Problems With My Loan Broker

[Raybyrnes]

Faxes can be problematic and frustrating for both you and her. See if she can’t email it to you. That should eliminate the problem. You are in the middle of a month so that works in your favor. There should be more people available to assist with processing.

To me there seems to have been a break down far earlier in the process. If you did a good job selecting your broker and you understood exactly what their role was going to be and what you could anticipate from them then you would not have so many questions to ask at this point.

For other posters who talk about what the broker is going to make. What do you know? you don’t have their commission or Profit and Loss Statements. So maybe this is a loss leader at this point.

Not to be rude to you KPP but ther are customers who bring a lot of anxiety to the table and a professional who has been doing there job for a long time and is extremely reputable doesn’t always want to be selling. They want to go out find a competitive lender get you the best rate and get things closed.

If this broker did not come referred, simply promised the best rate and you went them because of a rate, or some type of giveback then I would be skeptical.

If the broker were writing the post about you how would it go. There are always 3 sides to the story. Your side, her side and the real side.

[meadandale]

More info….

http://www.finweb.com/mortgage-loan-education/tila-respa.html

Looks like it is RESPA not TILA that mandated the GFE. My bad…

“RESPA mandates that borrowers receive disclosure documents at various times during the loan process. At the time of application, or within three days afterward, the lender must provide the borrower with the Good Faith Estimate”

[meadandale]

More info….

http://www.finweb.com/mortgage-loan-education/tila-respa.html

Looks like it is RESPA not TILA that mandated the GFE. My bad…

“RESPA mandates that borrowers receive disclosure documents at various times during the loan process. At the time of application, or within three days afterward, the lender must provide the borrower with the Good Faith Estimate”

[meadandale]

More info….

http://www.finweb.com/mortgage-loan-education/tila-respa.html

Looks like it is RESPA not TILA that mandated the GFE. My bad…

“RESPA mandates that borrowers receive disclosure documents at various times during the loan process. At the time of application, or within three days afterward, the lender must provide the borrower with the Good Faith Estimate”

[meadandale]

More info….

http://www.finweb.com/mortgage-loan-education/tila-respa.html

Looks like it is RESPA not TILA that mandated the GFE. My bad…

“RESPA mandates that borrowers receive disclosure documents at various times during the loan process. At the time of application, or within three days afterward, the lender must provide the borrower with the Good Faith Estimate”

[meadandale]

More info….

http://www.finweb.com/mortgage-loan-education/tila-respa.html

Looks like it is RESPA not TILA that mandated the GFE. My bad…

“RESPA mandates that borrowers receive disclosure documents at various times during the loan process. At the time of application, or within three days afterward, the lender must provide the borrower with the Good Faith Estimate”

[HLS]

RAY, what planet do you come from that you want to justify that customer service…

Give me a break,, There is ABSOLUTELY NO EXCUSE for anyone having to ask for something more than once, and there are certain things that they should receive without even asking.

It amazes me how borrowers put up with this crap,, and are WILLING to take it..

[HLS]

RAY, what planet do you come from that you want to justify that customer service…

Give me a break,, There is ABSOLUTELY NO EXCUSE for anyone having to ask for something more than once, and there are certain things that they should receive without even asking.

It amazes me how borrowers put up with this crap,, and are WILLING to take it..

[HLS]

RAY, what planet do you come from that you want to justify that customer service…

Give me a break,, There is ABSOLUTELY NO EXCUSE for anyone having to ask for something more than once, and there are certain things that they should receive without even asking.

It amazes me how borrowers put up with this crap,, and are WILLING to take it..

[HLS]

RAY, what planet do you come from that you want to justify that customer service…

Give me a break,, There is ABSOLUTELY NO EXCUSE for anyone having to ask for something more than once, and there are certain things that they should receive without even asking.

It amazes me how borrowers put up with this crap,, and are WILLING to take it..

[HLS]

RAY, what planet do you come from that you want to justify that customer service…

Give me a break,, There is ABSOLUTELY NO EXCUSE for anyone having to ask for something more than once, and there are certain things that they should receive without even asking.

It amazes me how borrowers put up with this crap,, and are WILLING to take it..

[meadandale]

@Raybyrnes

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.

[meadandale]

@Raybyrnes

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.

[meadandale]

@Raybyrnes

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.

[meadandale]

@Raybyrnes

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.

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