Posted by jfs/IL on 8/18/09 2:50pm
Msg #300646

Mortgage Rate

Are there any companies offering low mortgage rates in the 5% - 5 1/4% ranges?
Any assistance for my son and his new bride would be a big help.

Reply by Vince/KS on 8/18/09 2:57pm
Msg #300647

Yes - based upon earned credit score - seen several this mo. n/m

Reply by John Schenk on 8/18/09 3:17pm
Msg #300651

Did a Quicken on 8/8 for 4.99%.

Reply by FAN_IL on 8/18/09 3:32pm
Msg #300654

Try searching on bankrate.com

Reply by Shoshana Roller on 8/18/09 3:47pm
Msg #300656

Provident is 4.875 today

This is an "A" paper company.

Reply by SheilaSJCA on 8/18/09 4:51pm
Msg #300667

Re: Provident is 4.875 today

Shoshana- do you know how long a typical provident loan is in underwriting these days?... and how long should it take now, still speaking about provident0 to get an appraiser out, on a purchase... any insight would be appreciated.

Reply by Shoshana Roller on 8/18/09 5:46pm
Msg #300673

Re: Provident is 4.875 today

With HVCC in effect right now. I wouldn't even hazard a guess. The appraisal would have to be ordered through an appraisal management company. Then we have the new RESPA regs. I have no idea.

Reply by Alice/MD on 8/18/09 6:17pm
Msg #300677

Re: Provident is 4.875 today

Do they do refi? My friend who is going to be laid off from his job in November need to refi. He is not having any luck with the loan modification program ... his rate now is 6.3. Send me a p/m if any help is out there for him. His credit is very good.

Reply by SheilaSJCA on 8/18/09 6:21pm
Msg #300680

Re: Provident is 4.875 today

Thanks for your repy...Appraisal Management company, sound alot like a signing service, doesn't it! I can already imagine the wheels turning for SS companies trying to get a piece of that workflow...

Reply by Shoshana Roller on 8/18/09 6:38pm
Msg #300688

Re: Provident is 4.875 today

Appraisal Management Companies are generally owned by the lenders. It adds another layer to the appraisal fees raising them by $100-150.
Be sure you thank the FEDS for this one!

Reply by SheilaSJCA on 8/18/09 7:36pm
Msg #300702

Re: Providt is 4.875 today

Exactly! Add a middleman, with the purse strings controlled by the lender, and this will somehow keep everthing legit. Ya, right! Instead of the Lender telling the appraiser, that they need a value of X, they will tell the Appraisal Management Co (who probably falls thru the cracks, like Signing Services, meaning there is NO regulation) what they hope to see on the appraisal, and they will quietly tell the appraiser. Who will say thank you,I will keep that in mind, but will do their job, without any undue influence, as most of them do anyways. As usual, it is the rotten apples that ruin it for the whole bushel. So who suffers? The consumers/borrowers who are paying more for the same thing.