No pressure mortgage broker
Written: Jan 11 '06
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We used them to finance our first home purchase and had a good experience choosing the loan we wanted. We hired a real estate agent to help us look for a house, but he complained a lot about how E-Loan wasn't cooperating with him, and that he had to do a lot of the footwork. However, he also admitted that he's usually a seller's agent instead of a buyer's agent, so I suspect he was not accustomed to being on the other side. Personally, I thought that our E-Loan rep was very accessible and was very patient with our newbie questions. In reality, the title company (North American Title) should've been the ones doing more of the coordination work.
One thing to watch out for when you sign your loan papers is a release allowing E-Loan to sell your information to 3rd parties. It has been almost 3 years since our home purchase and we are still being spammed by other mortgage brokers offering refinancing deals. They send email, postal mail, and call. The phone calls were the worst until we got on the No Call registry. Be sure to tell your E-Loan rep that you do not want your information released, and don't sign that release form.
The other disappointment was when they sold our loan to Wells Fargo Bank. See my review of Wells Fargo for details of how they missed my property tax payment. If I had to do it again, I would not opt for the escrow account either.
Recommended:
Yes
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Epinions.com ID:
lk808
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Reviews written: 9
Trusted by: 0 members
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