Mortgage Officer Not Responding

[Anonymous]

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.

[Revelate]

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

[Anonymous]

2 weeks

[VALoanMaster]

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@Anonymous wrote:
2 weeks

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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.

[Anonymous]

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.

[Anonymous]

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.

[Anonymous]

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!

[VALoanMaster]

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@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.

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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.

[CreditInspired]

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@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.

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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. 

[Anonymous]

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