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expired Posted by Greenworld123 • Dec 8, 2019
expired Posted by Greenworld123 • Dec 8, 2019

Amex offer: $2,500 statement credit for home refinance Better.com

American Express Giftcards
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Must have an amex to add offer to your account. Details:

Unlock even more as an
American Express® Card Member with an exclusive mortgage offer from Better.com
Better.com is making the homebuying and refinance experiences more rewarding, with a $2,500 statement credit and more, exclusively for eligible Card Members. See offer terms below.

https://www.americanexpress.com/u...-OfferHub2

EDIT information from Better.com!!!!!!!!!!!!!!!!!!!!!!!!!
Hello,
I work with Better,com and wanted to see if you could please add in the following information to your post on Amex/Better,com deal as it reads incorrect as it stands, especially regarding eligibility. We want to make sure the offer is stated as accurately as possible:
1) Mortgage rates of any specific customer, stated or otherwise, should not be taken as indicative of a mortgage rate available to all customers. Pricing is based on a number of factors, including the individual credit profile of a potential borrower.
2) The offer is only available to those borrowers who have been marketed to directly by American Express, and those who have not received the offer on their Amex portal or via email are not eligible.
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About the Poster
Deal Details
Community Notes
About the Poster
Must have an amex to add offer to your account. Details:

Unlock even more as an
American Express® Card Member with an exclusive mortgage offer from Better.com
Better.com is making the homebuying and refinance experiences more rewarding, with a $2,500 statement credit and more, exclusively for eligible Card Members. See offer terms below.

https://www.americanexpress.com/u...-OfferHub2

EDIT information from Better.com!!!!!!!!!!!!!!!!!!!!!!!!!
Hello,
I work with Better,com and wanted to see if you could please add in the following information to your post on Amex/Better,com deal as it reads incorrect as it stands, especially regarding eligibility. We want to make sure the offer is stated as accurately as possible:
1) Mortgage rates of any specific customer, stated or otherwise, should not be taken as indicative of a mortgage rate available to all customers. Pricing is based on a number of factors, including the individual credit profile of a potential borrower.
2) The offer is only available to those borrowers who have been marketed to directly by American Express, and those who have not received the offer on their Amex portal or via email are not eligible.

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9,848 Comments

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Mar 17, 2020
2,021 Posts
Joined Feb 2008
Mar 17, 2020
stm69
Mar 17, 2020
2,021 Posts
This is an interesting quote from http://www.mortgagenewsdaily.com/...rices.aspx

As a side note, I'm seeing some lenders test the water via quick Zillow searches back at 30 year 3.25 range.

Quote :
Wholesalers, correspondent investors, and the Agencies are keeping an eye on prepayment speeds and churning, especially if a broker or lender makes money on the same borrower twice in a certain period, like 6 or 12 months. Is it an example of a handful of brokers or MLOs impacting the prepayment speeds, and reputation, of everyone? Possibly.

Some are taking action. For example, United Wholesale, who is right on top of its data, noticed a small number of brokers who had prepayment speeds 3x-5x the rest of its broker base. Allen Beydoun, EVP, UWM Sales, informed this group that they will be held to a temporary 12-month Early Payoff Provision. UWM feels that this small group of brokers is hurting the prepayment speed story for all brokers, and decided to take a stand against it. I am sure that others will follow suit. UWM will reevaluate this group of brokers in a few months to see if they are more in line with the cohort. And to the best of my knowledge UWM didn't cut anyone off, nor worsen their pricing.

"Your account has been flagged for participating in refinancing practices that are having a negative impact on the entire wholesale market. As such, UWM will be implementing a 12-month EPO policy for all loans closed in your name from March 12, 2019, forward. From March 12, 2019, forward, all loans refinanced by you within 12 months of the funding date will require a full EPO. EPO will be required whether you refinance through UWM or not. UWM will reevaluate your refinance speeds on August 1, 2020, and January 1, 2021, and consider removing or revising this policy. Please understand that we must do what we feel is best for consumers and the mortgage industry as a whole." Makes sense to me.
Mar 17, 2020
2,582 Posts
Joined Feb 2008
Mar 17, 2020
LeaninBack916
Mar 17, 2020
2,582 Posts
Not sure if anyone else experienced this recently but I sent a wire yesterday to the title company to close out my cash to close. I did it "before" the cut off time for same day (about 2.5 hours before the 11am PST/2pm EST cutoff. The backend processing folks didn't do it the same day. I called multiple times and was told they were busy but would handle it and verified the wire and the purpose. Since it's a refinance, it's not that big of a deal BUT they did the wire today and not the same day as yesterday. (This is the credit union DCU). I asked and they said lots of their staff were not available and blamed COVID-19 for the "unusual delay".

Just a heads up to stay on these folks to perform their job functions even during a time like this. We all know things are harder right now... I'm stretched thin at work as it is also. Again, my refi is not that big... but I still remember wiring funds to buy my house (which was a short sale) and if it didnt go same day I would have lost the deal due to strict timelines imposed by the bank's turnaround requirements.

I figure there is no real recourse for most folks now if they experience a freak delay but just wanted to throw out the PSA on it if anyone is wiring to close. I have no intent to sue (not what im angling at) BUT I just wanted to warn others who are going through their process right now and would be angry enough to go that route.
Last edited by LeaninBack916 March 17, 2020 at 03:50 PM.
Mar 17, 2020
2,021 Posts
Joined Feb 2008
Mar 17, 2020
stm69
Mar 17, 2020
2,021 Posts
My loan was assigned a closing officer today, added a few additional questions. Don't think they intend to service the loan, one of the additional questions was "Do you intend to work at your current job for at least one more month?"

And my current mortgage provider charges $30 a payoff quote. Since I made a payment not knowing if this loan would close, we will need another. My better.com processor said they would pick this one up - nice service!
Mar 18, 2020
633 Posts
Joined Feb 2007
Mar 18, 2020
techoin
Mar 18, 2020
633 Posts
funded on 2/21. still waiting on credit.
Mar 18, 2020
138 Posts
Joined Sep 2009
Mar 18, 2020
rwerns21
Mar 18, 2020
138 Posts
Quote from techoin :
funded on 2/21. still waiting on credit.
2/24 for me. No credit. Has your loan been sold? Mine was about a week ago.
Mar 18, 2020
633 Posts
Joined Feb 2007
Mar 18, 2020
techoin
Mar 18, 2020
633 Posts
Quote from rwerns21 :
2/24 for me. No credit. Has your loan been sold? Mine was about a week ago.
Yes to US bank
Mar 18, 2020
2,582 Posts
Joined Feb 2008
Mar 18, 2020
LeaninBack916
Mar 18, 2020
2,582 Posts
Quote from techoin :
Yes to US bank
Im hoping mine gets sold to them. It would unlock some benefits with my current checking/credit card existing relationship. Was yours a 15 or 30 year and what rate? Most of the 15 year ones Ive seen referenced were sold to Mr. Cooper.

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Mar 18, 2020
22 Posts
Joined Aug 2014
Mar 18, 2020
ryan.wernsman
Mar 18, 2020
22 Posts
Quote from LeaninBack916 :
Im hoping mine gets sold to them. It would unlock some benefits with my current checking/credit card existing relationship. Was yours a 15 or 30 year and what rate? Most of the 15 year ones Ive seen referenced were sold to Mr. Cooper.
I was hoping for Chase for the same reason! Mine went to Mr. Cooper and was a 30 year funded 2/24 at a 3.5% rate.
Mar 18, 2020
633 Posts
Joined Feb 2007
Mar 18, 2020
techoin
Mar 18, 2020
633 Posts
Quote from LeaninBack916 :
Im hoping mine gets sold to them. It would unlock some benefits with my current checking/credit card existing relationship. Was yours a 15 or 30 year and what rate? Most of the 15 year ones Ive seen referenced were sold to Mr. Cooper.
mine is 20 years
Mar 18, 2020
2,582 Posts
Joined Feb 2008
Mar 18, 2020
LeaninBack916
Mar 18, 2020
2,582 Posts
Quote from ryan.wernsman :
I was hoping for Chase for the same reason! Mine went to Mr. Cooper and was a 30 year funded 2/24 at a 3.5% rate.
Yeah they always told me a slew of benefits if i got a mortgage with them (I have a high end checking and long term CC) but their rates were so awful (in addition to the fees) I would never have used them.

Well I'll hope it is... Im assuming Mr. Cooper but hey one can get lucky.
Mar 18, 2020
2,582 Posts
Joined Feb 2008
Mar 18, 2020
LeaninBack916
Mar 18, 2020
2,582 Posts
Quote from techoin :
mine is 20 years
with escrow or without?
Mar 18, 2020
633 Posts
Joined Feb 2007
Mar 18, 2020
techoin
Mar 18, 2020
633 Posts
Quote from LeaninBack916 :
with escrow or without?
with escrow. what benefits do they offer with checking/credit card if you have existing relationship. I have couple of credit cards with them.
Mar 18, 2020
2,582 Posts
Joined Feb 2008
Mar 18, 2020
LeaninBack916
Mar 18, 2020
2,582 Posts
Quote from techoin :
with escrow
Ok good data point. Mine is without except for the federally mandated flood insurance escrow. Homeowners and property will be handled by me. A random guess but i would assume most major banks would prefer a full escrow now that i think about it. Could be wrong but i would figure they want all the control.
Mar 18, 2020
46 Posts
Joined Nov 2006
Mar 18, 2020
Waddlepuss
Mar 18, 2020
46 Posts
Quote from stm69 :
My loan was assigned a closing officer today, added a few additional questions. Don't think they intend to service the loan, one of the additional questions was "Do you intend to work at your current job for at least one more month?"

I was asked same thing and mine hasn't been sold yet but just funded on 3/2. I've not gotten my statement credit yet either..

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Mar 18, 2020
25 Posts
Joined Oct 2016
Mar 18, 2020
Rat1301
Mar 18, 2020
25 Posts
I was also hoping for Chase for the same reasons. Here is my timeline:

30 year @ 3.375% funded on 2/26
Servicing transferred to Mr. Cooper on 3/10
No credit thus far

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