Why Use Rateseekers.com AND Who in the Heck is Wayne?!?

A telephone call or a stop into the local bank usually initiates the typical loan transaction. After you meet your loan officer face to face there is usually some questions answered about the type of loan you are seeking and possibly you are queried about your credit history. Within a few minutes, you are handed an application to fill out. After completing it and signing some release forms you shake hands and leave your information with the loan officer to 'do his thing'. The hope being that you will get financing for your new home soon.

INBOXES AND VOICEMAIL. yuk!

Well, what happens after you leave? In most cases, your application and disclosures are checked for accuracy and signatures and then they are stacked together with about 10 other loans and placed in a large Fed-Ex envelope and shipped off SOMEWHERE to central office for processing. At 10:30AM sharp the next day your application package lands on the processor's desk to be added to his/her already large pile of applications. Now your loan application is nestled snuggly in the INBOX with about 49 other application packages awaiting his/her undivided attention. Around 3:30PM the processor finally gets to your application and low and behold on the first reading she discovers an omission of some important information, like a phone number or your bosses middle name. Then everything stops, because she cannot continue without that information. So she picks up the telephone and calls your local branch so the loan officer can get that information from you. The telephone rings and the only contact she makes on the other end of the line is with your loan officer's VOICEMAIL!! So back to the bottom of the pile you go until he calls back with the information. The next day the officer finally gets around to his VOICEMAIL and puts a call in to you for the information. Guess what? He gets your VOICEMAIL because you are at work trying to keep the bills paid and the credit rating up! Then you get home from work AFTER the bank has closed and are forced to wait until the next morning to call. Meanwhile two days of your 30-day contract to purchase has ticked by.

It's not over yet!?

You call your loan officer back promptly the next morning and he leaves a VOICEMAIL for the processor and another day goes by before that one piece of information makes it into your application package. So, what happens when this process is repeated through several omissions and mistakes? In addition, in those 2 days 20 more applications have made it to the processor's desk!! All the while your application package is nestled snuggly at the bottom of her pile waiting. Waiting for someone to give it personal, professional, and expert attention. This scenario may seem far-fetched but you can ask just one of the numerous people that each month have to have their realtor beg the seller to extend the contract because the money to purchase has not yet been secured. This can and does turn into a nightmare. So how do you avoid this nightmare?

DO YOU EXPECT Personal, Professional, and Expert Attention?

It's simple, come to RATEseekers.com and enter Wayne's World. Once your loan application lands on Wayne's desk, it immediately begins to receive his personal, professional, and expert attention. What does that mean to you? It means when he prepares your application for submission to a lender any pending or potential problems are caught and corrected early. It means that after evaluating your needs that your complete and accurate application package is submitted to the appropriate lender or lenders. This insures you will arrive at closing with the confidence that any problems have been caught and corrected and that you have financing solidly in place. Now that's peace of mind! Many times at closing those 'last minute' glitches can cause many anguished moments or even an aborted closing. That would not make you a very happy camper! You are looking for a good interest rate and a successful closing right? Rateseekers.com knows how to avoid those difficulties and make the closing happen.

RATEseekers.com TO THE RESCUE

Here is an example I witnessed of a closing that could have had an overall domino effect on 4 separate transactions suddenly blowing up! It was discovered that the purchaser could not verify the origin of the funds they were using for the down payment. Everyone looked around the room wondering what to do. No one seemed to have a solution to the dilemma. Although he was not involved in the financial aspect of this transaction, Wayne stepped up and asked the purchaser 3 simple questions. 1. 'Do you actually have the funds to close in your account?' They answered, 'Yes the money is in there'. 2. 'Where did those funds come from?' They answered, 'From my work and from my sister.' 3. 'Is your sister available today?' They answered, 'She lives her right here in town.' Within 45 minutes the closing agent had a notarized 'gift letter'(a legal requirement for that particular type of loan) from the sister in hand and the closing continued and finished without a hitch. Good thing Wayne was there or else that closing could have ended without a solution. That could have possibly cost the purchaser their dream home and their earnest money plus cost the seller 30—45 days of precious time to sell his property. Not to mention it would have cancelled out the other 3 transactions that hinged on this one! Now obviously Wayne or other loan experts cannot personally be at all closings but be assured that our expertise is just a phone call away! This situation should have never happened at the closing. It should have been taken care of long before. RATEseeker's.com brings expertise and problem solving ability to your loan. If you want personal, professional, and expert attention then RATEseekers.com is the place for you.

Here's another rescue I witnessed!

Also if you desire the peace of mind that you are getting the right loan product for your loan situation then RATEseekers.com is just right for you. Recently, Wayne was approached by a couple that had a contractor build them a New Dream Home but could not move in because the bank that previously approved their loan was purchased during the construction period. The new bank reviewed their loan when construction was completed and denied them.

Unbelievable huh?

I mean who could have known this was going to happen? They were in shock at being turned down and felt hopeless. On the advice of the new lender, they attempted to secure a 'B' paper loan ('B' paper loans are high interest rate loans for individuals that do not quality for the lower interest rate FNMA/Fannie Mae or 'A' paper loans). Obviously these borrowers were very upset with this lender. They proceeded to find other financing through 2 other lenders who also quoted them the same rate and terms. To say the least, the borrowers dream of home ownership was shattered at the last minute.

When Wayne received the call from them, they had been offered the possibility of a 10.5%!, 30 year fixed rate loan. That was a far cry from their original offer which at that time was 7.0%!.

On the recommendation of a friend they contacted Wayne in the hopes he could secure a 10.125% loan and save them about $40.00 on the monthly payment for this nearly $200,000 loan. Before long they had all the necessary paperwork in front of Wayne and I watched him begin to evaluate and compile the loan to send to the appropriate 'B' paper lender as they had requested. As he gave attention to their application, he began to comment to me that he felt he could find an 'A' paper lender to accept the loan! After spending several hours with the loan application, he sent out 2 packages. One package to a 'B' paper lender for 10.125% as the applicants expected and another to an 'A' paper lender he had chosen to match the applicants' credit and job history. Within 2 days he had a YES conformation from BOTH lenders! Of course having the applicants best interest in mind he chose the 'A' paper lenders offer of only 7.250%, a savings of 3.250% or over $418.00 a month! In other words, he saved them over $5,016.00 a year in payments and over $150,509.00 for the life of the 30-year mortgage. $$150,509.00 dollars!!! The applicants were ecstatic and I then knew Wayne had done something significant and helpful for them that no one else had even been able to come close to accomplishing for them. Funny thing is the 'B' paper lender had over 8 contingencies for the applicants to meet before giving full approval and the 'A' paper lender had NONE!

PEACE OF MIND?

Wouldn't you like this kind of peace of mind RATEseeker's.com expertise could give you? Wayne has founded and launched RATEseekers.com so that you too may tap into this incredible expertise and problem solving ability. By filling out the online application you start the process by which you bring the full experience and ability of RATEseekers.com to bear on your mortgage situation. If you have a contract on a house or are interested in a property simply fill out the online APPROVE-ME! form and allow us to contact you about your needs. It may seem strange to seek out a loan online but rest assured we are a licensed mortgage company that is conducting business in our local community as well as across the U.S. When you become involved with RATEseekers.com we will give you our full attention and utmost personal consideration during the entire process.

DEDICATION

Take time to read the other 'Wayne's World' articles and you will find out the truth about interest rates and the home loan process. After you have become familiar with RATEseekers.com and 'Wayne's World', you will see that we are dedicated to serving you and helping you acquire your dream home or investment property.

WHO AM I?

My name is Mitch and I work with Wayne. Not only am I college, but before I came aboard RATEseekers.com I secured my home loan from Wayne. My loan was my first and a problem. However with great skill and consideration Wayne navigated our loan through all the pitfalls, put together all the puzzle pieces and we currently live in our 'dream home' and I know that without Wayne it would have never happened. When I knew nothing about home loans and mortgages Wayne helped make the impossible happen for my family and I continue to trust his expertise and experience in dealing with my clients on a day to day basis. I did not lose. Neither will you!

Author: Mitchell Burks

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