Show HN: Free mortgage analysis tool to avoid getting screwed by closing costs

The privacy and security part is not inspiring confidence. Scrolling to the next section got me thinking "Don't get scammed at closing, get scammed before closing after uploading your mortgage documents to a random website."

Cool idea though.

Hey, Aaron the builder here.

The scamming that happens to homebuyers is not even comparable to the risk in uploading docs to a website which promises they won't share user data with anyone. This is genuinely a pro buyer tool with no association with any 3rd party.

The tool has already helped many people negotiate and get a better deal on their mortgage. Please before judging understand that 70% of buyers overpay in their mortgage 1-3% in closing costs and bad rates. It's mind boggling how much lenders get away with profiting in junk fees from stressed out homebuyers.

Allow me to expound on @kojeovo's remark. Please take this as a constructive criticism to improve your success potential. Much of it is from a quick glance, and am sure there are many other facets to improve.

A business is not just about the product.

Your Privacy Policy. There is no default way to download it (see 9.), and since it is window-ed cannot print entire doc. That means I cannot keep a copy of it for myself.

> We collect the following types of information:

> Mortgage Documents: Loan Estimates and Closing Disclosures you upload for analysis.

Okay, but

> 4. Data Security

> We implement industry-standard security measures to protect your information from unauthorized access, disclosure, alteration, and destruction.

This means nothing. Are you ISO 27001:2022, NIST SP 800-53, CIS, CE+, Essential Eight, or something else? Have you been audited, and proof? Who is your ISP? What regs do you follow around data sovereignty?

Terms of Service. Again, no default way of download. Overall, I would never agree to this ToS. It demands all kinds of requirements on the user, but takes no responsibility for anything - or as described above, explain how you will protect your customers.

You have no reference anywhere where you are geographically. No address, no about us, no who you are. I would be very leery on uploading anything.

Legitimately curious, what’s the worst they could do with this data?

The most common scams around home buying are wire fraud - contact the buyer pretending to be the title company and steal their money. The data in a mortgage is exactly what you need to enable these scams and you're getting people to hand it to you and at the same time tell you they are about to wire money.

I have never done a wire transfer at a residential closing. I come to the closing at the title company office with a cashier's check from my bank for the amount they told me to bring.

Cashier's check was only accepted for amounts less than $10k at our closing by our title company. This seems common to require wire. The title company contracted with a 3rd party escrow service so the money was required into the title company's account at the escrow service. I assume a cashier's check would need to be mailed to the escrow company