Asset Mutual Mortgage

If I could give less of a one star I would. they are very difficult to work with. Don’t be surprise if you get a pre-​approval but somewhere in the process you have to start over with another broker. I wish I didn’t deal with this mortgage broker.

I discovered asset mutual mortgage on the Zillow website mortgage rate search page. Because Asset Mutual was the most competitive option available, I contacted them. This was after calling every local bank I could find and discovering that they all had higher rates and moderate customer service. When I called, Adam answered the phone and was immediately very helpful. He asked for some background information and when he found out I had a contract on a house, he jumped into action. I’m not sure if he had anything else going on at the time but if so, he must have dropped everything and treated me as his #1 priority. He stayed on the phone with me for 30 – 45 minutes, getting information, explaining the process, explaining how to compare different loan offers so I could make sure I was getting the best deal, and finally sending me a to-​do list of everything he needed. Through asset mutual, I got the best rate available on the market. I got to work on the list, and every time I sent him an email it was acknowledged with a rapid email response. He was very diligent about making sure I met the required timelines to turn in information so that my loan could be processed, checking up on me from time to time to check status. Everything went smoothly up to and including the closing, and I’m now a happy homeowner. For those wondering, Asset Mutual is in the business of originating loans but not servicing them. Servicing of the mortgage was transferred immediately to another company. This is very typical of the industry, and many banks end up doing the exact same thing. If I had a chance to do it all over again, I probably still would have done the same amount of research and at the end I certainly would still have chosen asset mutual.

Adam could not have been more helpful. He guided me through the loan application process with a great deal of patience, and was armed with an incredible amount of knowledge. He is efficient and organized. That efficiency and quick response time allowed me to lock in a great interest rate just as rates began to climb steadily. (I can’t say the same for other mortgage «professionals.» One company actually sent me someone else’s documents. That poor sap lucked out because it just so happens that my primary source of income IS NOT identity theft. Another broker requested the same document THREE times.) Adam was honest and candid, but could sense my anxiety as a first time home buyer and always reminded me not to panic. You won’t find a better company to guide you through this process. Asset Mutual Mortgage is outstanding!

For anybody unfamiliar with the «Demand Feature», take a look here.
He says it better than I could.
The guy I was working with at Asset Mutual Mortgage was really nice. Everything was going well until they sent me the «Truth in Lending» document. I noticed that it had the «This loan has a Demand Feature» YES box checked. I asked him to send me a copy that did NOT have the Demand Feature added. It was all still nice, but they wouldn’t remove it. So we parted ways.
Then his boss, Adam, called me and insisted that the Truth in Lending statements for ALL mortgages had a demand feature. I knew that wasn’t true because I already had a mortgage without the feature. We went back and forth, but neither of us was going to change our position, so we again parted ways. The people at Asset Mutual are nice, but I did not want a mortgage that could be called back at any time at the lender’s discretion, so I went with Guaranteed Rate (from whom our existing mortgage came — without the demand feature) instead.
The people at Asset Mutual were nice enough and had Adam not tried to mislead me, I would have been open to still using them if they removed the demand feature. I am not suggesting he lied to me. I am guessing that he really thought that my existing mortgage (without the demand feature) did not exist.
Addendum: After I originally posted this with a lower rating, they gave me a call, retracted the assertion that the demand feature was on all Truth in Lending documents, and offered to proceed without it. I can accept an honest mistake, having made many myself.