

1,875,618
Good luck trying to fix that. After you've got that wrapped up try reforming the car industry too that does the same thing.
Everything is based on that good ole' FICO score.
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Jennifer Mackay
Panama City, FL
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Nina Hollander, Broker
Charlotte, NC
232,119
It's been bait and switch for years - why change it now? *insert scarcastic Humph here*
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Jennifer Mackay
Panama City, FL
5,396,515
It is a bait and switch tactic and I don't like it at all. And it often confuses home buyers.
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Bob Betel
Sweetwater, TN
2,231,519
I get the information directly from my preferred lender. If a client ask about interest rates, I forward them to the lender as well.
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Anthony Acosta - ALLAT...
Atlanta, GA
3,074,716
5,205,906
I really pay no attention to this stuff but provide buyers needing pre-approval and mortgage help the names of several lenders I know so they can decide
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Nina Hollander, Broker
Charlotte, NC
4,322,295
Wesley Johnson - just an advertising gimmick it is. To make the phone ring.
Don't we do the same sometimes?
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Bob Betel
Sweetwater, TN
3,764,591
Wesley, I think that people with low credit scores might realize they won't qualify for the lowest rate until they pull their numbers up.
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Nina Hollander, Broker
Charlotte, NC
3,988,144
I do think it is somewhat deceiving and that the consumer is always disappointed to find out they don't meet the qualifications.
634,582
I'm more concerned with the restrictions on lending to self-employed people who show lower income due to write offs for business, and restrictions on laons to some condo complexes.
1,547,084
I'd love to see it brother! The fine print is always fun, like on cars "for well qualified lessees" but they never tell you that you need a 2000 credit score and a letter signed by God.
6,774,535
I think that most intelligent borrowers know this game and are not that surprised.
1,157,847
If the regulators or legislators have an issue, they will make the necessary changes.
225,576
There is always lenders tht will do anything to get the phones to ring. People, not just in lending, do bait & switching marketing all the time. Personally, I have never bought anything based on listening to the radio or TV ads.
And its not just lenders, but agents do it too. Like listing a house under value to attract multiple offers. Car dealers do the same thing. "Buy for $299 per month, then you go to the dealership and they don't have those cars.
1,269,775
What can I say? Need to shop around.... That was why government generated APR since lenders never were honest with interest rates.
There are 12 different ways to calculate interest rates.
3,448,781
I would love to cure all of the deception, false and misleading tactics used in the world. Can we start with the politicians and work our way down the food chain?
4,796,638
Ahh, it's all in the small print. Always.
It's not something I spend a lot of time thinking about especially when I have trusted lending partners available to refer and explain the nuances of mortgages to clients.
1,014,938
It's how it is - unless we stop voting in idiots to make rediculous laws, these types of things will never change
5,585,039
2,874,548
I remember country wide mortgage right before the crash offering a rate, locking it in and days before due to close, raising it for no reason saying take it or find another lender in one weeks time (contract close date). Even the listing agents were shocked at this. Results? They got away with it
1,466,257
Wesley Johnson I think they can get away with it because with perfect credit, they may qualify at this low rate.
152,917
People with bad credit really should realize this only applies to those with the best, but then again some people think they can buy a house with next to no income, no money down, and very poor credit. They need an excellent loan officer or Realtor to educate them on the process.
8,244,666
Our local lenders provide this information. This is always a good blog topic for you.
3,417,759
We sure do not need any new government regulations, especially from this administration. I have my buyers check with 2 trusted lenders and get the best rate and service.
5,566,098
1,713,581
4,434,277
2,448,781
2,443,346
3,224,722
I pay no attention to those. I get folks qualified through a reputable lender.
1,525,616
1,153,799
The lender can invariably prove that at least one customer achieved that rate. Just because a non-FICO score gives you a 785 does not mean you're entitled to a best rate. We're in the thick of smoke and mirrors for sure although a reasonable person should know that.
2,366,104