I brokered a loan to the same bank that holds the current mortgage for my client. The bank called and said "It is a good loan but does not pass the benefits test" ??????? The bank is judging whether the client should refinance or not. The client is lowering his mortgage payment by $150 from the same bank. When we protested the bank then asked for a copy of the first mortgage note....this is the same bank that holds the note !
Then on the same loan the bank faxes me a face to face form. I had to visit the client who I have known for 10 years and ask her questions as if I am an FBI Investigator. Then I faxed back my questions and am waiting for my review.
We will call these the War on Prosperty Years, and the Destroy the Tree years when it is said and done. But, thank God, our Government is saving us from the Swine Flu !
Doug Jones
Mortgage Magic
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