tag:blogger.com,1999:blog-21166579.post7422438258656423320..comments2024-02-19T08:12:53.815-05:00Comments on The Right Thing: THE RIGHT THING: THE FINANCIAL COMPANY YOU KEEPJeffrey L. Seglinhttp://www.blogger.com/profile/15648051034425906705noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-21166579.post-62851813077192354992008-09-17T13:11:00.000-04:002008-09-17T13:11:00.000-04:00Bill, For the most part I agree with you- however ...Bill, <BR/><BR/>For the most part I agree with you- however the originating broker only has control over the initial sale- after that it can be sold to anyone, including CW. <BR/><BR/>As for experience for the borrowers, it it such a whole new world, not even the most experienced broker knows what's going on. <BR/><BR/>Lesson learned: caveat emptor. Borrowers should do their homework before choosing a broker and getting more than one opinion. Trust and knowlege are your friends- going for the lowest rate will hurt you. You should trust that whoever you work with will give you the lowest- FAIREST rate, and yet provide you the service you need. <BR/><BR/>'nuf said.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-21166579.post-2701174405916820422008-09-16T12:34:00.000-04:002008-09-16T12:34:00.000-04:00A note to these borrowers. The couple in your art...A note to these borrowers. <BR/>The couple in your article who feel they have been turned over to an unethical lender. It appears that thry applied for a loan either through a broker or a correspondent lender. In other words they locked your loan prior to you signing your loan documents,hopefully, with the most competitive lender on that lock day, in this case with Countrywide/BofA. Look at your loan documents, probably, Countrywide is mentioned in them.<BR/> <BR/>You should have shared your opinions with your lender when they locked the loan. If you had, they could have sold your loan to anyone you preferred. I hope the loan went to Countrywide for your benefit. Interesting opinion though, over the years I have had many borrowers that request Countrywide primarily for their superior loan customer service. <BR/> <BR/>Get over the point that you've been slighted, it doesn't sound like a borrower that has experience, which is the real problem.<BR/> <BR/>Bill Smith<BR/>Mission Viejo, CaAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-21166579.post-5398446642031075672008-09-16T11:52:00.000-04:002008-09-16T11:52:00.000-04:00Jeff,I wrote you a scathing letter after reading y...Jeff,<BR/><BR/>I wrote you a scathing letter after reading your "post" as edited and presented by some Ohio paper. However your COMPLETE post here is more fair. <BR/><BR/>After being the business for twenty years (mortgage banking) I can honestly say that loan servicing is really a non-issue. <BR/><BR/>if you want more control over that factor of the transaction, then you need to walk into a Chase or (God forbid) Citi branch and request one their portfolio products what won't get transferred. I guarantee you that you will pay a much higher rate and fees for that loan. <BR/><BR/>I suggest you investigate the true implications of loan servicing and report that. <BR/><BR/>The bigger picture is the greed of all involved in the industry that led to it's own demise. And I mean ALL- from the borrower, to the broker, to the real estate agent, to the escrow officer, from the CEO, to the girl answering the phone. This was a gold rush for many years and many got in to make a quick buck. <BR/><BR/>I got sucked in and held down with golden handcuffs and I am happy to say that I'm off for friendlier pastures. <BR/><BR/>I would love hear a follow up from you and your wife regarding what you learned about loan servicing and how it will really hurt you- or not so much...<BR/><BR/>Sincerely,<BR/><BR/>Mark TarshisAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-21166579.post-1197536633818554972008-09-16T11:47:00.000-04:002008-09-16T11:47:00.000-04:00As long as you had no direct business with Country...As long as you had no direct business with Countrywide, you have nothing to worry about. After you negotiate your mortgage and settle down and start making payments, it really doesn't matter who holds your mortgage.<BR/> <BR/> I refinanced thru my credit union years ago and all I know is that they're collecting the mortgage payments and forwarding them to some other unknown company.<BR/> <BR/> There are nine homes on my nine house cul de sac and two have been foreclosed. According to the notice posted on the front window of one, it is now owned by the Deutsch Bank, a German company not in the business of making home loans in America.<BR/> <BR/> If a problem arises with your loan, you sue the original mortgage company as that's who your contract is with.<BR/> <BR/>BurlAnonymousnoreply@blogger.com