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Looking to refi, who should I go with?

I need to refinance, my rate is 6.375, and dragging me down, I understand there are a lot of scammers out there, and I would love to avoid them.  I just took a look at Google Advisor and there "seem" to be some good deals but I don't want to pay ignorance penalties, for not doing my homework. The top 4 companies on the list were Aimloan, BNC National Bank, Round Point Mortgage Company, and First Internet Bank. Does any one know anything about these companies, how do I find out if they're reputable, If they are not where can I find one that is. Thank you for your time.
  • June 09 2011 - Broad Brook
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Answers (10)

In response to on-line lending.

Almost everyone in the mortgage industry is an on-line lender. Every major bank and most brokerages have an on-line presence with an on-line mortgage application. Even those that have a website that cannot budget for a secure on-line application module are still are an on-line mortgage retailer.

Happy funding, Rudi
  • June 21 2011
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Yes, absolutely call a REALTOR when you need a refinance, they know absolutely everything about refinancing and will direct you to the exact person that best fits your financial profile and goals. 

Also, make sure you see a butcher when looking for a podiatrist. They work with cows feet and pigs feet, thus they are uniquely qualified to recommend anyone or anything foot related.
  • June 20 2011
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I would call a realtor if you know one locally and ask them for a recommendation for a lender.
  • June 20 2011
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All I got out of that is Deborah admitted she had no clue what she was doing when she was an "on-line" lender and somehow she projects that to the whole industry.

As BKJH points  out, she's still an on-line lender. The cluelessness continues???
  • June 20 2011
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How can someone that posts on this forum not know who RoundPoint is?
  • June 20 2011
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"(I believe I am qualified to make this comment having worked as an online loan consultant for five years...I am no longer an internet lender, btw.)"

Comments like these always fascinate me.

You have a website, you have a profile here on Zillow and you are actively soliciting business from the internet. Your website has an application to take information over the internet. You state in your profile:

"Let us show you how to increase your SEO through facebook, Twitter, Linkedin, written and video blogging."

What do you need increased SEO for unless you were seeking internet business?

You are also licensed in California and I assume that you do business in all areas of that very large state so you use the internet to facilitate this.

How exactly can you state that you are not an internet lender and what is your definition of one? 
  • June 20 2011
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What about the person that originated the loan you currently have?

Happy funding,  Rudi
  • June 20 2011
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I have heard of everyone except Round Point...and, I have heard good and bad.  If you have great credit, lots of equity and very simple financials you can probably shop the internet and get the very best interest rate and lowest closing costs possilbe. However, if there is ANYTHING out of excellent on your profile you should contact a local lender.

Contrary to some opinions, not all online lenders are bad...but they do not provide the support or systems for complicated refinances or (IMHO) any purchase transactions.  (I believe I am qualified to make this comment having worked as an online loan consultant for five years...I am no longer an internet lender, btw.)
  • June 20 2011
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I handle a significant number of closings in CT and I've never heard of *any* of the mortgage banks you just mentioned.  That doesn't mean they're bad places to go, though.  If you can get good service and a good rate from them, by all means, go to them.

I've had success lately with MetLife Home Loans.  If you're looking for a reference, contact me and I'll supply one.  I know a very good agent at MetLife.  Obviously I'd love to handle the closing side of your loan, regardless of where you go.  Feel free to contact me for further advice.



This is not legal advice and is not intended to create an attorney-client relationship.  The post is only an opinion.  You should speak to an attorney for further information.  The poster is licensed only in CT & NY.    If this post is useful to you, please remember to upvote it.

  • June 19 2011
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My 2 cents, take some time to read over some Zillow profiles and see if anyone catchs your eye, contact them via email or give them a call and start a conversation.  The lenders you list above have their positives and negatives just like anyone.  The reason I say read some profiles and talk with some mortgage professionals is trust is very big, as much as the rate.  Rates can change, each lender can be different by .125 or .25 and that also can change daily.  What can't change is the relationship you build or the gut feeling you have about the person.  I hope it all works out for you , if you have any specific questions shoot me an email via my profile.

Good luck in your loan search
  • June 09 2011
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