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Mortgage Officer Not Responding

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Established Member

Mortgage Officer Not Responding

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.
5/11/19 EXP 646 TU 636 EQ 634
4/29/19 EXP 639 TU 629 EQ 634
4/15/19 EXP 592 TU 586 EQ 605
6/6/16 CCT: EXP 580 TU 603 | EQ 590
5/26/16 CCT: EXP 580 | TU 603 | EQ 579
4/30/16 EXP 530 | TU 559 | EQ 567
Goal: 700

Wallet - Cap1 $750 | WF $300 | Merrick $1100
13 REPLIES 13
Moderator Emeritus

Re: Mortgage Officer Not Responding

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



        
Message 2 of 14
Established Member

Re: Mortgage Officer Not Responding

2 weeks
5/11/19 EXP 646 TU 636 EQ 634
4/29/19 EXP 639 TU 629 EQ 634
4/15/19 EXP 592 TU 586 EQ 605
6/6/16 CCT: EXP 580 TU 603 | EQ 590
5/26/16 CCT: EXP 580 | TU 603 | EQ 579
4/30/16 EXP 530 | TU 559 | EQ 567
Goal: 700

Wallet - Cap1 $750 | WF $300 | Merrick $1100
Message 3 of 14
Valued Contributor

Re: Mortgage Officer Not Responding


@Raisethescore926 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.

VA Mortgage Expert. Mortgage Banker lending in All 50 States.
VA, FHA, USDA. Jumbo, Conventional.
CAIVRS Expert.
Message 4 of 14
Established Member

Re: Mortgage Officer Not Responding

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.
5/11/19 EXP 646 TU 636 EQ 634
4/29/19 EXP 639 TU 629 EQ 634
4/15/19 EXP 592 TU 586 EQ 605
6/6/16 CCT: EXP 580 TU 603 | EQ 590
5/26/16 CCT: EXP 580 | TU 603 | EQ 579
4/30/16 EXP 530 | TU 559 | EQ 567
Goal: 700

Wallet - Cap1 $750 | WF $300 | Merrick $1100
Message 5 of 14
Highlighted
Frequent Contributor

Re: Mortgage Officer Not Responding

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.
Rebuilding my credit. From low-mid 500s to 700s in two years!
Message 6 of 14
Established Member

Re: Mortgage Officer Not Responding

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!

5/11/19 EXP 646 TU 636 EQ 634
4/29/19 EXP 639 TU 629 EQ 634
4/15/19 EXP 592 TU 586 EQ 605
6/6/16 CCT: EXP 580 TU 603 | EQ 590
5/26/16 CCT: EXP 580 | TU 603 | EQ 579
4/30/16 EXP 530 | TU 559 | EQ 567
Goal: 700

Wallet - Cap1 $750 | WF $300 | Merrick $1100
Message 7 of 14
Valued Contributor

Re: Mortgage Officer Not Responding


@Raisethescore926 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.

 

VA Mortgage Expert. Mortgage Banker lending in All 50 States.
VA, FHA, USDA. Jumbo, Conventional.
CAIVRS Expert.
Message 8 of 14
Community Leader
Senior Contributor

Re: Mortgage Officer Not Responding


@Raisethescore926 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. 

GOALS: Garden til DEC 2020 and 800 Club



Scores
JUN 2019: EX 788, TU 794, EQ 779
APR 2019: EX 787, TU 789, EQ 781
JAN 2019: EX 794, TU 783, EQ 801
DEC 2018: EX 777, TU 783, EQ 799

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Message 9 of 14
Established Member

Re: Mortgage Officer Not Responding

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

5/11/19 EXP 646 TU 636 EQ 634
4/29/19 EXP 639 TU 629 EQ 634
4/15/19 EXP 592 TU 586 EQ 605
6/6/16 CCT: EXP 580 TU 603 | EQ 590
5/26/16 CCT: EXP 580 | TU 603 | EQ 579
4/30/16 EXP 530 | TU 559 | EQ 567
Goal: 700

Wallet - Cap1 $750 | WF $300 | Merrick $1100
Message 10 of 14