Here is the skinny on Emigrant:
They take a long time to do things. They are tough on appraisals.
You may submit a loan that fits their guidelines, but for no reason at all they change it around especially for you (higher rate, lower loan amt etc..)But at the end of the day they are a great resource since they are doing loans that nobody else will touch.If you know what you are getting into when you send them a loan, you will not be dissapointed [even if they (not uncommon) counter-offer].
They are unlike any other lender in many ways. Actually, in some ways, every other lender is becoming more like them. I dont think Emigrant has changed much in the last 2 years.