Cap West Mortgage / Estimate of closing cost fraud
Beware of Cap West Mortgage even though they are connected to Costco. Asked for a quote for a refin. of my rental house which I own 65% and received what seemed to be a great quote, fair rate, but low fees. Then asked, 2 times, for the legal GFE (good faith estimate) and found the closing costs were 2 1/2 times higher than there first quote. When asked WHY, then said that the first quote of of JUST THEIR FEES and not of any of the common title/gov fees. As it turned out they were 40% higher than the local banks. The first quote was off by over $100 neg on the apprasial. Cap West is low balling their quotes to LURE customers. Way to COSTCO.. You and your affiliate should be ashamed to continue predatory lender practices in America after what has happened in the last 3 years.