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That is my experience. Mine was sold several times then wound up with Citibank where it has been for the past 4 years. I figure if they are going to sell it anyway.......
Anyone have any experience iwth North American Savings Bank? I did a search and seems like nobody has heard about them. I realize it is not all about advertised rates - but I would like a few quotes. And I am looking at the APR.
That is my experience. Mine was sold several times then wound up with Citibank where it has been for the past 4 years. I figure if they are going to sell it anyway.......
Anyone have any experience iwth North American Savings Bank? I did a search and seems like nobody has heard about them. I realize it is not all about advertised rates - but I would like a few quotes. And I am looking at the APR.
Never heard of them, but glad you are looking at APR. That and service/experience are the key factors to question in a lender.
Your loan most likely will be sold, and most loan servicers are okay. So "name brand" means nothing, its about the loan officer you use, what they can do for you and at what cost.
Some lenders pull up their own APR calculator, and may not include all the fees associated with the loan.
You will need to compare the 800 lines on the Good Faith Estimate for the most part.
Good point, that is why you need HONEST lenders. Anyone can maniuplate a GFE as well, leave out fees from the 800 lines and then add them in later. Estimates are only as good as the experience and integrity of those giving them.
All I can say is have purchased three homes in my 27 years of home ownership and this is definitely the most complex system I have seen; it was a lot easier when you just had a few banks in town.........I can see how people get turned around.
1 thing that i didnt see anyone say is, well, wachovia is no longer lending anymore and has severed all employees in that department.
Wachovia is lending, they just shut down the wholesale division. So they won't work with brokers anymore, but will still offer loans via retail channels.
They did eliminate loan officers, but only in states where they did not have a major banking prescense. People in those states can still get a Wachovia mortgage, but they need to do it online or through a 800 number... no more in person consultations.
Wachovia is lending, they just shut down the wholesale division. So they won't work with brokers anymore, but will still offer loans via retail channels.
They did eliminate loan officers, but only in states where they did not have a major banking prescense. People in those states can still get a Wachovia mortgage, but they need to do it online or through a 800 number... no more in person consultations.
all the people i knew were in the retail division, they are all on severance pay till oct 1st when they are allowed to apply for new jobs
all the people i knew were in the retail division, they are all on severance pay till oct 1st when they are allowed to apply for new jobs
FL might have been one of the states hit. I know they let go of all retail loan officers in IL, IN and a few other states where they had few branches. They are still open for business, but concentrating on areas like NC, SC, VA, GA where they are strong. Anyone outside of that has to go online or call in to apply.
At least they are being pro-active and trying to adapt to the new market. It took them long enough, they were still pitching "Pick-a-Payment" to the masses earlier this year.
Wow--We have a mortgage app pending at a retail Wachovia branch in SC...but I haven't heard anything about this. Do I need to be looking for a new lender???
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