kincaid1 asked:


We refinanced our home recently. I was asked how much our existing loan amount was, lets say I told the loan officer it was $110,600. He said we’ll round it up to $111,500 because there is usually more that is owed than what you see on your statement. When we closed, it said our payoff amount to the old loan was $110, 976 and my new loan amount was going to be $111,500. Why don’t they just refinance the payoff loan amount? Does that mean that the bank just made an extra $500 off of us to refinance? Why is it done this way? Thanks for any help.
James, yes I reviewed the GFE and paid the closing costs out of pocket.

Ruben

zephyrs asked:


I bought the house last year for $377K, Now it is worth $300 - 320K. This is the estimate that I got from a loan officer.

I owe the bank about $280K. Is it possible to refinance it? I have excellent credit score and solid income. My current lender is Bank of America

Shannon

mcoopd1 asked:


have spent 3-4 week trying to refinance my mortgage loan & each time the loan officer I’m working with promises me that he is the person that can get my loan done…but it really comes down to the underwriter decision. Why can I just work with an underwriter instead of a loan officer? It will say sooo much time!

Alma

dr_grant_22 asked:


I am new to the industry and would like help from some one with lending experience to coach me and show me how to get started as a loan office. ow may I better serve people who need a loan or a refinance? How do I find people who need a loan or refi? what else can I do to grow my business?

Esther

Sam asked:


I'm a loan officer and recently I 've heard that Washington Mutual will make its mortgage loan closed without charge and will use its old value. Is this true or there is closing cost when it 's all said and done?

Betty

prezgirl asked:


I am a loan officer and i have not been able to get too many people to refinance. As you know we live on a commission base and sometimes it gets pretty hard.

Antonio