topic Re: Is it normal for a loan officer to do this...... in Mortgage Loans

Is it normal for a loan officer to do this......

luckyashes04 — Mon, 25 Feb 2013 22:43:52 GMT

We are getting very frustrated with our LO at this point.....she doesnt return any calls, or emails. I was communicating with her assistant and now her assistant is becoming rude with me. I have explained to both of them that this is my first home purchase and I will have lost of questions. They both laughed and said they understand. I would walk away from them, but we are building a home and the builder owns this lender and they give extra insintives if we use them. The only time my LO called me back was when I emailed the sales lady at the builder and told her how upset I was.

I am just curious...is this normal for the LO to not keep you in the loop and answer calls?

Re: Is it normal for a loan officer to do this......

DallasLoanGuy — Mon, 25 Feb 2013 22:53:56 GMT

google this "Helping Hand In Builder Disputes By Kenneth R. Harney"

do you have a realtor? that realtor should be on the builders butt like a crazy person.

you shouldn'[t have to deal with poor customer service to get an overpriced incentive

Re: Is it normal for a loan officer to do this......

luckyashes04 — Mon, 25 Feb 2013 22:57:20 GMT

No we dont have a realtor. We just went to talk to the sales lady at the builder. She is the only one at this point that is helping us. I guess the LO sees it as she did what she needed to and now it is sent to the processor and then to the UW so she doesnt want to deal with it. I donno what to think now.

Re: Is it normal for a loan officer to do this......

luckyashes04 — Mon, 25 Feb 2013 23:03:40 GMT

Thank you for the article....thank goodness we are not having to deal with anything like that (yet), just with the LO not returning our calls. I will keep that # handy just incase they try to pull anything on us. Thank you again!!

Re: Is it normal for a loan officer to do this......

Anonymous — Mon, 25 Feb 2013 23:10:21 GMT

The sales lady is technically the realtor for the builder.

Its a win win for them to try and keep everything in house.

While I try not to voice to much of my opinion when clients are buying through a builder I do try to hint to them they need a buyers realtor to represent them.

Good luck hope you get a little more customer service.

Re: Is it normal for a loan officer to do this......

DallasLoanGuy — Mon, 25 Feb 2013 23:12:58 GMT

tell the sales person about your problems and let that salesperson know that you WILL BE WRITING a letter to the builder.....

Re: Is it normal for a loan officer to do this......

luckyashes04 — Mon, 25 Feb 2013 23:18:49 GMT

Thank you, I will do that. My only fear is that the LO will get upset with me about going above her because she hasnt helped me, and she will intentionally not help me with getting the loan, and just get so annoyed that she will say "screw you" and not help me.

Re: Is it normal for a loan officer to do this......

Anonymous — Mon, 25 Feb 2013 23:26:44 GMT

@luckyashes04 wrote:
Thank you, I will do that. My only fear is that the LO will get upset with me about going above her because she hasnt helped me, and she will intentionally not help me with getting the loan, and just get so annoyed that she will say "screw you" and not help me.

While they may get upset and annoyed.... They are getting paid and it is their job....

You mentioned the builder owns the Lender? Are you sure about this? Or is it just their preferred Lender who they offer their perks through?

I agree with Dallas, to contact and let them know you will be contacting the builder. I am more thinking its the preferred Lender for the Builder, and I do not expect he wants to lose business for lousy customer service.

Re: Is it normal for a loan officer to do this......

luckyashes04 — Mon, 25 Feb 2013 23:50:15 GMT

When I met with the LO a few weeks ago, she said that they are partly owned by the builder. We have our pre build meeting tomorrow morning with the builder and sales agent, I will talk with her then and vent.

Re: Is it normal for a loan officer to do this......

tooleman694 — Tue, 26 Feb 2013 00:09:57 GMT

Just stay on them hardcore. Just keep applying pressure and if it goes nowhere then you complain to the home builder. Trust me, that will fix it.

Re: Is it normal for a loan officer to do this......

Anonymous — Tue, 26 Feb 2013 01:43:32 GMT

I could have written this post myself. Ugh. We started in November and while we were getting approved to start building she was in contact quite often. But now that we are waiting for the house she cannot be bothered to reply to (the at least 6) emails I have sent in the last 5 weeks or so. Or answer voice mails. She sucks. Not even a quick "we don't need to worry about that now", so rude. I do believe that she will do her job and the loan will go through buy I feel the same way, I do t want to piss her off to the point she sabotages our deal. The lender is partially owned by the builder.

Re: Is it normal for a loan officer to do this......

luckyashes04 — Tue, 26 Feb 2013 02:21:32 GMT

Violetsmom.....I wonder by chance if we have the same LO, we have the exact same situation.

After I posted this today, the LO assistant emailed me back letting me know that we should have an answer of pre approval back in March sometime....well ummm hate to burst their bubble but we HAVE to know by end of March if we get approved or not that way we know what to tell our apartment if we need to renew our lease or if we are moving. I will give them till March 12, then I will demand an answer. I dont understand why it woud take that long for them to give us a pre approval, I wonder if it is because it a house that is being built and they know they have sevearal months to get the loan process done.

Oh well. We are headed to Disney World tomorrow so I am not going to think about it and have a wonderful time enjoying our family vacation!!

Re: Is it normal for a loan officer to do this......

Anonymous — Tue, 26 Feb 2013 02:29:57 GMT

You guys aren't alone I have a very similar situation. I got an automated email the other day letting me know that after closing I would get a survey and If I felt I could not rate them a 10 to let them know immediately. I emailed them and said as a first timer I felt that there communication basically sucked. I immediately got responses to all the questions I had been asking and just a complete different attitude. Much friendlier to me now even though I am sure they hate me.

Re: Is it normal for a loan officer to do this......

tooleman694 — Tue, 26 Feb 2013 02:56:31 GMT

Did they fix the closing date for you.

Re: Is it normal for a loan officer to do this......

Anonymous — Tue, 26 Feb 2013 03:05:29 GMT

Yes! The loan officer apparently hasn't paid any attention to the updates so now we are back in match but closer to the end of the month. As long as its before April 1 I am good.

Re: Is it normal for a loan officer to do this......

tooleman694 — Tue, 26 Feb 2013 03:09:05 GMT

Yes!! I am glad to hear they fixed it.

Re: Is it normal for a loan officer to do this......

Anonymous — Tue, 26 Feb 2013 03:11:36 GMT

Short answer, no...the LO shouldn't be blowing off your calls. I also went through a builder's lender and my LO was extremely responsive when i called him and I had my Realtor calling both the builder and the LO frequently for status. You need a realtor. The biggest false assumption about new construction homes is a realtor and inspector are not needed. Our realtor also bought us an additional 4 year warranty on the house at closing. And he negotiated a $500 credit at closing from the builder to cover over 50% of the cost of a Radon Mitigation system. Our private inspector uncovered extremely high Radon levels in our home which can cause lung cancer. Radon doesn't discriminate between old and new homes. it depends on the soil the house was built on and how sealed the house is. If the builder said your home is extremely energy efficient...you definitely want to test for Radon. Schedule your inspection before the preliminary walkthrough. Give the report to the builder and negotiate what issues the builder will take care of. Our inspector also found missing/damaged shingles, and a small gas leak coming from the water heater.

The builder will pay the realtor...not you.

Re: Is it normal for a loan officer to do this......

Anonymous — Tue, 26 Feb 2013 03:17:33 GMT

I believe that OP you also live in Colorado. So please please test for Radon...it is a very dangerous odorless gas that attacks your lungs with radioactive material when inhaled. The builder's in CO won't test and mitigate for you. If your home was built with a sump pit in the basement, you can get it mitigated for $850. PM me if you want the contact info of the company I used.

Re: Is it normal for a loan officer to do this......

luckyashes04 — Tue, 26 Feb 2013 03:20:06 GMT

I will get in touch with the realtor...our sales lady set us up with a realtor, who is actually paying 1% of our closing costs for us. I will contact her and see if she can help us. Thank you.

Re: Is it normal for a loan officer to do this......

luckyashes04 — Tue, 26 Feb 2013 03:21:05 GMT

I wished I lived in Colorado...its beautiful. However I live in Texas...lol