United Mortgage Corp. Mortgage Complaint

United Mortgage Corp. Mortgage department,

FHA mortgage Application, originator, mortgage broker Florida

I started working with United Mortgage Corp out of south florida. The first phone call was great, they really are good at pulling you in! I spoke with the manager for over an hour and then i was passed off to - -. He thought he would be able to get my a conventional loan and after put the the software stated i would need to go FHA. I was original told my rate would be no more than 4.5 % max. He told me the fed came out and rates went up ( this was -/-/- ) ( rates haven risen yet, but most likely they will later today -/-/- ). Anyways my rate was now 4.875 % for conventional but since i couldnt do that he locked me in at the same rate for FHA!! i was skeptical, i called another firm and he told me that he could get my FHA at 4.25 % about a $50.00 a month in payment based on my principle. His lending fees were also over - the new guy was -. I feel that if i wasnt willing to take a risk to try the new lender ( i was already under contract ) i would have been stuck paying a much higher rate than i am now. I know it is illegal for mortgage lenders to make money off the spread but why was their rate over .5 % more? Someone padding pockets at UMC? Please use UMC in - - - if you never want to be able to reach your loan originator, and want to pay a rate way to high! Oh yeah - - also lost another mortgage of a client that was working with the same real estate broker as mine and he has the nerve to ask my realtor why he is losing business. - ITS BECAUSE PEOPLE ARE NOT IDIOTS AND ARENT GOING TO OVER PAY YOUR RIDICULOUS COMPANY