Delta Funding - Ocwen Loan - Wells Fargo Ripoff Predatory Lending Orlando Florida

Anyway, you look at the whole picture all these people can't be wrong and trust me there were a lot more than what's here now. And for your info Delta convinced her to fix an illegal basement to rent to pay this mortgage (PREDATORY LENDING!).
Put that under your tongue and chew it....

Ron,

First off, I am sorry to hear about your mothers death. That has to be hard on you for sure. I do feel that perhaps some of your anger and hurt resulting from her death are misplaced however.

I think there is alot of confusion going on concerning interest rates. I know that some rates offered by Delta may seem a bit high compared to some of the conforming products on the market. I feel however that you have not disclosed to the whole truth about your mothers situation. The question I have to ask is how much other debt was absorbed into the mortgage your mother chose? I doubt she only refinanced her existing mortgage. My guess is that some other revolving and possibly installment accounts were also paid off with the mortgage she took when she refinanced with Delta. She may have even took some cash out of her equity. She probably had a payment reduction, now I am not talking specifically her old mortgage compared to her new mortgage she got with Delta. I am guessing that her new mortgage payment was probably hundreds less than her combined debt that was absorbed into the mortgage she chose.

Maybe you are just like many consumers who feel like the best interest rate is the best loan. This is the furthest thing from the truth most times. Most consumers who utilize non conforming products were paying much more interest than 12 percent on their total debt load. I bet you are one of them as most Americans are. Let me ask you a question, which is better? A 30 year fixed rate mortgage that you have been paying for 8 years with an interest rate of 6 percent + 15,000 dollars in revolving credit card debt with rates as high as 18 percent and a car loan with a rate of 9.9 percent or a or a 22 year fixed rate mortgage that pays off those credit cards and auto loan while lowering your total monthly debt by two hundred dollars a month with a 12 percent interest rate? If you do the math you will see that situation 2 is much better than situation one. It does not take a math wiz to figure this one out. Most people have credit card debt that they have been paying on for over 15 years yet they don't complain about the 16 percent interest on that and will never get out of that particular debt because as soon as they pay it down they charge it right back up..........and Delta is the Preditory Lender? Take a closer look at your Discover card and do some math and you tell me who is ripping off people? I like to call it the FOREVER card.

I for one have integrity and morals and would never originate a loan that does not benefit the borrower and most of the employees I work are the same. People are people and there are bad ones in every bunch.

We are programmed to think all about interest rate when choosing a mortgage product. So I understand why you noticing a higher than usual interst rate on your mothers mortgage would have you upset but I am asking you to look at the total picture. I see many borrowers who just refinance their mortgage because the interest rate goes down two percent. Well they also get stretched back out to 30 years losing all the years they paid before refinancing. It may save them a couple hundred bucks a month yet they lose that 2 percent of tax right offs and it takes them that much longer to get back the money they lost when they refinanced so that is in most cases not a better but a worse loan than the one they had to begin with.

So before you bash a company and blame them for issues like alcoholism, which has nothing to do with a company selling a mortgage product. Do a little math and look at the WHOLE picture not just a rate. A rate doesn't mean anything and certainly is no indicator of a better loan. That's like saying a car that costs the least is the best car when we know that is not even close to the truth. Many times you get what you paid for and if you had a better understanding of mortgage and banking you would see that most times the lowest interest rate is the worste product you could have. Consumers are driven by perception and advertising. They are programmed rate rate rate. Did you know that most of Deltas products don't require PMI? What about that? Also did you know they usually don't require to escrow Taxes and Insurance? What about that? Did you know that over 80 percent of borrowers from Delta recieve checks at closing for several thousand dollars? What about that? Do you know that delta actually requires almost all other debts to be paid off as part of their loan packages? It's not Deltas fault if they pay off those 10 credit cards and you charge em right back up to their limit is it? I always do my best to offer financial solutions and raise peoples income buy lowering their TOTAL debt load and I will never feel bad about doing it. I can lead a horse to water but cannot make them drink. I can say with 100 percent certainty that any loan that I have originated has put my customers in a better financial situation the day they closed. Do they usually pay higher fees? In alot of cases yes. Do they usually have a bit higher interest than a conforming bank. Yes, I am sure most do. When they walk into a conforming bank do they get the flexibility that I offer by customizing a loan specifically for them? Probably not. Should I get paid a little more than the LO who says fill this out and sign and approves it or denies it? ABSOLUTELY. I spend countless hours analyzing my borrowers debt/income/equity and their wants and needs. I should do that for free? I think not. Why does a Mercedes cost more than a Chevy? Why does a custom built house cost more than a cookie cutter track house?

Think about all of these things before you just start bad mouthing a loan or a company you don't know anything about.

What you are essentially saying is your mom walked onto a Mercedes lot and got everything she wanted but not being able to afford the payment caused her to die therefore it is Mercedes fault even though they are in Germany. I don't know the details of your mothers loan and there is a chance that she had a bad loan originator. Imagine if we judged every company based on one employee? Maybe you should stop using the postal system , you know one of their employees shot up a bunch of coworkers one time. Don't call the police because they will beat you up like Rodney King.

I for one think Delta is an excellent place to work and know that they have excellent products in fact better than most. FYI my own mortgage is held by Ocwen.........another FYI they are rated 4 stars by Standard and Poors.......please check your facts.

Ron,

First off, I am sorry to hear about your mothers death. That has to be hard on you for sure. I do feel that perhaps some of your anger and hurt resulting from her death are misplaced however.

I think there is alot of confusion going on concerning interest rates. I know that some rates offered by Delta may seem a bit high compared to some of the conforming products on the market. I feel however that you have not disclosed to the whole truth about your mothers situation. The question I have to ask is how much other debt was absorbed into the mortgage your mother chose? I doubt she only refinanced her existing mortgage. My guess is that some other revolving and possibly installment accounts were also paid off with the mortgage she took when she refinanced with Delta. She may have even took some cash out of her equity. She probably had a payment reduction, now I am not talking specifically her old mortgage compared to her new mortgage she got with Delta. I am guessing that her new mortgage payment was probably hundreds less than her combined debt that was absorbed into the mortgage she chose.

Maybe you are just like many consumers who feel like the best interest rate is the best loan. This is the furthest thing from the truth most times. Most consumers who utilize non conforming products were paying much more interest than 12 percent on their total debt load. I bet you are one of them as most Americans are. Let me ask you a question, which is better? A 30 year fixed rate mortgage that you have been paying for 8 years with an interest rate of 6 percent + 15,000 dollars in revolving credit card debt with rates as high as 18 percent and a car loan with a rate of 9.9 percent or a or a 22 year fixed rate mortgage that pays off those credit cards and auto loan while lowering your total monthly debt by two hundred dollars a month with a 12 percent interest rate? If you do the math you will see that situation 2 is much better than situation one. It does not take a math wiz to figure this one out. Most people have credit card debt that they have been paying on for over 15 years yet they don't complain about the 16 percent interest on that and will never get out of that particular debt because as soon as they pay it down they charge it right back up..........and Delta is the Preditory Lender? Take a closer look at your Discover card and do some math and you tell me who is ripping off people? I like to call it the FOREVER card.

I for one have integrity and morals and would never originate a loan that does not benefit the borrower and most of the employees I work are the same. People are people and there are bad ones in every bunch.

We are programmed to think all about interest rate when choosing a mortgage product. So I understand why you noticing a higher than usual interst rate on your mothers mortgage would have you upset but I am asking you to look at the total picture. I see many borrowers who just refinance their mortgage because the interest rate goes down two percent. Well they also get stretched back out to 30 years losing all the years they paid before refinancing. It may save them a couple hundred bucks a month yet they lose that 2 percent of tax right offs and it takes them that much longer to get back the money they lost when they refinanced so that is in most cases not a better but a worse loan than the one they had to begin with.

So before you bash a company and blame them for issues like alcoholism, which has nothing to do with a company selling a mortgage product. Do a little math and look at the WHOLE picture not just a rate. A rate doesn't mean anything and certainly is no indicator of a better loan. That's like saying a car that costs the least is the best car when we know that is not even close to the truth. Many times you get what you paid for and if you had a better understanding of mortgage and banking you would see that most times the lowest interest rate is the worste product you could have. Consumers are driven by perception and advertising. They are programmed rate rate rate. Did you know that most of Deltas products don't require PMI? What about that? Also did you know they usually don't require to escrow Taxes and Insurance? What about that? Did you know that over 80 percent of borrowers from Delta recieve checks at closing for several thousand dollars? What about that? Do you know that delta actually requires almost all other debts to be paid off as part of their loan packages? It's not Deltas fault if they pay off those 10 credit cards and you charge em right back up to their limit is it? I always do my best to offer financial solutions and raise peoples income buy lowering their TOTAL debt load and I will never feel bad about doing it. I can lead a horse to water but cannot make them drink. I can say with 100 percent certainty that any loan that I have originated has put my customers in a better financial situation the day they closed. Do they usually pay higher fees? In alot of cases yes. Do they usually have a bit higher interest than a conforming bank. Yes, I am sure most do. When they walk into a conforming bank do they get the flexibility that I offer by customizing a loan specifically for them? Probably not. Should I get paid a little more than the LO who says fill this out and sign and approves it or denies it? ABSOLUTELY. I spend countless hours analyzing my borrowers debt/income/equity and their wants and needs. I should do that for free? I think not. Why does a Mercedes cost more than a Chevy? Why does a custom built house cost more than a cookie cutter track house?

Think about all of these things before you just start bad mouthing a loan or a company you don't know anything about.

What you are essentially saying is your mom walked onto a Mercedes lot and got everything she wanted but not being able to afford the payment caused her to die therefore it is Mercedes fault even though they are in Germany. I don't know the details of your mothers loan and there is a chance that she had a bad loan originator. Imagine if we judged every company based on one employee? Maybe you should stop using the postal system , you know one of their employees shot up a bunch of coworkers one time. Don't call the police because they will beat you up like Rodney King.

I for one think Delta is an excellent place to work and know that they have excellent products in fact better than most. FYI my own mortgage is held by Ocwen.........another FYI they are rated 4 stars by Standard and Poors.......please check your facts.

Ron,

First off, I am sorry to hear about your mothers death. That has to be hard on you for sure. I do feel that perhaps some of your anger and hurt resulting from her death are misplaced however.

I think there is alot of confusion going on concerning interest rates. I know that some rates offered by Delta may seem a bit high compared to some of the conforming products on the market. I feel however that you have not disclosed to the whole truth about your mothers situation. The question I have to ask is how much other debt was absorbed into the mortgage your mother chose? I doubt she only refinanced her existing mortgage. My guess is that some other revolving and possibly installment accounts were also paid off with the mortgage she took when she refinanced with Delta. She may have even took some cash out of her equity. She probably had a payment reduction, now I am not talking specifically her old mortgage compared to her new mortgage she got with Delta. I am guessing that her new mortgage payment was probably hundreds less than her combined debt that was absorbed into the mortgage she chose.

Maybe you are just like many consumers who feel like the best interest rate is the best loan. This is the furthest thing from the truth most times. Most consumers who utilize non conforming products were paying much more interest than 12 percent on their total debt load. I bet you are one of them as most Americans are. Let me ask you a question, which is better? A 30 year fixed rate mortgage that you have been paying for 8 years with an interest rate of 6 percent + 15,000 dollars in revolving credit card debt with rates as high as 18 percent and a car loan with a rate of 9.9 percent or a or a 22 year fixed rate mortgage that pays off those credit cards and auto loan while lowering your total monthly debt by two hundred dollars a month with a 12 percent interest rate? If you do the math you will see that situation 2 is much better than situation one. It does not take a math wiz to figure this one out. Most people have credit card debt that they have been paying on for over 15 years yet they don't complain about the 16 percent interest on that and will never get out of that particular debt because as soon as they pay it down they charge it right back up..........and Delta is the Preditory Lender? Take a closer look at your Discover card and do some math and you tell me who is ripping off people? I like to call it the FOREVER card.

I for one have integrity and morals and would never originate a loan that does not benefit the borrower and most of the employees I work are the same. People are people and there are bad ones in every bunch.

We are programmed to think all about interest rate when choosing a mortgage product. So I understand why you noticing a higher than usual interst rate on your mothers mortgage would have you upset but I am asking you to look at the total picture. I see many borrowers who just refinance their mortgage because the interest rate goes down two percent. Well they also get stretched back out to 30 years losing all the years they paid before refinancing. It may save them a couple hundred bucks a month yet they lose that 2 percent of tax right offs and it takes them that much longer to get back the money they lost when they refinanced so that is in most cases not a better but a worse loan than the one they had to begin with.

So before you bash a company and blame them for issues like alcoholism, which has nothing to do with a company selling a mortgage product. Do a little math and look at the WHOLE picture not just a rate. A rate doesn't mean anything and certainly is no indicator of a better loan. That's like saying a car that costs the least is the best car when we know that is not even close to the truth. Many times you get what you paid for and if you had a better understanding of mortgage and banking you would see that most times the lowest interest rate is the worste product you could have. Consumers are driven by perception and advertising. They are programmed rate rate rate. Did you know that most of Deltas products don't require PMI? What about that? Also did you know they usually don't require to escrow Taxes and Insurance? What about that? Did you know that over 80 percent of borrowers from Delta recieve checks at closing for several thousand dollars? What about that? Do you know that delta actually requires almost all other debts to be paid off as part of their loan packages? It's not Deltas fault if they pay off those 10 credit cards and you charge em right back up to their limit is it? I always do my best to offer financial solutions and raise peoples income buy lowering their TOTAL debt load and I will never feel bad about doing it. I can lead a horse to water but cannot make them drink. I can say with 100 percent certainty that any loan that I have originated has put my customers in a better financial situation the day they closed. Do they usually pay higher fees? In alot of cases yes. Do they usually have a bit higher interest than a conforming bank. Yes, I am sure most do. When they walk into a conforming bank do they get the flexibility that I offer by customizing a loan specifically for them? Probably not. Should I get paid a little more than the LO who says fill this out and sign and approves it or denies it? ABSOLUTELY. I spend countless hours analyzing my borrowers debt/income/equity and their wants and needs. I should do that for free? I think not. Why does a Mercedes cost more than a Chevy? Why does a custom built house cost more than a cookie cutter track house?

Think about all of these things before you just start bad mouthing a loan or a company you don't know anything about.

What you are essentially saying is your mom walked onto a Mercedes lot and got everything she wanted but not being able to afford the payment caused her to die therefore it is Mercedes fault even though they are in Germany. I don't know the details of your mothers loan and there is a chance that she had a bad loan originator. Imagine if we judged every company based on one employee? Maybe you should stop using the postal system , you know one of their employees shot up a bunch of coworkers one time. Don't call the police because they will beat you up like Rodney King.

I for one think Delta is an excellent place to work and know that they have excellent products in fact better than most. FYI my own mortgage is held by Ocwen.........another FYI they are rated 4 stars by Standard and Poors.......please check your facts.