Has anyone heard anything good or bad about Countrywide? Has anyone delt with them before? I'm lookin to buy a house and need some info on this company.
2007-06-12 07:11:38 · 7 answers · asked by Cowboy 1 in Business & Finance ➔ Renting & Real Estate
Countrywide is one of the largest, if not THE largest, mortgage firm in the nation. They are generally competitive with loan rates and origination fees, but feel free to shop around elsewhere as well. Recently a friend checked with Countrywide for a mortgage, and shopped around as well. Eventually, he got the best rate at his local bank's mortgage brokerage service, which oddly had Countrywide underwrite the mortgage. He saved an eighth of a point.
Countrywide is financially sound, having reported a net profit of $2.7 billion in 2006.
As far as loan servicing goes, expect the same callous disregard from Countrywide as you will get from any other nationwide lenders. None of them are overly helpful, from my experience.
If you want face to face personal servicing of your mortgage loan, you shall have to find a local bank which will HOLD the mortage in its own portfolio and service it locally. Generally these loans cost about a half percentage point more than do the nationwide sources.
2007-06-12 07:19:50 · answer #1 · answered by acermill 7 · 2⤊ 0⤋
If you Google Countrywide Home Loans, the second link is a page dedicated to complaints about their awful customer service. My mortgage broker says they're "as bad as any bank can be". I've had them for about six months with no problems, but you may want to avoid them if you can.
2007-06-12 14:18:17 · answer #2 · answered by rainfingers 4 · 0⤊ 0⤋
I have clients that I have sent to Countrywide, and all have been pleased. But each branch office is only as good as its people, and my local Countrywide office has staff that excel in customer service.
It always pays to comparison shop, but make sure you are comparing everything, not just percentage rates.
2007-06-12 16:54:11 · answer #3 · answered by godged 7 · 0⤊ 0⤋
I've had 2 mortgages with them and had good experiences......Nothing to complain about at all, and good phone customer service.
It all comes down to your gut-feeling when you speak to any financial officer / institution though. There is just too much competition between lenders to settle for poor terms or customer service. So definitely talk to several lenders before making a final decision.
2007-06-12 14:23:46 · answer #4 · answered by R.E. Advice 3 · 1⤊ 1⤋
country wide is a good lender/ bank. But they recently have had some problems with sub prime loans. lost alot of money and have alot of forclosures on their hands. they fired a lot of their staff and are in a rehire mode right now. Good luck to ya cowboy!
2007-06-12 14:16:25 · answer #5 · answered by indie 007 2 · 0⤊ 0⤋
Good lender also try Wells Fargo Home Mortgage
https://www.wfhm.com/wfhm/leo-namiot/index.page
2007-06-12 14:44:44 · answer #6 · answered by Anonymous · 0⤊ 0⤋
I have them as a mortgage company on one of my investment properties and I have not had any problems with them. Closing costs were not that bad either. I would recommend them.
2007-06-12 23:16:01 · answer #7 · answered by Brian E 1 · 0⤊ 0⤋