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Answers (20)
- Clay Branch, "Georgia Loans"
- Contributions:7839
Ok, we'll call it a refinance. Emery, your turn.
" $300K loan amount, 75 LTV, 800 score, O/O, SFR, Purchase
What's your rate and APR on that? I am guessing a broker using PF will beat it :)"
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Refi with impounds and 30 day lock 3.75% / 3.75% APR (without using PF)
Sorry, can't do purchase since I don't know the fees.
What's your rate and APR on that? I am guessing a broker using PF will beat it :)"
--
Refi with impounds and 30 day lock 3.75% / 3.75% APR (without using PF)
Sorry, can't do purchase since I don't know the fees.
- Clay Branch, "Georgia Loans"
- Contributions:7839
Lets see:
$300K loan amount, 75 LTV, 800 score, O/O, SFR, Purchase
What's your rate and APR on that? I am guessing a broker using PF will beat it :)
$300K loan amount, 75 LTV, 800 score, O/O, SFR, Purchase
What's your rate and APR on that? I am guessing a broker using PF will beat it :)
- Archibald Cruishank, "ABMinDC"
- Contributions:19
rates and fees are the lowest in the industry.
)
how do you back up a statement like that?
)
how do you back up a statement like that?
- Kirk Thompson, "user469191"
- Contributions:1
I am a loan officer with Emery Federal in Agoura Hills, Ca. It is absolutely the best run mortgage company I have ever been a part of. Rates and fees are the lowest in the industry. My branch is 100% customer service oriented. We have happy borrowers. Our local realtors love us. We also don't waste people's time. If we start a loan for you, we can get it done. If it can't get done, we don't drag the borrower along in case a miracle happens. If we don't fund the loan, we don't make anything. If a home buyer can't qualify, we let the realtor know so they don't waste their time. If we pre-qualify someone, they can get the loan.
When an appraisal gets ordered, an independent appraiser accepts the job and does the appraisal. They are not affiliated with us. That is the way the industry works now. Appraisals are tough, and they cause deals to fall out of escrow. Almost always, the appraisal comes back lower than expected.
Sometimes loans take longer than expected and the rates can change or lock extensions are required. These things happen. I can tell you that 2 of the biggest banks are taking 3-4 months to get a refinance done. One of the most prominent real estate companies in Southern California, will not do transactions with certain banks.They sometimes send your loan far away for processing . Big banks also get away with higher rates and huge closing costs because they can count on customer loyalty. Emery Federal can shop your loan and find the best product in the country for you. Banks are limited to their loan products only. Credit unions have great advantages available for their members. In a typical month we have 98% happy and satisfied borrowers, who recommend us to their friends and family. We do have 2% that have issues with their loans. It's tough to get a loan done right now. Unfortunately, the unhappy people want to tell 10 people while the happy people only tell 1 or 2.
When an appraisal gets ordered, an independent appraiser accepts the job and does the appraisal. They are not affiliated with us. That is the way the industry works now. Appraisals are tough, and they cause deals to fall out of escrow. Almost always, the appraisal comes back lower than expected.
Sometimes loans take longer than expected and the rates can change or lock extensions are required. These things happen. I can tell you that 2 of the biggest banks are taking 3-4 months to get a refinance done. One of the most prominent real estate companies in Southern California, will not do transactions with certain banks.They sometimes send your loan far away for processing . Big banks also get away with higher rates and huge closing costs because they can count on customer loyalty. Emery Federal can shop your loan and find the best product in the country for you. Banks are limited to their loan products only. Credit unions have great advantages available for their members. In a typical month we have 98% happy and satisfied borrowers, who recommend us to their friends and family. We do have 2% that have issues with their loans. It's tough to get a loan done right now. Unfortunately, the unhappy people want to tell 10 people while the happy people only tell 1 or 2.
"They also sent over an inexperienced appraisal company who underestimated the value of my home by at least $40,000.00."
So YOU are experienced in appraisals and it's the actual appraiser that doesn't know what he is doing...right?
So YOU are experienced in appraisals and it's the actual appraiser that doesn't know what he is doing...right?
- valindave
- Contributions:1
I am in the middle of a refinance with this company. They have been somewhat responsive and initially promised that "this would be the easiest loan I ever received." Of course, that has not proven to be true. They, also, repeatedly request the same documents over and over as well as change their promises over and over. I have gone through gettig at least 10 mortgages in my lifetime, and none go as planned. The Emery loan officer is now asking for closing costs even after they have said they could be rolled into the loan and act as if coming up with an extra $5000.00 is no big deal. In today's economy, loan officers should know what the facts are up front. Making empty promises when dealing with refinancing a loan can cause a homeowner unnecessary discomfort, stress, and more importantly, money. They had me close all my credit cards, and cost me $480.00 for an appraisal on
my home before they knew their facts. These types of problems should be known UP FRONT. They also sent over an inexperienced appraisal company who underestimated the value of my home by at least $40,000.00. I now will have to have it re-appraised at an extra cost. These kinds of problems are inexcuseable. At this pont, I am about to just forget the whole thing.
my home before they knew their facts. These types of problems should be known UP FRONT. They also sent over an inexperienced appraisal company who underestimated the value of my home by at least $40,000.00. I now will have to have it re-appraised at an extra cost. These kinds of problems are inexcuseable. At this pont, I am about to just forget the whole thing.
- kweaver73
- Contributions:2
Changes being made in the processing centers make a big difference here. As Suzette can attest to from discussing her situation with me, those who cannot meet service expectations are being eliminated. Volume levels have had an impact, without question but it would be unfair to judge all of the loan officers as some may do based on some of these comments.
- Lewis Poretz, "High Quality Advice"
- Contributions:219
truthteller45206 - Now if that isn't a ringing endorsement coming straight from the source...... and there you have it
- c1eng
- Contributions:1
I applied for a refinance loan with Emery Federal and dealt with a loan officer in southern California. The rate was the best available at the time. I started the process in early Aug. 2010 and finished in mid-November 2010. I realize they were inundated with applications as the rates dropped to levels we haven't seen in a long time. The loan officer was very courteous in all the transactions, however, not always as responsive as one might want. There were vacations that nobody told me about as I wondered what happened to the loan application. I would suggest that they are upfront with the time the applications will take during these times. Initial estimates were 6 - 8 weeks to closing. Overall I am satisfied with them and I would go again with Emery Federal if I had to do it over. They offered the best rate when others were telling me that was impossible.
- Erick Rodriguez
- Contributions:543
I have clients that have done business with them and they did not mentioned anything bad in their transactions.
- Suzette Salyer, "Salyer Henry RE Grp"
- Contributions:18
Terrible service; I've been trying to deal with loan officer for last few weeks and get no response. When client did get response, Emery said needed more documents (which we had already provided) and put off for "another two weeks" getting paperwork done. Client got in touch via Greatloans.com, which I would strongly suggest scrutinizing before using suggested brokers, like Emery, before proceeding. It always pays to use a highly recommended and local broker before venturing into Internet world for loans like this which can have this impact on the home buying process.
- truthteller45206
- Contributions:1
I work as an Emery Federal Loan Officer. I can tell you this is probably the worst run company in the business. They are run by people who have no experience in loans, who could not careless about when or if your loan gets done because they have 100's more behind yours. Which is part the problem. They are overloaded with loans and morons. If your processor gets sick or quits, you loan will sit for months.
Your loan officer might be in Florida and your loan processor in Ohio. Picture Pizza Hut employees running Microsoft. Now you have the idea.
Your loan officer might be in Florida and your loan processor in Ohio. Picture Pizza Hut employees running Microsoft. Now you have the idea.
- texaslonghorn
- Contributions:1
Absolutely horrible company. We have been waiting to our loan to process for almost two weeks and we have had to reschedule our closing date several times. I almost feel like they don't want our business, they have looked our credit background and come back to us requesting for information they already had. They have really put us in a pickel because our house seller can no longer wait for us, so it is likely that we will loose this house, and have to start the house hunting again. At this point I would pay a higher interest rate to get a better service.
- Nic Netherton, "Colorado Lender"
- Contributions:7219
They're horrible.
- jyorty14
- Contributions:2
Emery Federal offers very competitive rates and cost. I would recomend to all!
- Nic Netherton, "Colorado Lender"
- Contributions:7219
Plant.
- NTETS, "Mr Caveat"
- Contributions:6436
rule of thumb is "if it sounds too good to be true it probably is"
if you give us some details on the loan we can at least look for red flags ^_)^
if you give us some details on the loan we can at least look for red flags ^_)^
has anyone ever use or heard of EMERY FEDERAL?
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