Posted by Deborah Lewellen on 12/12/11 6:50am
Msg #406322

Need your Help on this

Hi All, I've not been on here much, besides working, I'm running a German Shepherd Rescue that I started earlier this yr. and have rescued 75+ GSs so far this yr. and have gotten many adopted but have to send many north to other rescues cuz it's so horrible here.
http://www.petfinder.com/shelters/idgsr.html in case anyone is interested in seeing the work we're doing.

Here's my question, I've used a broker for a loan on a rental property last yr. and they were very good, timely, etc. then recommended them for my younger sons loan in Jan. of this yr. have recommended them on multiple occasions making them alot of money. My older son is trying to buy a home that is a foreclosure HUD house and has jumped thru hoop after hoop after hoop with this broker now and we are just over it. He originally started with BOA in Aug. but they kept jacking him around and finaly denied it, not because of credit or too much house, it's a $62, 000 house, he makes $70+ k a yr. credit is o.k. not fantastic. House needed minor repairs so Hud wanted repair estimates, their is ground rent involved in this eastern city, which will be paid off at closing and abolished.
turned over to broker in beginning of Oct. she claims she sent a GFE on 10/25/11 which we never saw. then as we are waiting and waiting and waiting, one extension after another expires, they make my son pay for the appraisal and multiple extension and now hes' spent about $3000, plus them made him go pay for homeowners policy and wanted proof of it and still no close. LO stated last week she sent to Underwriter on Wed. and by friday we'd have an answer, we told her(I've been copied on the emails) that his 3rd. extension expires Sat. (may go till today) and that we can't keep doing this. You all keep coming up with more and more and more stuff, I told her this is how you do my son? E.B.? a Veteran and a Cop? Now his 120 appraisal has expired as well on Sat. then on Fri. afternoon the president of this mortgage company sends an email stating it just went to underwriter on Fri. so LO completely lied. we have proof.
they claim it's 48-72 hrs. before UW will give an answer and we are like, right and been to UW 5-6 times supposedly, we question if it's ever gone at all. I've tried to be brief and shorten the whole story, what are your thoughts on this? I've done well over 4000+ closings over the yrs. and here these horror stories all the time, I'm just over it with these people.
thanks for your help all.

Reply by Deborah Lewellen on 12/12/11 6:53am
Msg #406323

also one more thing, LO sent over a GFE the other day, with the date of 1025/11 on it but also had 12/6/11 on it, I feel they just created this and it's backdated so to speak.
also she did a jumbo loan for my brother in the same state and it just closed last week too, he asked for GFE multiple times, LO would never send it and finally a couple days before closing she sent it,
by the way, these are both FHA loans.

Reply by MistarellaFL on 12/12/11 8:42am
Msg #406327

Deborah, backdating only refers to notarial certificates

not GFEs.
It is not uncommon to have a GFE with an earlier date on it.

Reply by Deborah Lewellen on 12/12/11 9:34am
Msg #406328

Re: Deborah, backdating only refers to notarial certificates

but the FHA rules state they have to give you a copy of it within 3 business days, they claim they sent it on 10-25 and we never recieved it, we kept asking and asking and nothing until 12/6

Reply by MistarellaFL on 12/12/11 9:52am
Msg #406329

You know they'll only say that

they emailed it, or information wasn't sufficient to complete an application.
What is it that you want to accomplish, or are you just venting?

If you want to complain about a RESPA violation:
202-708-0502
Director, Office of RESPA and Interstate Land Sales US Department of Housing and Urban Development
Room 9154
451 7th Street, SW
Washington, DC 20410

Reply by Deborah Lewellen on 12/12/11 10:08am
Msg #406330

we feel they have been dishonest in their dealings

have repeatedly asked for the GFE for 2 months, either LO won't return emails or phone calls
ignores the request, and we are looking at filing complaints.

Reply by Deborah Lewellen on 12/12/11 6:58am
Msg #406324

also, just a note, I am not involved with this broker whatsoever, I don't get a dime in referrals or anything, they've not even bothered to offer me a free dinner for all the $$$$$ I've made them, I will tell you I will never ever recommend them after this BS.

Reply by ReneeK_MI on 12/12/11 10:15am
Msg #406333

Fun, eh?

At the mercy of The System, and really no way to know where the ball's being dropped. Since L/O's don't usually actually do much but sell a product and act as a liaison (generalizing here), it might be their processing dept/person or it might be the particular lender they're dealing with. It would be totally unprofessional for an L/O to place blame - they get paid to absorb it.

HUD home, repairs ... yeah, your story sounds pretty typical. Recently a relative of mine asked my opinion about their plan to buy a HUD home w/repairs, and with a mtg. I did my best to present them with a generalized version of what you've just described.

You're pretty much over the barrel - no guarantees whatsoever that starting from scratch w/someone else would bring anything different than what you've got now.

Reply by MistarellaFL on 12/12/11 10:19am
Msg #406335

Re: Fun, eh?

I agree with Renee.
You have to first consider whether it will be beneficial to your son by starting over at square one.
Sometimes, you just have to bite the bullet and just finish the process.

Reply by Deborah Lewellen on 12/12/11 10:25am
Msg #406336

Re: Fun, eh?

no we're not starting from scratch, there are clear FHA rules violated here,
I can't speak on it at the moment, cuz their is some legal stuff were looking at
but wanted to know if there is any other recourse or you at just at their mercy and
lies.

Reply by MistarellaFL on 12/12/11 10:28am
Msg #406337

recourse = RESPA complaint n/m

Reply by Deborah Lewellen on 12/12/11 10:34am
Msg #406338

Re: recourse = RESPA complaint

ok, thanks, that is another option, just emailed this to my son,
he has connections with the AG office in his state. the thing is we
have all documentation that he sent them all the requirements within
hrs. of speaking with them, they have allowed this to go on for over 2 months,
but the lies are what totally infuriates me. When I have an LO send me the email
on Wed. that it went to UW and then 2 days later her manager said it never went on WEd. last
week, we just sent it on Fri. after 3pm.
yeah, I'm pretty torqued.

Reply by Deborah Lewellen on 12/12/11 11:09am
Msg #406342

Re: recourse = RESPA complaint

also the appraisal just expired and the 3rd extension is up,
more $$$$$, he's spent over $3000 on a house that's not even his yet,
then they keep upping the amount he needs to have at closing,
repeatedly asking for the same documentation over and over and over again.
The sheer incompetency is unbelievable, or its' that they are stalling. oh and the lock in
all ready expired. original close was 11/8/11, then 12/8/11, came and went.
the sh$$ is deep.

Reply by Linda_H/FL on 12/12/11 10:58am
Msg #406340

How about a complaint to the state agency licensing

this broker? Get her license yanked. Also, I'd file a complaint against the company that employed her.

Complaint to the state banking commission?

Just some thoughts...sounds like everyone involved dropped the ball somewhere along the way.

Reply by ReneeK_MI on 12/12/11 12:29pm
Msg #406348

Is this a property in foreclosure redemption period?

Stories abound ... but here's another one. My daughter bought a house years ago (from Seller A), put under contract during the redemption period - had like 3 mos left. There had been a sheriff's sale, and the property was purchased by Seller B. So, Seller A would be the seller UNLESS it didn't close before the date the redemption expired - in that case, the property belongs to Seller B.

RE Agent, Mtg Broker & Title co were all quite cozy - just take that on faith.

Same story - they ask for something, daughter would send it immediately, they'd say they never got it, she'd send again and call to confirm receipt, no response to voicemails or e-mails ... stall stall stall. Extend contract, update bs, set/cancel closing multiple times.

Get to bona-fide closing ... enter Seller B, who became the owner & consequential seller THAT DAY. Pure bs. Should've walked out. After so many months and so much hoop-jumping and bs, and the life-altering changes that walking out would mean ... I suppose rarely do people just walk.

I was angrier than even my daughter, took this to an attorney. It was obvious, they were all in the deal together and the stalling was to wait out the redemption period so that Seller B could make a quick buck. Surely the 'cheer' got spread around.

Attorney felt certain we'd have a solid case of multiple offenses ...and figured it would take about 20k to reach the end of that fun stuff.

So. Yeah. Recourse?

Reply by BarbaraL_CA on 12/12/11 2:03pm
Msg #406353

What ever happened to HONEST and RESPONSIBLE....

people who take ACCOUNTABILITY for what they do? I get so disgusted at the incompetency and lack of professionalism of so many people who are only "out for their own gain" and could care less about the outcome of a transaction... it infuriates me!

I'm so sorry your son is going thru this mess and that your stress level is rising quickly. This is not good and you need to file all the complaints you can file.

We are looking to move to AZ and have been looking at homes, the majority are foreclosures or short sales and we're trying to stay away from them, but there are so many!

Good luck to you and your son.

Reply by Shoshana/AZ on 12/12/11 2:35pm
Msg #406357

Re: What ever happened to HONEST and RESPONSIBLE....

They have become extinct like the dodo bird. That's the reason I quit being an LO. Too many people out there tried to screw me over and steal my business! I refuse to get into a bidding war to see how low I can go with an origination fee.

Reply by Deborah Lewellen on 12/12/11 2:41pm
Msg #406359

Re: What ever happened to HONEST and RESPONSIBLE....

Yes, what happened to honesty and integrity in all aspects of business, as former Auto Dealers, never involved in Buy here pay here, refused to go that route, we sold less cars, but at least I could sleep at night, I find the banking industry to be one of the most dishonest of all industries, next to the insurance industry. Auto Dealers abound with a huge lacking in integrity, however as Auto dealers, we were screwed over so many times by other dealers it was even funny.
My son is so stressed over all this, he works in a very dangerous city, dealing with drug dealers and really evil people, he has all his stuff in storage and staying at a friends, and this LO has got me so disgusted, her boss is in on it too and he's as bad as her. The deceit with these people turns my stomach.

Reply by NJDiva on 12/12/11 5:30pm
Msg #406372

Deborah, I feel your pain, but quite honestly...

I hear these same exact stories from b/o's ALL the time. I empathize with the borrowers, I really do. I don't doubt a single word they say. Especially, because it's repetitive (pretty weird how that works). I think even people who exaggerate aren't exaggerating when it comes to these types of dealings, but we that are in the field should be used to and expect it at this point.

It DOESN'T make it right, mind you, but I'm quite surprised that you are so affected by it knowing that this is typical and goes on every day.

That's why by the time we get to them, they want to fire off on US.

Please don't think I'm being insensitive, flip or undermining your frustration. I absolutely understand you and your son's disgust and anger, that's for sure. It makes sense. I'm just trying to understand why you find it so incredulous.

Or maybe you're just sharing your frustration and dissatisfaction because you know we'll understand?

You've certainly brought it to the right place, huh? As you yourself are a veteran NSA, there are many other longtimers that will be able to give you their experience which is why I love this site!

Thank you for sharing with us and I certainly hope that things turn out to your satisfaction.

Just food for thought-maybe it's just not meant to be. Maybe you're the lucky ones here...hmmmmmm

Reply by LKT/CA on 12/12/11 5:21pm
Msg #406370

<<<He originally started with BOA....>>> That says it ALL! A bad ending usually is the result when BOA's name is in the mix.

On the way home, a mini van had on the back of it's windshield: WORST <then under that> Bank of America....except the "of" was crossed out and "IN" was written above the "of". So the message essentially said: WORST BANK OF/IN AMERICA.

Reply by Deborah Lewellen on 12/12/11 5:50pm
Msg #406373

yes, BOA was first on this and he was dealing with the Charlotte office in Sept.
BOA tried to claim they never dealt with a ground rent issue, duh? are you kidding me?
the imbeciles were stalling and saying that was the hold up, but it wasn't, title which was a local office
told them they've closed 100+ loans in that month alone with ground rents, now abolished but none the less had to be paid off. At any rate, does anyone know what happened during Sept. with the BOA charlotte office? Since then, I think I've done 1-2 BOA closings, been super busy with other closings, but not BOA. So the bottom line is not only severe frustration with a broker who I helped them to make a lot of money with literally no financial incentive other than knowing friends and family got great deals, but the fact was that this very LO did this to my kid. he's in a very high stress job and having to deal with all this crap, and me trying to help him, and they kept jacking him around. I even told LO, do you not understand, he has to stay very focused on his job or he could get killed, it's that bad where he's at, and don't you realize the undue stress you all are putting on him when he's complied 100% with this. But the final straw was when she lied to me last week, I hold integrity and honesty as the highest of core values and this total "B" has the frickin gall to do this to someone in the industry, I know for a fact they do it to alot of people. Yes I'm not only venting, but will take this a step further, you know most people won't take the time, will just walk away and let it go, cuz it's too much trouble, yes I hear it from borrowers over and over and over again 1000s of times, and it's really a shame, cuz it shows you the level of what these brokers are capable of. Dishonesty is at the core here and that's what infuriates me. I have to take my job seriously and won't budge a speck on honesty and integrity, yet this is how they have dealt with us.

Reply by NJDiva on 12/12/11 5:54pm
Msg #406374

Amen Deborah, Amen! Good luck and Happy Holidays! n/m