Posted by John Behle on October 14, 1998 at 23:53:46:
I don’t think my lender can help you in your state, but you should have a right to your file. I’ve been on both sides of that. I have had to march in and demand a file from a “sorry” lender and I have had other loan officers march in and grab files at our company because we would not make promises we couldn’t keep (we could have closed two days later - but couldn’t promise it). So you may be able to get that file - or at least most of it.
Many good lenders are tied in for approval within one hour of submitting a loan electronically by their computer. They can take the existing file, re-type the data in an hour and submit it and possibly close in a day or two. Look around. There are a lot of lousy lenders out there, but there are good ones too.
Call the department of financial insitutions to find out about getting your file and also to put pressure on the lender. A call from them can rattle the lender like little else.
I had it out with my sorry lenders yesterday, and now they refuse to return my calls. They promised they would call today with a date when they would have the documents to the closing agent, and they knew I was waiting for their call. HUD has been trying to reach them all day, too (they emailed me), and the lenders won’t return their calls either. I think this thing has been so mismanaged that they are trying to hide, even from the government.
I’m going to have to file charges, and I need legal advice. Anyone have a good reference? ( I’m not making a move without a reference again!)
Thanks to all of you who responded with suggestions of lenders. I was told by most, that because HUD is taking a week to process the documents, there wasn’t enough time. I will still keep trying.