Recently I visited the website of a mortgage competitor seen daily on TV to inquire about the below market rates they regularly advertise.  I used their online chat function to memorialize this conversation.

People are smart - enough to know when they are being told ½ a story

Note: online web chat on 05-21-07

Welcome to ditech's Live Chat. Please wait while we find an agent to assist you. Chat sessions may be monitored for quality control purposes. You have been connected to Kevin N----n.

Kevin N----n: Hello, welcome to ditech.com chat, for future reference my direct number is 800-700-____ hit the number 1 (to avoid the automated operator) then my extension ---- my e-mail address is kevin.n-ditech.com hope you are having a great day. What question(s) can I answer for you today ?

Greg: I saw the ad saying 30yr fixed rate at less than 5.8% APR for refinance but your website shows 6.3%. What's going on?

Kevin N----n: with 2 points you can get a lower rate if this is something you qualify for

Greg: What's the rate without the points?

Kevin N----n: if you qualify it would be the rate you see on our website

Note: 

Where is the information about charging 2 points listed on their homepage?  Can you find it? @ www.Ditech.com

Find ponts charged for publisned rates on a seperate page @ http://www.ditech.com/refinance/index.html 

Points are a legitimate means to permanently reduce mortgage rates however, they should always be disclosed in front for consumers to make educated decisions. Be wary of lenders that require applications fees as you may not know the entire story till after paying them.  Check them out on websites like Complaints.com Read my blog on points to decided whether they are right for you.

Additional research source:

See what this consumer advocate websites has to say at Ripoffreports.com