Trilogy Mortgage / lied to get business,then switched
I spoke to Ed Mueller and he asked me what my best quote was. I told him Wells Fargo and what the rate would be and what the total cost would be. He quoted me a lower rate and much lower cost. 6%, and $2219 in closing costs.I was going to do 2 loans with him, my residence, and a rental. I had spoken to about 6 other mortgage brokers that warned me that this guy was not going to come through with what he promised . He sent a truth in lending disclosure packet that had a 6.5% . with closing costs of $6300. From INDYMAC bank. I asked him about it and he said the costs stated are just standard but the documents will have the real costs. A few weeks later a Notary was sent to my house with the docs to sign, still with the higher interest rate and closing costs. I did not sign. I called Ed and he said that ther lender changed the terms a little...I asked him why their was a $595 processing fee due Trilogy, and a $396 funding fee also due to Trilogy. He said that he must have forgot to put those items on the good faith estimate he had sent to me. I questioned why he would forget a charge from his own company. He "forgot" I spoke to his Broker-Michael Mueller, a cousin he says, and he said he could do nothing about it. He said they could not lock in the rate for 12 days, and by the time they did, rates went up. I canceled my loans with Trilogy. This company did exactly what other motgage professionals told me they were doing, lowballing me and then changing the terms at signing. I would bet that INDYMAC bank never made a loan during the month of may,07 at 6% with $2200 in costs.I learned a lot from these scammers at Trilogy Mortgage. Don't be a dumb ### like me, Record your phone calls ,with their permission, get good faith estimate, AND something in writing that states the lock rate info. I ended up working with Ed John of Atlantic financial in Thousand oaks,Ca. He came through with what he promised. !