Real estate blog entries tagged with lenders gone wild by Northern Virginia Homes

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Home : Blogs : FRANK LL0SA- Northern Virginia Broker .:. FranklyRealty.com : FRANKLY Real Estate Blog : Tag "lenders gone wild"

lenders gone wild: Loan rescued & closed in 6 hrs! Thanks Darran Anthony from Suntrust - 09/19/08 06:08 PM

Just an update to my rant yesterday about sucky internet lenders and Lending Tree.com. At the advice of the listing agent, we used her favorite lender Darran Anthony from Suntrust. My clients were given endless last minute excuses for 3 days, and come the closing day, the excuses continued. We did not close on the closing day. I can't remember one other closing that I have done, that didn't happen on time. So we called Darran Anthony at 6pm. Got him all the necessary paperwork that night. Made a phone call at 9:15am, got another degree of confidence that he could … (6 comments)

lenders gone wild: DO NOT USE LENDING TREE- Pass this along - 09/18/08 11:42 PM

Any agents out there frustrated because their clients got caught up in the "Lending Tree, When Banks Compete You Win?" Well, as many of you know, that is a crock. Great marketing slogan though! "When Banks Compete, You LOSE!" Too many times these internet lenders screw my clients. They get suckered into these fake rates and promises, and they repeatedly drop the ball. Why? FAKE RATES! The rates they quote are below cost, so they WIN, just to change the terms when it is too late to turn back. NO ACCOUNTABILITY. If they screw you, what the hell do they care? … (19 comments)

lenders gone wild: Inflated Appraisals: 1st Major Suit - 11/03/07 12:34 PM

When two of my blog readers send me WSJ articles on the same day, you know something big is up.
Appraisals 101: An appraisal is a report that is supposed to be a 3rd party impartial review of a property (usually under contract) to make sure the price is in line with recent closed sales (not counting houses still "for sale"). This protects the bank from buyers buying overpriced houses, which are at higher risk for default.
I first wrote on this topic of inflated appraisals: Builder Tricks Part 3! Independent Appraisals & Fiduciary Duty. I showed why builders try to require … (10 comments)

lenders gone wild: Loan officer secrets revealed! The "What would you like to make" sheet. - 03/09/07 11:03 PM

Ok, loan guys, you are up next!
My entire public blog is dedicated to revealing all the Myths Tricks and Truths from Realtors.
Now I'd like to dabble in revealing a lending trick that many consumers and some Realtors might not realize.
What they don't realize is HOW lenders really get paid. It is obvious for Realtors based on our public commissions, lenders fees are backloaded, front loaded or sideloaded. I dont mind people making money. I dont mind people making a lot of money. I DO mind their customers not understanding HOW they make money.
Consumers call a lender and … (6 comments)

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