No. of Recommendations: 3
Why wouldn't Amerisave want to give you that rate? They're not the investor behind the rate. Amerisave couldn't care less about what rate you get. They're going to sell the loan within days of funding it. They bought the sack of money for $X and they're going to sell it to Fannie Mae or Freddie Mac for $Y. Sorry to say, a complete misunderstanding of the market for mortgage bonds is behind your angst. This article may help you understand.

Unless, of course, Amerisave ran out of money in that sack and wouldn't admit to it. Estimating application yields is not an exact science, so what do they do when they overcommit?
Print the post  


Useful Resources
Our Home Center has all you need to make buying and owning a home a great experience. Get or refinance a mortgage and much more!
Buying/Selling a Home FAQ

Mortgage Professor
Offsite resource for mortgage questions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.