Complaint / review text:
I received a mailer offering a low-cost $295 refi of my mortgage at 3.04% from Third Federal in September. I went online and applied for the loan on Third Federal's web site.
I own my own business, so proving my income required that I get a statement from a CPA to reflect that my books are in order. I thought this was a little much since they could easily review my business banking statements for the last 5 years and thereby confirm my income flow. But, hey, it's their money, and they get to decide to whom they lend it and on what terms they lend it. I paid a CPA $250 to write a letter as requested, and all was fine.
I closed on my loan a couple weeks ago. The closing attorney even came to my house to sign the papers. My loan agent at Third Federal stayed in touch with me throughout the process and was always very responsive when I emailed questions to her. They kept their word and gave me my loan at a cost of only $295 (excluding what I had to pay the CPA).
They seem to be pretty strict with their underwriting requirements, especially for business owners, but there again, it's their money.