If a bank employee moves to a new bank, gets promoted, demoted, fired – they don’t think
about calling us. Instead they move on with their lives like 99.9% of other
people do. So the bank list may not be 100%
accurate at every moment. These contacts are just somebody we talked to in the
past, but the bank and their loan vehicles often remain similar.
Further, since HELOCs don’t pay commissions, some bankers only get paid an hourly wage
to help answer 20+ calls a day from our students. Due to this, some call us and request we remove their bank from our list! So some contacts are really good and
some not so much. Thankfully, these tend to be smaller banks and credit unions
with just a few branches and service in (3) or fewer states. Sometimes they
won't know answers to some of the questions. As long as each student sticks to the
questionnaire, they'll be fine even when talking with banks not found on our
list!