Primerica SMART Loan?

I’m interested in learning what you know about Primerica’s loan program that is backed by Citicorp Trust Bank. Citicorp is a huge financial institution and one would assume if their products were bad it would be all over the news. I keep reading about Primerica’s pyramid structure, but I’m more interested in their mortgage loan program. My neighbor approached me about a refi (since i’m refinancing anyway) and handed me the paperwork for the “Smart Loan”. I researched it and saw SO MUCH bad press about Primerica being a scandelous sceme, but nothing about their products that are supported by Citicorp. Can someone please shed some light for me? I do not want to get involved in a pyramid business at all but I can’t find anything out about their loan programmes. Help!!!! Should I just go straight to the citibank and deal with them rather than primerica who has a terrible reputation?
Oh and I have a 798 Fico and refuse to do anything but a 30 yr fixed. I will not work with Wells Fargo because they coded my 30 yr fixed as an ARM and it took me many hours of he!! to have it corrected on my credit report.

I’m trying to compare my existing conventional mortgage (27 years remain on a 30 years loan at 5.85%) to a Primerica SMART loan (23 years at 5.93%).

I’m looking to refinance to eliminate a 2nd mortgage (15 year + balloon 2nd at 7.5%). And I’m wondering how to best compare a conventional to a SMART loan.

Thanks!

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