Re: Loan Officers Duty
10-08-2012 08:02 PM
My FH and I originally applied with Navy Federal CU and I have absolutely no doubt in my mind that our loan officer cost us approval during the underwriting process. I had to ask him THREE TIMES for a copy of my credit report. He seemed to never check his email until I called him. I forwarded him multiple documents, including a deletion letter of an item on my credit that would make my scores increase, and asked him to forward them to the underwriter with our packet. He said he would forward them to the underwriter "if they asked for it". In the end, our loan was kicked back to him for a technicality which should have been explained in the packet. He sent it back with an explanation. Then we were denied because my scores, while within parameters, were not as high as they'd "like" to see. However, if my LO had forwarded the documents I asked him to forward, they may have pulled my credit again and seen that my scores increased by 20 points!
I understand your frustration. My suggestion is to ask for a different loan officer, or if you've already submitted all your paperwork, I would wait to hear. If you're denied, try someone else! We went to a local mortgage company, and our loan officer is on the ball. He's extremely attentive, takes the time to explain and answer all questions, and stays in touch.
Goal: 700 club