Loan mods are typically done at a 2% rate, 40 years....after they set aside a certain amount.BTW, loan mods are typically recorded just like the original mtg....reading that may give you some clues.

I suspect they make a good amount of their revenue on flipping dreamers who risk the 3k.but if you think about it from Do hard monies point of view for sure they are going to be ultra conservative I don't blame them and they are only going to fund screaming deals where the borrower has Zero skin in the game other than the  3k and 600 fee and there are most likely other little fee's like title and escrow.. but show me a beginner who can land screaming deals.. sure some will stumble on them. but in my 40 years of lending HM most beginners have no clue as to what a deal is.and therefore this company is killing it making 3600 on turn downs.. pretty sweet if you can get away with it. 

I am working on refinance of my single family home with an recently developed ADU unit in the bay area that cost more than 300k to build and the appraiser only added  75k in value for the in law unitThe ADU unit is detached 2 bed/2bath/den/kitchen with its own address and pge meter.Is that a norm in the bay area for ADU properites or the appraiser had no clue on what he is doing. 

I started out investing in stocks not having a clue about what I was doing.

The previous owner didn't have a clue how to do home repair and everything he did I had to completely redo.

When you see a pro-forma and an empty building, you have no clue how the building will perform or what kind of expenses it has.The only exception to that would be if I was buying a distressed property that needed substantial work.

They probably have no clue what kind of "flips" you are attempting, therefore are out of line and owe you an apology!

They are generally pie in the sky dreamers that have no clue what they are doing."

I often go and visit properties that I own, and the tenant has no clue.  

In fact, most likely, they are some wannabe and obviously have no clue as to what they are talking about.