If the loan business was strictly based on rate, internet lending would be reasonable; however, local "brick and mortar" lenders are close in price and way ahead in service (something Countrywide hasn't forgotten). Slamming an easy loan through automated underwriting is one thing; I'd like to see e-Loan tackle a self-employed scenario where the clients 1040 takes a ream of paper to copy (you know the ones where the client makes $500,000 per year but only has $2,000 in taxable income after deductions). What would you want to bet that they would spin it? I refuse to recommend any company that is not full-service. I want docs hand delivered to escrow if necessary, I want the clients signed by the loan officer if the escrow agent suddenly is not available, I want my loan package moved to a new program or investor quickly if my client's loan scenario changes, etc, etc. To put it bluntly, I want all of my clients loans that can be done to be done and I don't want to shop sources to do it. If the difference is only $300-$400 to have the loan professionally packaged and supervised, I strongly feel that my client should invest in the service. As far as Countrywide is concerned, I have a lot of respect for the company as both a wholesaler and retailer (at least in my city). I suggest that you compare the companies by their level of service and competancy rather than who has the coolest website or who offers the best guarantee when they screw up a loan. By the way, I'm a principal stockholder in a mortgage company that competes locally with Countrywide retail.

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