Via radio ads, a local(?) lender is telling people who are already in the process of (or are about to begin) applying for a loan to simultaneously apply with them, as well, so they can compare. They even state that it's the only way to get the best rates/fees (or something to that affect). I have no idea what all the implications of doing this might be for borrowers, but seriously?!! I bet title co's (and other lenders) all over the place are just loving this. NOT!
Not sure what the implications, if any, might be for us either, but it once again reinforces the fact that lenders will always get creative when it comes to trying to generate business for themselves... |