The fact that the broker has not yet provided a GFE for the loan and closing 3 weeks into the lending process and a week from close is indefensible regardless of any of your other points.
Respectable people who are still in the industry should take every opportunity to call people like this out–they are the very essence of what has been wrong with the industry over the last several years.
I had a horrible experience with my mortgage broker when I bought my house in 2003. He misrepresented the loan terms in the GFE and I didn’t find out until I was sitting in the escrow office sitting in front of a stack of documents. Knowing what I know now, I’d have walked out and refused to sign. However, at the time I was ‘under’ educated–I knew what I was signing and didn’t like it but didn’t know the ramifications for the sale if I balked at closing. I’d be paying a much lower interest rate if I hadn’t gotten pinned with a 5 year prepay.
Bottom line, I loved my RE agent and highly recommend him but there is a special place in hell for people like my broker. I’d just hate to see someone else get screwed over.
