Did You Hear the One About.....?

Charita, Banks... their own worst enemy?  We're in process of moving our personal mortgage from a big bank that rhymes with Wells Fargo to another bank.... because they wanted to charge us almost 4k in closing costs to refi our existing loan with them?  Seriously?? All we wanted was to get our interest rate down.  New customers can get it, but existing?  Nope, going to charge you outrageously for the right?

So instead, we're going with a local bank, lower fees, and an interest rate lower than the one WF would have given us.  Put a T in their initials and you get my feeling about the situation.

Bill of BLiz

All the more reason to deal with a brokerage firm OR local bank or credit union!!!

They should go to somebody else at the bank...there is no way that is the bank's policy (or I would hope not or they should be losing customers).

Whats scary is that these people are "safeguarding" our funds! Someone needs to give that banker a copy of the operations and policy manuals!

Charita, The unreturned loyalty is what amazed me!  Been a client for over 10 years between the original loan and a refi.  Even said, "you understand I will take my business elsewhere if possible IF you insist on these conditions?"  Did NOT care, so but I do CARE! 

Refi appraisal was yesterday with the new bank, with luck done by the end of the month and our rates drop over a 1%, and take the remaining 23 years to a 15 year.  Woo hoo!

Charita, well now!  That is just plain wierd!  If it's a normal checking account, you can just put your card into an ATM machine and get the information.  If she has a large sum at that bank, she might consider moving it to one that provides a higher level of customer service.

Charita: this one sounds almost too weird to be true.  I would really have enjoyed watching her pull her funds out in front of the bank manager. 

That's a strange one.  I don't know why they didn't accommodate that request.  If it would have been me, I would have gotten really paranoid thinking they couldn't account for it accurately.  She should ask another bank "If I came in here and requested "verification of funds" letter, what's your protocal?  If they tell her, "it's no problem . . ." she needs to bank with THEM!!

Everyone has commented on the stupidity of the bank. I want to compliment you on your attitude when you realized you were dealing with a idiot. Reminds me of the story about wrestling with a pig. It makes you a mess and irritates the pig. Nothing else. You made the right decision not to have a battle of wits with a unarmed person.

Charita:  Nothing ... and I mean NOTHING you tell me about requests made for lending transactions surprises me much anymore.  I don't even blink.  Just means another phone call .. another explanation ... more time lost.  The faster it's done ... the faster you can move on.

Gene 

I can only imagine if that had been me at the bank.  It would not have been a pretty scene and I would have taken my puny funds elsewhere.  I have gotten several proof of funds letters from buyers.  I did not request them the buyers did?

That's funny!  I am more in the school of figure out the dynamic and try to point out  and rant later, too.  Good that you kept your wits about you to try to explain the ridiculousness in a rational way.The ranting among supportive friends is priceless here on Activerain and keeps us sane-or semi sane, I can live with that!