I am shopping for a mortgage lender. Just signed a contract on a weekend lake house and need to secure financing. If there is anyone on the green screen that is in the business send me a PM.
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Our mortgage company is one of the largest private mortgage companies in the state. I can hook you up with someone good. No big deal if not. Under no circumstances would I go with Countrywide or any other phone or internet lender. WAY too many horror stories. Most of the realtors in our area will refuse a contract if they aren't dealing with a local mortgage originator.
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countrywide originates 1 in 6 mortgages in the US. they are being aquired by bank of america in 3Q. after that, they will originate 1 in 4 mortgages in the US. they are also the largest mortgage servicer in the world. if you go through another company, there is a good chance your mortgage will be serviced by countrywide anyway, or purchased by them.
if you think bank of america will cease to exist then i wouldn't do business with countrywide. not gonna happen though.
good luck in your search. go with the cheapest lender. fixed rate. there are good deals to be had right now.
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Brady and Angela gave me great advise during my CA re-fi recently, not being licensed in CA they could not offer to do any business with me (I don't want to get them in any trouble for their friendly help). It was great to talk to somebody who was not trying to make money off me giving me their opinion on my options.
I'd be wary of Countrywide, but being in the pickle they're in with all the subprime loans they made, they may be under pressure to cut good deals with customers to keep up business. Most mortgages get sold anyway later on, Citi is an exception in that they hold theirs, so do others.
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