From The Inbox: “Is Quicken (Rock Financial) A Reputable Lender?”

Posted by Justin McHood on August 24th, 2008

As our blog continues to grow, we are getting more questions each week — all good questions and it is fun to meet so many new people who are in so many different financial situations.

Tammy and I were talking and we thought that it would be fun to take a question that seemed like it may apply to more than just one person and write our view of “the answer”.

This question came from Michelle:

“Is Quicken (Rock Financial) a reputable lender?”

My Answer:

Michelle, first let me say that it would be unwise for us to say anything about a particular lender, not because we are worried about what they “will do to us” if we “said bad things” but because in our experience, there really isn’t such a thing as a “good” or “bad” lender, only good and bad loan officers.

Due to the sheer number of people who work at any given lender, it has been my experience that there are reputable and good people at almost every organization that I have come in contact with.  There are also not-so-reputable-and-good people at these same places!

So, as mentioned on RealPhoenixLiving this week, you really want to focus on finding a good loan officer that has a network of people who can verify that the loan officer gives great service at a fair price.  Look for more in the coming weeks on “how to find a good loan officer coming soon to RealPhoenixLiving” as we continue our series there.

That said.

As I worked with Michelle and learned more about her situation, it became clear that many people who are currently shopping for a mortgage aren’t aware of how to calculate what is a good deal and what means that they are getting ripped off.

So if you are a consumer, how exactly do you tell if you are getting a good deal or getting ripped off by your loan officer?  Be sure to check back tomorrow!



August 24, 2008 | Filed Under The Business of Mortgages 

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