I recently applied for a morgage on line. I got four company responces. One of which was Dana Capitol Corp.interest rates were very closely matched but the closeing costs to Dana Capitol were over $4000 higher than the least expensive broker for the same loan amount. I emailed the docs needed to start the loan Loan Doc, Houseing Fair Lending Notice, Equal Oppurtunity Act, Borrower sheet, and Right of Apprasial) but DID not nor return any of the papers that were ups's to me to fill out or sign them. I did not have an apprasisl on my house but for weeks the broker insisted that I have an apprasial scheduled.
I would recieve sometimes 4 or 5 phone calls daily both at work and at home. I needed to think and shop as a loan on your house is a very big decision. His secretary called me and I explaind that this was a big decision. He had placed me with Chase Bank.
His phones calls continued. I simply would not pick up the phone. I recieved a package from Chase.
This is what gets me upset. Dana Capitol changed my Homeowners Insurence to Chase Bank being my morgage company without notice nor permission from me. If there was a fire or disaster then Chase Bank would benefit. I HAVE NO MORGAGE with Chase Bank... I think it is totally unethical to do something like this. Maybe besides the countless phone calls from them it was to put more pressue on me to sign a loan. THey have no right to do this
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