Gregorio Denny's Discussions

I have not had a chance to read through all the comments, but when quoting interest only it still shows the P & I payment. A minor detail but I would think one easily addresses. It it has already been brought up, please excuse me. I too have noticed ridiculous quotes, especially on conforming jumbos. Either they are quoting rates that are impossible, such as 5.75% or they don't bother to check the zip code to even see if it fits the limit. Someone was questioning a 5.75% 30 year fixed quote and I'm not sure why. 5.625% (-.125) is pretty easy and after that it's just a matter of your fees. I think the system is a fantastic idea and I look forward to seeing if it actually pans out.

I am just curious how some people have 5.0/5.0 ratings after 1 day and in the review it boasts how great they are and it notes that they "Closed" with this lender?  WOW, That was a fast closing! Also, the person that rated them is brand new to zillow and has no info. I surely hope this is not going to be a scenario where you can create personas to boost ratings or trash the competition. Are there built in checks against this?

Is it possible to remove the photos in my profile as well? I cannot seem to find a way to get rid of them either. Thank you.

The biggest problem I see is carelessness. I don't think most are overtly using bait and switch tactics, I believe it's a case of not reading the entire loan request. I see a lot of conforming quotes on jumbos and owner occ quotes on inventment properties. This complicates things because the public already believes that the new conforming jumbos should be or are indeed priced as a loan under 417k. Being able to see what has already been posted is a good thing, I immediately know if I can be competetive or if I should pass. If I see a rate that is just not possible, I know to move on because it's going to be an uphill battle no matter what you do or say from that point on. It's unfortunate for the borrower, but it's hard to unring that bell. There are a lot of us with zero overhead and no commission splits, so taking a small .5% origination fee and a par rate is not an issue. The system would not work well if you could not legitimately view and choose the battles you can win.

Move your Capital one over to your line of credit and close that out. Leave your mortgage as it is. I see no reason for you to refi at this point. If at some point rates on your line of credit start to rise then you may think about a refi, but they would have to rise a great deal to make it make sense.

The pictures of 1005 St Francis please. I no longer want them assiciated with my profile. Thank you.

Tom, I sent you an email off of Zillow as a professional courtesy, not to be impolite in any way. I thought my email was direct and to the point and the intention was to do exactly what you are speaking of here. It was a gentle nudge to have you take a second look at your numbers. The email read: "Interesting that you quoting 30 year fixed Jumbo mortgages on Zillow at 5.625%. I hope you can produce that" It said nothing less and nothig more.If you find that to be impolite then I apologize, but you had made your error not once, but 3 times that I saw. You would have used up 3 flags right there on "errors". This platform seems like a great idea and I would hate to see it fall apart because of sniping brokers flagging content they don't like. Everyone here has an email and I don't see anything wrong with a quick email alerting them to a possible error. They may tell you that they in fact can produce that rate, and then it's on them to do so. Good ideas don't have to be perfect ideas for them to work, let's all grow with this. The people abusing this are obvious, they already have 5 star ratings from closed loans and beat every quote by a mile. The public is not as dumb as you think they are.

In my opinion, this entire discussion should be take to a private forum. If I were casually browsing I would be turned off to this entire discussion ... if you get my point.

Not sure the best way to handle this, but I know you can submit a loan request and get lender feedback. Posting a quote here I believe would be inapropriate. To answer in general, you can figure that the new conforming jumbos will fall somewhere between the old jumbo and the conforming rates. 7% for the scenario you described is a bit high and I encourage you to use Zillows new system to obtain a few quotes. Best of luck.

Do you have a # for your quote request?