I was preparing to do business with this company because their sales people convinced me of how "horrible" it was to do business with "brokers." I was promised reasonable closing costs and a free refinance once my initial mortgage was paid on time for a period of eight-ten months. To make a long story short, I was quoted a monthly payment only. The sales person conveniently left out the closing costs and told me that "underwriting determines fees and points." I was then informed that I had to give my credit card in order to get the loan approved and into the underwriting department. They also said they wouldn't charge me for it, but that they just "needed it."
Foolishly and against my belief I trusted them enough to proceed. After the non-refundable $295.00 was already run from my account I was mailed a package which listed $9500.00 in closing costs! $9500.00?!! Now I may not be a mortgage wiz, but that seemed pretty steep to me. I was then informed that it was because of my "below average" 660 credit score!!!
Needless to say I cancelled the loan on the spot and was humiliated by their sales person, who also refused to refund my $295.00 appraisal fee. I'm out every dime of it and had to pay for a brand new one in order to close a loan with a broker, which ultimately ended up being approximately $6000.00 less in closing fees. I guess I made out in the long run? These people are Crooks and shouldn't be allowed to charge nearly as much as they do
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