From Zillow April 27, 2010
"Dear Brian,
In reviewing your recent quote ZQ-XXXXXX, we see that this rate is too low. If you feel this is not the case please provide information with the details such as who is the investor, what is your base rate, and lastly what are the ad-ons.
Community Relations
Response April 27, 2010
"Dear Zillow,
I reviewed the quote, and in fact reviewed all of my recent quotes, and have verified that indeed the quote is correct. I suspect that once again my competitors are complaining about our rates. You might find this surprising but our clients NEVER see this as a problem. As far as telling you who my investor is that information is confidential. My base rate and all fees are disclosed in the quote. Perhaps the best way for you to verify these rates is to allow me to refinance your home or assist you in a purchase. Upon completion of a loan application I will be delighted to lock your loan as disclosed in the quote and guarantee this rate. What is your rate now?
If you have an opportunity I would appreciate it if you would blog about this on the Zillow website. I find it interesting that just because my competitors can't compete this is viewed as a problem.
A mutual friend of ours works for Zillow and I forwarded him a confidential copy of our wholesale pricing matrix so that you may verify the authenticity of these rates although he will not provide you with the investor details.
P.S. If you think this is low wait until you see our new JUMBO program rolling out this afternoon.
Brian Leavitt
Designated Broker
Northstone Mortgage
425-837-4700
broker@northstone.net"
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