Update to my previous review:
I locked in my (unbelievably fabulous) rate on 8/27/10 - a Friday. I was still very skeptical since others couldn't touch the rate/fees that Blufi offered. I actually waited the three days that I had to turn in all my documentation to proceed with the loan while I sought advice, wrung my hands, etc. trying to figure out if this was "too good to be true."
I decided to throw caution to the wind and go for it. That was on 9/1. Last night (just 16 days later), a notary came to my house with the final docs. From loan approval, appraisal and signing, just 16 days. Amazing.
Considering my concern about "bait and switch" I poured over the docs with a fine-toothed comb. The only change from the Good Faith Estimate was a $200 "Refundable Escrow Pad" assigned by the title company, and the estimated interest charges from the old loan were amended to reflect the true closing date.
My Mortgage Banker was Josh Massieh (yeah, I know, I looked twice at the name myself, but its really his name - I looked up his license.) I can't say enough good things about him. Though I had no issues with this painless refi, he's the reason the company is getting a five-star rating. He was very accommodating even when I called days later to inquire about the day's rate though I had already locked in (wanna confirm I really got a good deal...) :)
Loan Processer was Jen McLean. Very professional and responsive. Don't know who the underwriter was, but a shout out to that nameless soul too for giving me a thumbs-up so quickly.
At the rate I got, I can't imagine refinancing again. If I do, I'm gonna hunt down Josh, wherever he may be working, and give him my business again. In addition to this online review, I've referred many friends and colleagues.
My loan is set to fund on 9/22 or 23. Assuming no hitches, I'm looking at lowering my mortgage payment by $410/mo. SWEET! My plan is to pay the previous payment amount and actually pay off my house in 19 years, rather than 30.
P.S. They have a website and a place to "Check your loan status." A message was posted there on 8/30 and nothing since. Not very useful, though I was in regular contact to check status via email and phone, so it didn't really bother me. Just don't rely on it for updates for your loan. read more