Beware this outfit. There are several ways they have set up the scam to get you. First, they'll mess up the paperwork-I am ready to close a loan with them and discovered things on the documentation that I didn't say and certainly didn't agree to. Second, they are EXTREMELY conservative on the appraisals-to the point where it may cause problems funding your loan so that they can hit you with an extra point or so in fees to 'help you out'. Third, the mortgage rate they agree to is sometimes impossible for them to get-again, they'll charge you anywhere from a half point to a point because 'the numbers don't work'. Fourth, you feel like you're dealing with a used car salesman when you get done and you want to go take a shower because you feel a little scuzzy after the whole transaction. Fifth, they loan at 75% LTV, not 80% like everyone else. When you combine that with a LOW appraisal, it's really more like 65% loan to value. Not many people can refi at that level. Most need closer to the 80% level.
These guys are really suspect. To boot, the BBB gives them an A- rating. Go figure. You gotta wonder who has naked pictures on who to get that rating and allow them to conduct business the way they do. This little twink started playing his games this morning and then called back to try it again this afternoon. I fully expect them to default and I will lose my money for the appraisal and credit check. They guaranteed a rate they cannot fund(I have it in writing) and now they're playing games trying to figure out how to get it done in the capital markets. Idiots. Perfect example of how that industry got the bad name it has. They had better get this deal done or I will make it my personal hobby to drag their names through the mud everywhere I can.