Will someone from Zillow ...

Contributions: 3589

Q&A

:358
Disc

:284
Photos

:2947

Zillow All-Star

Since April 2009

APR Lower than Rate from Robo-Qouters

Problem continues..........

Borrower beware......

Flag content

May 18

Rudi Hofmann, "CA UMB"
Contributions: 2771

Rudi Hofmann, "CA UMB"

Mortgage Lender

Lender rating

5.0/5.0

Contributions: 2771

Q&A

:1650
Disc

:1090
Photos

:31

Zillow All-Star

Since January 2009

Here's another one for you Chip. .... Rudi

Flag content

May 13

Clay Branch, "Georgia Loans"
Contributions: 3640

Mortgage Lender

Lender rating

5.0/5.0

Contributions: 3640

Q&A

:1979
Disc

:1660
Photos

:1

Zillow All-Star

Since January 2009

Chip Streater, "TarheelChip"

What I see form Gregorio's latest example are notes from the lender SELLING themselves with key words such as consumer advocates, honest, ethical, upfront, no hidden fees, certified upfront.., what I dont see is a note saying " The APR expressed on FHA loans on Zillow are not calculating correctly, please contact us for the correct APR ". That would be UPFRONT.

Zillow, have you noticed the robo quotes with the worst APR are also the ones that display the UFMIP fee a 2nd time on line 817. It is not an 800 fee.
These autoquotes should be stopped until the problem is fixed. It is defeating the whole concept of Zillow's transparency and accuracy.

Flag content

May 13

Chip Streater, "TarheelChip"
Contributions: 3589

Tega Cay, SC

Mortgage Lender

Lender rating

5.0/5.0

Contributions: 3589

Q&A

:358
Disc

:284
Photos

:2947

Zillow All-Star

Since April 2009

I'd like to dedicate this picture to the consumers shopping mortgages based off the Zillow Calculated APR.

Flag content

May 13

Gregorio Denny, "WeFixRates.Com"
Contributions: 3565

Mortgage Lender

Lender rating

5.0/5.0

Contributions: 3565

Q&A

:1377
Disc

:2137
Photos

:51

Zillow All-Star

Since January 2009

Greg Darlin, "Greg Darlin"

Example.

This makes zero sense and no one seems to care!

Flag content

May 12

Greg Darlin, "Greg Darlin"
Contributions: 3174

Mortgage Lender

Lender rating

5.0/5.0

Contributions: 3174

Q&A

:714
Disc

:2460

Zillow All-Star

Since September 2009

GVD,
I hear you.
Had a borrower from Zillow who was trying to compare the APR. I suggested to simply total up all the 800 line fees and go an apple to apples comparsion, minus out lender credits (which is a nightmare on comparing Zillow' APR at this point). No other way at this point. Whoever was the lowest, compared to the same interest rate and loan term was the best.
Zillow is not responding at this point in time . . .

Flag content

May 12

Gregorio Denny, "WeFixRates.Com"
Contributions: 3565

Mortgage Lender

Lender rating

5.0/5.0

Contributions: 3565

Q&A

:1377
Disc

:2137
Photos

:51

Zillow All-Star

Since January 2009

No Resolution and no communication from Zillow.
How long do you plan on allowing incorrect APRs to be quoted?
This is actually a disgrace and no one is doing a thing about it!

To all the lenders quoting FHA, check your quotes. Click the "see all quotes" link then sort by APR and look at the mess!

Zillow ... PLEASE FIX THIS!

Flag content

May 12

Clay Branch, "Georgia Loans"
Contributions: 3640

Mortgage Lender

Lender rating

5.0/5.0

Contributions: 3640

Q&A

:1979
Disc

:1660
Photos

:1

Zillow All-Star

Since January 2009

I spoke too soon, no miracle yet. This lenders APR on FHA quotes are still .750 too low, as of a few minutes ago.
Wrong APR

Looks like the auto quote system Ernie uses is working and the one Apex uses is screwed up.

Flag content

May 07

Clay Branch, "Georgia Loans"
Contributions: 3640

Mortgage Lender

Lender rating

5.0/5.0

Contributions: 3640

Q&A

:1979
Disc

:1660
Photos

:1

Zillow All-Star

Since January 2009

Chip Streater, "TarheelChip"

Wow, it must be a miracle, with the exception of this quote, all of Ernie's quotes for the last 6 hours ( 100 quotes ) look to have the correct APR. The FHA APR's are between .9 to 1.1 higher than the note rate, which would be correct. How did that happen? The exception is showing a low APR because the annual mortgage insurance of .50 was not added, only the UFMIP.
The Exception

The 2.5 APR quote is still mind boggling though.

Flag content

May 07

Chip Streater, "TarheelChip"
Contributions: 3589

Tega Cay, SC

Mortgage Lender

Lender rating

5.0/5.0

Contributions: 3589

Q&A

:358
Disc

:284
Photos

:2947

Zillow All-Star

Since April 2009

Nice work. 4.875% on a 30 year fix has a 2.5% APR. Sounds like some fuzzy math, to put it nicely.

Flag content

May 06

Gregorio Denny, "WeFixRates.Com"
Contributions: 3565

Mortgage Lender

Lender rating

5.0/5.0

Contributions: 3565

Q&A

:1377
Disc

:2137
Photos

:51

Zillow All-Star

Since January 2009

It's now become a who's who of cheating the system.
ZILLOW, your quoting system is broken and incorrect APRs are going out. Do you plan on doing anything about it?

Look at this one.

There is an obvious bug and some have found a way to exploit it. (3 appraisal fees is not a mistake) Do you care that these quotes are going out falsely disclosing APR?

???????

Flag content

May 06

Gregorio Denny, "WeFixRates.Com"
Contributions: 3565

Mortgage Lender

Lender rating

5.0/5.0

Contributions: 3565

Q&A

:1377
Disc

:2137
Photos

:51

Zillow All-Star

Since January 2009

Thanks Dave,

Looking back through old quotes, it seems this has been an undetected problem for a while. I know I certainly would not want my name attached to an FHA quote at 5% with $13,000 in fees with a disclosed APR of 5.094%, so hopefully this will get resolved soon. If this is an issue with the people using the API, maybe they should be alerted to check this because the FHA quotes are still going out and the APRs are off the wall. This cannot be good for the quoters, the borrowers or compliance with state laws regarding APR disclosure.

I look forward to an update when you have one.

Flag content

May 06

David Gibbons, "DavidG"
Contributions: 1046

David Gibbons, "DavidG"

Seattle

Contributions: 1046

Q&A

:235
Disc

:810
Photos

:1

Zillow All-Star

Since August 2009

Hi All,
We will get this fixed; thanks for bringing it to my attention. I'm almost certain the problem originates in the API integration but I need to confirm that before I can get back to you with the resolution.

Thanks again.

Flag content

May 06

Joe Cafiero, "jcaf1918"
Contributions: 2093

Joe Cafiero, "jcaf1918"

Mortgage Lender

Lender rating

5.0/5.0

Contributions: 2093

Q&A

:653
Disc

:1440

Zillow All-Star

Since January 2009

Yeah I would like to know what is gonig on. My spread is almost a full point.

Flag content

May 06

Gregorio Denny, "WeFixRates.Com"
Contributions: 3565

Mortgage Lender

Lender rating

5.0/5.0

Contributions: 3565

Q&A

:1377
Disc

:2137
Photos

:51

Zillow All-Star

Since January 2009

Bump

Anyone?

Flag content

May 06

Clay Branch, "Georgia Loans"
Contributions: 3640

Mortgage Lender

Lender rating

5.0/5.0

Contributions: 3640

Q&A

:1979
Disc

:1660
Photos

:1

Zillow All-Star

Since January 2009

Zillow, WTH is going on here?

Here is another one, ALSO ADDING THE UFMIP ON LINE 817, in addition to the regular insert. Could it be both of these subprimers were trained by the same person? Also an autoquoter, that is most likely the connection. His rate is 4.75 and APR is 4.783, LMAO, but it's not funny because I am quoting against him.

Flag content

May 05

Gregorio Denny, "WeFixRates.Com"
Contributions: 3565

Mortgage Lender

Lender rating

5.0/5.0

Contributions: 3565

Q&A

:1377
Disc

:2137
Photos

:51

Zillow All-Star

Since January 2009

Maybe if you sign up to auto spam ... I mean quote, you get to buy down your APR to mislead the public into thinking your quotes are not only faster, but better and thus guaranteed to be on top when sorted by APR.

Flag content

May 05

Clay Branch, "Georgia Loans"
Contributions: 3640

Mortgage Lender

Lender rating

5.0/5.0

Contributions: 3640

Q&A

:1979
Disc

:1660
Photos

:1

Zillow All-Star

Since January 2009

I did, looks like he autoquotes also, maybe 2 different companies and the other APR at 5.545% is also wrong and too low. It's really bad.

Flag content

May 05

Gregorio Denny, "WeFixRates.Com"
Contributions: 3565

Mortgage Lender

Lender rating

5.0/5.0

Contributions: 3565

Q&A

:1377
Disc

:2137
Photos

:51

Zillow All-Star

Since January 2009

Clay,

For some unknown reason, even though I am quoting the lowest rate/fee combinations, My APR is higher than most everyone else.

Hmmmmmmmmmmmm ... Why is it calculating differently for different people with the same inputs? Look at the other quote in my example ... what gives?

Flag content

May 05

Clay Branch, "Georgia Loans"
Contributions: 3640

Mortgage Lender

Lender rating

5.0/5.0

Contributions: 3640

Q&A

:1979
Disc

:1660
Photos

:1

Zillow All-Star

Since January 2009