Posted by Anonymous on 1/12/06 12:47pm
Msg #87889

Good experience with eLoan

Going anon so other lenders I work with won't be affended I didn't use them. I applied for a refi with eloan on Jan 2nd (needed to pay off a Heloc that's interest rate is climbing) and we are ready to sign tomorrow. The process was seamless, rates were great, no loan officer commissions to pay. They were going to have a SA call me to set up the signing but I reminded them I was a SA...just send me the docs and I'll take the docs needing notarized to my bank.

Reply by Anonymous on 1/12/06 12:49pm
Msg #87891

I mean offended n/m

Reply by Rick_NY on 1/12/06 12:57pm
Msg #87894

Couple of thoughts ... [Re: Good experience with eLoan

> They were going to have a SA call me to set up the signing but I reminded them I was a
> SA...just send me the docs and I'll take the docs needing notarized to my bank.

1. Wouldn't it be interesting to see how somebody else does the job?

2. Why deprive someone of the opportunity to make a few dollars?

Reply by SLP_VA on 1/12/06 1:02pm
Msg #87895

Re: Couple of thoughts ... [Re: Good experience with eLoan

I was thinking the same thoughts Rick_NY.

I've gone through the process twice where a SA came to my home. It was interesting to see how they did their job. It sure wasn't what I expected. The 1st SA was good. He did his job. The 2nd time around the SA just gave my husband and I the stack of docs and told us to go through and sign everthing with our name on it. He said he would then go back and notarize after we were done. I was shocked. I had to explain to my husband what he was signing! It was after we signed everything, that I told him that I too was a SA and I would never hand the borrower a stack of papers and have them just go through and sign without explaining to them what doc they were signing. The look on his face - priceless!

Reply by Anonymous on 1/12/06 1:18pm
Msg #87907

Re: Couple of thoughts ... [Re: Good experience with eLoan

I don't want to pay for a SA fee when I can do the job myself.

Reply by Rick_NY on 1/12/06 1:51pm
Msg #87919

Re: Couple of thoughts ... [Re: Good experience with eLoan

Are you saying that eLoan was going to charge you for that or gave you a reduction for the D-I-Y signing?

Reply by Calnotary on 1/12/06 2:10pm
Msg #87925

Re: Couple of thoughts ... [Re: Good experience with eLoan

I also took an e loan 2 years ago, 2 months later was sold to Wells Fargo. I dont know how they
work. But their fees were very, very very low. I guess thats why they cant pay a SA that much.
I will go to them again if I need a mortgage. And the best thing is that you can play with the numbers
in their website to see which loans its better for you.

E loan was rated number one by some entity I dont recall right now.

Reply by Jersey_Boy on 1/12/06 2:15pm
Msg #87929

Re: Couple of thoughts ...

When I refinanced my home we had an SA come to our home for the signing. She was 1.5 hours late and was dragging a three year old with her (wearing shorts and a stained t-shirt). She never confirmed the appointment, just showed up late.

She didn't explain anything, nor did she keep a journal of what was being notarized. I asked her if she had printed everything herself and she said yes.

I couldn't help but notice that she left her confirmation for the signing out for my wandering eyes to see.... What was her payment for a 1st and 2nd Edocs? A whopping $55.

I didn't say a word to her, but I let the title company and lender know what I thought!