Zillow Advice: Lenders - Advice for Manual Quoters

Thank you for all of your ...

Thu, 18 Jun 2009 22:36:00 GMT

Thank you for all of your feedback and for highlighting the APR issue. Last night we released some changes to the APR calculations that address your concerns. We now have a solution that prevents all confirmed lenders from low-balling the APR on quotes they submit through Zillow Mortgage Marketplace. If you continue to see discrepancies, please flag the quote(s) and we will follow up asap.Thank you for your patience while we investigated and responded to this issue.

Bob,We appreciate your report ...

Tue, 16 Jun 2009 21:16:00 GMT

Bob,

We appreciate your report on this. We have already gotten in touch with the lender and informed her about the missing fee on her FHA quotes. With this, we've deleted the inaccurate quotes submitted on Zillow Mortgage Marketplace.

Bad APRsThis LO was quoting ...

Mon, 15 Jun 2009 18:15:00 GMT

Bad APRs

This LO was quoting FHA <80% LTV with no PMI on 30 year loans last week. This resulted in bad payments and bad APRs. I flagged 40 of them, but Zillow did nothing. Finally, the LO saw me on a thread bring it up and she addressed it. Meanwhile, 70 or 80 bad quotes are still floating out there.

Now, she is quoting and the lender fees are not included in APR. I flagged a dozen of them and no response from Zillow and she is still quoting away.

Do auto quoters not check their quotes periodically for accuracy? Why are my flags being addressed?

And, the really bad thing is auto quoters can have the same rate and fees, but Zillow is still calculating the APRs incorrectly. Clay seemed to have figured it out and it seems like a easy fix to me....

David G, Mary M, ZillowWhat ...

Mon, 15 Jun 2009 17:54:00 GMT

David G, Mary M, Zillow

What is Zillow doing to ensure that any manual quotes at least get to the requestor?

I notice that even when I place a quote reasonably soon after the request is made, it appears that none are getting reviewed. I guess my point is that from auto quoters I understand that all automated quotes show up almost instantaneously after the client hits the submit button.

So are the manual ones even forwarded? Or how does the system work?

Appreciate your feedback.

100% financing available ...

Mon, 15 Jun 2009 17:15:00 GMT

100% financing available everywhere...

Dustin Mcallister with 96.5% ...

Mon, 15 Jun 2009 13:54:00 GMT

Dustin Mcallister with 96.5% loan to value Conventional.

Conventional Purchase money to 97% Loan to Value?

Is Provident allowing conventional purchase money to 97% loan to value now? Did I miss the memo? MI factor is 0.80% to 97% LTV.

Or just another little glitch? Anybody at Zillow?

$300 per month on MI. ...

Tue, 09 Jun 2009 14:23:00 GMT

$300 per month on MI. Interest Rate is 6% and APR is 6.035%. Crazy stuff....

APR Issues

Thanks for all of the feedback. ...

Mon, 08 Jun 2009 18:17:00 GMT

Thanks for all of the feedback. We take accuracy very seriously, and we appreciate the input you have provided to highlight the APR issue. We have been working hard to identify and fix the problem, and we will put a solution in place asap. I'll report back here once more details are known.

Thanks for your patience.

Yeah, poor Ernie. He's usually ...

Sun, 07 Jun 2009 19:50:00 GMT

Yeah, poor Ernie. He's usually off base. But, why does ZMM just pick on the little guy. Why? They don't want to miss the hits to the site from the KC types of lenders that have mastered the art of deception.

Clay the TO was a whopping ...

Sun, 07 Jun 2009 13:23:00 GMT

Clay the TO was a whopping hour and 20 minutes....