My husband and I both used to work at 2 of the largest banks(which I shall remain nameless – but you know who you are) and just because we had the big name behind us didn’t mean it was such a great fit. For some reason the banking customers thought they were getting or could get a better deal because their money was with them. Well, that is not always the case.
We could no more do anything special for you if you had a million bucks with the bank than if I worked for another mortgage company.
And since we switched companies we have been getting good faith estimates from our old banks. One thing I want to challenge anyone that is trying to get a mortgage with a “bank” is to make sure you ask what their turn times are. How fast is the loan underwritten, processed and closed. At my husbands last job – it was 70 days.
The banks focus right now is on deposits – not lending money.
Anyone can quote a rate but if you can’t honor the rate quote because a lock expires then what good is it.
Working with a smaller company can be a good thing – you can actually get the personalized service that you deserve.