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working with honest ethical people is the only way to go. If you feel you have that with your loan officer, then you'll probably do fine.
Countrywide operates an amazing platform; the fact that their company has been in the news shouldn;t negatively effect your decision whether or not to use them.
On a side note; zillow has recently created a easy to use mortgage marketplace that you should consider trying. Even if you decide to stay with the countrywide rep; you'll certainly have a better view of the loan costs and rates available to you in the competitive marketplace.
KennyD,
Your "mortgage guy" mad e a "switch to Countrywide". I am not saying he is bad. I am saying he knowingly went to work for Countrywide amidst the unbelievable fall from grace. I was set up with them in the 90's and they were the "Cat's Meow" and it was a privilege to work with them. Grred and the market has changed it so much that I was approached by them to rekindle our relationship and I have put out a survey to my clients asking them if they would be opposed to me "selling their "A" paper loan to Countrywide. The answer is/was yes. The main reason was about fears about servicing issues, etc. Your loan will be fine, but I would attmept to get a "fair" and unbiased quote from a rival and ask the question to him: "Dude, .... Why?" If his answer is: "Well, I might think about leaving here and applying with WAMU instead...... he's got problems... Not slamming him, but we in the know, know that WAMU AND CFC are just getting taken behind the shed and will not survive by themselves.. They have been receiving CASH injections like morphine to a dying patient. Time will tell.
Sorry about the rambling, but you shoud be able to receive the same, if not better loan from a company that will be able to place the loan with a safer servicing agent.
Good luck to you
Give me a call and I will walk you threw it...480-312-3222 Michael at AMSbank in Scottsdale
Lender rating
Since October 2009
working with a firm like Countrywide ( or any large Bank type lender ) may limit you to that firms programs and pricing .....whereas if you work with a firm that can act both as a " broker " and "banker " you should have more flexibility at finding the loan program you want/ need and a great price too .
thanks
Dave Skow
Seattle Mortgage
Lender / broker ??? it really does not make any difference.... if you trust this guy that is THE biggest concern..... this loan officer can price a loan anyway they want at any lender they work for..... always keep in mind.... that LOW rate that some unkown loan officer quoted you means nothing if they can't close the loan - sounds like you are comfortable with this guy - i say go with him daveskow makes a great point as well but that comfort level that you seem to have with the Countrywide rep says a lot...
by the way bringit9 this is not the place to be hawking your goods.... you my friend sound like a man desperate for a deal....... anyone else agree??
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kennyd75
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I am first time buyer, I got a good recommendation from a friend that used a mortgage guy 2 times already and totally trusts him. The only thing is he was with another company during that time and now he is with Countrywide. He seems very upfront and helpful. he has spent a ton of time explaining everything to me to make sure I understand all he is doing and he states all his business is through recommendations. He also offered me names and a history of people he dealt with. I guess the only question I have is, does it matter that it is Countrywide? They have been in the news alot and I am nervous. Is it more the person than the company? He gave me the best deal and it is not a crazy one, kind of in line with others. Thank you.
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