Problems With My Loan Broker

[Raybyrnes]

HLS

I don’t neessarily disagree with you. If I were uncomfortable with my financing I would push out the dat of closing on the home. It not like there is a price war going on right now anyway.

But her is my question. With so much money on the table whay on Earth would a Broker walk away. That is eactly what they are doing. They are basically saying that the client is far too difficult to deal with.

Every single perosn on this board is questioning the reason why someone would purchase. They talk about Brokers being only in it for a buck. HLS you talk about buying down a loan which is what the loan broker reccommended but the client did not want to do this. This broker must not be in it for a buck becasue they have left all those dollars on the table and said I am not dealing with you any longer.

There are 2 sides.

[zk]

KPP,

Congratulations on finding a house you really like. Don’t let “Joice” screw it up for you. And all indications are that’s just what she’ll do.

Call Sheldon.

[zk]

KPP,

Congratulations on finding a house you really like. Don’t let “Joice” screw it up for you. And all indications are that’s just what she’ll do.

Call Sheldon.

[zk]

KPP,

Congratulations on finding a house you really like. Don’t let “Joice” screw it up for you. And all indications are that’s just what she’ll do.

Call Sheldon.

[zk]

KPP,

Congratulations on finding a house you really like. Don’t let “Joice” screw it up for you. And all indications are that’s just what she’ll do.

Call Sheldon.

[zk]

KPP,

Congratulations on finding a house you really like. Don’t let “Joice” screw it up for you. And all indications are that’s just what she’ll do.

Call Sheldon.

[HLS]

Rayb..
Nor do I disgree with you…
Based on KPP’s account,
I don’t need to “know” Joice to know that I don’t like her service…Some people are passive aggressive and know that they have their client wrapped around their finger and they aren’t going to walk, which this appears to be…but of course you are right, there are 3 sides to a 2 party story.

IF KPP truly didn’t know rates, fees and costs, then something was wrong from the beginning.
Since KPP has no idea of a rate or fee, after the tantrum it may be costing them more today than yesterday.

There are some mortgage people that say YES to everything.
(I am NOT saying this about “Joice”) They mislead people with rates, fees and programs, but keep hunting to try and get the loan done. Perhaps KPP doesn’t qualify for anything, and J has been stringing them along…
I cannot tell you why J was throwing a fit, perhaps it wasn’t the first in thsi transaction. Some people like to be abused.

For the record, KPP did email me, but said that they want to try and work it out with “Joice”…

I had a situation where I could have saved a borrower about $3,000 but he needed to pay for an appraisal at $350.
He stuck with scumbag and rewarded him because it was almost done (it had taken a month) I was still able to save borrower $1000 from scumbag.

You’d be amazed at how many people KNOW they are getting a crappy loan AND crappy service, and go ahead and sign anyway.

Buying down a loan is a personal decision that pays off in the long run, IF the loan is kept long term. It’s the same fee TO THE LENDER whether you keep the loan 2 yrs or 30 yrs.
Some people just cannot afford it, or it may not make sense if it takes 5-7 yrs to benefit from the cost.

[HLS]

Rayb..
Nor do I disgree with you…
Based on KPP’s account,
I don’t need to “know” Joice to know that I don’t like her service…Some people are passive aggressive and know that they have their client wrapped around their finger and they aren’t going to walk, which this appears to be…but of course you are right, there are 3 sides to a 2 party story.

IF KPP truly didn’t know rates, fees and costs, then something was wrong from the beginning.
Since KPP has no idea of a rate or fee, after the tantrum it may be costing them more today than yesterday.

There are some mortgage people that say YES to everything.
(I am NOT saying this about “Joice”) They mislead people with rates, fees and programs, but keep hunting to try and get the loan done. Perhaps KPP doesn’t qualify for anything, and J has been stringing them along…
I cannot tell you why J was throwing a fit, perhaps it wasn’t the first in thsi transaction. Some people like to be abused.

For the record, KPP did email me, but said that they want to try and work it out with “Joice”…

I had a situation where I could have saved a borrower about $3,000 but he needed to pay for an appraisal at $350.
He stuck with scumbag and rewarded him because it was almost done (it had taken a month) I was still able to save borrower $1000 from scumbag.

You’d be amazed at how many people KNOW they are getting a crappy loan AND crappy service, and go ahead and sign anyway.

Buying down a loan is a personal decision that pays off in the long run, IF the loan is kept long term. It’s the same fee TO THE LENDER whether you keep the loan 2 yrs or 30 yrs.
Some people just cannot afford it, or it may not make sense if it takes 5-7 yrs to benefit from the cost.

[HLS]

Rayb..
Nor do I disgree with you…
Based on KPP’s account,
I don’t need to “know” Joice to know that I don’t like her service…Some people are passive aggressive and know that they have their client wrapped around their finger and they aren’t going to walk, which this appears to be…but of course you are right, there are 3 sides to a 2 party story.

IF KPP truly didn’t know rates, fees and costs, then something was wrong from the beginning.
Since KPP has no idea of a rate or fee, after the tantrum it may be costing them more today than yesterday.

There are some mortgage people that say YES to everything.
(I am NOT saying this about “Joice”) They mislead people with rates, fees and programs, but keep hunting to try and get the loan done. Perhaps KPP doesn’t qualify for anything, and J has been stringing them along…
I cannot tell you why J was throwing a fit, perhaps it wasn’t the first in thsi transaction. Some people like to be abused.

For the record, KPP did email me, but said that they want to try and work it out with “Joice”…

I had a situation where I could have saved a borrower about $3,000 but he needed to pay for an appraisal at $350.
He stuck with scumbag and rewarded him because it was almost done (it had taken a month) I was still able to save borrower $1000 from scumbag.

You’d be amazed at how many people KNOW they are getting a crappy loan AND crappy service, and go ahead and sign anyway.

Buying down a loan is a personal decision that pays off in the long run, IF the loan is kept long term. It’s the same fee TO THE LENDER whether you keep the loan 2 yrs or 30 yrs.
Some people just cannot afford it, or it may not make sense if it takes 5-7 yrs to benefit from the cost.

[HLS]

Rayb..
Nor do I disgree with you…
Based on KPP’s account,
I don’t need to “know” Joice to know that I don’t like her service…Some people are passive aggressive and know that they have their client wrapped around their finger and they aren’t going to walk, which this appears to be…but of course you are right, there are 3 sides to a 2 party story.

IF KPP truly didn’t know rates, fees and costs, then something was wrong from the beginning.
Since KPP has no idea of a rate or fee, after the tantrum it may be costing them more today than yesterday.

There are some mortgage people that say YES to everything.
(I am NOT saying this about “Joice”) They mislead people with rates, fees and programs, but keep hunting to try and get the loan done. Perhaps KPP doesn’t qualify for anything, and J has been stringing them along…
I cannot tell you why J was throwing a fit, perhaps it wasn’t the first in thsi transaction. Some people like to be abused.

For the record, KPP did email me, but said that they want to try and work it out with “Joice”…

I had a situation where I could have saved a borrower about $3,000 but he needed to pay for an appraisal at $350.
He stuck with scumbag and rewarded him because it was almost done (it had taken a month) I was still able to save borrower $1000 from scumbag.

You’d be amazed at how many people KNOW they are getting a crappy loan AND crappy service, and go ahead and sign anyway.

Buying down a loan is a personal decision that pays off in the long run, IF the loan is kept long term. It’s the same fee TO THE LENDER whether you keep the loan 2 yrs or 30 yrs.
Some people just cannot afford it, or it may not make sense if it takes 5-7 yrs to benefit from the cost.

[HLS]

Rayb..
Nor do I disgree with you…
Based on KPP’s account,
I don’t need to “know” Joice to know that I don’t like her service…Some people are passive aggressive and know that they have their client wrapped around their finger and they aren’t going to walk, which this appears to be…but of course you are right, there are 3 sides to a 2 party story.

IF KPP truly didn’t know rates, fees and costs, then something was wrong from the beginning.
Since KPP has no idea of a rate or fee, after the tantrum it may be costing them more today than yesterday.

There are some mortgage people that say YES to everything.
(I am NOT saying this about “Joice”) They mislead people with rates, fees and programs, but keep hunting to try and get the loan done. Perhaps KPP doesn’t qualify for anything, and J has been stringing them along…
I cannot tell you why J was throwing a fit, perhaps it wasn’t the first in thsi transaction. Some people like to be abused.

For the record, KPP did email me, but said that they want to try and work it out with “Joice”…

I had a situation where I could have saved a borrower about $3,000 but he needed to pay for an appraisal at $350.
He stuck with scumbag and rewarded him because it was almost done (it had taken a month) I was still able to save borrower $1000 from scumbag.

You’d be amazed at how many people KNOW they are getting a crappy loan AND crappy service, and go ahead and sign anyway.

Buying down a loan is a personal decision that pays off in the long run, IF the loan is kept long term. It’s the same fee TO THE LENDER whether you keep the loan 2 yrs or 30 yrs.
Some people just cannot afford it, or it may not make sense if it takes 5-7 yrs to benefit from the cost.

[cooperthedog]

KPP,

Your brokers behaviour is a red flag. Even if she was having “fax problems”, she is a professional and should act accordingly. Not providing such basic information as a GFE, much less the rate, in addition to wanting to buy down the loan against your wishes, points to abuse or incompetence. You really need independent advice that neither your broker nor realtor/builder can provide. With a little research, you should be able to determine yourself whats in your best interest, if you’re getting a fair deal, etc. If you’re still unsure, consult a trusted source (e.g. attorney).

This is a *major* purchase and as such you should put alot of effort into getting the best possible rate and terms from someone who is responsive, open, and courteous. My advice to you is:

0) Terminate your relationship with Joice.

1) Notify your builder & escrow co. that you may need more time to obtain a loan from a trusted source.

2) Compare rates and fees (GFE) from 3 sources.
Ask for the par rate and obtain all quotes at COB on the same day (apples to apples). For example, get a GFE from Citibank, HLS/Sheldon, and another lender.

3) Compare loans based on APR, rate, & fees.
Keep in mind that the APR is only valid if you keep the loan to term (ie points and/or fees that lower your rate & APR, could result in a *much* higher APR if you only keep the loan for five years – asking for par rates eliminates the points aspect of the loan). Also, only “800 block” fees should be used for lender comparisons. Make sure the terms don’t have pre-payment penalties, etc.

4) Choose your lender and lock the rate.

5) Have copies of all the loan documents sent to you a day (or more) BEFORE closing. Review these and compare them to your GFE.

Best of luck!

PS – As a benchmark, compare rates/fees to an online lender, such as:

http://www.onlygreatcredit.com/defaultconforming.html
or
http://www.hartwest.com/dynamic/displayrates.asp (no CA loans)

[cooperthedog]

KPP,

Your brokers behaviour is a red flag. Even if she was having “fax problems”, she is a professional and should act accordingly. Not providing such basic information as a GFE, much less the rate, in addition to wanting to buy down the loan against your wishes, points to abuse or incompetence. You really need independent advice that neither your broker nor realtor/builder can provide. With a little research, you should be able to determine yourself whats in your best interest, if you’re getting a fair deal, etc. If you’re still unsure, consult a trusted source (e.g. attorney).

This is a *major* purchase and as such you should put alot of effort into getting the best possible rate and terms from someone who is responsive, open, and courteous. My advice to you is:

0) Terminate your relationship with Joice.

1) Notify your builder & escrow co. that you may need more time to obtain a loan from a trusted source.

2) Compare rates and fees (GFE) from 3 sources.
Ask for the par rate and obtain all quotes at COB on the same day (apples to apples). For example, get a GFE from Citibank, HLS/Sheldon, and another lender.

3) Compare loans based on APR, rate, & fees.
Keep in mind that the APR is only valid if you keep the loan to term (ie points and/or fees that lower your rate & APR, could result in a *much* higher APR if you only keep the loan for five years – asking for par rates eliminates the points aspect of the loan). Also, only “800 block” fees should be used for lender comparisons. Make sure the terms don’t have pre-payment penalties, etc.

4) Choose your lender and lock the rate.

5) Have copies of all the loan documents sent to you a day (or more) BEFORE closing. Review these and compare them to your GFE.

Best of luck!

PS – As a benchmark, compare rates/fees to an online lender, such as:

http://www.onlygreatcredit.com/defaultconforming.html
or
http://www.hartwest.com/dynamic/displayrates.asp (no CA loans)

[cooperthedog]

KPP,

Your brokers behaviour is a red flag. Even if she was having “fax problems”, she is a professional and should act accordingly. Not providing such basic information as a GFE, much less the rate, in addition to wanting to buy down the loan against your wishes, points to abuse or incompetence. You really need independent advice that neither your broker nor realtor/builder can provide. With a little research, you should be able to determine yourself whats in your best interest, if you’re getting a fair deal, etc. If you’re still unsure, consult a trusted source (e.g. attorney).

This is a *major* purchase and as such you should put alot of effort into getting the best possible rate and terms from someone who is responsive, open, and courteous. My advice to you is:

0) Terminate your relationship with Joice.

1) Notify your builder & escrow co. that you may need more time to obtain a loan from a trusted source.

2) Compare rates and fees (GFE) from 3 sources.
Ask for the par rate and obtain all quotes at COB on the same day (apples to apples). For example, get a GFE from Citibank, HLS/Sheldon, and another lender.

3) Compare loans based on APR, rate, & fees.
Keep in mind that the APR is only valid if you keep the loan to term (ie points and/or fees that lower your rate & APR, could result in a *much* higher APR if you only keep the loan for five years – asking for par rates eliminates the points aspect of the loan). Also, only “800 block” fees should be used for lender comparisons. Make sure the terms don’t have pre-payment penalties, etc.

4) Choose your lender and lock the rate.

5) Have copies of all the loan documents sent to you a day (or more) BEFORE closing. Review these and compare them to your GFE.

Best of luck!

PS – As a benchmark, compare rates/fees to an online lender, such as:

http://www.onlygreatcredit.com/defaultconforming.html
or
http://www.hartwest.com/dynamic/displayrates.asp (no CA loans)

[cooperthedog]

KPP,

Your brokers behaviour is a red flag. Even if she was having “fax problems”, she is a professional and should act accordingly. Not providing such basic information as a GFE, much less the rate, in addition to wanting to buy down the loan against your wishes, points to abuse or incompetence. You really need independent advice that neither your broker nor realtor/builder can provide. With a little research, you should be able to determine yourself whats in your best interest, if you’re getting a fair deal, etc. If you’re still unsure, consult a trusted source (e.g. attorney).

This is a *major* purchase and as such you should put alot of effort into getting the best possible rate and terms from someone who is responsive, open, and courteous. My advice to you is:

0) Terminate your relationship with Joice.

1) Notify your builder & escrow co. that you may need more time to obtain a loan from a trusted source.

2) Compare rates and fees (GFE) from 3 sources.
Ask for the par rate and obtain all quotes at COB on the same day (apples to apples). For example, get a GFE from Citibank, HLS/Sheldon, and another lender.

3) Compare loans based on APR, rate, & fees.
Keep in mind that the APR is only valid if you keep the loan to term (ie points and/or fees that lower your rate & APR, could result in a *much* higher APR if you only keep the loan for five years – asking for par rates eliminates the points aspect of the loan). Also, only “800 block” fees should be used for lender comparisons. Make sure the terms don’t have pre-payment penalties, etc.

4) Choose your lender and lock the rate.

5) Have copies of all the loan documents sent to you a day (or more) BEFORE closing. Review these and compare them to your GFE.

Best of luck!

PS – As a benchmark, compare rates/fees to an online lender, such as:

http://www.onlygreatcredit.com/defaultconforming.html
or
http://www.hartwest.com/dynamic/displayrates.asp (no CA loans)

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