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Guest

I am just starting with them - the agent is Travis Rhulle. I have refinanced 5 times in my life and this guy seems as knowledgeable as the rest. I have not been bounced around. (Yet). He got the appraisal set up quickly. I got all the paperwork in 2 days.

BeenBurnt: Please keep posting about your experiences.

Guest

I am pretty sure that I am done, there is no benefit for them to contact me again. I would tend to believe that they would never admit any fault. I am not sure what my letter writing campaign is doing, but I have nothing to lose for trying.

Keep your eyes open, I am sure any company is capable of doing good and bad.

gmakerley · Posted: Thu Jun 18, 2009 7:43 am Post subject:

that last sentence in your post, been burnt, is sensible. it's true that any company can do you right and do you wrong.

the existence of a forum such as this serves to provide as much ammunition as a customer might need to try to navigate through the mortgage process. it is essential that one become as knowledgeable about the process as possible before seeking a mortgage loan so as to avoid as many of the problems that we've read about here and from others.

those of us who provide advice need to be fully cognizant of how powerful we are. if we are merely parroting someone else, that does no service to the people who really need information and guidance. touting a particular service, without truly knowing how it works, is dangerous. just for an example, i regularly suggest that people work with hud-approved counselors. i don't make that suggestion because i "think" it might work...i do so because i have witnessed what can be accomplished when working with these counselors. first-hand knowledge of what we propose to others is essential if we are to try to get into the information-providing game.

i also agree that posts such as have been left here by been burnt are useful, as they give us some insight into what problems a person can encounter, and we'd hope that gaining such insight would prevent us from following the same path.

we have several professionals in this community, sharing their ideas, knowledge and expertise, and they are to be complimented, on the whole, for their forthrightness. i am happy to say that i tell people about the MortgageFit community and its prominent place in helping consumers.

Guest

Beware of this company - one of their representatives sent me a message staying that she enjoyed our conversation and the fact that I shared my financial goals with her. This phone call never happened - it was a come on. I have told them speicifically to never contact me again and remove my info from their system. BEWARE!!!!

Guest

Since my name was mentioned in this post I feel it necessary to respond to “beenburnt”. This borrower did in fact write the wrong date on one document, the notice to receive the right of rescission. Here is a transcript from the lender in regards to this loan.
“Custom Borrower made date correction to NRTC. Therefore, rescission must be re-opened based upon
the date that the borrowers can re-execute a newly generated NRTC, TIL, and Itemization of
Amount Financed. Please provide the date that the borrowers will re-sign these documents. The
documents must be dated currently with no crossouts or corrections.

Custom Lock must be extended for loan to be able to fund. PTF 06/01/09”
There was absolutely zero intent from WCM to “bait and switch” this borrower. In fact we did close loan at the original term with a loss to us to correct a mistake made by this borrower. As for the so-called “intentional mistake” by” beenburnt” to catch us in a lie, it simply does not exist. I checked with the lender and they saw no problems with the re-signed documents or this loan would not have funded again.
I only post this explain our side of the story as with every situation there is 2 sides to any story. I also have the facts to back my rebuttal up.
We have closed over 16,000 loans since our inception, unfortunately situations arise like but in most cases like this, we resolve the problem.

Regards,

Christopher Meyer

gmakerley · Posted: Thu Jun 18, 2009 8:55 am Post subject:

i suppose i have another 2 cents to spend.

with a rescindable transaction, there is certainly a need for precision. obviously, in this instance, the misdating of the year as "90" caused the lender's review people to request a re-signing with valid dates. their interpretation of the statute is that an incorrect date invalidates the document, which causes the rescission period to begin anew.

it's been too long since i last dealt with rescission rights so closely, so i cannot cite chapter and verse. however, if the interpretation is that the rescission period would be extended due to the incorrect dating, then the lender would have been correct in requiring a re-signing of the documents.

the ire, the anger, the accusations, etc. are all tiresome. i think both parties have expressed themselves to the hilt, and i'm hopeful that someone somewhere has been edified by the discussion.

Guest

This email from Daniel Webb:

"The lender sent the package back to us again because of the date problem. I explained that you obviously have dyslexia and couldn't have possibly made that mistake twice. If we need a Dr.'s note about that condition do you think you could provide one?"

And this post from Christopher Meyer:

"There was absolutely zero intent from WCM to “bait and switch” this borrower. In fact we did close loan at the original term with a loss to us to correct a mistake made by this borrower. As for the so-called “intentional mistake” by” beenburnt” to catch us in a lie, it simply does not exist. I checked with the lender and they saw no problems with the re-signed documents or this loan would not have funded again. "

Which one should I believe? The better question is; Do you want to entrust these people with your biggest investment?

I have no idea whether putting an 90, crossing it out, initialing it and writing in the correction would have caused the deal to fall through, but I do know that they had 3 different people asking me for the same information over a two week period {Which I had provided promptly.} Had they not, I would have had two weeks to re-sign that one paper.

Second, I did make a mistake on the second set of documents, I wrote 6/9 vice a 6/3. Instead of crossing out the 9, I wrote over it. There is a definite loop on the top of one and only one of my 3's. Plus of course the curved line of the 9.

Mr. Akerley, I do appreciate your time, your opinions and your attempt at moderating, but I am far more concerned for the well being of potential customers to keep quiet.

gmakerley · Posted: Thu Jun 18, 2009 11:27 am Post subject:

and your last line is welcome. i am in agreement with that sentiment. if someone can benefit from your difficulties that you've shared, that is a good thing.

Guest

I guess what is concerning about this is that you get far better service at the grocery store or at 7-11 when you spend $20 than when you are dealing with hundreds of thousands of dollars. I am about to close and I think everything is good, but it has been a rocky road. The requesting for documents multiple times and "minor" oversights hit home. I would not recommend this company and if you are working with them I would suggest you call the agent and the processor everyday. This has greatly helped. I may be wrong but I don't think the processors are on commission and seemed to be more insightful with paperwork and deadlines.

gmakerley · Posted: Mon Jun 22, 2009 12:14 pm Post subject:

wannaknow you are right that processors won't be on commission, though they may get some sort of incentive pay. however, i don't get the connection between them being salaried and being more insightful.

i bust my posterior as a loan officer and go out of my way to obtain documents that some people don't even know exist. i have ways to obtain things that others never heard of. i am on commission. if nothing else, that makes me hungry enough to go above and beyond the call to get a loan done - and in a timely basis. what hangs us all up these days is investors who decide they don't want any risk, underwriters who terrified to make decisions, processors who are afraid to speak to the underwriters to check on things and on and on and on.

if i could get my loans to the closing table in 30 days, i would probably kiss my processor, underwriter, etc down the line...wow...maybe even 45 days...or maybe 60 days...i think 60 days is the longest i could allow before eliminating the kiss experience, but please believe those of us who originate loans - it's not us who are causing these ridiculous timelines.

Guest

I just closed my home refinancing loan yesterday and the whole feeling about this long process (2 month and 2 days) is OK, my agent was Kory and he was good enough.

gmakerley · Posted: Fri Jun 26, 2009 7:26 am Post subject:

johnt9, that's the most sincere-sounding post i've seen that gave a moderately favorable viewpoint. usually, those who like a company rave about it and those who dislike a company complain loudly about it.

this one smacks of reality.

Guest

I was not worried about how long it took. There are rate locks for up to 90 days, from what I understand.

Be honest and upfront will your customers. Tell them about the how long it could take and what they can do to prepare, such as purchase a longer rate lock.

Don't ask for the same paperwork three times over two weeks then blame the customer for blowing the deal for making a simple error. Had the company not wasted the two weeks, the last minute error could have been corrected and resubmitted with plenty of time left.

Guest

BeenBurnt, Are you sure you are telling the whole story. From my experience in the industry. If you dont close a loan you dont get paid. If the loan does not close you still have to pay your processors, title clerks, rent,lights... What would be the point to stringing along clients and lying to them. Are you sure you had done all you were suppose to do. Were you qualified to get the loan or were they just trying to help your situation?

gmakerley · Posted: Thu Jul 16, 2009 6:55 am Post subject:

great!

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