Originally Posted by
Chris99
LowSlowT2 is right on point. I refinanced two houses in the past year and sold another one. Unfortunately, you have to endure the pain if you want to take advantage of the low rates. It doesn't help when the brokers and underwriters are clueless. I've already posted my experiences with the clowns that USAA uses in their mortgage department. I think broker incompetence is rampant on a wide scale. I had a broker tell me he had to deny a millionaire a small home loan because he was retired and had no "income."....
Underwriter idiocy/incompetence is widespread, not just at USAA. You can't single out USAA for this... no way.
I had an underwriter for a VA loan through People's Bank tell me that since my garage floor had cracks the VA required a whole new floor to be poured. They also told me that the VA required a termite inspection for North Dakota. I told them they were full of it but they still wouldn't listen. I even verified all this in person with the regional VA mortgage office and gave the underwriter the direct phone # and name of the VA official that I spoke to and they still insisted that both were required. I walked away...