Conference 7.286::dcu

Go somewhere else - plenty of banks and mortgage cos out there who 
WANT your business, and will be polite, knowledgable and helpful about 
it.  (try coop bank of concord for starters).

       I've been burned by the DCU in a Mortgage transaction, and I'd
    suggest extreme caution in dealing with the DCU as per Mortgages!
    note: The gist of what happened is that they took my Application
    fee, qualified me for the Mortgage, then requested and received
    my "Point" $$$, and then agreed in writting to schedule a Closing
    within 90 Days! The 90 Days came and went, and I'd made several
    attempts at getting the DCU and their Mortgage Attorney to schedule
    me for the Closing within the Days! Then, a couple of Days after
    the 90 Days expired, they (the DCU) notified me by Telephone call
    to my Office (DTN#) that I'd have to appear the next Day (24 Hours)
    at their Attorney's office for the Closing! When they mentioned
    that the Mortgage rate would be more % than what my "Point" $$$
    had 'frozen' the % within the 90 Days, I gave them a tasteful
    Verbal consumer fraud complaint, asked for my $$$ returned to me,
    and told them not to expect me to appear at the Closing! That was
    a couple of Years ago, and they've still got my $$$, and my only
    recourse is to get my Attorney to file a legal complaint against
    the DCU. note: A couple of Days after this unfortunate incident
    I'd called the DCU Mortgage Manager, and got no satisfaction, and
    then I'd called the DCU Public relations Manager and got a polite
    apology for the incident and a polite NO REFUND will be tendered!
    Then, I'd called the State Attorney General's Ofiice (Boston, MA),
    and discussed the whole scenario with a State Consumer Affairs
    Attorney who agreed that I'm entitled to a REFUND, but that I'd
    have to have a Private Attorney handle my complaint against the
    DCU. It's been a couple of Years since the incident, but I'm still
    contemplating hiring a Private Attorney to handle my grievance!!!
    
    						regards,
    							Bob
    

       I don't know how the laws work but you might look into whether
    you might be entitled to Treble Damages. If they legally owe you
    the money and you request it in writing, you MAY be eligible.
                                                        Denny

    THEY MADE US WAIT UNTIL 13 1/2 WEEKS, AND CHARGED US 1 1/2% MORE
    INTEREST THAN WE AGREED TO ..... BUT WE ONLY FOUND OUT ABOUT IT
    AT THE CLOSING !!! 
    
    THAT WAS WHEN THE PAPERS WERE STUCK IN FRONT OF US TO SIGN; 
    COMPLAINING ABOUT IT ONLY GOT A "TAKE IT OR LEAVE IT ... AND 
    OH, BY THE WAY, YOU CAN'T HAVE ANY OF YOUR FEES BACK IF YOU 
    CHANGE YOUR MIND."  
    
    A BANK THEY INSISTED ON PAYING OFF WITH THE HOME EQUITY MORTGAGE
    WAS NOT PAID UNTIL 6 WEEKS LATER (THE CHECK SAT IN THE DCU FOLDER)
    BUT I WAS CHARGED INTEREST BY DCU FROM THE DATE OF CLOSING.  
    
    IT WAS NOT A PLEASURE DOING BUSINESS WITH DCU .
    

    Someone must have been watching over me when I went through DCU
    for my mortgage last spring. Everything happened right on schedule
    and went quite smoothly (except for small problem with the credit
    bureau combining my wife's and her sister's credit history into
    a single person, but even that DCU was very good and helpful in
    getting the whole situation straightened out).
    
    From all the horror stories I have heard and seen in this notesfile
    it sounds like my experience was the exception, and not the rule.
    
    					/ed/
    

    I'll have to second Ed's reply (.5).  We got our mortgage and home
    equity line of credit through DCU and did not experience a single
    problem.  Everything was done promptly and courteously.  DCU provided a
    stellar performance compared to what I went through with a mortgage
    company several years ago.

    Joe

    (PS - Dear DCU,

    	  If you read this message please throw a couple 'thou' into my
          savings account for being a nice guy and sticking up for you.

          Thank you.
    )

The same here. No problems whatsoever. I asked for an extension because
the condo I was selling took longer than expected. The rate was better
than average. 

    I had no problems with my DCU mortgage loan either.  I grant you
    that my financial situation was relatively simple, but DCU gave
    me commitment in only two weeks.  I also received an extension on
    the commitment period.
    The people at DCU were friendly, helpful and seemed to know what
    was going on.  I was careful to keep track of the progress of my
    paperwork by calling on a regular basis.  I would recommend that
    anyone applying for a mortgage do this, to prevent the paperwork
    from getting 'stuck' somewhere.  I had no problems with this at
    DCU.  My paperwork moved promptly from department to department
    and finally to the bank's lawyer.
    To my supprise I even liked the people at the bank's lawyer's office.
    The legal assistants that prepared my paperwork were very helpful
    and there were no errors in the paperwork they prepared.  They worked
    quickly and smoothly around a minor glitch found in the title search
    and got me to closing on my chosen date.  Closing was extremely
    smooth, taking only 30 minutes.
    The only complaint I have with DCU (which has been mentioned elsewhere
    before) is that we had to close at the bank's lawyer's office in
    Wellesley, MA.  In my case, buyer, buyers attorney, seller, sellers
    attorney, and the registry of deeds, were all based in Lowell, MA.  For
    us all to travel an hour each way to Wellesley was inconvienent if not
    downright silly.  But, hey, this is my first house, maybe that's the
    way all banks work?  I guess I can't complain, seeing how smoothly
    everything went.
    
    - Jeff

I had no problem with them either. In fact, when I bought my condo,
they were the only lender willing to qualify me for a 30-year fixed.
All of the others wanted to sell me an ARM.

They also told me up front that the interest rate lock-in expires and
can't be renewed. If you can't realistically expect to close before it
expires, better apply somewhere else. I found their law firm (Cohen
and Kushner) to be reasonable about arranging the closing. 

    	Does the DCU do "VA" loans?  I haven't seen anything in the
    conference about "VA" type loans.
    
    Keith

    I have only one problem.... When I moved to Colorado, they do not do
    Mortgage loans ut here.. OR at least the DCU folks don't know about
    them.
    
    I had a DCU mortgage back east and had NO PROBLEM at all with them.
    
    When will it be available here... so I can refinance..!!!
    

    When I was working at the DCU, I believe that mortgages were being
    offered in Colorado.  I can check with branch here at BUO.  They had a
    listing of the states where mortgages were offered.
    
    Roberta

    If .-1 is correct, then the problem is.... WHY don't the DCU employees
    know about such loans being available. When I asked, they said "oh we
    don't do mortgages here". Heck, they didn't even know how to make a
    payment toward a mortgage loan from the CRT. They had to call back to
    PKO5 (main office) to ask how it was done.
    
    I'm not "bashing" here. it just reinforced the fact of them not
    handling the mortgage loans. I'm sure that one day, they will be able
    to offer such loans.
    
    Bob G.
    

    What is the deciding factor as to whether or not a state is included on
    the list of mortage/equity loan availability?  The list does not seem
    to have grown and I know that many of the employees located in North
    Carolina would welcome the opportunity to utilize the DCU for this
    purpose.