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?
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