Today, I officially broke up with TBI Mortgage. As you know, I've been having issues with them all along, some of which I didn't even blog about, like how they mailed me a second GFE in November AGAIN, even though I've told them to never send my sensitive documents through the mail, that I'd either pick them up from their local office or they could email them to me. Shows you how much they listen to their potential customers...
But I digress. Last Thursday, I asked about the interest rate for my loan. I had asked and been told that they would send me the interest rate applicable to my loan daily until I locked; they didn't. So, I asked. By the way, the rate was incorrect on the latest GFE they sent me in November relative to what the rate should've been at that time. In that email, the non-lo0cal loan officer  (yes, they still aren't allowing me to deal primarily with a local representative) told me
        "I'm not sure if you are working with any other lenders, but if you are             and they are giving you a better rate, please send me a Good Faith             Estimate from the other lender so I can see if I can beat it. "
To which I said
        " What do you mean " so I can see if I can beat it.  "?  Aren't you                 quoting me the best you can possibly do for my scenario already?  If you         can get me a lower interest rate with 0 points, then that's what you             should be quoting me.   {...}  I don't do counter-offer, back and forth             with anything money related, whether it's salary or loans.  If you value         my business or worth, then you offer me the absolute best you can off         the bat."
So the next day, I shopped. Despite my policy of not doing counter offers, I did send them the GFE from one of the other lenders that was offering me a better deal.  It was received with silence, and today, when I sent them an email basically saying 'Well?", they responded that their offer is unchanged.  When I told them that I would be going with the other lender (who already has all of my documentation, coordinated with the builder about the title company and has set the ball in motion for an appraisal), all TBI said was
    "I’m sorry we couldn’t do more for you! Please keep my number/email         handy just in case something goes wrong with the other lender.  We will        have all your information on file just in case. 

    Enjoy the rest of your day!"
Really, I should've broken up with TBI months ago and avoided all of the frustration.  I got a 3.5% interest rate and my new loan officer is on point. He seems enthusiastic to have secured my business, and I have a warm fuzzy feeling that I'll close on time. He responds within 10 minutes when I email him, and he's very reachable on the phone; I talked to him at 8:30pm tonight! He has taken the time to figure out how to maximize the use of my realtor's rebate and the builder's incentive money. I didn't tell him that I was using TBI when I got my initial GFE from him (he knows now of course), and he didn't know the terms TBI was offering me, so I'm confident he got me the best deal he could offer me off the bat instead of risking that someone else would beat him, which is what TBI should've done.
Shalini Chandra
12/18/2012 16:55:56

Hi. Thanks for posting your site/blog! We are actually one of your neighbors. ( I recognized your house.) I am curious as to who you ended up going with for your mortgage? when are you supposed to settle?

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Owner
12/27/2012 07:19:04

I ended up using Waterstone Mortgage. I settle on Jan 18, 2012, so in just 3 more weeks! If you haven't settled yet, stop by (since you know where I live) after Jan 18, and I'll give you my Loan Officer's information. I highly recommend him!

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