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Regions Mortgage
Posted on 11/16/16 at 9:14 pm
Posted on 11/16/16 at 9:14 pm
Does anyone here have a mortgage with Regions Bank? My mortgage lady who I am loyal to left the mortgage company she worked for and went to Regions Bank doing the same thing. I have a good friendship with her but before I use her for my mortgage on my next house after mine sells, does anyone have any bad experiences with Regions Mortgage? I know she will take care of me but not sure about the rest.
4
Posted on 11/16/16 at 9:46 pm to GeauxTigers1983
I do. They have been fine. I have zero complaints.
Posted on 11/16/16 at 9:52 pm to tom
Thank you
Posted on 11/16/16 at 10:27 pm to GeauxTigers1983
Regions has had my mortgage for 7 or 8 years. No issues with them. Customer service has actually been good any time ive had to contact them.
Posted on 11/16/16 at 10:40 pm to Chris4x4gill2
Good. Makes me feel better. I like that they don't sell their loans.
Posted on 11/17/16 at 9:13 am to GeauxTigers1983
Have them, no complaints.
Posted on 11/17/16 at 9:41 am to GeauxTigers1983
Lynn Haney at Regions in Baton Rouge handles my mortgage. She is top notch and can handle a mortgage anywhere in the country.
LINK
LINK
This post was edited on 11/17/16 at 9:42 am
Posted on 11/17/16 at 10:09 am to GeauxTigers1983
quote:
Good. Makes me feel better. I like that they don't sell their loans.
None of them? This would really surprise me. I'm not in the business, but just in my experience the big banks don't keep them all. All I'm saying is I wouldn't use Regions for that specific reason unless you know it is 100% true.
Posted on 11/17/16 at 5:16 pm to baldona
If you like saving money shop rates. Don't just say "they treat me well so i stayed with them" Some charge an origination fee some don't.
Just closed on my new home loan. 30 years 3.375 and no origination charge.
Just closed on my new home loan. 30 years 3.375 and no origination charge.
Posted on 11/18/16 at 6:41 am to baldona
I was told they keep them. At least in the beginning.
Posted on 11/18/16 at 6:59 am to GeauxTigers1983
quote:
I was told they keep them. At least in the beginning.
Good deal. Again I'm not in the industry I just own some rental properties and have a couple mortgages, but I'd say they most likely don't keep 100% of their mortgages all the time. They may keep a lot of them, but it usually depends on their business goal at the time, what they are selling for, what their portfolio looks like, what kind of mortagage you have, etc.
All I'm saying, is that I wouldn't plan 100% on them keeping your mortgage as the primary reason to go with them.
This post was edited on 11/18/16 at 7:00 am
Posted on 11/18/16 at 7:42 am to GeauxTigers1983
They most likely sell the paper but retain the servicing.
Posted on 11/18/16 at 11:03 am to baldona
Regions has the servicing capabilities to likely maintain them.
If anything, they are likely buying more servicing rights
If anything, they are likely buying more servicing rights
Posted on 11/18/16 at 1:01 pm to basiletiger
quote:
f you like saving money shop rates. Don't just say "they treat me well so i stayed with them" Some charge an origination fee some don't.
Just closed on my new home loan. 30 years 3.375 and no origination charge
I'm waiting to get some numbers from Regions now. Was told they will cover closing fees etc... wait to get a rate but I'll update when I do. Should be today.
This post was edited on 11/18/16 at 1:02 pm
Posted on 11/21/16 at 5:47 am to baldona
Not to derail this thread but why does a lender sell a mortgage?
I refinanced a property for a tiny amount. It is my only debt of any kind (everything paid off) and it's less than I make in a year.
I have never missed a payment and have no issues on my credit score and never have.
It's guaranteed money. Why would they not want to keep the loan?
I refinanced a property for a tiny amount. It is my only debt of any kind (everything paid off) and it's less than I make in a year.
I have never missed a payment and have no issues on my credit score and never have.
It's guaranteed money. Why would they not want to keep the loan?
Posted on 11/21/16 at 9:38 am to SECdragonmaster
Would you rather have an annuity with a 3.5% return or the cash up front for other investing?
Posted on 11/21/16 at 11:38 am to basiletiger
quote:
ortgage If you like saving money shop rates. Don't just say "they treat me well so i stayed with them" Some charge an origination fee some don't. Just closed on my new home loan. 30 years 3.375 and no origination charg
Bingo. Your "friend" can pull everyone's rate sheet and go to her boss to match whoever is floating a better number that day. They do it all the time.
Posted on 11/21/16 at 1:08 pm to GeauxTigers1983
I took out my fourth mortgage with Regions earlier this year. Great rate (2.875%) and service. However, the whole mortgage process is unbearable now. We maintain 800+ credit and I put down 50% on this new deal and it took over 6 weeks to close the deal.
Posted on 11/24/16 at 6:14 pm to SECdragonmaster
Some banks specialize in selling loans. They hold them for so long and then sell so many at a time to free up money to give new loans
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