online mortgage companies? (lending, closing, brokers, amount)

[geoffandliz]

Has anyone used some of the online only mortgage companies? I was looking at some like aasent and madrate. Any opinions, good or bad? How do their rates really compare?

Thanks, Liz

[renriq02]

i worked at lendingtree...they're pretty decent.

ascent is okay.....most brokers can beat both of their rates

Originally Posted by geoffandliz

Has anyone used some of the online only mortgage companies? I was looking at some like aasent and madrate. Any opinions, good or bad? How do their rates really compare?

Thanks, Liz

[consumateprofessional]

After 5 months, this is my experience. Good people and leadership. Systems are pretty good. There are a lot of moving parts to keep up with.

Here are my issues:
1. getting paid the correct amount on time. More often than not, this was an issue.
2. closing dept (correspondent), HUD1's were usually wrong initially (per lender instructions).
3. pricing engine rarely matched what came back from the lock desk (worse)

Needless to say, time to move on!

[jeffselan]

No matter who you consider, shop around. Build a relationship. See who returns your calls, answers your questions, is assesable, ect. I always say, check a retail lender, a broker, and a local bank.