Transparent Truths: Royal United Mortgage - Prospective Clients and Em...: "Royal United Mortgage (RUM), a small Indianapolis, Indiana, based mortgage lender specializes in refinancing. It was a company launched duri..."
Wednesday, June 1, 2011
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I was just in the process of refinancing with Royal United. After providing everything they promised, and being offered what I thought was a great deal, the lian officer e-mailed me and said after reviewing the 'fuindings'they didn't have enough information to offer me a conventional loan but they could offer me an FHA loan but that would require Mortgage insurance and escrow. That is exactly what I was trying to avoid. The payment had changed from a reasonable monthly mortgage to a higher amount that I felt was unreasonable. They made me pay out of pocket for an appraisal and then when they decided that they could only offer an FHA loan, they told me I would have to pay for another appraisal. I was floored! I worked rely hard for this, sent TONS of information. Some of it they requested twice. I figured maybe they lost it and didnt like that because it was PERSONAL info. Finally after being offered a deal we didn't want, I emailed my loan officer, explained why we were declining and then complimented him for trying so hard. I received NOTHING BACK. NO RESPONSE AT ALLL. I was surprised by this. He seemed like a really no e guy and would understand. Now I'm even more happy I declined!!!
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