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Loan Originator Wont' Return Calls

Established Member

Loan Originator Wont' Return Calls

I started considering house buying about a month ago. A realtor I contacted passed my number on to a mortgage broker/loan originator here in town, who called me and went over my situation with me. I had wanted to wait until my scores crept up just a bit, but she suggested that I go ahead and apply, so that they could pull my scores and see what was what. I had some other factors such as shorter than 2 year employment at my company, using child support as part of my income, etc, so she said after she pulled the scores we could look at the whole picture.

Well, she pulled the scores, but she didn't call back. I put the app in last Tuesday, then called on Thursday and Friday. No call back. Monday I got an email saying she'd had family issues, and would call that afternoon. Nada. It has now been 12 days since I applied, and I'm not getting a return email, call, zip. 

Is that normal? I can imagine that she's not rushed if I have work to do, but I very much dislike the idea of doing business with someone who says they'll call that afternoon, but can't drop an email to say they'll be delayed. I also dislike the idea of having anybody else pull it now, since it's been pulled pointlessly once already.

Message 1 of 7
6 REPLIES
Regular Contributor

Re: Loan Originator Wont' Return Calls

It might be worth those extra points from another lender pull because you do not want to deal with someone who doesn't have the common or professional courtesy to give you a call or email to keep you updated on the status of your application. Do your own research, call around and give the lenders your scenario before having them pull your credit and see what they say and more importantly how you feel about them. Don't continue to waste your time on this person. Good luck.


Starting Score: 529
Current Score: EQF 643, TU 677 EXP 631,Lender Pulled Aug 2, 2013 EX 665, TU 664 and EQF 643
Goal Score: 701



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Message 2 of 7
New Contributor

Re: Loan Originator Wont' Return Calls

Something similar happened to me. I contacted the banks manager, filed a complaint, and had the inquiry removed from all three of my credit reports. It's not fair to you to be penalized for an incompetent employee. I hope it all works out.
Message 3 of 7
Super Contributor

Re: Loan Originator Wont' Return Calls

You have a 30-day window for your credit to be checked again by a mortgage company and not have any further impact than the initial inquiry.  See http://www.myfico.com/CreditEducation/CreditChecks.aspx?

 

However like has been mentioned, I'd contact the loan officer's manager and ask what is up with the loan officer, perhaps she's left the company or something.  Take the way that they handled the situation into consideration when determining if you want to pursue financing options with them.  You may also want to let the real estate agent know as well.

Mortgages (FHA, VA, USDA, Fannie, Freddie, Non-Prime) since 2002, based in Irvine, CA and lending in all 50 states

Information that is needed to determine if you qualify for a mortgage

Message 4 of 7
Established Member

Re: Loan Originator Wont' Return Calls

Well, yesterday I sent a strong email letting her know plainly that if she can't get back to me, I need to move on to someone else. She quickly sent me an email letting me know it "had been one of those weeks" and offering to call me this morning. It is now 12:11. I have sat around the house all morning, although my kids and I had previous plans for the day. No call. Won't answer her phone. 

I think we're done here. How very disappointing. 

 

Message 5 of 7
Super Contributor

Re: Loan Originator Wont' Return Calls

Yes it is, time to find someone new.  Sorry it happened, go enjoy the day with your kids.

Mortgages (FHA, VA, USDA, Fannie, Freddie, Non-Prime) since 2002, based in Irvine, CA and lending in all 50 states

Information that is needed to determine if you qualify for a mortgage

Message 6 of 7
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Moderator Emeritus

Re: Loan Originator Wont' Return Calls


ShanetheMortgageMan wrote:

Yes it is, time to find someone new.  Sorry it happened, go enjoy the day with your kids.


I totally agree.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 7 of 7