From the first contact, I was told my interest rate would be 4.0%. Representitive (Brian Niklas) canceled the closing twice. The first was because they were missing some paperwork. This came after they contacted my current bank (Chase) to get the pay off amount for which my bank charged $30. The second was because the original rate wasn't available b/c the rate wasn't approved until AFTER the underwriters approved the appraisal. A fact that apparently Mr. Niklas didn't know about. And this is what he does for a living? By then, the rates went up. Again, Chase was contacted to get the payoff amount ($30 fee assessed again), and the closing was canceled, again. My loan was sold to another bank before I signed the closing papers (another $30 fee charged at the final closing). I was told I could make biweekly payments. The new bank has since stopped biweekly payments.
Mr. Niklas called and left a nasty rant on my voice mail about being the most difficult loan he has ever closed. The reason? I asked questions and expected answers. He had to work. He provided misinformation at least three times. I guess most people don't ask questions. Perhaps this is why the mortgage business and our current economy is in shambles. Is it possible to give a business a -5 star rating?