I really hate it when my buyers use a mortgage broker that I do not know or trust. Here is what happened. My buyers are in the process of buying a spec home from a local builder. We made the offer and got it accpeted and everything was great. We were suppose to close on Thursday but the city building inspector put off his final inspection untill this morning. Anyways I called the mortgage broker from Mountain America Credit Union (I suggest never getting a loan with these people). I stoped by her office on thursday and asked if everything was ready to close Friday at 4:00 PM. She states to me that as long as she gets the C of O before noon she will have docs and we can close at 4 on Friday. So anyways I call her today (friday) at 11:30 and ask if the C of O was in and she said yes. I asked her "So the Andersons have everything in and we are ready to go at 4 PM today" She anwsers "Yes" So anyways at 4 pm we show up at the title company ready to go. Proud husband with happy wife ready to purchase the home of there dreams. Guess what? No docs, in fact the escrow officer at the title company had even called the mortgage officer at home because she was now "Sick". Ok listen I have been in this business long enough to know the docs dont always come in and that sh!t happens. I am just really pissed that the girl didn't even bother to call my client or at least have someone from her office call. You should have seen the mood drop in that title company. Her we have 2 of the most excited people just have to put everything on hold until Monday possibly tuesday while Mountain America twiddles there thumbs. Anyways this is my vent sorry you had to hear it. Lesson of the day is have 3 good mortgage brokers and make sure your clients use them so you dont have problems like this.

I deal with this at least once or twice a month... As you said Sh1t Happens and there is not much you can do about it.

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Coastal Delaware Real Estate Sales
REHOBOTH BEACH CONDOS | REHOBOTH BEACH REAL ESTATE | REHOBOTH BEACH MOBILE HOMES
* Results not typical. Individual results may vary.

As much as I don't like it when they choose to use someone else who is their "friend" or something, I have to hold back the "I told you so you dumb@$$" Rarely does it seem to work out as well as when they use someone I reccomend.

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Ryan Ward, REALTOR® - Keller Williams Realty Consultants. (404) 630-3187
Atlanta Real Estate - My featured area is Alpharetta Real Estate and it is where I call home. Read my Atlanta Real Estate blog.

I think we've all had this happen at least once. You just found a lender NOT to work with ever again. I would also be asking for something at this point also on behalf of my client......reduction of origination fee, eliminate a junk fee etc. Can't say I know a "surefire" way of staying out of that situation completely but I've noticed going over the gfe throughly from 3 of my lenders that one of them usually wins the biz.

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Charlotte NC Real Estate | Lake Norman Real Estate |
Charlotte Homes for Sale

Have you ever considered a stealth loan. We use those here. When we have one of those where things just don't seem to be right, we have a lender that will put together a loan package as a stealth loan. (This is with the buyer's approval of course) we explain this is a backup for those things that sometimes pop up with lenders.

Our stealth lender does it all, and if the kind of thing happens they stealth lender is ready to step in and fund.

We make it a practice to stay in touch with the lender and the title company. If the lender says docs are there, we call the title company, if docs aren't there we find out why. Then, if the lender really hasn't sent the docs and the closing is in jeaparody we call the stealth lender and he submits docs.

It has saved a few closings. And it makes you look wonderful.

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Dave Tucson Real Estate & Tucson Homes

That is a great idea. This isnt the first time this has happened to me and I am sure it wont be the last. I was just venting. O to make things worse the lendor is on salary and this loan is worth all of about 500 dollars in bonuses to her so he could really care less.

My heart goes out to you! I go through the same type of thing here in Atlanta! I just wish all of my clients used "my" loan officer!

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Mike Giraldi, REALTOR® - Solid Source Realty Atlanta
Direct - 770.361.8659

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