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Started By
Message
GMFS Mortgage
Posted on 7/11/25 at 10:00 pm
Posted on 7/11/25 at 10:00 pm
Has anyone used them for a new build? If so, what was your experience with them?
9
Posted on 7/11/25 at 11:18 pm to tigger4ever
I’ve used them. I didn’t have any issues, but my guy specifically told me “our rates are a lot higher, but people use us because we have a personal local connection, and our goal is to build long term relationships.”
It wasn’t even two years later when I inquired about another mortgage…and he was gone.
It wasn’t even two years later when I inquired about another mortgage…and he was gone.
Posted on 7/11/25 at 11:53 pm to tigger4ever
No issues, but it wasn't for a new build. Good experience with them.
Posted on 7/12/25 at 12:44 am to tigger4ever
Good company.
Posted on 7/12/25 at 6:56 am to tigger4ever
They sell your mortgage even though they say they don’t
Posted on 7/12/25 at 8:06 am to Craft
Well I’m going through a credit union and the loan sheet was with them. So my credit union is selling to GFPS. So you’re saying that GFPS is going to sell it to someone else? Why do they sell to other companies?
Posted on 7/12/25 at 10:06 am to tigger4ever
quote:
They sell your mortgage even though they say they don’t
They sold mine immediately.
quote:
So you’re saying that GFPS is going to sell it to someone else? Why do they sell to other companies?
Because people are paying at least an additional 1/8 point more than they would using Rocket for that perceived personalized and local experience…As soon as the ink is dry, they can get a premium by collateralizing those high credit scores mortgages for people that were willing to pay elevated rates.
Posted on 7/12/25 at 11:44 am to tigger4ever
I started with gmfs, not new build. About to be on my 4th lender in in 8 years
Posted on 7/12/25 at 12:31 pm to tigger4ever
I heard they change lives
Posted on 7/12/25 at 1:33 pm to lsuconnman
quote:
It wasn’t even two years later when I inquired about another mortgage…and he was gone.
Bob Lank? He was great to deal with and always answered the phone.
And yes, they sold my loan immediately.
This post was edited on 7/12/25 at 1:35 pm
Posted on 7/12/25 at 2:03 pm to lsuconnman
quote:
Because people are paying at least an additional 1/8 point more than they would using Rocket
Rocket is consistently higher than almost everyone else…
Posted on 7/12/25 at 3:16 pm to npt817
I find that surprising…yet, it also makes a ton of sense.
Posted on 7/12/25 at 4:55 pm to Craft
Sold my mortgage before 60 days in
Posted on 7/12/25 at 5:23 pm to Craft
LINK
I used them last September for my home purchase. They sold my loan to Freedom Mortgage. They just bought themselves back in March from the company that bought them out in 2014. I think they will start keeping more of their loans now instead of selling them. They used to keep most of their loans before they sold out.
I used them last September for my home purchase. They sold my loan to Freedom Mortgage. They just bought themselves back in March from the company that bought them out in 2014. I think they will start keeping more of their loans now instead of selling them. They used to keep most of their loans before they sold out.
This post was edited on 7/12/25 at 5:27 pm
Posted on 7/13/25 at 12:10 am to GeauxTigers1983
They sold mine to Mr. Cooper (nice name for a mortgage company) a year or so back........ now they're selling it to someone else whose name eludes me.
Whatever.
Whatever.
Posted on 7/13/25 at 7:34 am to craynagin
Very few companies keep your loan these days. I think GMFS has an all in one product now for new construction where you only have to close once. Whoever you go with, make sure it’s that so you don’t have to pay closing costs twice.
Posted on 7/13/25 at 7:46 am to Craft
quote:
They sell your mortgage even though they say they don’t
Doesn’t everyone?
Posted on 7/13/25 at 7:50 am to lsuconnman
quote:
I find that surprising…yet, it also makes a ton of sense
I love when a customer tells me they are preapproved with Rocket. Once they compare rate and fees they always switch. The problem is that Rocket does such a great job marketing that most customers never look around.
Posted on 7/13/25 at 8:25 am to npt817
It probably doesn’t help that they’re buying and consolidating everything in their path as well.
Posted on 7/13/25 at 10:00 am to tigger4ever
I used them 4 years ago, they just sold my mortgage to Carrington recently.
I will say, the loan officer I used with GMFS was extremely knowledgeable and helpful. There were some pretty confusing things about my VA loan and she knew all the ins and outs.
I will say, the loan officer I used with GMFS was extremely knowledgeable and helpful. There were some pretty confusing things about my VA loan and she knew all the ins and outs.
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