Best Mortgage Companies

[M.D. Holloway]

We have a friend moving to the area. The house (s) are picked out - save his wifes approval. They are not first time buyers but it has been several years. Who are the latest, greatest players in the mortgage world now. We used Merrill Lynch but I am sure that there are better ones out there for them. Any experiences? What about the on-line mortgage brkers?

[Joeaksa]

Use the morgage company you are using now if you are happy with them. Call them and say you are moving and quote me in the new city with no extra points or such.

Worked with me the last two times. Using Abn Amro.

[David in VA]

I've had pretty good service with National City. Whatever you do do not work with Chase. They are the absolute worst company I've ever had the misfortune to work with. Their customer service is so bad it's almost comical if it weren't so frustrating.

[NICKG]

Originally posted by David in VA
I've had pretty good service with National City. Whatever you do do not work with Chase. They are the absolute worst company I've ever had the misfortune to work with. Their customer service is so bad it's almost comical if it weren't so frustrating.

thanks...my mortgage just transferred to chase after they bought the bank of new york out...i was hoping they would not suck

[David in VA]

Same thing happened to me twice, hope it goes better for you.

[ben parrish]

As far as not being first time buyers, tell them to question the brokers on differnt programs. I believe that you can qualify for first time homeowner if you have not had a mortage for two years.
Ben

[Big Ed]

I see lots of very questionable players in the online world, I'd avoid that. In my neck of the woods, the best rates & lowest fees are the small town banks who keep all their loans in house. I find the much easier to deal with, as opposed to the loans brokered (usually it seems from CA somewhere) who discover the day of closing that they need a secondary appraisal or some other crap from the borrower, and everything gets delayed accordingly.

It is sick how often the above happens. I fully believe that many of the big lenders underwriting departments do not review the application until closing is imminent. Always makes for a fun time when 2 families have their stuff on respective moving trucks.

[RANDY P]

yep. It's a problem they usually QC the loan before funding - the reason being is that even the small banks sell off loans - they're underwritten to FNMA or whomever's guidelines in the event they need to sell them. Somebody always checks the loans, determines something needed to sell off the loan is missing, then you get your headache.

The trick, is finding a good enough Mortgage guy who can spot what they're gonna need before they ask for it.

rjp

[john70t]

Originally posted by NICKG
thanks...my mortgage just transferred to chase after they bought the bank of new york out...i was hoping they would not suck

That explains it. Thx.
I had some gifted stocks at BoNY sitting untouched for 35 years in a re-investment fund. Then I suddenly got a notice that they were "abandoned" and were being confiscated.
Even after my broker(a major firm) filed the paperwork for complete ownership claim and transfer, the "new" BoNY people thought that they were the controlling party in the matter. It took several rounds before they did what they were supposed to do.

[madmmac]

Give Arboretum a call. Ask for Mark Simpson.

Every person I have advised to talk with him have saved money and went with them.

He continues to constantly monitor your current rates and will give you a phone call when he can save you even more $$'s later down the road.

Professional and painless


http://www.arboretummortgage.com/

800-860-9330

[RickM]

You may want to check any of the Federal Credit Unions in your area. If your friends don't belong to one they may be able to get in through an existing member. Membership requirements are quite lax nowadays.