We heard from a reader last week who was declined for a mortgage by a Big 5 bank. The problem was not with him, however. The problem was his banker’s ineptitude. Fortunately for Ralph (his name), he was particularly well-versed in the bank’s guidelines, having researched rental financing in the past. When the banker told him he was declined, Ralph...
We came across a mortgage customer this week who decided it was a good idea to change the date on his job letter. Apparently it was old and he didn’t want to ask his employer for a new one. Sure enough, the lender called his employer’s HR department to validate the job letter and sure enough, the lender asked the...
How much would you have to save to deal with a mortgage lender that had no in-person or telephone advisors, just ultra-low rates, live chat support and a reliable, efficient user experience? If you’re like 16% of mortgage shoppers, you wouldn’t deal with that kind of lender at all. If you’re like 18% of mortgage shoppers, you’d happily use an...
Someday you’ll be getting mortgage advice from an online robot. This “chatbot” will ask you questions to determine your needs. It’ll then recommend the most suitable mortgage based on your answers and its programming. Today, of course, people use human mortgage advisors for this very same thing. But robo-advisors are different. They don’t: Sleep (They’re available anytime you are, 24/7/365)...
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