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smithsussane · Posted: Tue Oct 27, 2009 9:50 pm Post subject:

Hi SWL!

Welcome to forums!

It would be a good idea to contact your present lender and check out if he can offer you a FHA Streamline program. If they offer this program, then it would be better to go with your original lender.

Sussane

gmakerley · Posted: Wed Oct 28, 2009 7:55 am Post subject:

scott, you will find streamline fha loans available everywhere that fha loans are available (sounds like an amex ad, huh?).

check with bofa or most anyone else as well.

Guest

I went with Eagle Nationwide Mortgage Company (ENMC) after filling out a questionnaire on the FHA website and being contacted by ENMC. The pre-approval was quick and painless and they promised to have my application and pre-qualification letter to me by the next morning. 3 days later I still did not have this information and almost did not get my bid accepted on my house because I couldn't prove that I had pre-qualified. I had to wait an additional 2 days to get the paperwork.

Went through the application and I sent in ALL the information they asked for and I was continuously asked for more. Now I understand that they need a lot of information but they would make a big fit over one document just to find out they didn't really need it. This happened for weeks.

Finally got my good will estimate, closing costs at $2100 and I thought we were good to go. We got a closing date but no one could give me my final closing costs. I did not find out how much money I had to pay until I was sitting at my closing. They never even sent the paperwork to my lawyer until 15 min before the closing was to start. We had to leave the closing to go to the bank (we were from out of state so it was very very lucky we had a bank locally). Not to mention the closing costs were $3500 instead of the $2100 we were told. The reason behind this discrepancy was that they never disclosed the broker fee. The lender never funded (sent the money to the lawyers for the cost of the home) until 1 week after the closing, so I was living in a house that wasn't officially mine because they couldn't handle the paperwork. 3 weeks after the closing I received an email with a disclosure enclosed that they had "forgot" to send me before the closing. Guess what the disclosure was... the Mortgage Broker Fee Agreement, the total brokerage fee listed as $1300 soooooo

$2100 original good faith estimate
+1300 brokerage fee
=$3400 (we paid $3500 closing costs)

Convenient that they never disclosed the information to us. Some people would not be able to cover difference, we were lucky.

ENMC was the most unprofessional company I have ever worked with. I was very disappointed, the loan processor was rude and sarcastic, everything was extremely disorganized. All in all it was a horrible experience and I would never recommend them to anyone. In fact today I received a note from them with business cards asking me to give the cards out to my friends and family, the whole thing went right into the wood-stove.

If you are considering using this company look into some alternatives, another company will treat you much better and things will go much more smoothly.

jameshogg · Posted: Mon Nov 09, 2009 10:18 pm Post subject:

Thanks for sharing your experience in the community. You indeed had a very bad experience with the company. The lender should be more professional in his approach towards the customers.

gmakerley · Posted: Tue Nov 10, 2009 11:38 am Post subject:

mck, i have to ask a question: you mentioned filling out a questionnaire on the fha website. i don't know how that might have led to this lender contacting you, as fha is not a source of loans for lenders.

there are a lot of sites masquerading as federal sites. fha.gov is the real address for the federal housing administration. i have seen mirror sites with a .org or something like that on it, which are privately held sites that are simply trying to obtain your business.

public, beware of the website names you enter in when you're online. there are undoubtedly thousands who've been misled by thinking they were on a governmental site only to learn later that it was private and not so friendly.

as for your experience, the guts of it don't sound all that dissimilar to what's happening in the marketplace; but the rudeness and inefficiency of the lender are inexcusable.

Guest

This Company lies, Especialy Lee Foland...I was told that Money that was going into escrow from a Refi ended up going into closing cost. after trying to figure out what had happend... Lee Foland Told me, it is what it is, sorry aout your luck..If the Monye would have gone into Escrow he told me he would only made a 1800 dollars on the deal....This comapny is terrible i have all Documents Stating what was to be done. If it Would not have cost me more to get a lawyer I would have...THEY ARE A TERRIBLE COMAPANY

Guest

Be very careful of Eagle National Mortgage in Pa ..they just bait and switched my relative...said the loan was a 30 year fixed turns out it was an arm..claimed it was an fixed up until closing and then when it was discovered he claimed the ARM would go down. He guaranteed it! Funny didn't know anyone could guarantee what the LIBOR would do!

Added fees that were never disclosed and never left right to cancel papers. LO, Mark Levenson, was a complete liar it turns out. Claims there was a declining market fee of $500 that had to be paid funny it ended up on the HUD as a loan origination fee! How about this a $40 fee for email!!! Can't believe there are still these kind of LOs out there. They give the good ones a bad wrap!!

gmakerley · Posted: Sun Nov 15, 2009 9:26 pm Post subject:

$40 for email? wow...can i make up a new junk fee just like that? how about the hot chocolate i got in the habit of drinking last winter? can i add that cost to a settlement statement?

i wouldn't want to be wrapped by any loan officers either...no matter whether they use saran wrap or the stuff that ocean state sells...

Guest

MCK,
I thought you should know, if a Mortgage Company does not disclose their fees within 3 days of taking a full application, or that there is an increase in rate (over .125%) or increase in Fees. They are not compliant with RESPA Laws and the Penalty is 3 times closing costs, which goes back to the Borrower.
It is unfortunate that there are still Bad Loan Officers out there, but the only way to get rid of them is report them to HUD or your Attorney General.
Best of luck everyone!

Guest

STAY AWAY FROM HIM!!!!!!!! HE LIED TO ME ABOUT CLOSING COST, BAIT AND SWITCH....HOW DOES HE STAY EMPLOYEED!!!!!!! HE TOLD ME THAT A DEAL IS A DEAL....AND IT LOOKS LIKE HE HAS SAID THAT BEFORE FROM THE THRED I'VE READ.......

Guest

I am a Senior Loan Officer for Eagle and I can promise you that we are all not as incompetent as some of the stories that i just read through. We are a subsidiary of Eagle National Bank and strictly regulated by the OCC. I am sorry that you had bad experiences but the process is normally smooth as market conditions dictate. I am very thorough and easily accessible through the entire process.
We are able to do loans nationwide if anyone would like to discuss there lending needs my contact information is as follows:

Jason J. Volo
Senior Loan Officer
Eagle Nationwide Mortgage Company
jason.volo@enmcdirect.com
866-530-5895 ext 3833

gmakerley · Posted: Tue Dec 29, 2009 4:30 pm Post subject:

jason, you do, i suppose, deserve the benefit of the doubt here. i'd hope that the company does, in fact, have a competent loan officer somewhere. if you're the only one, well, i'm sorry; but if there are others, it'd be a big benefit to the company as a whole.

the news about eagle is awful based on what i've read. i know nothing about your operation, but i'd not be pleased to be affiliated with someone whose publicity is so atrocious.

Guest

I just did a loan with Lee Foland, and he also lied to me about where my money was going...He cam across as a sweet OLD man, but to me he was deliberately misleading and deceptive. I wish I would have read this before I closed in December.

gmakerley · Posted: Tue Jan 05, 2010 2:28 pm Post subject:

why the emphasis on "old"?

Guest

Because he is old.

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