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fabianoporta · Joined: 27 Feb 2009 Posts: 11 4.19 Dollars($)

Hello,

I'm having problems to get an appraisal approval with Bank of America.
What about if I pick Regions Bank instead? Any bad comments about this bank?

Guest

From personal experience and in conversing with others over the years, personally I would opt for a local community bank or credit union whenever possible. Less chance that your note would be sold on the secondary market i.e. securitized. In fact, while the percentage chance of that happening should be disclosed in the mortgage application I'd make sure that I asked that question of anyone with whom I was applying for a mortgage. Ultimately, I would feel more comfortable with an originating entity that could give me a 100% guarantee that they would keep my loan on their books for the life of the loan, however long that may be.

This, in turn, may limit your options and the number of "products" available to you to obtain a mortgage but it would still be my best case scenario. Other opinions may differ for many reasons...

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Bank of America vs Regions