Just met with Bethpage FCU - really disappointed

I'm shopping around for a loan and have already talked to Chase, HSBC, and Continental (brokers). Everyone's telling me to try the credit unions because the rates are lower, closing costs are lower, service is better, yadda yadda. So I made an appointment to speak to a guy at Bethpage today.

I was there for 44 minutes before he showed up (I know exactly because I told myself that at the 45 minute mark, I was leaving). He apologized and told me he was helping out someone else, who had a mortgage application with Bethpage but whose loan officer was fired 3 weeks ago and she was never told, so everything is backed up 3 weeks with her application. Um... nice apology, but it doesn't really instill me with confidence about your institution. Then he said that he couldn't call me to tell me he'd be late because his cell phone died. 5 minutes into our meeting, his cell phone rang. It rang again 3 more times while I was there. We were in the middle of the branch, not in an office or anything, and he starts asking me for my address and SS#. With customers waiting in line like 3 feet from us! Really unprofessional. And 2 minutes later, he was like - "oh look at this, you have a balance of $1 on a credit card!" I asked him how he knew, and did he run my credit? He told me he did but HE NEVER ASKED IF HE COULD. I have a printout of my credit report from 4 weeks ago that I was prepared to show him (for a simple pre-approval). How could someone run your credit without even asking you if it's okay? I don't want too many inquiries in my file, especially because other banks looked about a month ago.

And in the end - he offered me the same exact rate as the other banks, with fees and closing costs at about $1000 less. I'm sorry, I'll pay $1000 to not have Bethpage responsible for my mortgage.

Is this typical? I was looking forward to hearing what they had to say, but the whole operation seemed so low-budget and disorganized.

Re: Just met with Bethpage FCU - really disappointed

i had a similar situation with teachers federal. they were soooo not mortgage people. it was like they had a checklist of stuff that they wanted / needed. then they hang up the phone, call me right back as for more info.

then proceed to tell me that they can't qualify me. i think the dingbat was including my other mortgage (the house i SOLD) in on our debt.
it made no sense. we make enough (not alot) to qualify for much more than the mortgage we were looking for!

i feel your pain.

this is why i went straight to the broker. who i might add has completed my mortgage in 30 days . . . my stuff is in underwriting now. from october 20th to now... and now the sellers atty tells me another two f'n months!!!!

Re: Just met with Bethpage FCU - really disappointed

I am in touch with a broker too, from Continental. I'm just worried that if Continental is offering me 4.875 and Chase is offering me 4.875, I pay more for the loan from Continental because they're a broker and not a bank. Is this true?

Re: Just met with Bethpage FCU - really disappointed

Re: Just met with Bethpage FCU - really disappointed

if someone could tell me what their fees are called, i could look on my GFE. i say this because Continental is a loan company as far as i know. they originate a loan (give you the $$). so... to be honest, i don't think i am paying anything extra to them.

i can't say for sure until someone could tell me what the "fees" are called ...

Re: Just met with Bethpage FCU - really disappointed

I had a terrible experience with Bethpage too. I finally just signed the paperwork with Continental.

Re: Just met with Bethpage FCU - really disappointed

I would complain to the manager. They can't run your credit without asking you, that's a major violation of bank policy, he could get fired.

Re: Just met with Bethpage FCU - really disappointed

I am a Realtor and can honestly say that there are deffinately some loan officers that are better than others. I can give you the name of a great one at Continental and one at Wells Fargo. Let me know if you would like their names, they are both great!

I will tell you the loan process can be very frustrating and you may have to hand in the same documents more than once. Be sure to make copies of EVERYTHING, and try to stay patient. The underwriting and restrictions these days really make things rough at times.
The end result will be worth it and you will be getting a rate that is unbelievable. This time next year the rates will be much higher, so keep that in mind when you have had enough of the whold process.

Good Luck and let me know if you would like names and numbers

Message edited 11/18/2009 10:14:46 PM.

Re: Just met with Bethpage FCU - really disappointed

call astoira federal and ask for Nick Litorellos pone #. he will meet you at one of the branches and sit down with you and fill out everything with you.



we use him for our mortgage and are using him now for our refinance. He always gets back to you and quickly and is easy to work with.

Re: Just met with Bethpage FCU - really disappointed

I used Bethpage three times for mortgages and had no problems whatsoever - very professional, no mistakes, quick and easy. I haven't taken out a mortgage since the recession though and I don't know if that affects anything.

Re: Just met with Bethpage FCU - really disappointed

We've done two mortgages with Suffolk FCU, and have never had a problem. Very professional, great service, lowest rates around, etc, etc. I wouldn't even think about going anywhere else if I needed to do another mortgage.

I think like most industries, it depends more on the individual rather than the institution.

Re: Just met with Bethpage FCU - really disappointed

I'm really sorry to hear about your bad experience with BFCU. I have received nothing but the best of service from them for 10 years. All my car loans and mortgages have been with them and I always got the best rate and even got money back at closing!

Re: Just met with Bethpage FCU - really disappointed

we used preferred empire mortgage broker- we were so happy with them- they had access to 1000s of programs and found one that met our needs- well all brokers have this- but anyway- they ran our credit once and were able to find us the best rate for our situation- I think it cost us about $300 extra at closing- but they saved us way more than that in aggravation- they really worked hand in hand with our lawyer

I agree with pp- definately call the branch manager and complain about how you were treated that is not professional at all- and I thought by law you had to sign something stating that they could run your credit

Re: Just met with Bethpage FCU - really disappointed

Re: Just met with Bethpage FCU - really disappointed

I was concerned when banks were running my credit for rates, but it is ok. When you are shopping for a mortgage, it does not affect your credit at all. I made sure.

Re: Just met with Bethpage FCU - really disappointed

Re: Just met with Bethpage FCU - really disappointed

I used BFCU and have been really happy with them. Sorry you had such a crappy experience.

Re: Just met with Bethpage FCU - really disappointed

We just started the refinancing process with BFCU and hope it will go well. We have used them for car loans, cc's and banking for over 20 yrs. and have had no real problems.
Sorry to hear about what you went through :(

Re: Just met with Bethpage FCU - really disappointed

what branch was it? if you don't mind me asking...

Re: Just met with Bethpage FCU - really disappointed

It was someone who works out of the main branch in Bethpage. I can't believe that I didn't just turn around and leave when the guy was 45 minutes late and his excuse was that his company had f'ed up someone else's mortgage application so badly, he was on the phone with her for an hour trying to fix it. Great way to try to get my business.

Re: Just met with Bethpage FCU - really disappointed

I'm using them and I have had no problems yet. I think you were dealing with a very unprofessional loan officer. Can I ask who you were using?

Re: Just met with Bethpage FCU - really disappointed

I have had my mortgage with them for over 5 years (2 different houses and then a refinance)

The first time in 2004 we had nothing but issues, really we could just never get a hold of someone to give us updates answer questions etc. But it was the height of the market and they were swamped. Overall I can say that my closing costs were lower than some friends who bought similarly priced homes but went with "banks"

Second time was end of 2006, had an amazing experience. Everyone was great. Again, felt my closing costs were more than fair.

Refi in 2009...was annoyed to have to do ALL that paperwork all over just to lower my rate but can't complain. Will say the Good Faith Est for Closing was WAY Off.

And I have never had any issues with them holding my loan. I would totally recommend them.

Sorry you had a bad experience.