ATLANTA, GEORGIA -- I have excellent credit and work for the #2 company in the world. Eric quoted me a 2.3% 10-year term on a good faith estimate. He drug the process out until the ending day of the GFE expired. I knew the value of my home would appraise for the estimated value I put in the application, and I was spot on. They try to undervalue your home, forcing you into a larger interest rate and causing you to pay PMI every month. I told him I did not want to pay for an appraisal unless he guaranteed that he could follow through on his end. He said "Sir I'm waiting on you, I can close with everything I quoted you."
He WOULD NOT return any phone calls. He knew I was beyond qualified for this loan and he COULD NOT keep his end of the agreement because he lied. That's why he wouldn't return my calls or emails. This company simply lies to get you in the door, then you pay the $500 appraisal fee and BAM they tell you, you only qualify for higher interest loan. SORRY! On the day of the closing the paperwork told a different story than Eric. Interest rate showed 3.7%, not the 2.3% he promised and the payment was $201.73 MORE than the GFE! Please DO NOT use LSI!! You'll be glad you didn't. :)
Please beware of LSI Mortgage. A representative from this company left me a voice mail message claiming he was a consumer advocate. He stated that my mortgage was a predator mortgage and the company had filed for bankruptcy. He stated he had to discuss the implications with me. I immediately contacted my mortgage company and found this was totally untrue. When I spoke with the representative, he was referring to a mortgage I no longer had. When I informed him of this, he became argumentative. This is nothing more than a company trying to take advantage of the country's current economic problems.