Hello Jeff Shurman, executive director of TAVMA, and all legislators regarding AMCs:
Under the law, the borrower must be provided with the loan that has the most suitable terms. (as I would hope many would do anyway) Our lowest rate programs are FHA/VA/RHS/Conventional programs. These low rate programs are sold to investors. Our EvaBank programs are not comparable in interest rate or amortization periods. So, my question is......If a borrower wants their loan to be serviced/portfolioed by EvaBank, even under less favorable terms, can they elect to do so even though they qualify for conforming lower rate loan? Some customers state they dont want their loan sold, they want to be able to walk into a local branch and deal directly with a person...
EvaBank Wholesale Mortgage