My LenderFi refinance is going well

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newbiead
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Re: My LenderFi refinance is going well

Post by newbiead »

Aesop wrote: Wed Aug 12, 2020 11:51 am My Lenderfi refinance experience...

State - California
Loan - $304,648
LTV - 59.7%
Original Loan - 4.5 years into 30 year fixed at 3.99%
Refinanced Loan - 15 year fixed at 2%
Points - $5,267 (we have zero intention of moving in the next 15+ years so paid points to get to 2%)
Closing Costs - $1,271 (appraisal waived)
Other Costs - We also paid interest for July but would have had to do that anyway and our old mortgage bank added a $196 recording fee of their own to the payoff amount. We did not open an escrow account with the new loan and have a $2405 refund coming from the old.

July 3 - Submitted Application (holiday weekend).
July 6 - Esigned Initial Disclosures.
July 8 - Esigned Rate Lock Disclosures (rate lock good through Aug. 4).
July 13 - We were informed that our underwriting was completed and just waiting for payoff information from current bank to finalize.
July 16 - Esigned Pre-Closing Disclosure.
July 23 - Received Closing Disclosure.
July 25 - Closing day: A Notary came to our house and we signed all the paperwork and submitted ACH transfer online.
July 31 - Received notification of loan funding.

Still waiting for September payment information.


My old mortgage bank is also asking for a $200 recording fee. Is there a way to get it waived off? What is it for really?
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anon_investor
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Re: My LenderFi refinance is going well

Post by anon_investor »

nearyneary wrote: Fri Aug 14, 2020 10:07 am How long is it taking people to close with LenderFi these days? I applied on 8/3 (thanks to all who posted backdoor links!), got written confirmation of lock on 8/11, homeowner's insurance notified me of change to include LenderFi on my policy 8/12. I'm worried about possible job loss in the next couple of weeks and just want to get this closed.
I applied 7/8, locked 7/9, closed 7/27, loan funded 7/31.

mesaverde wrote: Fri Aug 14, 2020 3:10 pm I refinanced with Lenderfi in February this year... 30 year fixed at 3.5%, LTV ratio of 50%.

This week I contacted Lenderfi about lowering the rate (6 months had passed). They said I could do a no cost refinance at 3% with my LTV ratio & the closing costs in my state.
I agreed and e-signed the documents. Now all that's necesary is meeting with a mobile notary to sign closing docs in 3-4 weeks.
The loan term will go from 355 months to 360, but it's still a savings because I plan on staying in the home for many years.
The new .5% Fannie Mae/Freddie Mac fee was not shown in the docs I signed.
I think the fact that you were offered 3% for a no cost 30yr refi, reflects the new .5% Fannie/Freddie fee, since only a few days ago people were reporting 2.5% to 2.75% no cost 30 year refi offers. It appears that in order to get enough lenders credits to make it no cost, LenderFi had to go up to 3%. Regardless, you should still be very happy, since you save 0.5% and cost you nothing (except effectively just extending your loan term 5 months).
calabel
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Re: My LenderFi refinance is going well

Post by calabel »

calabel wrote: Fri Aug 14, 2020 10:56 am WOW that is fast! I signed the lock on 8/4 and am still waiting to be told we're out of underwriting. They did ask for supplemental docs twice, which was annoying since it is all stuff I tried to upload initially but since there's no dashboard that shows what you've uploaded it is impossible to confirm that when you select multiple files for a given line-item that they were actually uploaded, but that likely imposed a bit of a delay.
As an update, just talked to my processor and we're now in underwriting final review.
Aesop
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Re: My LenderFi refinance is going well

Post by Aesop »

newbiead wrote: Fri Aug 14, 2020 3:22 pm My old mortgage bank is also asking for a $200 recording fee. Is there a way to get it waived off? What is it for really?
I assume for their paperwork... Because they can. I doubt there's any way around it. Most people probably never even see it. I only did because I asked for a copy of the payoff info sheet from the old bank. It wasn't individually shown on any of the closing documents, only the total payoff amount was
TanyTrojan
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Re: My LenderFi refinance is going well

Post by TanyTrojan »

TanyTrojan wrote: Thu Aug 13, 2020 4:31 pm I locked my rate yesterday @ 3.30 pm PST with LenderFI (Ryan). They said it will take 2-3 days to get LE. I don't know when the announcement was made about 0.5% fee. Do you guys think LenderFI will honor my lock rate with no closing costs? I am hoping so as they (Ryan) didn't mention anything about these fees while locking and gave me a verbal confirmation of the rate with no closing costs. Thanks!
Any thoughts on this? Anyone else in the same situation and got an update from LenderFI?
Ignis
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Re: My LenderFi refinance is going well

Post by Ignis »

TanyTrojan wrote: Fri Aug 14, 2020 6:05 pm
TanyTrojan wrote: Thu Aug 13, 2020 4:31 pm I locked my rate yesterday @ 3.30 pm PST with LenderFI (Ryan). They said it will take 2-3 days to get LE. I don't know when the announcement was made about 0.5% fee. Do you guys think LenderFI will honor my lock rate with no closing costs? I am hoping so as they (Ryan) didn't mention anything about these fees while locking and gave me a verbal confirmation of the rate with no closing costs. Thanks!
Any thoughts on this? Anyone else in the same situation and got an update from LenderFI?
I verbally locked Monday and yesterday got the locked LE. No changes to original agreement. Hopefully it will be the same for you.
teaman
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Re: My LenderFi refinance is going well

Post by teaman »

Just noticed a banner on the LenderFi homepage that they are not accepting new applications due to the large volume of pending applications :x

Any other good alternatives that y'all recommend? I've heard some not so great reviews about better.com.
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BrandonBogle
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Re: My LenderFi refinance is going well

Post by BrandonBogle »

teaman wrote: Fri Aug 14, 2020 7:46 pm Just noticed a banner on the LenderFi homepage that they are not accepting new applications due to the large volume of pending applications :x

Any other good alternatives that y'all recommend?
Searching this thread and/or the Refi Mega thread.
prettybogle
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Re: My LenderFi refinance is going well

Post by prettybogle »

I just got a letter notifying that my Lenderfi loan is sold to Wells Fargo. The letter gave my loan account number at Wells Fargo. I browsed to Wells Fargo website and tried enrolling for online access using my social and loan number. It shows the error
We couldn't process your request online. Please call us at 1-800-956-4442 for help

Anyone else had this issue ? Wondering how to get this setup working.
e5116
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Re: My LenderFi refinance is going well

Post by e5116 »

prettybogle wrote: Fri Aug 14, 2020 8:00 pm I just got a letter notifying that my Lenderfi loan is sold to Wells Fargo. The letter gave my loan account number at Wells Fargo. I browsed to Wells Fargo website and tried enrolling for online access using my social and loan number. It shows the error
We couldn't process your request online. Please call us at 1-800-956-4442 for help

Anyone else had this issue ? Wondering how to get this setup working.
Mine also got sold to Wells and kept erroring out on me when I entered the #. A few weeks after closing, the mortgage automatically appeared on my existing login (as my prior mortgage was also serviced by Wells). I assume if I didn't already have a login, it would have then taken it at that time. But I'd wait a bit longer. Then call them if you still can't get on.
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anon_investor
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Re: My LenderFi refinance is going well

Post by anon_investor »

e5116 wrote: Fri Aug 14, 2020 9:18 pm
prettybogle wrote: Fri Aug 14, 2020 8:00 pm I just got a letter notifying that my Lenderfi loan is sold to Wells Fargo. The letter gave my loan account number at Wells Fargo. I browsed to Wells Fargo website and tried enrolling for online access using my social and loan number. It shows the error
We couldn't process your request online. Please call us at 1-800-956-4442 for help

Anyone else had this issue ? Wondering how to get this setup working.
Mine also got sold to Wells and kept erroring out on me when I entered the #. A few weeks after closing, the mortgage automatically appeared on my existing login (as my prior mortgage was also serviced by Wells). I assume if I didn't already have a login, it would have then taken it at that time. But I'd wait a bit longer. Then call them if you still can't get on.
My loan was also sold to Wells Fargo, but only know because I checked the MERS online database and the loan showed up in my existing Wells Fargo login from multiple prior Wells Fargo serviced loans. I have not received any correspondence (no email or physical letter) from either LenderFi or Wells Fargo about the loan sale. My loan funded 2 weeks ago.

To add: the escrow was properly transfered to Wells Fargo

Update: I got an email from LenderFi today confirming that the loan was sold to Wells Fargo, who will also service, they also provided printable coupons to make the first payment, although I have already set up automatic payments via my Wells Fargo online account. So the post closing timeline was as follows:

7/27 - closing
7/31- loan funding
8/12 - MERS online database reflected loan now owned/serviced by Wells Fargo, loan appeared in my preexisting Wells Fargo online account, escrow not yet funded
8/14 - Wells Fargo now showing escrow as funded
8/15 - received email from LenderFi advising loan sold to Wells Fargo, who will also service, provided coupons to make first 2 payments and said I should receive a "Welcome Packet" from Wells Fargo

All in all, pretty happy with my overall LenderFi experience, if rates are lower in 6 months, I would do another no cost refi with them. Now just waiting for the servicer of my prior loan to confirm in writing that my loan has been paid off (my online account already shows a $0 balance), refund my escrow, and provide me with the lien release from my town.
Last edited by anon_investor on Sat Aug 15, 2020 4:15 pm, edited 1 time in total.
MBJ0909
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Re: My LenderFi refinance is going well

Post by MBJ0909 »

Just as another data point, I closed with LenderFi on 7/18. Got the email that my old loan was funded on 7/24 and I'd receive info by mail within 30 days. The loan was sold to Fannie Mae and LenderFi is still the servicer. I haven't gotten any further info as of yet and still not able to set up online access via the LenderFi website.
avidracer
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Re: My LenderFi refinance is going well

Post by avidracer »

Mine closed and the loan is serviced still by LenderFi. They have bought off the shelf package form some company to support the service - nothing to get excited about. But boy that website makes you want to refi immediately.
foo.c
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Re: My LenderFi refinance is going well

Post by foo.c »

foo.c wrote: Fri Aug 14, 2020 3:21 pm I applied on 7/16
Locked on 7/22 expires tomorrow 8/15

Supposedly I will be closing next week, but no appointment yet. I hope they don't jerk me around with a higher rate after my lock expires as I will walk and start over.
We'll be signing closing docs on Thursday. The rate isn't changing despite the lock expiring.

I feel pretty lucky that I got in before the GSEs imposed that 50 bps fee. Rates are also higher now in general too.
Goal33
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Re: My LenderFi refinance is going well

Post by Goal33 »

Does LenderFi let you know when you're moved to underwriting from processing if they don't need any extra documentation, or does it all happen in the backend and the next time they'll contact me is when we're ready to close?
wordsmith11
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Re: My LenderFi refinance is going well

Post by wordsmith11 »

foo.c wrote: Sun Aug 16, 2020 4:43 pm
foo.c wrote: Fri Aug 14, 2020 3:21 pm I applied on 7/16
Locked on 7/22 expires tomorrow 8/15

Supposedly I will be closing next week, but no appointment yet. I hope they don't jerk me around with a higher rate after my lock expires as I will walk and start over.
We'll be signing closing docs on Thursday. The rate isn't changing despite the lock expiring.

I feel pretty lucky that I got in before the GSEs imposed that 50 bps fee. Rates are also higher now in general too.
I also applied on 7/16. Locked on 7/24, which expires on Tuesday. Have signed pre-closing docs but still waiting on final docs and closing date/time. Sweating a bit but you give me hope. LenderFi said there are hundreds to close so they are obviously swamped.
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anon_investor
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Re: My LenderFi refinance is going well

Post by anon_investor »

Goal33 wrote: Sun Aug 16, 2020 6:59 pm Does LenderFi let you know when you're moved to underwriting from processing if they don't need any extra documentation, or does it all happen in the backend and the next time they'll contact me is when we're ready to close?
My loan processor did send me an email to tell me my app was submitted to underwriting.
Goal33
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Re: My LenderFi refinance is going well

Post by Goal33 »

anon_investor wrote: Sun Aug 16, 2020 7:07 pm
Goal33 wrote: Sun Aug 16, 2020 6:59 pm Does LenderFi let you know when you're moved to underwriting from processing if they don't need any extra documentation, or does it all happen in the backend and the next time they'll contact me is when we're ready to close?
My loan processor did send me an email to tell me my app was submitted to underwriting.
Well that makes me a bit nervous :)

I applied August 4, rate lock good til 9/2. I haven't heard that in underwriting yet.
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anon_investor
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Re: My LenderFi refinance is going well

Post by anon_investor »

Goal33 wrote: Sun Aug 16, 2020 8:13 pm
anon_investor wrote: Sun Aug 16, 2020 7:07 pm
Goal33 wrote: Sun Aug 16, 2020 6:59 pm Does LenderFi let you know when you're moved to underwriting from processing if they don't need any extra documentation, or does it all happen in the backend and the next time they'll contact me is when we're ready to close?
My loan processor did send me an email to tell me my app was submitted to underwriting.
Well that makes me a bit nervous :)

I applied August 4, rate lock good til 9/2. I haven't heard that in underwriting yet.
When did you lock? I locked on the phone on 7/9, and it was radio silence until 7/15 (I did send 2 follow up emails during that time) when I received an updated LE reflecting rate lock and was assigned a loan processor who emailed me with an update that my app was being sent to underwriting.
Goal33
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Re: My LenderFi refinance is going well

Post by Goal33 »

anon_investor wrote: Sun Aug 16, 2020 8:31 pm
Goal33 wrote: Sun Aug 16, 2020 8:13 pm
anon_investor wrote: Sun Aug 16, 2020 7:07 pm
Goal33 wrote: Sun Aug 16, 2020 6:59 pm Does LenderFi let you know when you're moved to underwriting from processing if they don't need any extra documentation, or does it all happen in the backend and the next time they'll contact me is when we're ready to close?
My loan processor did send me an email to tell me my app was submitted to underwriting.
Well that makes me a bit nervous :)

I applied August 4, rate lock good til 9/2. I haven't heard that in underwriting yet.
When did you lock? I locked on the phone on 7/9, and it was radio silence until 7/15 (I did send 2 follow up emails during that time) when I received an updated LE reflecting rate lock and was assigned a loan processor who emailed me with an update that my app was being sent to underwriting.
I was locked verbally on 8/4. Sent new LE reflecting such on 8/5. Sent to processing on 8/7. I emailed processor on 8/13 and asked if they needed anything. They said they’d let me know but no contact since.
akuseimark
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Re: My LenderFi refinance is going well

Post by akuseimark »

Goal33 wrote: Sun Aug 16, 2020 8:50 pm
anon_investor wrote: Sun Aug 16, 2020 8:31 pm
Goal33 wrote: Sun Aug 16, 2020 8:13 pm
anon_investor wrote: Sun Aug 16, 2020 7:07 pm
Goal33 wrote: Sun Aug 16, 2020 6:59 pm Does LenderFi let you know when you're moved to underwriting from processing if they don't need any extra documentation, or does it all happen in the backend and the next time they'll contact me is when we're ready to close?
My loan processor did send me an email to tell me my app was submitted to underwriting.
Well that makes me a bit nervous :)

I applied August 4, rate lock good til 9/2. I haven't heard that in underwriting yet.
When did you lock? I locked on the phone on 7/9, and it was radio silence until 7/15 (I did send 2 follow up emails during that time) when I received an updated LE reflecting rate lock and was assigned a loan processor who emailed me with an update that my app was being sent to underwriting.
I was locked verbally on 8/4. Sent new LE reflecting such on 8/5. Sent to processing on 8/7. I emailed processor on 8/13 and asked if they needed anything. They said they’d let me know but no contact since.
Lenderfi is pretty relaxed about the documents required versus other lenders. I gave them 1/2 W2’s from last year (May income onward), paystubs reflecting a temporary pay decrease and cell phone pictures of HOA insurance, none of which was questioned.

I’d think they submitted your file to underwriting and the next time you hear from them will be for more documents or with pre-closing disclosures. It might be another 10-14 days before you hear from them given how swamped they seem to be right now.
Goal33
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Re: My LenderFi refinance is going well

Post by Goal33 »

akuseimark wrote: Sun Aug 16, 2020 8:57 pm
Goal33 wrote: Sun Aug 16, 2020 8:50 pm
anon_investor wrote: Sun Aug 16, 2020 8:31 pm
Goal33 wrote: Sun Aug 16, 2020 8:13 pm
anon_investor wrote: Sun Aug 16, 2020 7:07 pm

My loan processor did send me an email to tell me my app was submitted to underwriting.
Well that makes me a bit nervous :)

I applied August 4, rate lock good til 9/2. I haven't heard that in underwriting yet.
When did you lock? I locked on the phone on 7/9, and it was radio silence until 7/15 (I did send 2 follow up emails during that time) when I received an updated LE reflecting rate lock and was assigned a loan processor who emailed me with an update that my app was being sent to underwriting.
I was locked verbally on 8/4. Sent new LE reflecting such on 8/5. Sent to processing on 8/7. I emailed processor on 8/13 and asked if they needed anything. They said they’d let me know but no contact since.
Lenderfi is pretty relaxed about the documents required versus other lenders. I gave them 1/2 W2’s from last year (May income onward), paystubs reflecting a temporary pay decrease and cell phone pictures of HOA insurance, none of which was questioned.

I’d think they submitted your file to underwriting and the next time you hear from them will be for more documents or with pre-closing disclosures. It might be another 10-14 days before you hear from them given how swamped they seem to be right now.
I feel like they need to hire me for sales. I have gotten probably 15 friends and family to start the refi with them. Now I’m regretting it because I think I swamped them!
elvistcb
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Re: My LenderFi refinance is going well

Post by elvistcb »

I don’t think LF is worth the hard pull. Ryan ghosted me. I asked four times for an an LE with a specific rate. The first LE they gave me was junk. He also sounds like a complete moron in emails and on the phone. I wouldn’t trust him with your personal info. Overall a huge disappointment after hearing how great they were supposed to be.
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anon_investor
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Re: My LenderFi refinance is going well

Post by anon_investor »

elvistcb wrote: Mon Aug 17, 2020 4:47 am I don’t think LF is worth the hard pull. Ryan ghosted me. I asked four times for an an LE with a specific rate. The first LE they gave me was junk. He also sounds like a complete moron in emails and on the phone. I wouldn’t trust him with your personal info. Overall a huge disappointment after hearing how great they were supposed to be.
What did they offer you? What rate did you ask for?
vasaver
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Re: My LenderFi refinance is going well

Post by vasaver »

elvistcb wrote: Mon Aug 17, 2020 4:47 am I don’t think LF is worth the hard pull. Ryan ghosted me. I asked four times for an an LE with a specific rate. The first LE they gave me was junk. He also sounds like a complete moron in emails and on the phone. I wouldn’t trust him with your personal info. Overall a huge disappointment after hearing how great they were supposed to be.
I have been working with Michael - and I have nothing but great things to say. Gets right back to me and has made the process seamless.
bonfireofthevanities
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Re: My LenderFi refinance is going well

Post by bonfireofthevanities »

bonfireofthevanities wrote: Thu Aug 13, 2020 11:31 am Q for anyone who has had their loan with Wells Fargo before: any idea on their criteria for removing an escrow account requirement? I found an old BH post where someone said you have to have 12 months of on time payments first. I will check with WF, but just wondering if anyone happens to know.
For anyone who cares, Wells Fargo advised that the loan must have 24-months of on time payments before a borrower can even apply for an escrow account waiver. Bummer.
bonfireofthevanities
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Re: My LenderFi refinance is going well

Post by bonfireofthevanities »

Aesop wrote: Fri Aug 14, 2020 3:40 pm
newbiead wrote: Fri Aug 14, 2020 3:22 pm My old mortgage bank is also asking for a $200 recording fee. Is there a way to get it waived off? What is it for really?
I assume for their paperwork... Because they can. I doubt there's any way around it. Most people probably never even see it. I only did because I asked for a copy of the payoff info sheet from the old bank. It wasn't individually shown on any of the closing documents, only the total payoff amount was
The local recording office charges the lender a fee to record the release of mortgage, so no way around it.
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anon_investor
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Re: My LenderFi refinance is going well

Post by anon_investor »

bonfireofthevanities wrote: Mon Aug 17, 2020 8:04 am
Aesop wrote: Fri Aug 14, 2020 3:40 pm
newbiead wrote: Fri Aug 14, 2020 3:22 pm My old mortgage bank is also asking for a $200 recording fee. Is there a way to get it waived off? What is it for really?
I assume for their paperwork... Because they can. I doubt there's any way around it. Most people probably never even see it. I only did because I asked for a copy of the payoff info sheet from the old bank. It wasn't individually shown on any of the closing documents, only the total payoff amount was
The local recording office charges the lender a fee to record the release of mortgage, so no way around it.
But I think the lender often has a surcharge on top of the government's fee. I did 2 refi's this year, and one lender charged a $60 recording fee as part of the loan payoff and the other charged a $45 recording fee as part of the loan payoff. But I agree this is something that they are not going to waive, especially as they are losing your as a borrower.
rage_phish
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Re: My LenderFi refinance is going well

Post by rage_phish »

hansp wrote: Thu Aug 13, 2020 1:27 am
TropikThunder wrote: Thu Aug 13, 2020 1:04 am
anon_investor wrote: Wed Aug 12, 2020 8:17 pm For me and others it was in the initial disclosures that came with the initial LE that had to be e-signed in order to rate lock.
I’m betting most people blew past it and signed without reading it. Maybe they were blinded by the low rate. :P
Went back and double checked and was not in the LE disclosures we signed to rate lock. Waiting on closing docs for a place in CA now.

I’m in CA and I did have it
rascott
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Re: My LenderFi refinance is going well

Post by rascott »

elvistcb wrote: Mon Aug 17, 2020 4:47 am I don’t think LF is worth the hard pull. Ryan ghosted me. I asked four times for an an LE with a specific rate. The first LE they gave me was junk. He also sounds like a complete moron in emails and on the phone. I wouldn’t trust him with your personal info. Overall a huge disappointment after hearing how great they were supposed to be.
Worked with Ryan and Brad..... they were very prompt to get back with me. Totally opposite of your experience. Honestly the easiest mortgage process I've ever had.... they wasted none of my time whatsoever.
Denver_Inv
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Re: My LenderFi refinance is going well

Post by Denver_Inv »

Current Loan 195K @ 3.75 outstanding 187K..Had refinanced early this YR at ZERO Closing costs.. Lender Credit covered Closing costs... Provident Funding.

Now am refinancing .. Had locked a month back 30 YR

190500 @ 2.99
Pts 0.65
Origination 350

B Costs - 806

D = A+ B + C = 2300 App
I = 304

J= 2600 app

Cash back about 600 USD...
Is this a good deal ? I know people got 2.6 % for 30 YR with no costs.. Prices had dropped a towards end of July more after I locked.

I will be saving 100 USD per month on my payment
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anon_investor
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Re: My LenderFi refinance is going well

Post by anon_investor »

rascott wrote: Mon Aug 17, 2020 11:31 am
elvistcb wrote: Mon Aug 17, 2020 4:47 am I don’t think LF is worth the hard pull. Ryan ghosted me. I asked four times for an an LE with a specific rate. The first LE they gave me was junk. He also sounds like a complete moron in emails and on the phone. I wouldn’t trust him with your personal info. Overall a huge disappointment after hearing how great they were supposed to be.
Worked with Ryan and Brad..... they were very prompt to get back with me. Totally opposite of your experience. Honestly the easiest mortgage process I've ever had.... they wasted none of my time whatsoever.
+1. I had a good experience. There was a little radio (about a week) silence between when I locked my rate and when I was told I was in underwriting, but they literally stopped taking new Apps the day I applied. Once I was in underwriting and was assigned a loan processor, the loan processor was very responsive (responding to all my emails in less than an hour) and the process moved along pretty quicky, less than 3 weeks from initial app to closing.
TanyTrojan
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Re: My LenderFi refinance is going well

Post by TanyTrojan »

elvistcb wrote: Mon Aug 17, 2020 4:47 am I don’t think LF is worth the hard pull. Ryan ghosted me. I asked four times for an an LE with a specific rate. The first LE they gave me was junk. He also sounds like a complete moron in emails and on the phone. I wouldn’t trust him with your personal info. Overall a huge disappointment after hearing how great they were supposed to be.
Completely opposite experience! I'd be thankful to Ryan for my whole life for giving me 2.5% with no closing costs! (Locked on 8/12)
elvistcb
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Re: My LenderFi refinance is going well

Post by elvistcb »

Wow. Interesting. I was super prompt and responded to them right away. Not sure what I could have done better. I am real organized and got them everything they asked for within minutes. I don’t want to say much more to identify myself. Glad it went well for so many of you!
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MilleniumBuc
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Re: My LenderFi refinance is going well

Post by MilleniumBuc »

elvistcb wrote: Mon Aug 17, 2020 12:28 pm Wow. Interesting. I was super prompt and responded to them right away. Not sure what I could have done better. I am real organized and got them everything they asked for within minutes. I don’t want to say much more to identify myself. Glad it went well for so many of you!
I know what you mean. I send everything to one website after the call, and then they sent me a new email to go put the same information in another website. And I did within minutes. Then after 1 am ET I get an email asking me if I forgot to input my information. After the next day they explain why the two separate websites (I still don’t understand why).

A few days later get the same email. I had to confirm again that nothing was needed. That is very confusing. I did get an email stating it was being forwarded to the loan processor within a week of locking, so that was fast. But still not sure if it goes to underwriting next or this is it.

Like someone mentioned before, they don’t do a lot of handholding, so I just resigned to wait what they tell me next. Hopefully it closes before the lock expiration date of 9/2 and I don’t have to worry about the extra 0.5% fee.
Goal33
Posts: 1590
Joined: Sun Apr 12, 2015 12:30 pm

Re: My LenderFi refinance is going well

Post by Goal33 »

MilleniumBuc wrote: Mon Aug 17, 2020 12:44 pm
elvistcb wrote: Mon Aug 17, 2020 12:28 pm Wow. Interesting. I was super prompt and responded to them right away. Not sure what I could have done better. I am real organized and got them everything they asked for within minutes. I don’t want to say much more to identify myself. Glad it went well for so many of you!
I know what you mean. I send everything to one website after the call, and then they sent me a new email to go put the same information in another website. And I did within minutes. Then after 1 am ET I get an email asking me if I forgot to input my information. After the next day they explain why the two separate websites (I still don’t understand why).

A few days later get the same email. I had to confirm again that nothing was needed. That is very confusing. I did get an email stating it was being forwarded to the loan processor within a week of locking, so that was fast. But still not sure if it goes to underwriting next or this is it.

Like someone mentioned before, they don’t do a lot of handholding, so I just resigned to wait what they tell me next. Hopefully it closes before the lock expiration date of 9/2 and I don’t have to worry about the extra 0.5% fee.
My lock is the same day expiration date. What date were you told you were in processing? I didn't hear that I was in underwriting yet either.
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MilleniumBuc
Posts: 145
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Location: Florida

Re: My LenderFi refinance is going well

Post by MilleniumBuc »

Goal33 wrote: Mon Aug 17, 2020 3:00 pm
MilleniumBuc wrote: Mon Aug 17, 2020 12:44 pm
elvistcb wrote: Mon Aug 17, 2020 12:28 pm Wow. Interesting. I was super prompt and responded to them right away. Not sure what I could have done better. I am real organized and got them everything they asked for within minutes. I don’t want to say much more to identify myself. Glad it went well for so many of you!
I know what you mean. I send everything to one website after the call, and then they sent me a new email to go put the same information in another website. And I did within minutes. Then after 1 am ET I get an email asking me if I forgot to input my information. After the next day they explain why the two separate websites (I still don’t understand why).

A few days later get the same email. I had to confirm again that nothing was needed. That is very confusing. I did get an email stating it was being forwarded to the loan processor within a week of locking, so that was fast. But still not sure if it goes to underwriting next or this is it.

Like someone mentioned before, they don’t do a lot of handholding, so I just resigned to wait what they tell me next. Hopefully it closes before the lock expiration date of 9/2 and I don’t have to worry about the extra 0.5% fee.
My lock is the same day expiration date. What date were you told you were in processing? I didn't hear that I was in underwriting yet either.
I started on 8/4 and got an email that it was moving to processing on 8/6. Next communication was on 8/13 when they informed me that Amrock had two files for me for closing and they wanted an answer of who I was closing with (lender). Now I got a call back from the other lender telling me everything is almost closed and what could they do to get me back and close by the end of the month.
akuseimark
Posts: 32
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Re: My LenderFi refinance is going well

Post by akuseimark »

Closed on my refinance last week and funding was slated for today. I didn’t receive any confirmation that funding occurred and didn’t get any responses from the lenderfi folks, so I’ll just go to bed crossing my fingers that it all went through and that I’ll wake up to see the payment on my current lender’s site. The silence is a bit concerning since I think others said they received some notification that funding happened.
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anon_investor
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Re: My LenderFi refinance is going well

Post by anon_investor »

akuseimark wrote: Mon Aug 17, 2020 9:12 pm Closed on my refinance last week and funding was slated for today. I didn’t receive any confirmation that funding occurred and didn’t get any responses from the lenderfi folks, so I’ll just go to bed crossing my fingers that it all went through and that I’ll wake up to see the payment on my current lender’s site. The silence is a bit concerning since I think others said they received some notification that funding happened.
If it makes you feel any better, when my loan funded on 7/31, I did not get an email about it from LenderFi until the end of the day (not end of the business day mind you, like I should go to bed now end of the day).
ChiKid24
Posts: 342
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Re: My LenderFi refinance is going well

Post by ChiKid24 »

akuseimark wrote: Mon Aug 17, 2020 9:12 pm Closed on my refinance last week and funding was slated for today. I didn’t receive any confirmation that funding occurred and didn’t get any responses from the lenderfi folks, so I’ll just go to bed crossing my fingers that it all went through and that I’ll wake up to see the payment on my current lender’s site. The silence is a bit concerning since I think others said they received some notification that funding happened.
Mine funded a day late. You should get an email when it happens, at least I did. You can also call or email your closer. They should be able to tell you if and when it funds.
akuseimark
Posts: 32
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Re: My LenderFi refinance is going well

Post by akuseimark »

ChiKid24 wrote: Mon Aug 17, 2020 10:14 pm
akuseimark wrote: Mon Aug 17, 2020 9:12 pm Closed on my refinance last week and funding was slated for today. I didn’t receive any confirmation that funding occurred and didn’t get any responses from the lenderfi folks, so I’ll just go to bed crossing my fingers that it all went through and that I’ll wake up to see the payment on my current lender’s site. The silence is a bit concerning since I think others said they received some notification that funding happened.
Mine funded a day late. You should get an email when it happens, at least I did. You can also call or email your closer. They should be able to tell you if and when it funds.
Thanks- It looks like I might be in the same boat. Closer isn’t responding to emails or phone calls but my loan processor brought someone else in to hopefully help figure out what’s going on. It concerns me quite a bit that there wasn’t any communication telling me that funding won’t happen when it was supposed to.
Aesop
Posts: 10
Joined: Tue Oct 24, 2017 5:19 pm

Re: My LenderFi refinance is going well

Post by Aesop »

akuseimark wrote: Tue Aug 18, 2020 10:35 am
ChiKid24 wrote: Mon Aug 17, 2020 10:14 pm
akuseimark wrote: Mon Aug 17, 2020 9:12 pm Closed on my refinance last week and funding was slated for today. I didn’t receive any confirmation that funding occurred and didn’t get any responses from the lenderfi folks, so I’ll just go to bed crossing my fingers that it all went through and that I’ll wake up to see the payment on my current lender’s site. The silence is a bit concerning since I think others said they received some notification that funding happened.
Mine funded a day late. You should get an email when it happens, at least I did. You can also call or email your closer. They should be able to tell you if and when it funds.
Thanks- It looks like I might be in the same boat. Closer isn’t responding to emails or phone calls but my loan processor brought someone else in to hopefully help figure out what’s going on. It concerns me quite a bit that there wasn’t any communication telling me that funding won’t happen when it was supposed to.
Mine also funded the day after it was set to on the closing paperwork.
akuseimark
Posts: 32
Joined: Wed Aug 05, 2020 6:58 pm

Re: My LenderFi refinance is going well

Post by akuseimark »

Aesop wrote: Tue Aug 18, 2020 11:01 am
akuseimark wrote: Tue Aug 18, 2020 10:35 am
ChiKid24 wrote: Mon Aug 17, 2020 10:14 pm
akuseimark wrote: Mon Aug 17, 2020 9:12 pm Closed on my refinance last week and funding was slated for today. I didn’t receive any confirmation that funding occurred and didn’t get any responses from the lenderfi folks, so I’ll just go to bed crossing my fingers that it all went through and that I’ll wake up to see the payment on my current lender’s site. The silence is a bit concerning since I think others said they received some notification that funding happened.
Mine funded a day late. You should get an email when it happens, at least I did. You can also call or email your closer. They should be able to tell you if and when it funds.
Thanks- It looks like I might be in the same boat. Closer isn’t responding to emails or phone calls but my loan processor brought someone else in to hopefully help figure out what’s going on. It concerns me quite a bit that there wasn’t any communication telling me that funding won’t happen when it was supposed to.
Mine also funded the day after it was set to on the closing paperwork.
They responded that it did in fact fund yesterday as planned, but I didn’t receive any confirmation of that happening (and still haven’t). My current lender shows the payment now, so all should be good! The lack of communication was tough but i’m happy that it all worked out in the end.
jjhk121
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Re: My LenderFi refinance is going well

Post by jjhk121 »

I verbally locked with my loan officer on the 12th. He sent an email requesting documents right after hanging up. I uploaded my documents that same day.

It's now been 7 days and I haven't received a locked loan estimate or rate lock disclosure to sign. Is this normal?
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MilleniumBuc
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Location: Florida

Re: My LenderFi refinance is going well

Post by MilleniumBuc »

jjhk121 wrote: Wed Aug 19, 2020 11:53 am I verbally locked with my loan officer on the 12th. He sent an email requesting documents right after hanging up. I uploaded my documents that same day.

It's now been 7 days and I haven't received a locked loan estimate or rate lock disclosure to sign. Is this normal?
Mine was the next day after hanging up on the phone and uploading the info. It shows as a Redisclosure Document on the website, which was after the Electronic Loan Document Request.
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anon_investor
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Re: My LenderFi refinance is going well

Post by anon_investor »

jjhk121 wrote: Wed Aug 19, 2020 11:53 am I verbally locked with my loan officer on the 12th. He sent an email requesting documents right after hanging up. I uploaded my documents that same day.

It's now been 7 days and I haven't received a locked loan estimate or rate lock disclosure to sign. Is this normal?
When I was did my refi in July, it took them 6 days to get the updated disclosure back to me.
jjhk121
Posts: 44
Joined: Thu Jul 23, 2020 1:09 am

Re: My LenderFi refinance is going well

Post by jjhk121 »

MilleniumBuc wrote: Wed Aug 19, 2020 12:06 pm
jjhk121 wrote: Wed Aug 19, 2020 11:53 am I verbally locked with my loan officer on the 12th. He sent an email requesting documents right after hanging up. I uploaded my documents that same day.

It's now been 7 days and I haven't received a locked loan estimate or rate lock disclosure to sign. Is this normal?
Mine was the next day after hanging up on the phone and uploading the info. It shows as a Redisclosure Document on the website, which was after the Electronic Loan Document Request.
Damn, not feeling good about the chances of my refi actually happening then. They're probably just gonna ghost me.
MBJ0909
Posts: 24
Joined: Fri Jun 23, 2017 1:09 pm

Re: My LenderFi refinance is going well

Post by MBJ0909 »

Closed on 7/18 and was just now able to set up my online account with LenderFi as the servicer. A previous poster was not kidding when they said the website was rudimentary.
xerxes101
Posts: 437
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Re: My LenderFi refinance is going well

Post by xerxes101 »

jjhk121 wrote: Wed Aug 19, 2020 12:25 pm
MilleniumBuc wrote: Wed Aug 19, 2020 12:06 pm
jjhk121 wrote: Wed Aug 19, 2020 11:53 am I verbally locked with my loan officer on the 12th. He sent an email requesting documents right after hanging up. I uploaded my documents that same day.

It's now been 7 days and I haven't received a locked loan estimate or rate lock disclosure to sign. Is this normal?
Mine was the next day after hanging up on the phone and uploading the info. It shows as a Redisclosure Document on the website, which was after the Electronic Loan Document Request.
Damn, not feeling good about the chances of my refi actually happening then. They're probably just gonna ghost me.
I get the feeling the rates at Lendefi have edged up a bit, by 1/8 or so relative to 2 weeks ago... :annoyed what do u guys think?
surfstar
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Re: My LenderFi refinance is going well

Post by surfstar »

xerxes101 wrote: Wed Aug 19, 2020 1:11 pm
jjhk121 wrote: Wed Aug 19, 2020 12:25 pm
MilleniumBuc wrote: Wed Aug 19, 2020 12:06 pm
jjhk121 wrote: Wed Aug 19, 2020 11:53 am I verbally locked with my loan officer on the 12th. He sent an email requesting documents right after hanging up. I uploaded my documents that same day.

It's now been 7 days and I haven't received a locked loan estimate or rate lock disclosure to sign. Is this normal?
Mine was the next day after hanging up on the phone and uploading the info. It shows as a Redisclosure Document on the website, which was after the Electronic Loan Document Request.
Damn, not feeling good about the chances of my refi actually happening then. They're probably just gonna ghost me.
I get the feeling the rates at Lendefi have edged up a bit, by 1/8 or so relative to 2 weeks ago... :annoyed what do u guys think?
Hah - an 1/8 would be great! If you're not locked as of 8/12, the jump is closer to 1/2
http://www.mortgagenewsdaily.com/consum ... 52069.aspx
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