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Ohhhh, I was like, this guy looks like a crazy serial killer, no way am I accepting that request!I tried to add you on LinkedIn, but you haven’t accepted yet. I’m that weird guy who’s business is nothing like yours and is named Steve.
Dude... I kid you not, I thought earlier today that I needed to touch base with you. My day got away with me today and my head hurts now but let's touch base tomorrow.
United is marketing to you directly to refinance? If so, that's going to piss a lot of brokers off.
Funny thing, when I tried to contact UWM to refi, they forwarded me back to my original broker. I didn't realize UWM was only available through a broker.
No, they don't. They don't even have a retail side. It is either A) Marketing from a third party that dresses it up to confuse people into thinking it is from their current lender or B) UWM is very active in getting business back to brokers. They will be doing much more advertising for www.findamortgagebroker.com for example.
It is one of the many reasons brokers love UWM and have grown them to the largest wholesale lender in the country.
Aaaaaaand I just had a conversation about the with the Account Executive at UWM that is doing that site... it DOES help. It is the third factor involved but will certainly help. They are still working out the bugs but will start to do heavy advertising for it as they just went officially public today. So, THANK YOU.Done - whether it helps a lot or not, I'm happy to do it! By all means post a link that you can get to workand I'll do that review as well
Well loans are most expensive than home loans. (Sorry, couldn't resist... when I first read it I was so damn confused being slow mentally.... "A well loan? Like where they get water from well? What?" And then it dawned on me... type missing the 's'... like I said, slow mentally)
I work in private Healthcare and the field is collapsing. Took a government Healthcare job on a military base, so had to move to where the job was. The goal is to get back to Florida on a base there in a couple years and buy a home again.
Chad interested to get your thoughts on rates the next couple years.....can rates really rise significantly without crushing people at this point not to mention what it would do to our country’s debt/deficit? I know we’ve had a small pop since the election but hard see that continuing....but I know nothing.
Massive cuts in my field about a year and a half go. Six months later, Covid hit. The entire field is corporate run now. Physical therapy was once a stable and constantly growing field. Now, there are very few jobs and most of what you get to do is a waste of time. I could go on for days about what's happening in the medical field right now. Total disaster.
NotebookI tried to add you on LinkedIn, but you haven’t accepted yet. I’m that weird guy who’s business is nothing like yours and is named Steve.
Hard to tell... I have a hard enough time figuring out what rates will do tomorrow let along a longer forecast but the general consensus is for this year and into the next is a steady rising interest rate.
Yea, I know someone or know of someone in all 50 and even PR.
Can you try Googling Chad Masters Home Loans and see if that works. The Google business page isn't working on my phone and when I try logging in online it looks like it is having me set up a new one. ARGH!
Yup... cool guy too. Going from Millionaire tp Billionaire prob won't change him at all.
I got the same letter the other day - I refi'd with Quicken last year and now the loan is being transferred to PHH Mortgage Services. Dumb question, but other than making my monthly payments on a different website, is there any reason I should really care about this?
PHH is known.
I am not well versed in the process but the guy could likely file a complaint with the CFPB and/or higher legal help to sue them. Sounds like a pretty open and shut case of predatory lending.
If it was from a broker, yes. From a bank or direct lender, no. They have that ability to charge more.
Yes, conventional loans are sold to Fannie or Freddie. The servicer takes care of the payments etc.
On my previous mortgage, I'm pretty sure Chase owned the debt and did the servicing. They were making good money though as the rate was 4.3%
They could hold it if they wanted to but pretty much all conforming loans are sold and almost always the borrower has no idea that it was sold on the secondary market. They just know of the servicing rights being sold.The Z Machine said:
my most recent refi, went: broker(never made a payment to them), wells fargo, fannie mae(serviced by wells fargo). nothing changed for me. auto pay through wells fargo the whole time.
Soap box away! They are ####. My wife has worked with them twice due to clients choosing them in lieu of better options. Both times they didn't know the state laws, clearly were incompetent, and either cost them lots of money or failed to close only to have other recommendations save the day.Chadstroma said:
And as a follow up, last week I got a mailer from my current mortgage company (Mr. Cooper) regarding refinancing. Rate was 3.125%, although that was pretty small font compared to the “You can save $$$$$$$$” part. Needless to say, the rate I got from Chad was much lower.
For conventional, it is Fannie Mae and Freddie Mac. It is how the markets work. Lenders originate to conforming guidelines (Fannie and Freddie's) and then when the loan is done sell the debt to them. The servicing rights is what you see in terms of who you pay your mortgage to. Those often get sold but the holder of the actual debt is still Fannie or Freddie.
I take it the wife is a realtor. I don't know of any realtors that would advise a seller to take a Quicken loan on an offer if they had an alternative with pretty much anyone else.
