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Real Estate
Reply to "Any experience with Navy Federal Mortgages?"
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[quote=Anonymous]We have used Navy Federal Credit Union for multiple mortgages. The last two mortgages in the Maryland area, one purchase in 2009, and one very recent refinance were disasters due to loan processors that took forever to act or respond. Example on the refinance: We don't hear from our processor for days and she calls on a Thursday and says "we need to close on your loan because the terms expire the following Tuesday". So she asks "do we want to close on Friday" and I asked "tomorrow"? "Oh" she says then we will need to do it on Monday. Do they not look at a calendar? So because she took forever processing our loan my husband had to miss a long scheduled meeting so we could close on Monday. The 2009 loan would have never taken place if the CEO of NFCU had not intervened on our behalf. The loan department went from being rude and belligerent to so very polite once they found out we knew the CEO. Having said this just a few months ago we had a great experience with a NCFU loan processor in California for a new purchase . She was efficient, polite, knowledgeable, and kept up a constant stream of communication with everyone involved. As far a servicing the loans we have not had any issues in the 20 years we have had mortgages. I do wish they would be more forthcoming on their mortgage web site. Pentagon Federal puts all their loan disclosures right on the loan information page. [/quote]
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