i am bummed cause the condo i wanna get will not close escrow on the intended date. but there is one thing i am sure of is never to go with those small lenders.
one of them is known as AMX alternative mortgage express ... www.amxloans.com ... one of the divisions of land home financial services, inc.
waste of time and money if you are dealing with this lender ... probably ran out of money or whatever.
we are putting almost a 50% down payment on a 469K condo, we have no outstanding debt and our credit score is high up at 870 points. if we are the ideal client than you other folks out there forget about getting a loan from this lender cause they will waste your time and money to come up with a lame excuse after pre approving you to deny you the loan in the very last minute.
we were slate to close on august 31st and was very ready to sign closing on august 27th then was told by our loan officer that it is a red light!
and their excuse was the condo / building was not fannie mae approved ... and shouldn't they know that right away if they do their diligences? who are you kidding? and with a 220K down payment we are not going for a low income loan ... seriously.
i also posted in a threat to answer someone's question:
AMX alternative mortgage express. who has used this lender?
Has anyone used this lender? any comment?
by gaofengxu August 13, 2009 2:59 PM
A horrible experience with them and it is recent too. Just yesterday!
My husband and I were suppose to sign to close escrow and they just decided that they do not want to give us a loan in the last minute ... and our closing date is the 31 of August and I hate them.
We provided them with all the requirements and this is for a 469K condo and we are putting 220K down which is almost 50% and we have no debt whatsoever and both of us with great credit score 870s.
We were pre approved ... so now we are going with Bank of America cause AMX wasted our time and money!!! And I am grateful that the buyer is understanding in this matter.
If this is how they do business ... you have to beware.
by petitespoon August 29, 2009 3:07 AM
so you live and learn ... go with the big guys ... Bank of America or Chase ... great experiences with those two banks.
we just locked in a 5.30% rate with B of A ... not too shabby.
another back story was we did have a back up lender called PMC BanCorp www.pmcmtg.com
you can call this lender nosy or what ... they were asking for the details on deposits i made into one of our checking accounts and needed bank images to verify ... verify for what? that the 11 dollars i made selling beads on ebay was legit? ... is that going to pay for the mortgage? why not look at our income from a job for example, those are steady income that would pay for the mortgage ... not my 11 dollars or 13 dollars a month selling beads on ebay!!! ... what a bunch of retards ... thank goodness i am not going with any of these lenders!
even the B of A loan officer dropped his jaw when he heard all this craziness.