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NOTICE TO OUR COMPETITORS
August 21,2008 AMERICAN INTERBANC INTENDS TO VIGOROUSLY PURSUE COMPETITORS WHO ARE NOT POSTING
RATES THAT ARE AVAILABLE TO CONSUMERS.
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AN ADVERTISED 30 DAY QUOTE THAT IS NOT LOCKABLE THE DAY IT IS ADVERTISED IS FRAUD AND VIOLATES FEDERAL LAW. ·
IF YOU HAVE BEEN THE
VICTIM OF ONE OF THESE TACTICS LISTED HERE, PLEASE CONTACT US AT
INFO@AMERICANINTERBANC.COM
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PENALTIES CHARGED FOR
CASH OUT REFI’S WHEN NONE EXIST IS BAIT AND SWITCH.
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PENALTIES CHARGED FOR
DOWN PAYMENTS LESS THAN 20%, BUT GREATER THAN 10% WHEN NONE EXIST IS BAIT AND SWITCH.
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CREATING ARBITRARY
UNDERWRITING GUIDELINES IN ORDER TO AVOID HONORING AN ADVERTISED RATE IS
BAIT AND SWITCH. Here are two examples of what consumers have experienced. Dear Ms. Cannata,
I hope your New Year is going well.
Thank you so much for the home loan. You never played games like two other mortgage brokers did with me on two other transactions. They both called to say they couldn't get the promised rate lock interest on the loan at the last moment before the loan was to close. Nations Choice Mortgage raised the interest rate .125% on the very last day as the escrow was going to close, not to mention a hike in costs. When I submitted my application to them, they both said my rate was locked. How can they change the rate at the last minute?
I was so angry with both these companies and will never do business with them again.
Sorry for venting about the other two companies, but I want to thank you for your professionalism and honesty. You delivered exactly as promised and the process went so smooth.
Respectfully,
Steve Blanchard
"FYI: She told me that that rate is for a "perfect loan". No cash out, full documentation, no self-employed, etc. It has to fit in their "box" in order for them to look at it".
Radmila
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FINDING A REASON NOT TO
HONOR YOUR FLAT FEE RATES FOR HIGHER LOAN AMOUNTS, WHERE YOUR MARGINS
DROP TO ZERO OR BELOW, IS BAIT AND SWITCH. |
