My personal rant:Due
to the wealth of information available, low interest rates and the do it
yourself shopping spirit of the Internet, Mortgage lenders have popped up
all over the place. No name, no service companies can instantly project an
impressive presence. Local real estate customs and processes are different
in every State. Even nationally recognized companies have issues when they
are not "properly" set up to do business in a given area (This requires
much more than being "licensed")
Problems are normal in the course of a complex
transaction. It's how you deal with problems that sets you apart from the
others. A good local lender gives you a physical presence to have "fix"
the problems. One of the biggest issues with Internet lenders is the
mortgage money showing up on time, unfortunately and very frequently the
money does not arrive in time, setting off a nasty chain reaction of
failed/delayed closings and talk of lawsuits (mention Internet lender to
an Attorney and watch their eyes roll up into their heads) Please shop for
your loan carefully, you wouldn't want to be accused of "closing
interruptus"
