One of these lenders just doesn't belong ...

[Peter Kozlowski]

So I've been shopping around for best rates with several lenders (Bank of America, JP Morgan Chase, and Citibank). 

I was talking to a loan officer at Bank of America, and he said he'd send me a fee sheet with his APR and closing costs etc., and that if I had any questions that he could answer them by phone.

But when I asked him if we could just keep it in writing by answering my questions by email, he refused, saying that it was against BofA regulations. 

The strange thing is, both Chase and Citi had no problem answering my questions about their fee sheets by email. 

What really rubs me the wrong way about all this is that I've been a loyal BofA account holder going on ten years, and it's none other than my own bank that is telling me this.

Is it me, or is there something fishy about their refusal to keep everything in writing?

[Jody Sperling]

I worked for a large insurance company for years, and our directors always told us to refrain from putting things in writing. It's easier to litigate when there are written texts. So, yes, it is fishy, but not uncommon.

Why not take this opportunity to switch your banking to a local institution? You have far more options on loan and line of credit products, and many local banks keep your loans in house which means they're far more concerned about working with quality customers and tend to treat you with far greater respect?

I switched away from Wells Fargo several years back, and I can't tell you how much my banking experience has improved.