First off the company will lie to you to keep you from refinacing. When someone orders a payoff from James B. Nutter, they will not send it to the company you are trying to refinance with until they have spoken with you. They will ask what the other company is trying to do and will offer something that is very much lower.
However, they don't.
The Good Faith Estimate they send you isn't even a Good Faith Estimate. It says they will not guarantee anything at the bottom in fine print (which isn't on a true Good Faith Estimate). Then when you go to the closing they will tell you your rate wasn't what they told you so you will not refinance.
The thing is they do not want you to refinance. They want you to stay with them with your current loan and they will tell you whatever you want to hear to keep you from refinancing with someone else, taking up about a month of your time lying to you.
I was quoted 6% from another company and they came back with 5.375% with no closing costs at all. But the other company found out the Good Faith Estimate wasn't a Good Faith Estimate and I was lied to. This is not right and I beware anyone when dealing with JAMES B. Nutter. They are a complete RIPOFF.
I also found out that they rip you off out of your escrow money. They told me when I refinanced that I could skip a payment and my escrow would be rolled over however; another company told me my first payment went into my escrow account instead of off my principal.
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