I mostly lurk on the MF boards and usually only post when I have a question. I'm posting now just to tell you about my personal experience working with Catherine Coy as my mortgage broker. Last November, I was given the opportunity to purchase my first home because the apartment complex I lived in for nearly 8 years is to be torn down so that luxury condos can be built. This was in Venice, CA. I LOVE Venice but I can't afford to buy there. The relocation company representing the owners offered me a sum of money above the norm, if I were to move out voluntarily (this also included the return of my security deposit + interest and my last 30 days rent would also be repaid to me). This money was to be given to me in two lumps. I would receive half 5 days after giving notice to move and the other half within 20 days after I moving out. I had to be out no later than May 1st of this year. This sum of money, though tidy, was not enough for a down payment or even full closing costs. I contacted Catherine for help. I'd read her posts over the past couple of years and was impressed by the information she provided. I told her my story and asked her if she could help me get a loan. Of course she said "yes". From that moment on, I felt like I was her number one client. Here is my experience. - She always answered my phone calls on the first or second ring. - She answered my emails usually within in moments of me sending them to her. On one occasion, I was so stressed out that I couldn't sleep and around 4 am I sent her an email asking a question (we are in the same time zone). I then went to bed for a bit. I got up again at about 6 am and she had responded to my question. (I'm guessing she was up early dealing with her east coast clients). - She interceded with the relocation company and got them to release more of the money to me before the contracted time so that I could meet a certain loan requirement. - Several times she happily did 3-way calls with me and my brother, me and my real estate agent or whomever I needed her to explain things to. - Whenever I would get frustrated, she was always there with words of encouragement. - I am in a niche market work wise, which most lenders do not understand. I'm not self-employed but neither am I an employee of one particular company. Catherine would write letters on my behalf to the lenders to explain my situation and helped them to understand that I would not be a risky customer. - Once I found and placed a bid on a condo, using an 80/20 loan, interest rates started to rise. The 80% of the loan was fixed but not the 20% and the rising rates were going to make things too tight for my comfort. I talked to Catherine about and we literally spent one whole day back and forth on the phone. She found several alternate lender packages for me. She would explain each one to me and we found one that was a better deal that the original. - At the 11th hour the new improved lender was still dragging its feet about funding my loan. The sellers were so frustrated that they were about to cancel the deal. Catherine got on the phone with the seller's agent and took the blame for delay (which was NOT her fault) and got them to hold on a bit longer. The loan was funded the next day (April 8).So, a lot of the tenacity you are seeing in her makes her great when it comes time to fight on your behalf.I'm not trying to hop in on the discord bandwagon on one side or the other. I just wanted you all to hear from a happy customer.Peace out!
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