Greg Darlin's Q&A

LBE,I always disclose fees as well as YSP.  I will tell you how much I will gross on a loan.  All the lenders on this thread will do the same.If you want someone to do a loan for a total fee of $1,500, then you won't get anyone worth their salt.  Do you expect that they will process the loan, eat the investor fees and all the line 800 fees to be $1,500?  Do you have any idea how many hours it takes to generate, process, and to underwrite a loan?  It is insulting to especially if the LO is working for a company and get about 60% of the LO fee.  We don't get paid on the investor fees.I am sorry but I think you will never get a loan with a good broker/lender with the fee schedule you are indicating.I get a lot of business from the low-ballers who have clients go through all the gyrations only to end up with nothing.  To do a Up-Front Mortgage Loan is nothing unique.  We can all do that.  Nothing new.  A good  broker/lender will charge you for all the hours that his/her company will spend.Good Luck.

Hey Marky Mark,Can you try not to spam?  Read the Code of Conduct on Zillow and they will look you up!

LBE,I have been watching this thread for some time.  The only thing that made me laugh is what you posted:'A man was sitting on the sofa watching TV when he heard his wife's voice from the kitchen."What would you like for dinner, Love?  Chicken, beef or lamb?"He said, "Thank you, I'll have chicken.""Screw You. You're having soup. I was talking to the cat."Think about it for a second.  The way you are proceeding is the end result: you will end up with the cream of the crud.  I think most have said so but you don't want to listen.  Pick a broker/lender who knows what he or she is doing and end it there.  I have to say that I simply wouldn't deal with you because you will be a money/time drain and end up skipping, then coming back to ask me what I could do for you.Why do you care what the compensation is as long as the rate is the same and the APR?  A good, seasoned lender is going to make money, not a lot but a fair amount, and not be suckered into a bidding war with your game, period.  No time for that and no time to earn a living chasing down a borrower who doesn't even really know what he is talking about.Choose a really good LO, like the rate and be done with it.  All you are doing is mentally masturbating and no one wants to be in the circle or the pivot person.  To get a top, seasoned pro will be a journey for you.C'mon now.  By the time you suck all the life out of an LO, you will end up missing the market and anyone good who will want to deal with you.

As Richard said, put in a loan request on Zillow.  Make sure, in the comment section, you state you have an FHA and want to do a FHA streamlined without an appraisal.

Geoff,Zillow allows for the Lender to zero out any and all fees.  So, if a lender doesn't show a fee for the appraisal, it is Zillow's fault too.The lender is dead wrong in assuming the seller will pay for the appraisal fee upfront.  I have never seen it done and I believe an underwriter would have a huge problem with that.  However, if the seller is giving a credit toward settlement, then the appraisal fee may be part of the fees picked up.  Again, for a lender to assume the appraisal fee is being paid by the seller is a joke, but again, Zillow allows . . .To rectify all this, why doesn't Zillow just institute credit fields by the line 800 items?  That way, there is zero misunderstanding and the quote is transparent.  And, can you guys please do away with the 15 day lock?Clean up the quote screen and there wouldn't be this problem, Geoff.  A bigger violation of the Code of Conduct is to allow lenders to zero out fees and not have credit fields instead.

Ketaja,Like most already mentioned, if the husband can qualify on his own he should do so because they will get the best pricing and rate.  If not, the loan is still doable but there will be price adjustments to the rate.Look over to the right of this screen.  There you will find some excellent, highly rated Lenders who have proven themselves time and time again with Zillow borrowers, except the one at the bottom.Good Luck.

Crandell,Only FHA will allow you to go to 85 LTV for cash-out.  Conventional maxes at 80%.  If your equity line was for the purchase of your home and have not taken any monies since, you can do a rate/term refinance.  However, the extra $20,000 you will not be able to do.

Christy,There are many good lenders in Maryland who are members of Zillow.  Take a look at their profiles, contributions and reviews.  That is a start.  Then simply contact a few.I suggest you work with a lender who is based out of Maryland.  Doing so will insure that he or she knows the Maryland market and has other professionals: title companies etc., that can best serve you.

Ryan,Are you going through all the Utah threads and answering them no matter how old?

Andrew,Good point.  Saying that, I believe it is the duty of the LO/broker to be honest and set realistic expectations for the borrower.  From everything I have read this wasn't done.The borrower has to take some responsibility too especially if he was in communication with other lenders.  Very doubtful that other lenders were saying the same thing: 21 days from the inception of the lock-----especially with Provident Funding.Had genesmasher gone back to Gregorio Denny this simply wouldn't have happened to him.  Gregorio is much more responisble, fully discloses and would never set a borrower up for failure with unrealistic expectations.Hopefully, this thread, if read by the general public, will teach them there is much more to a lender/brokr than just a rate.