Zillow Advice: Refinance - Please advice homeowners on how to pick a legitimate and honest mortgage broker on the internet?

Maurice,Hamp nailed it, at ...

Thu, 07 May 2009 14:27:00 GMT

Maurice,

Hamp nailed it, at least from my point of view. The majority of the bickering that takes place between lenders is a result of one lender calling out or exposing mis information or spin by another lender. Unfortunately, that sometimes turns into a personal attack.

At the end of the day, by reading through the posts and at times the banter between lenders consumers will have a better understanding of what is going on. Hopefully they have learned from the site and will be able to spot a lender's spin and make an informed decision about the loan and the lender they choose to work with.

There are no magic lenders, no magic loans and no magic pricing. If something seems to good to be true...it probably isn't true.

Just my .02

Look on your state regulatory ...

Thu, 07 May 2009 04:44:00 GMT

Look on your state regulatory agency's website. The ones with complaints. Don't "pick" them. The ones that are still in business. "Pick" from one of them. They are either real honest or real crooked. That's all that is left. Now the one you pick will be hard to evaluate online, you may have to actually call or drop in. The people on this site are generally as good as anyone you are going to "pick" online. They pick at each other out of regard for you.

Take heart, Maurice. Most ...

Thu, 07 May 2009 04:38:00 GMT

Take heart, Maurice. Most of the lenders who lurk on this forum are okay. They (and some of the non-lenders...ahem) periodically harass each other, but most of those who bother to post are fairly decent. It's only between themselves that they can get cantankerous.

As for the quote process, it doesn't require the info you described. That's only when you actually decide to apply for a loan (by which time I hope you are comfortable with the lender). The Zillow quote system is actually anonymous (i.e., the lenders don't have any information about you, other than that needed to provide a "ballpark quote".

I say "ballpark" because the actual quote will depend on your actual credit score, house value, etc.

I have actually funded a loan through a Zillow lender, and everything worked out well.

I myself have been looking ...

Thu, 07 May 2009 04:27:00 GMT

I myself have been looking for a lender and have been debating where to start. But seeing all these lenders slam on each other and taking personal jabs at each other, is very disappointing. If I feel this way, what do the thousands of people who search zillow think. This is what I found to be very unprofessional.
By Greg Darlin
"Please take the pistol in your hand, aim it carefully at your temple and slowly squeeze"

Michael Yeager hit the nail on the head.
"cmon guys... you arent making a good impression here"

I'm affraid to submit a quote on Zillow because, It is my understanding to get a quote you need to give your SSN, DOB, Address etc. So why would I want to do that when a Lender is telling someone to take a pistol and aim it at your temple.

Rudi,Can you please just ...

Thu, 07 May 2009 03:58:00 GMT

Rudi,
Can you please just give it up? You are not going to win against a highly educated, well thinking Engineer like So Cal_engr.
My freshman year at the University of Delaware (one of th best schools for Enginering) my hallmates only had a 3.50 and they were absolutely brilliant. Now, combine that with the common sense of Socal_engr and you simply have no chance whatsover. He is one of the best people on ZMM. I have learned a lot from him. I suggest you drop the stupid gun and learn from someone who is way more intelligent than you and most of us.
Stopy the UpFront Mortgage Integrity crap being one. There is no more integrity than anyone else. You barter on a fee, worse than a lender or broker that gets paid ysp on the rate. In the end, at best it's a wash.
You rely on, "Professor Numbnuts," and his website. If that is a show of his intellect, then I most would scamper away like cockroaches when the lights come on. Get real. Academia has its place, but can the guy really market to the real world widgets and gadgets?
Take off the 007 picuture off your profile and be real and stop your silly, stupid crap. If I am getting sick of reading it then so are about 50 million others too.

Rudi,This started out as ...

Thu, 07 May 2009 02:36:00 GMT

Rudi,

This started out as something simple (i.e., "scope", "focus", "context"), morphed into something mildly entertaining, and has now degenerated into a depressing exchange.

Please re-read your posts and my responses, and tell me what I did not provide a response to. While doing so, please also re-read the post that Andrew points out - and recognize that you did ask me what I based my opinion of Amerisave and Aimloan on. Unfortunately, it was in a seperate post from your other rantings, so I missed it on my initial response.

It's interesting that you would accuse me of being selective, when you based an entire quote on one aspect of my loan request - an act which required you to completely ignore other aspects of my loan request.

You give yourself way too much importance if you think I would expend the effort to communicate directly with you...and provide you with my contact information in the process. I am very selective about who I directly communicate with...and you don't make the cut.

I never said that I "never read beyond the first few lines in [your] quote". I said that I dismissed you as a serious contender based on the fact that you quoted an ARM. Truth be known, I did this right off the initial listing and never got to the text...which is why I just recently found out you quoted an I/O ARM.

Anyhow, this is enough of this thread. - Cheers

p.s. I took a look at your site, and it does include a lot of information. A lot of it is mortgage pablum, but at least it's all in one pile. Unfortunately, your site layout is horrid and difficult to navigate.

If that was not what you ...

Wed, 06 May 2009 18:18:00 GMT

If that was not what you were asking...

"As far as "identifing two organisations that are listed on the MtgProf's website which I understand have their share of critics."

Please let us know where your understaning is based upon."

What exactly was your question to socal?

SoCal, you forgot more than ...

Wed, 06 May 2009 17:16:00 GMT

SoCal, you forgot more than one thing that I asked. But, I never asked you that! You are a "selective reader." Pick out the few words you want to run with and forget everything else! .... But, it doesn't matter!

Where did I go? Nothing has changed. My email address, phone numbers are all the same. I'm easy to get a hold of!

Since you mentioned you never read beyond the first few lines in my quote, I now understand how some folks are very quick to judge. Now I don't depend on the requestor to view ALL my Daily Posted Rates for ALL Products on my website.

I thank you for that. Now, I first quote product(s) most (not only) interested and then a 3/1 I/O or 5/1 when stating plans on living here less than 10 years; 5 years; Lower my Payments; Lower my Rate.

Also, I have only responed to a few Advice Requests when I'm available since they have already been adequaately answered and the remainer are mostly about loan mods which I have limited knowledge.

Thank you, Rudi

Rudi,Where'd you go? I forgot ...

Wed, 06 May 2009 02:59:00 GMT

Rudi,

Where'd you go? I forgot to answer one last question you had about how I formed my opinion of Aimloan from personal experience. I called them on a rate they quoted and...it changed! I have to admit that I simply googled up some reviews on Amerisave, so it depends on which experiences you want to rely on (and yes, I do understand that those with an axe to grind are most likely to put out the effort to post a review).

And...

I did take the time to go back and look up the full info on your quote. It was worse than I originally thought. You quoted an I/O ARM for someone who asked for a 30yr fixed, and could only beat the rate by .0055? And, after those first three years, I could play "What's my rate going to be?" with a house that - taking into account current trends - might not be able to be refinanced? SWEET! How did I pass that up?

And don't forget#4 Never ...

Tue, 05 May 2009 19:01:00 GMT

And don't forget

#4 Never do business with anyone that hides lender fees in the 1100 lines of a GFE. Such as THIS PERSON!