Beware of a mortgage originator/broker called Foundation Financial. In a recent attempt to shop around for a refi to 15, I unfortunatley ran across this "company" that promisis to complete the process within 15 day. In doing so they employee the following tactics:
1. Aggressive phone calls (daily, usually during dinner)
2. Intense questioning of your personal life.
3. Intense questioning of your spouse if they happen to connect with them via phone.
4. A strong push toward FHA loans and the requisite mortgage insurance. It looks as though they get a kickback or other type of largess from this arrangement.
5. They are VERY pushy and speak as if they know everything about the mortgage business (I dealt with young people who didn't have a clue about money). It was a very scripted affair.
6. Enourmous closing costs in the range or $15,000.00 on a modest refi.
7. Did I say extremely pushy? Well, I'll say it again.
8. The placement of deadlines to make you feel like you have to commit now.
9. Money up front for a propery valuation...$409.00
10. Resistance on giving a good faith estimate BEFORE you give them money.
Also I'd like to add that they lead their initial conversation with the fact they are listed by the BBB as having an A+ rating. In my opinion, when a company does that you should run away. The BBB is a business that relies on membership. If you pay the fee, you will get an A+ rating. The BBB is equally corrupt.
I did not give Foundation Financial any money and hope this deters you from as well.