topic Re: Mortgage Officer Not Responding in Mortgage Loans

Mortgage Officer Not Responding

Anonymous — Fri, 10 May 2019 04:30:13 GMT

I was working with a loan officer starting in February. At first he was awesome.. giving me updates weekly, helping me get my scores where they need to be. He was going to do a rapid rescore, I got him the docs and now he isn’t responding. How long would you wait before moving on? He’s an ex coworker so I feel obligated but I also want someone who is going to work hard for me.

Re: Mortgage Officer Not Responding

Revelate — Fri, 10 May 2019 12:28:00 GMT

How long has it been since you heard from the LO?

Re: Mortgage Officer Not Responding

Anonymous — Fri, 10 May 2019 12:42:21 GMT

2 weeks

Re: Mortgage Officer Not Responding

VALoanMaster — Fri, 10 May 2019 15:28:33 GMT

@Anonymous wrote:
2 weeks

Sounds to me like your LO is waiting for your accounts to update organically because they either don't want to pay for the rapid re-scores or their company won't.

Re: Mortgage Officer Not Responding

Anonymous — Fri, 10 May 2019 15:34:29 GMT

I can appreciate that, but he was the one that originally advised me that was what he was going to do. My expectation is that if that is what he is doing he should communicate that with me. What is a reasonable time for him to respond to me? I used to be a commercial real estate loan doc processor, my team and underwriters always responded within 24 hours.

Re: Mortgage Officer Not Responding

Anonymous — Fri, 10 May 2019 15:39:48 GMT

I’d reach out one more time and then move on if you don’t hear back in 48 business hours.

I had an unresponsive LO back in 2016 who also constantly gave me bad advice that backfired, and it was a nightmare. Closing was delayed so long I had to move out of my rental and ended up giving up on the purchase and renting again. That’s an extreme example but I’m using a different company this time and they even have a credit division to help with any issues, and I get replies back almost immediately.

It’s SO much less stressful.

Re: Mortgage Officer Not Responding

Anonymous — Fri, 10 May 2019 15:44:19 GMT

Thank you, that is exactly what I am afraid of. Our lease is up in July, so we are trying to time it. I will do that, thanks for the advice!

Re: Mortgage Officer Not Responding

VALoanMaster — Fri, 10 May 2019 16:21:26 GMT

@Anonymous wrote:
I can appreciate that, but he was the one that originally advised me that was what he was going to do. My expectation is that if that is what he is doing he should communicate that with me. What is a reasonable time for him to respond to me? I used to be a commercial real estate loan doc processor, my team and underwriters always responded within 24 hours.

Short of him being in the hospital or dead, I'm not sure there is any other reason he hasn't responded to you.

Let's say his company won't pay for the re-scores. How is he supposed to "compete" with other lenders that will?

By selling it but then waiting for the accounts to update on their own. My gut tells me he is dodging you because he doesn't have updated scores for you.

Re: Mortgage Officer Not Responding

CreditInspired — Fri, 10 May 2019 18:33:53 GMT

@Anonymous wrote:
I was working with a loan officer starting in February. At first he was awesome.. giving me updates weekly, helping me get my scores where they need to be. He was going to do a rapid rescore, I got him the docs and now he isn’t responding. How long would you wait before moving on? He’s an ex coworker so I feel obligated but I also want someone who is going to work hard for me.

Since he's an ex coworker, I would give him a call one last time and say, "hey bro, haven't heard from you in 2 weeks. If you don't want to work with me, it's okay, we still friends. But, I need to hear from you today about what's going on. If not, I'll move on and find another LO."

This is exactly why they say don't work with people you know.

Re: Mortgage Officer Not Responding

Anonymous — Fri, 10 May 2019 19:20:08 GMT

So true, I should have known better working with someone I know.

Re: Mortgage Officer Not Responding

Anonymous — Sun, 12 May 2019 09:07:09 GMT

Update! He never responded, tried the mortgage co my realtor recommended and got prequal in 24 hours... my scores were up!

Re: Mortgage Officer Not Responding

CreditInspired — Sun, 12 May 2019 11:11:19 GMT

@Anonymous wrote:
Update! He never responded, tried the mortgage co my realtor recommended and got prequal in 24 hours... my scores were up!

Good for you!!! Congrats on moving forward.

Re: Mortgage Officer Not Responding

gdale6 — Sun, 12 May 2019 14:55:23 GMT

@Anonymous wrote:
Update! He never responded, tried the mortgage co my realtor recommended and got prequal in 24 hours... my scores were up!

Very good. I fired a LO years ago for no response within 72 hours, had no time to waste.

Re: Mortgage Officer Not Responding

WD2005 — Sun, 12 May 2019 15:48:34 GMT

I had something similar happen to me. I have a friend who's a LO and I reached out to him and it took him like a month to respond. I ended up going with one of the members in this very thread instead and so far so good.