I just had to post to see if anyone else in here has dealt with issues with their LO. Are they not suppose to keep you up to date on ALL that is going on with your loan application no matter if it si good or bad??? Shouldn't clients NOT have to feel "scared" to call them for fear of feeling as if you are a "bother" to them, when it is their job and duty to be there no matter what?
Our LO has dropped the ball on our application process numerous times and I'm at a point that I want to call everyday to follow up!! A few had we not "followed up" would have bit us in the behind!! But at the same time I do not want to do so for fear of getting on their bad side and possibly cause them to do something that can jeopordize loan application.
We are in limbo and do not know if our file has been submitted over to USDA for final underwriting review and approval!! Our clock is ticking on our end and we are running out of time! I have allowed 3 days to go by with no answer from them. This is driving me crazy!!!
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.
Our loan officer is very nice but sometimes she has been known to not answer her office or cell phone. But then she bounces back with an email and shows she is on top of everything. So I just stopped trying to call her and just email her... seems to work better in my situation.
I'm glad to see that I am not the only one with this issue.
Panda2108 THAT is exactly my husband's concern with our LO!! He has done numerous mistakes since the very beginning and it seems as if it takes someone else, like the Sales Rep who is selling us the house and my husband to let him know "hey, you missed this!" or "why do you not use this?" to let him realize he is not doing certain things right! At one point he was out of the office due to "Special Circumstances" we did not know until I sent him an email to ask where our updated docs were to sign, low and behold, I received an automated response stating he was out of the office, to please contact so and so. SO, I contact "so and so" asking for answers and where we stood, well turns out if was his boss's email. He calls me with this tone was not his usual "perky" self and made knwon that I had contact his boss. THAT right there made me upset and bothered!!
If he was up to speed and on top of our file we wouldn't be constantly harrassing the guy! But like my husband's says this is our money! This is a huge investment we are making, furthermore, we've had to shell out plenty of money to follow through with their "Home Buyers Club" we were placed in, in order achieve the scores we needed to move forward! So I will tell, you my husband will DEFINITELY cause some heads to roll if our loan gets denied by USDA!!
Today I will be calling again as its been 4 days now with know answer, no status, no nothing! Plus, next week Thursday we must vacate our apartment and to where? My in-laws for the time being since THIS is another issue where our wonderful LO dropped the ball! How do you tell client it's okay to move out but not have a closing date???
Truly, truly frustrated here!!
scmami, after my experience so far, I'd say DEFINITELY be in the loop!! Ask questions, do not take no for an answer, be on top of them!
You want to avoid a "nice surprise" in the end all due to the LO not following through accordingly. I really hate LO's that lack people skills.
Good luck!! Keep us posted!
It definitely is their JOB to keep you in the loop. I'm guessing it's pretty busy out there, so within reason, you should expect email updates regularly - and when it starts rolling (once you have a signed purchase agreement and are moving into underwriting) - you should get emails daily.
When we bought a house I talked to my LO every single day. She knew how anxious I was.
Send your LO a clear email telling her/him you expect more communication. If they don't give it to you, tell their boss.
And if they still don't, never refer them to anyone and get out if you can.
My LO feels like my BFF right now. We chat about all kinds of things. I'll probably give her movie tickets when it's all over.
That said, I also have to remember that I'm not her only client, even though she's my only LO, so she has to do other closings, other apps, take care of kids, etc. so I try to cut her a little slack. Yes, we are obsessing over our credit profiles, UW conditions and all, but they are just doing a job.
I think a "ping" email after 3 business days is appropriate.