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  • September 12, 2009 at 9:38 PM #456719
    HLS
    Participant

    Why do people fall for this crap ?
    Shop by rate and you will find the biggest liar.

    Dave,,,
    I know that you know the industry, how could you be so foolish ?
    What makes you think that an desk worker at a credit union has any more responsibility than a bank employee.
    I continue to be amazed that otherwise intelligent people fall for the belief that “banks & CU’s” are giving away loans for free and using a mortgage broker is going to cost them more.

    Cont..
    “that Federal good-faith ESTIMATE form…specifying the terms originally agreed to”
    Is there some misunderstanding about what the word ESTIMATE means ?? Have you ever read the print on a GFE that CLEARLY STATES these are ESTIMATES and your actual costs may be higher or lower.

    For everybody who shops by rate and thinks that they know how to get the lowest rate and are finding the cheapest place to get your loan, you will probably end up with the biggest liar.

    Dave, I probably could have completed your loan in 30 days or less at the same price you paid BofA.
    And it means ABSOLUTELY NOTHING that a current loan is being serviced by a bank. Unless the old loan was an ARM, they probably didn’t own the loan and don’t give a crap about you and it doesn’t make an ounce of difference.
    A new loan is a new loan and requires a complete new submission. Servicing the payment is not the same as owning your loan.

    For 15 & 30 YR Fixed loans, banks are nothing more than mortgage brokers with the same underwriting guidelines.

    Why are so many intelligent people so stubborn and foolish ?? Why don’t people want to listen to the truth ?

    30 YR rates are available down to 4.25% with a cost again at the moment, if you qualify.

    Warms my heart when I hear how great the service is from my competition. Shop for the person to do your loan and you might get the right rate along with service if you know how to shop…. Shop for the lowest rate and refer to the original post of this thread for what you can expect.

    September 12, 2009 at 9:43 PM #456125
    HLS
    Participant

    OX..
    I’ll be waiting for your call shortly after 12 noon on Monday…
    and their rate couldn’t have been that good, don’t kid yourself.

    September 12, 2009 at 9:43 PM #455930
    HLS
    Participant

    OX..
    I’ll be waiting for your call shortly after 12 noon on Monday…
    and their rate couldn’t have been that good, don’t kid yourself.

    September 12, 2009 at 9:43 PM #456532
    HLS
    Participant

    OX..
    I’ll be waiting for your call shortly after 12 noon on Monday…
    and their rate couldn’t have been that good, don’t kid yourself.

    September 12, 2009 at 9:43 PM #456459
    HLS
    Participant

    OX..
    I’ll be waiting for your call shortly after 12 noon on Monday…
    and their rate couldn’t have been that good, don’t kid yourself.

    September 12, 2009 at 9:43 PM #456724
    HLS
    Participant

    OX..
    I’ll be waiting for your call shortly after 12 noon on Monday…
    and their rate couldn’t have been that good, don’t kid yourself.

    September 12, 2009 at 10:23 PM #456547
    Deserted
    Participant

    HLS, I must disagree.

    The Federal Good Faith Estimate form was specifically enacted into law to prevent the exact “bait and switch” tactic that B of A attempted to perpetrate in my case.

    Although “estimates” for such items as title insurance, overpayments (or underpayments) on the prior loan due to the timing of the closing, and other costs not under the control of the lender are obviously “estimates”, the financial terms of the lender must be accurate.

    Once one applies for a new mortgage and one’s credit is run, pretty much forget about going to another source for a loan. So you are locked in with the lender and they know it. The Federal law enacting the Good Faith Estimate was a small battle won against the banking industry. I guess their lobbyists were on vacation that week.

    And I wouldn’t gloat about mortgage brokers being exempt from this same behavior. I helped a friend review her her re-fi about 2 years ago where the mortgage broker tried to rip her off for about 2 points. In fact, I went to B of A because I had an excellent mortgage experience with them 5 years ago. I guess TARP has caused them to WARP.

    September 12, 2009 at 10:23 PM #456739
    Deserted
    Participant

    HLS, I must disagree.

    The Federal Good Faith Estimate form was specifically enacted into law to prevent the exact “bait and switch” tactic that B of A attempted to perpetrate in my case.

    Although “estimates” for such items as title insurance, overpayments (or underpayments) on the prior loan due to the timing of the closing, and other costs not under the control of the lender are obviously “estimates”, the financial terms of the lender must be accurate.

    Once one applies for a new mortgage and one’s credit is run, pretty much forget about going to another source for a loan. So you are locked in with the lender and they know it. The Federal law enacting the Good Faith Estimate was a small battle won against the banking industry. I guess their lobbyists were on vacation that week.

    And I wouldn’t gloat about mortgage brokers being exempt from this same behavior. I helped a friend review her her re-fi about 2 years ago where the mortgage broker tried to rip her off for about 2 points. In fact, I went to B of A because I had an excellent mortgage experience with them 5 years ago. I guess TARP has caused them to WARP.

    September 12, 2009 at 10:23 PM #456474
    Deserted
    Participant

    HLS, I must disagree.

    The Federal Good Faith Estimate form was specifically enacted into law to prevent the exact “bait and switch” tactic that B of A attempted to perpetrate in my case.

    Although “estimates” for such items as title insurance, overpayments (or underpayments) on the prior loan due to the timing of the closing, and other costs not under the control of the lender are obviously “estimates”, the financial terms of the lender must be accurate.

    Once one applies for a new mortgage and one’s credit is run, pretty much forget about going to another source for a loan. So you are locked in with the lender and they know it. The Federal law enacting the Good Faith Estimate was a small battle won against the banking industry. I guess their lobbyists were on vacation that week.

    And I wouldn’t gloat about mortgage brokers being exempt from this same behavior. I helped a friend review her her re-fi about 2 years ago where the mortgage broker tried to rip her off for about 2 points. In fact, I went to B of A because I had an excellent mortgage experience with them 5 years ago. I guess TARP has caused them to WARP.

    September 12, 2009 at 10:23 PM #456139
    Deserted
    Participant

    HLS, I must disagree.

    The Federal Good Faith Estimate form was specifically enacted into law to prevent the exact “bait and switch” tactic that B of A attempted to perpetrate in my case.

    Although “estimates” for such items as title insurance, overpayments (or underpayments) on the prior loan due to the timing of the closing, and other costs not under the control of the lender are obviously “estimates”, the financial terms of the lender must be accurate.

    Once one applies for a new mortgage and one’s credit is run, pretty much forget about going to another source for a loan. So you are locked in with the lender and they know it. The Federal law enacting the Good Faith Estimate was a small battle won against the banking industry. I guess their lobbyists were on vacation that week.

    And I wouldn’t gloat about mortgage brokers being exempt from this same behavior. I helped a friend review her her re-fi about 2 years ago where the mortgage broker tried to rip her off for about 2 points. In fact, I went to B of A because I had an excellent mortgage experience with them 5 years ago. I guess TARP has caused them to WARP.

    September 12, 2009 at 10:23 PM #455945
    Deserted
    Participant

    HLS, I must disagree.

    The Federal Good Faith Estimate form was specifically enacted into law to prevent the exact “bait and switch” tactic that B of A attempted to perpetrate in my case.

    Although “estimates” for such items as title insurance, overpayments (or underpayments) on the prior loan due to the timing of the closing, and other costs not under the control of the lender are obviously “estimates”, the financial terms of the lender must be accurate.

    Once one applies for a new mortgage and one’s credit is run, pretty much forget about going to another source for a loan. So you are locked in with the lender and they know it. The Federal law enacting the Good Faith Estimate was a small battle won against the banking industry. I guess their lobbyists were on vacation that week.

    And I wouldn’t gloat about mortgage brokers being exempt from this same behavior. I helped a friend review her her re-fi about 2 years ago where the mortgage broker tried to rip her off for about 2 points. In fact, I went to B of A because I had an excellent mortgage experience with them 5 years ago. I guess TARP has caused them to WARP.

    September 12, 2009 at 10:43 PM #456566
    Raybyrnes
    Participant

    The Mortgage Professor
    http://www.mtgprofessor.com/A%20-%20UMLs/list_of_upfront_mortgage_lenders.htm

    I like this guys web site and the links and spread sheets he provides .
    home » mortgage rates.
    I believed his up front lenders are very similar to HLS

    You need to quailfy for a loan but here was some advertised rates for loans.

    Amersave
    Today’s Mortgage Rates
    September 11, 2009
    Loans up to $417,000 Rate APR
    30 Year Fixed 4.250 4.604
    15 Year Fixed 3.750 4.463
    FHA Rates Rate APR
    30 Year Fixed 4.500 5.021
    15 Year Fixed 4.250 4.734

    AHC Lending
    oan Program Rates APR

    30 Year Fixed Rate Mortgage 4.250% 4.522%
    15 Year Fixed Rate Mortgage 4.125% 4.666%
    5/1 Adjustable Rate Mortgage 2.875% 7.963%
    30 Year Fixed Rate FHA 4.625% 4.897%

    September 12, 2009 at 10:43 PM #455964
    Raybyrnes
    Participant

    The Mortgage Professor
    http://www.mtgprofessor.com/A%20-%20UMLs/list_of_upfront_mortgage_lenders.htm

    I like this guys web site and the links and spread sheets he provides .
    home » mortgage rates.
    I believed his up front lenders are very similar to HLS

    You need to quailfy for a loan but here was some advertised rates for loans.

    Amersave
    Today’s Mortgage Rates
    September 11, 2009
    Loans up to $417,000 Rate APR
    30 Year Fixed 4.250 4.604
    15 Year Fixed 3.750 4.463
    FHA Rates Rate APR
    30 Year Fixed 4.500 5.021
    15 Year Fixed 4.250 4.734

    AHC Lending
    oan Program Rates APR

    30 Year Fixed Rate Mortgage 4.250% 4.522%
    15 Year Fixed Rate Mortgage 4.125% 4.666%
    5/1 Adjustable Rate Mortgage 2.875% 7.963%
    30 Year Fixed Rate FHA 4.625% 4.897%

    September 12, 2009 at 10:43 PM #456760
    Raybyrnes
    Participant

    The Mortgage Professor
    http://www.mtgprofessor.com/A%20-%20UMLs/list_of_upfront_mortgage_lenders.htm

    I like this guys web site and the links and spread sheets he provides .
    home » mortgage rates.
    I believed his up front lenders are very similar to HLS

    You need to quailfy for a loan but here was some advertised rates for loans.

    Amersave
    Today’s Mortgage Rates
    September 11, 2009
    Loans up to $417,000 Rate APR
    30 Year Fixed 4.250 4.604
    15 Year Fixed 3.750 4.463
    FHA Rates Rate APR
    30 Year Fixed 4.500 5.021
    15 Year Fixed 4.250 4.734

    AHC Lending
    oan Program Rates APR

    30 Year Fixed Rate Mortgage 4.250% 4.522%
    15 Year Fixed Rate Mortgage 4.125% 4.666%
    5/1 Adjustable Rate Mortgage 2.875% 7.963%
    30 Year Fixed Rate FHA 4.625% 4.897%

    September 12, 2009 at 10:43 PM #456494
    Raybyrnes
    Participant

    The Mortgage Professor
    http://www.mtgprofessor.com/A%20-%20UMLs/list_of_upfront_mortgage_lenders.htm

    I like this guys web site and the links and spread sheets he provides .
    home » mortgage rates.
    I believed his up front lenders are very similar to HLS

    You need to quailfy for a loan but here was some advertised rates for loans.

    Amersave
    Today’s Mortgage Rates
    September 11, 2009
    Loans up to $417,000 Rate APR
    30 Year Fixed 4.250 4.604
    15 Year Fixed 3.750 4.463
    FHA Rates Rate APR
    30 Year Fixed 4.500 5.021
    15 Year Fixed 4.250 4.734

    AHC Lending
    oan Program Rates APR

    30 Year Fixed Rate Mortgage 4.250% 4.522%
    15 Year Fixed Rate Mortgage 4.125% 4.666%
    5/1 Adjustable Rate Mortgage 2.875% 7.963%
    30 Year Fixed Rate FHA 4.625% 4.897%

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