Provident Wholesale and Retail pricing Matrix and Rate Sheet
I am a broker here in CO and I have a borrower that priced a 50% LTV 10 year fixed rate on Provident site and it is givning him a 0.25% credit back for FICO/LTV. From everything I know that is only for mortages greater than 180 months and would not apply to a 10 year. Can someoen that is signed up with Provident please check your pricing matrix and let me know if it has the typical disclaimer that is shown on all rate sheets. I just went round and round with a Provident Retail person that knows absolutely nothing about the mortgage business and did not even know what a matrix was. Then he fowarded me to a LO inside of Provident who also refused to look at his rate sheet and only priced off of the pricing engine.
I know it would have to be wrong, right? I would think all lenders conform to the same rule on the LTV / FICO matrix only applying to 20 year and 30 year mortgages.
Please provide your input and info.