A family member has just had a bad experience with State Custodians. Their house is valued at $900K, equity is $600K  and they have never missed a morgage payment. It took State Custodians 9 weeks from applicate date to reject their application. They are currently with one of the big banks and were looking to save themselves some $ whilst the husband was on study leave, fully paid for by the employer. It would have been a nice contract for State Custodians.