Interest Rates - Call Centers

Joined
Feb 16, 2005
Messages
910
Location
Scituate MA
Refinancing through our current mortgage lender. They ask a few basic questions "Any changes to your finances"...no and "Is it ok to check your credit score"...Yes.

5 Mins after we get off the phone our home landline (does anyone else still have one?) I get a call from "So and So mortgage company"...I asked "who"? I said you aren't
our mortgage company, just got off the phone with them and he continues..."well anyway"... I literally laughed out loud.

Just thinking about the sequence of events and who sold what to who and wow that was fast. Like as soon as they check our credit score, that must trigger bells or they pay
to be notified of that. I'm not big on privacy but it was eye opening...

I have this Chrome extension UBlock Origin and that gives me some insight in to who sees my data. Just for instance...I went on NY Times
and I attached a screen shot of who tracks and or is also having a look at my data.
Screenshot 2020-10-17 at 6.18.41 AM.png
 
Almost done refinancing with a different lender.

2.375 x15 yr no closing costs.

I called current lender for rates and they said we'll give you 3.25 x 15yr... LOL

I asked do you even want my business?

They replied that they would match any rate I'm quoted but they wouldn't give me a competitive rate just for asking... Hmm

BYE
 
NY Times website seems pretty tame. Doubleclick (an ad network) and Google are the only 3rd-parties. Odds are the Google ones are related to NY Times lets you login using your Google account (I don't know if they do, but this is my guess) and play.google.com is their app store and NY Times has their own app.

As far as the unsolicited call offering a mortgage, yeah, that's fast, but I guess I'm not surprised. They're just getting better, more connected, more efficient, and so on as time goes by. Problem is, finance companies will give you the option to "opt-out" of these things but not until well afterwards and by then, it's too late. Your data has been sold and sold and sold to dozens if not hundreds of companies.
 
I personally do not like when companies advertise that they will match an offer. Why go through the hassle of trying to get something matched, if you can beat my current lowest price, you will get my business. I remember several years ago when Staples used to advertise they will give you 10% off your lowest price. Made sense to go there if possible.
 
The process is more instant these days but it has been going on for a long time. Buy a house or a car and you would get mailings from real estate agents or add from car dealerships. Most of it made no sense since you already made the purchase.
 
Almost done refinancing with a different lender.

2.375 x15 yr no closing costs.

I called current lender for rates and they said we'll give you 3.25 x 15yr... LOL

I asked do you even want my business?

They replied that they would match any rate I'm quoted but they wouldn't give me a competitive rate just for asking... Hmm

BYE
No closing cost out of pocket.
 
No closing cost out of pocket.
Not rolled into loan.
Original quote was 2.125 for $2400 total closing costs.
2.25 for $1300
2.375 for $0 closing costs.

I opted for a tad higher interest rate to have $0 closing costs instead of $2400.


Break even on $2400 closing costs was going to be over 12 years.
I'm planning on having it paid off in approx 6-7 years.
 
Not rolled into loan.
Original quote was 2.125 for $2400 total closing costs.
2.25 for $1300
2.375 for $0 closing costs.

I opted for a tad higher interest rate to have $0 closing costs instead of $2400.


Break even on $2400 closing costs was going to be over 12 years.
I'm planning on having it paid off in approx 6-7 years.

Why dont you share the lenders name with us? It would be of help!
 
I personally do not like when companies advertise that they will match an offer. Why go through the hassle of trying to get something matched, if you can beat my current lowest price, you will get my business. I remember several years ago when Staples used to advertise they will give you 10% off your lowest price. Made sense to go there if possible.

Exactly, I avoid anyone who matches prices and always go with the one who was lowest to begin with. Think about it, its like saying "we will screw you unless you find a better price"
I see Best Buy Stores have gone that route in the last year or two. Heck with them. First lowest price always wins, goes for anything including loans.
 
Refinancing through our current mortgage lender. They ask a few basic questions "Any changes to your finances"...no and "Is it ok to check your credit score"...Yes.

5 Mins after we get off the phone our home landline (does anyone else still have one?) I get a call from "So and So mortgage company"...I asked "who"? I said you aren't
our mortgage company, just got off the phone with them and he continues..."well anyway"... I literally laughed out loud.

Just thinking about the sequence of events and who sold what to who and wow that was fast. Like as soon as they check our credit score, that must trigger bells or they pay
to be notified of that. I'm not big on privacy but it was eye opening...

I have this Chrome extension UBlock Origin and that gives me some insight in to who sees my data. Just for instance...I went on NY Times
and I attached a screen shot of who tracks and or is also having a look at my data.View attachment 31908
Yup, last 30 days below
 

Attachments

  • Screen Shot 2020-10-24 at 8.23.37 AM.png
    Screen Shot 2020-10-24 at 8.23.37 AM.png
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Why dont you share the lenders name with us? It would be of help!

Currently 2.25% is advertised with $2400 closing costs
no closing costs would be 2.5%

I think at this point in time I doubt a refi would close before the dec 1 fee gets added in . I don't think the fee is a huge expense but everything adds up.

Was at 2.125 for 15 yr on the daily rates part of their website when I applied.

Lenderfi.com also nice because it give you lots of rates without talking to anyone. They are a little higher than go mortgage .
 
Exactly, I avoid anyone who matches prices and always go with the one who was lowest to begin with. Think about it, its like saying "we will screw you unless you find a better price"
I see Best Buy Stores have gone that route in the last year or two. Heck with them. First lowest price always wins, goes for anything including loans.
Depends on the situation. The lowest price isn't always legit, price matching from legit source can be better. Plus certain things like tires, I'd get the local tire merchant to price match vs just buying online. You get local service that way. Also for contacts, I use 1800contacts, they have the highest regular price, but they price match and beat by 2% any price. So they're actually the lowest and they price match even when there's a rebate but you don't do the rebate, you just get the price match after rebate which is even better. They have additional features like getting a free contact if the one you have rips for any reason.
 
Depends on the situation. The lowest price isn't always legit, price matching from legit source can be better. Plus certain things like tires, I'd get the local tire merchant to price match vs just buying online. You get local service that way. Also for contacts, I use 1800contacts, they have the highest regular price, but they price match and beat by 2% any price. So they're actually the lowest and they price match even when there's a rebate but you don't do the rebate, you just get the price match after rebate which is even better. They have additional features like getting a free contact if the one you have rips for any reason.
Good point on the "tires" and and that statement about brick and mortar competing with online. Im good with that and I agree, in fact when purchasing something like tires, that needs a physical location to have them installed or a product that might need local service I will to this day favor the local business IF the price is the same in the end. Even though I still dont price match because automobile servicing is rare compared to everything else I do.
Other then that I find it easier to do things online, price wins in that respect. Ok, if a local bank matches online pricing for a mortgage refinance that is ok, Ive done that just remember that the internet confirmed the price for you or without hesitation I would have went with the internet and to this day I still do.
Just about everything else I do is on the internet, including our bank, which is a credit union guessing maybe a 1000 miles aways from me, never even saw the building or buildings. I just know they exist because they are well known.
Opened the accounts online, spoke to no one and sent all our money to them, I do keep a local banks with a min for the heck of it at no cost. But the far away credit union excels at day to day interest rates and no fees or catches. Believe it or not, the online credit union offers much easier access to my money, granted in small sums at 10s of thousands of ATM machines, no cost and even local back ATMS were there is a cost, automatically reimburse your account for the fee. I dont have to do that because all credit unions and many local stores have free ATMs for my credit union.
I also have stock brokerages accounts, again, never walked into a building. I find it much easier to do with a keyboard and desktop computer, even phone.
Contacts, do that too, lowest price always wins, (I dont do rebates either) sometimes to my surprise Walgreens beats the others with their online discount, I order and pick up days later, other times I ordered them from other companies based in Canada. I did have a problem for the first ever time with the left eye contacts, they were tearing. I contacted the manufacturer online, a weeklong process, they sent me a complete new box with return for the old ones.
 

Currently 2.25% is advertised with $2400 closing costs
no closing costs would be 2.5%

I think at this point in time I doubt a refi would close before the dec 1 fee gets added in . I don't think the fee is a huge expense but everything adds up.

Was at 2.125 for 15 yr on the daily rates part of their website when I applied.

Lenderfi.com also nice because it give you lots of rates without talking to anyone. They are a little higher than go mortgage .
Thanks for sharing!
 
Good point on the "tires" and and that statement about brick and mortar competing with online. Im good with that and I agree, in fact when purchasing something like tires, that needs a physical location to have them installed or a product that might need local service I will to this day favor the local business IF the price is the same in the end. Even though I still dont price match because automobile servicing is rare compared to everything else I do.

Contacts, do that too, lowest price always wins, (I dont do rebates either) sometimes to my surprise Walgreens beats the others with their online discount, I order and pick up days later, other times I ordered them from other companies based in Canada. I did have a problem for the first ever time with the left eye contacts, they were tearing. I contacted the manufacturer online, a weeklong process, they sent me a complete new box with return for the old ones.
Also I'd also do price matching for interest rates if the difference is between an in state and out of state bank. Laws vary from state to state and an online place that may be licensed in 40+ states might not know the particulars of a state they don't do that much business in especially if its the rep randomly answering the phone. One that is based in the state will know all the fees and procedures for that state. Too many horror stories with out of state banks, I always tell my buyers to go with one in state and a dedicated mortgage professional who has been doing it for years.

As for ripped contacts, I just call 1800contacts and they take your word for it and send you a new contact by first class mail.
 
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