Has anyone refinanced their mortgage with First Guarantee Mortgage?
rdbianco4 asked:
They are a mortgage broker out of New York State. Curious if anyone has worked with them and what they thought of their process.
ELIJAH
They are a mortgage broker out of New York State. Curious if anyone has worked with them and what they thought of their process.
ELIJAH
MD/DC/VA area
Most of the time brokers will give you a better rate and retail lender (Countrywide), because we have wholesale rates…..
GERRY
No but you might want to call real estate board or consumer affairs dept in your state to see if they have any compliants
SAMMIE
well, I used to work for them and i will give you the low down on this company. They charge above average fees as far as Loan origination *they claim this is how they get you the lowest rate available”, absolute BS they charge higher rates because the owner that has a ferrari porsche bently and 5 homes himself require that they charge at least 1 Yield Spread Premium point this is a fee paid to the broker by the lender and they will say that you dont pay for it. Bottom line is you pay for it in a higher interest rate. Shady company, that is why I quit working for them and went to work for a company that doesn’t practice their preadatory lending.