@Klesko wrote:
I am in the process of underwriting for my loan for closing next friday. My LO has been pretty absent lately and he told me someone in his family is having some health issues and someone else is helping him on my loan. He hasnt been returning emails and hard to get on the phone.
This has me pretty nervous about it all.
Also I didnt get a GFE until monday and saw their orgination fee is 1.25% which I think is pretty high.
Is there any harm in finding another place as a backup just in case this loan falls through?
Have you tried calling the company directly and seeing if there was someone who can assisst you since he is not available?
If he has someone assissting him on your file you have the right to know who it is and that they are qualified.
In my opinion I do not feel you have anything to worry about, but I do not blame you for wanting to take precautions. You can use a different LO but at this point being so near to closing most likely you will be delaying your closing.
You are suppose to get your GFE with-in 3 business days of application. If it was mailed to you then the post mark date should be with-in the 3 business days from application. Excluding Holidays and such.
The origination fee that is now shown on a GFE, includes the lenders origination, processing fee, underwriter fee, wire transer fee and others. While it is not necessary to break down these fees on the GFE you could ask your LO to give you a break down. Some fees are negotiable while some are not. In my opinion 1.25% isn't high at all but you can always try and negotiate for a better deal.
