We think the practice that we are seeing in a PERVASIVE manor (outlined below) is unethical. This is a HUGE problem right now for folks who called around for information and rate quotes for a FHA Streamline Refinance, especially folks who qualify for the lower FHA PMI fees.
MANY of the Banks and Mortgage Companies getting calls about FHA Streamline Refinance Rates are going into the FHA System and pulling a FHA Case Number. Bank of America, best we can tell, is pulling them on EVERY person who calls to inquire.
THE PROBLEM is that the FHA Case Number must then be TRANSFERRED to the company you decide you want to do business with. In MANY cases, we are finding that companies are pulling case numbers, and then being UNRESPONSIVE when asked to transfer that FHA Case Number to the bank you decide you want to deal with!
We will not do this. We feel it’s an unethical practice, and we’ve suggested to several homeowners that they may want to contact both the FHA Response line at 800-697-6967, 8:30 a.m. to 8:30 p.m. Eastern Standard Time, Monday through Friday… or the Banking Commission to report the company “holding” your case number, and your refinance options captive!
The FHA Case Number chase is taking a MINIMUM Of 3 weeks – and we can not go forward with your loan until the people who are holding it Captive “re-assign” the number to us.
If you are in North Carolina, and you are interested in lowering your payments with a FHA Streamline Refinance or you have questions about FHA PMI Rates – call Steve and Eleanor Thorne 919 649 5058. We would LOVE to give you a FHA Streamline Refinance mortgage rate quote that you can use to compare rates and fees!