OK PEOPLE....WHO NEEDS MONEY NOW?!!!!

Whyfi i am a broker.....

i deal with over 60 banks nationwide how can you beat a selection like that....

i deal with all loan prgrams so if this one isnt for you i will be more then happy to assist you with another program...

besides the best way to get the best rate is ALWAYS competition, no?

Says that you work for a bank in your sig?

Franklin First Financial is the name of our firm....we take care of all types of loans for all types of borrowers...

commercial, residential, new construciton, foreclosure bailouts, etc.

rates right now on average for a decent credit score going full doc is at about 6.25 to 6.75

my last loan that i did this guy had a 745 FICO and i put him in a 30 yr fixed rate at 5.95%

I dunno... something just rubs me the wrong way... I'm not going to out and out say that it's intentional, but there seem to be too many... misunderstandings... And if I'm going to trust the loan on my home with someone, I want someone that sounds professional. "my last loan that i did this guy..." Unless you have some compelling reason, I think that I'll pass.

listen i didnt post on this site to explain everything on the computer.....if given the opportunity i think i can prove myself with out a problem.....i can " wear the black eye " because of what was done to you in the past i dont mind.....but you have to understand the only way to prove myself is to do good work for you ....and dont forget you are never forced into anything. If you dont like the numbers you walk away no harm no foul.

HOW PROFESSIONAL CAN YOU SOUND ON A COMPUTER......give me a call
here s my number one more time 718 486 4703

and if i dont hear from you it was nice talkin to you

Is this the Franklin First Financial that you're associated with? Are you aware of the google algorithms? Are you aware that the more links to a certain page, the higher up the search results the page will climb? I'm going to go ahead and encourage people to link to this page, so that when someone checks up on your firm, they'll see this exchange as an example of what the firm is all about.

I was being kind when I said that I wouldn't go so far as to say that you were intentionally misleading. I DO believe that you were being intentionally misleading. It was no accident that I stated my questions pretty clearly, and you continued to insist that the interest rate was indeed 1% until bullshit was called on you several times.

I think that you're not a professional. I think that you do the lending community a disservice. I think that several regulatory institutions (in addition to your superiors) would find this discussion most interesting. I think that, if I were you, I would edit out all of my statements in an effort to not get my ass in a sling for attempting to pull the wool over potential borrowers' eyes.

WhyFi wrote: Deferred interest? What's that?

sounds a lot like a balloon mortgage to me. or perhaps a sawed off shotgun?

Franklin First Financial - Eric Shumacher
i read somewhere that google made a change to their algorithm
in order to circumvent googlebombing :-k

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=D>
posts with all caps get bombed!!!!!

Hey Whyfi

you know what i thought ......i thought that you were actually someone interested in a loan.....looks like i was wrong.....it looks like you were just bored and needed someone to talk to....unfortunately i got cuaght up in it.....as for the information i gave it was 100% accurate......if you dont like the program so be it....but please dont insult me by saying that i was dishonest because i really dont work like that.....i told you the 1% is the starting interest rate and can be adjusted after 5 years.....also telling you about deffered interest and explained it all.....LOOKS LIKE I WENT OUT OF MY WAY DOESNT IT.....but all you have to do now is come back at me with something like this.....well that just shows what kind of person YOU are.....i think we are done here.....thanks for your time

i heart the interwebs O:)

No, actually, you weren't 100% accurate with me.

I am intimately familiar with mechanics of option ARM loans. In most instances, the first month features a 1% interest rate (a couple years ago, it was 1.25%, but I digress). After that, the interest rate is going to be based on an index (take your pick - CODI, COFI, MTA, etc) plus a margin. You will continue to have a 1% payment option after the first month, but the rate that your balance accrues interest will be based upon the index and margin, which will vary each and every month. Now, after the first 12 months, that minimum payment option will increase by 7.5% of the payment, as it will every 12 months thereafter for the first 5 years. In the unfortunate event that your mortgage balance increases by 10%, the loan will be recast, and many of your options will go away. Because the loan DOES have the ability to defer interest by up to 10% of the loan amount, this loan is limited to a CLTV of no more than 90.

ALSO, this loan happens to be a fan favorite of slimy LOs everywhere because you can get a pretty nice yield spread and because it's easy to dupe people in to thinking that they're getting a lower rate than they really are...

Did I get most of that right?

and you seem to have left out the part when i said THIS LOAN IS NOT FOR EVERYONE.....

Or, indeed, anyone.

thats your opinion.....and you are def entitled to it......but i have a few clients who would strongly disagree with you

And you seem to have left out the part where I asked you if the INTEREST rate was 1%, and you said -

1% is the interest rate

Other than the first month of the loan, that is a completely false statement. BUT, a second time, you said -

it is a 1% interest rate just like i said.....

As I said before, it was no accident that I worded my questions very carefully. I spent several years in residential lending, including LO, Sales Manager, and Operations Manager overseeing processing and underwriting. I know your type - I've trained in scores of you, except I always urged them to be on the up and up. Now, would you care to backtrack and edit out all of your spam, or would you like me to forward a link to this thread to interested parties? If I were you, I'd delete my posts, go out and get drunk with the other 20-somethings in the office after work, and think twice before trying to dig up gullible borrowers on a message board.

WOW something really bad must have happened to you.....i never met anyone as negative as you are.....unfortunately im new to this site so i dont know how to delete posts.....besides i am def sticking by how i represented myself and i wouldnt delete even if i knew how.....so this is where i say good bye.....and enjoy interrogating someone else.....BTW you are def FAR OFF from my age......so dont quit your day job...GOOD LUCK

I'll take that as as affirmative to point the appropriate parties towards this thread.

i have a better idea why dont you just call my office and ill put you through to the owner of the firm....i dont think there is a better place to submit a LEGITIMATE complaint then with the owner....would you like the number???

I doubt that the 'owner' of a refi chop shop gives a shit about his lying salesmen. No, I've been in the industry long enough - I know who to alert.

WOW a refy chop shop huh.....is there any other derogatory comments you would like to make.....you know im in my early 30's and although that may still be young you are definately the child....i think this is where i say good bye and it has been a real pleasure..... :-k

props to WhyFi on this .

(i love it when a board bands together). i have really enjoyed reading this thread. WhyFi, you ain't a "defender" for nothing -- you, sir, are my hero for the week! =D>

props Whyfi!!!!! / /