So idiotic that people believe this stuff and let it slide. Bottom line, they want to get it done.
"Well, you won't have a prepayment penalty because when you refinance, we'll waive our commission so you'll recoup it there"
One deal never carries through into the next. New lender, new underwriting, New LO...new everything.
A "petty" LO doesn't carry any weight like that to make that promise for the next deal. Basically, he's just the salesman.
On the flip side I haven't seen a prepayment penalty in probably a decade. |
