First- let me say that I absolutely understand that the industry is changing and standards are tightening (with good reason)- I understand that these changes do have an impact on the turnaround time for a mortgage loan. With all that in mind; I feel I've been MORE then patient with my loan officer and am seriously frustrated at this point-
We originally applied online through the builders website (this is a builder's in-house lender) on Friday Oct 23rd. Rec'd all disclosures and GFE on Tuesday Oct 27th. I had everything- ALL required documentation per the checklist included back to loan officer on Friday Oct 30th- I actually paid about $17 to overnight it via UPS. I called the LO to advise I had done so and asked him to call when he received it. Friday came and went with no call. I called him the following Monday and he then told me he "hadn't had a chance to look at it yet".. Well, it would have been nice to KNOW that before I spent the money to overnight it to him (this after he told me to get it to him "asap")
Loooong story from then to now- suffice it to say that he has NEVER once proactively contacted me- I have had to be the one to reach out every single time. And several of those times, when calling him, I would find out that they were waiting on something from us- some additional documetation or letter the UW wanted. If I didn't call him to check status- I wonder WHEN he would have called to advise they needed something? On top of that- every single time (and I'm not exaggerting here) - they requested documenation of anything- I had it to them withing ONE hour. I always scan and email things and have all of our records, bank account info, etc online so have the ability to obtain and send things quickly.
I am supremely frustrated as this point- anytime I call he says things like "we're getting close", or "boy the underwriters are really busy- working 14 hour days!", or some other non-informative comment. I was last told on Monday that I had made it out of underwriting (again, not because he called ME, but I called him)- but that MN law requires a "second-level approval" so it was being sent for that. I asked him approx how long that would take (again, he would never ever offer this type of info without being asked...) - he said on Monday around 4:00 that it should be "no more than 48 hours"...
So- here I sit, on Friday morning- without a phone call or any contact from him. I would appreciate ANYTHING- just saying "you know, I said it would be 48 hours, but it is taking longer, etc"... I serioulsy have never had a worse customer svc experience in my life! I feel I am stuck with this co though because they are offering incentives and completely covering closing costs. What do you think? Am I just stuck dealing with this? Is this normal? And, even with the more stringent standards, is this turnaround normal? It is an FHA loan.
If you made it this far; thanks for "listening" and I would appreciate any feedback. So So frustrating!
