite Expert Panel Speaker
  • Credit Mastermind Workshop – San Jose
  • Continental University – speaker
  • New York State Symposium on Housing Market – Panelist – Poughkeepsie
  • Continuing Education Class Instructor on Credit Repair for LISORE Real Estate School
  • Napmw Hudson Valley Speaker
  • Various Service organization groups and Numerous Webinars of Credit Repair
  • Credit Expert Moderator – Credit Repair Intelligence Forum

Daniel Sater

Nationally Recognized Credit Expert, Author, Public Speaker, Credit Coach to many Credit Repair Companies

  • Certified FICO Professional
  • Certified Credit Expert
  • NY State Certified Instructor for Real Estate C.E. Classes
  • Speaker at National Conferences, appearing on Radio, TV, quoted in Newspapers and numerous Articles on Credit
  • 20 years in Real Estate and Mortgage Lending
  • Chairman of the Education Committee for NACSO the Credit Repair Trade Association




Terri Murphy

Author, Speaker, Consultant & Communication Specialist

Terri brings a depth of industry experience and education to the Real Estate Industry. Having earned the GRI, CRS and other designations has helped Terri perform at the top of the real estate industry… at a consistency of listing and selling over 100 homes per year for over 28 years in the Chicago area. Today she performs as a consultant to the real estate and general sales industry to help build communication systems and resources that foster relational capital that result in true clients for life.

About Terri:

  • An active member since 1988 of the National Speakers Association
  • An active member of NAR since 1978
  • NAR Game Changer Coach for 2 project initiatives, 2009-2010
  • Currently the Chief Information Officer for U.S. Learning, Inc.-Memphis, TN.
  • Founder-President:
  • Authored weekly newspaper column for Copley News & Lakeland Press – “Murphy on Real Estate”
  • Served as 2006 Chairman of the National Association of Realtors  Membership Information Committee
  • Former Vice-President of Interactive Business Television Network (IRTV): Writer & Producer for Muzak’s Business Satellite Television  1995
  • Staff Writer for RealtyTimes, Broker Agent News, FrogPond Publishing, Memphis Woman’s Magazine and Mortgage Originator Magazine, Mortgage Planner Magazine
  • Hosts a Weekly Internet Radio Program: www.WomensWisdomNetwork Success Radio
  • Former host of Weekly Radio Program – “Murphy on Real Estate” for WKRS/Chicago
  • Staff contributor to
  • Author of  Terri Murphy’s Listing & Selling Secrets published by Dearborn Publishing in l995
  • Author of  Terri Murphy’s E-Listing & E-Selling Secrets: for the Technologically Clueless – published November 2000
  • Author: Taking Charge, Lessons in Leadership, published by Insight Publishers – September 2003
  • Contributing Author: Real Estate Confronts the Future – published by Thompson Southwestern – Real Sure – 2005
  • Contributing Author – Donald Trump: The Best Real Estate Advice I Ever Received – Rutledge Press – 2006
  • Founder of the Illinois Lake County Chapter of Women’s Council of REALTORS®  1989
  • Served as President of Illinois State Chapter of Women’s Council of REALTORS®
  • NAR Executive Committee 1998
  • Conducts continuing education and distance learning seminars – Program Information Available

Industry Consultant to: (abbreviated list)

National Association of Realtors


ACUMA (American Credit Union Mortgage Association)

Mortgage Professional Training Network

Great Harvest Franchises

YRC World Wide

FedEX Institute of Technology

Harris Bank of Chicago

Countrywide Funding

RE/MAX International


First American Title Company

Entreport, Inc.

Ben Franklin Savings Banks

First Midwest Banks

American Back Centers for Chiropractic Medicine



New York Times



Mortgage Originator Magazine

Realty U

Dearborn Financial Publishing Company


ABC Sunday Morning News

NBC Sunday Morning News

CNBC – Expert Segment

Twin Cities LIVE

Focus On Lake County

Live@9 – Memphis

MPTN-Mortgage Professional Training Network

CBS-WREGTV–Live@9  Regular Guest

Staff Writer/Articles Featured in:

PC World Magazine

Frog Pond Publishing

Computer Age Magazine

Real Estate Professional Online Magazine

Broker Agent News (Staff Writer)

Mortgage Originator Magazine (Staff Writer)

National Association of Mortgage Bankers

Women’s Council of Realtors® Magazine

Executive Relocation Magazine

Copley News

Real Estate Executive Magazine

Memphis Woman’s Magazine

MCAR Magazine


  • Licensed Real Estate Agent 1978
  • Licensed Real Estate Broker 1979
  • Graduate: Real Estate Institute (GRI)
  • Certified Residential Specialist (CRS)
  • Leadership Training Graduate (LTG)(PMN)
  • Certified Counselor of Real Estate (CREC) 2001
  • Illinois CRS of the Year 1993
  • Licensed Continuing Education Instructor (Programs approved in 26 States – 2000-2007)
  • 50 Women Who Make A Difference –Memphis, TN. 2008
  • ReMax Hall of Fame 1994 • Coldwell Banker Intl. Elite Presidents Club 1997
  • Alma S. Thorsen Award – 1987
  • 50 Women Who Make A Difference – Memphis, 2008 50 Top Real Estate Women – Memphis, 2010

Websites: (Mortgage Originators/Real Estate

For more information: Visit or call 847-970-2717



A New Look At Your Home Financing    (901) 482 0354  jo@  twitter @jogarner 

Jo describes her job description: As a mortgage loan officer, my job is to give my client the benefits they want from their financing terms– listening to my client and determine what’s of the most value to THEM–  What is their comfort level on a house payment, how much are they comfortable paying down, what type of financing do they need to get the house they 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. Whatever their personal priorities are, my job is to put together a mortgage with comfortable terms that will help them achieve their goals.”

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.  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