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How to handle unprofessional obnoxious mortgage broker

 
 
Linkat
 
Reply Fri 6 Jul, 2012 12:01 pm
We are just rounding out the final process to complete our mortgage and close on our new home. What started out as a very accommodating, friendly mortgage broker has changed completely as we are reaching our final days to complete our mortgage.

We were receiving many minute requests from the broker and underwriter. No problem – my husband and I divided and conquered and responded quickly to any final request for additional information. In one situation, the broker forwarded an email from the underwriting detailing out what was missing and what needed to be gathered by a certain date. In one case in particular, the underwriter reached out directly to us to get some data.

So, there was one item that we were not directly responsible for getting – it was supposed to be sent via a third party directly to the broker. My husband followed up with the broker to ask if he received it and to see if he could assist if the broker had a contact name. The broker flipped out at my husband. He told him, he was harassing him; that he was taking time away from his other clients. The broker also said do not send items directly to the underwriter, they are to go to him.

Then why the heck is he forwarding her emails saying she needed this information the next by 2pm in order for our close to occur on time and why is directly emailing us?

As the close is early next week, hubby asked to email him to make sure everything is line for the close as scheduled. I am assuming at request of our realtor and/or lawyer or perhaps the sellers as I was asked to include the realtor and lawyer as a cc. I think he wanted me to do due to the response he got the other day.

His response although not directly rude – was very short and abrupt and obvious he didn’t want us reaching out to him.

Is there some suggested recourse we should pursue (after our close of course) as he really is not handling this professionally or appropriately.
 
DrewDad
 
  2  
Reply Fri 6 Jul, 2012 12:18 pm
@Linkat,
Just stay calm and professional, but make sure they're doing what they're supposed to be doing.

There is no penalty to the mortgage broker if you miss the closing date; he has no skin in the game.
Linkat
 
  1  
Reply Fri 6 Jul, 2012 12:22 pm
@DrewDad,
exactly - that is why I am trying not to ruffle feathers - the problem being we need to make sure everything is there and they have everything at this point or close won't happen. Why my husband asked me to follow up as he seemed to cause this broker to get all bent outta shape.

I've never had such an issue before.

I think what I am considering is - some type of follow up later....is there a way to find out his boss? Of course after everything is settled down.
ehBeth
 
  1  
Reply Fri 6 Jul, 2012 12:25 pm
@Linkat,
Do they have to be part of a professional organization in your jurisdiction? do they have to be licensed?

Here, complaints go to the licensing body.
Linkat
 
  1  
Reply Fri 6 Jul, 2012 12:33 pm
@ehBeth,
I did look up his liscencing number - but all that gave me was his name and the fact that he is liscenced.

From appearances he hasn't done anything "wrong" - he just has been a jerk. We got him via my prior workplace as they provided some discounted services between a few mortgage companies. We choose him over the others because when we were shopping, he was very accomodating, on top of things and seemed to have good experience with the type of mortgage we were persuing.

I was thinking if there was a way I could get his boss contact without going through him. I may also speak with my previous employer as that is where we got the company's contact information.
0 Replies
 
Cycloptichorn
 
  1  
Reply Fri 6 Jul, 2012 12:36 pm
@Linkat,
Keep in mind that the broker only really makes money if he fucks you over. If you got an interest rate from him that's actually competitive, he's making far less off of your transaction than he is the rubes he's screwing out of percentage points of their house, because brokers get to keep the difference.

Cycloptichorn
Linkat
 
  1  
Reply Fri 6 Jul, 2012 12:47 pm
@Cycloptichorn,
and with the low interest rates currently there is little wiggle room.
0 Replies
 
nqyringmind
 
  1  
Reply Fri 6 Jul, 2012 12:51 pm
@Linkat,
Considering current market conditions, I doubt very seriously that he is so busy that a call or two is imposing on his time with other clients.
The company he works for may also have an NMLS number. You may find information on his boss via a company search of the NMLS data.
If you want to provide a link to the company website, I can find that information for you.
You might also search for agencies and online networking platforms local to you that provide consumer advocacy specifically for residential real estate.
Linkat
 
  1  
Reply Fri 6 Jul, 2012 01:04 pm
@nqyringmind,
thanks- I may pm you with that. The thing is he is out of state - obvious he must have a state liscence for our state. Not sure of the industry - from what my husband told me, he doesn't directly work for the bank/company. Tough to tell as his email has the name of the bank/mortgage company.
nqyringmind
 
  1  
Reply Fri 6 Jul, 2012 01:21 pm
@Linkat,
He has to be licensed to do business in your state.
Often times, brokers work with multiple lending institutions and private lenders
but have favorites.
If the email he is using includes a bank name, that makes it easy to find info.
0 Replies
 
Butrflynet
 
  1  
Reply Fri 6 Jul, 2012 01:32 pm
@Linkat,
Are you doing the closing at a title/escrow company?

If so, have your real estate agent call the escrow officer's assistant to ask if the escrow file has everything needed for the close, and if not, what else is needed.

When you have that information, send a copy of it via email to your mortgage broker and highlight the items he is responsible for ensuring are there for the close.
Linkat
 
  1  
Reply Fri 6 Jul, 2012 02:01 pm
@Butrflynet,
We are actually closing at the registry of deeds. My realtor is the anti-mortgage broker. He has been fantastic and is actually doing all the follow up work. He has reached out to the attorney for us and I've just received another email from him requesting the attorney's paralegal to set up everything.

The attorney had responded that this bozo (broker guy) emailed everyone and they are not ready to clear to close. (all we requested was whether they had everything to clear to close).

Bozo had responded to my email basically saying they will let us know today or Monday - close is supposed to be early Tuesday.

My request was simply "Dear Bozo: Please let us know if you have everything you need for our clear to close. Thank you."

Bozo response - no Dear - just "Underwriter will review all items that were received by our office on Tuesday afternoon, assuming that all items provided are complete, she should be able to issue the "clear to close" later this afternoon or early on Monday for a Tuesday closing. As soon as I am provided with notification that file has been signed off, I will advise."

Well how the h*ll are we supposed to know if underwriter has everything? We did send everything, we just want confirmation so we can close as scheduled. Not only would it screw as - as over the next 4 nights we need to stay in a hotel, but it would screw the sellers as they are closing for their purchase the same afternoon and their seller on their side.
DrewDad
 
  1  
Reply Fri 6 Jul, 2012 04:24 pm
@Linkat,
If the sellers are buying something contingent on this sale, then their real estate agent or broker should be on top of your mortgage guy to make sure everything is getting done properly.

He's probably getting it from all sides, but it's his own fault for not being forthcoming and/or reassuring.
Linkat
 
  1  
Reply Sat 7 Jul, 2012 12:57 pm
@DrewDad,
Funny Drewdad - the sellers or rather one of them is the real estate agent.

Well so it goes on. At 6:50 last night we get an email from bozo. He says he just heard back from the underwriter a few minutes ago - not sure if he was telling the truth as the list from the underwriter was only copied from the Re: line downward.

Any way they are asking for a couple more items from us - one I can get first thing on Monday morning; the other though is a change to our home insurnace which involves another company - who the heck can we get 7pm at night as bozo said they needed this information first thing Mon morning to close on time.

The other stuff is their responsibility to clear up, but they also need to have it first thing on Mon.

No apoligy for being so late, no we will try everything in our power to resolve our side of things. Just we should consider moving two days out. Now bozo knows we have a temporary situation where we were forced to move to a hotel for a few days. He knows the seller is involved and almost casually is insisting we move this out 2 days.

I call the general mortgage number and get someone - I tell my story and she looks up bozo's boss' contact info. She was very helpful and sent him an email telling me they all have blackberries and are very responsive so I should hear back tonight or tomorrow.
Linkat
 
  2  
Reply Sat 7 Jul, 2012 01:01 pm
@Linkat,
To go on - I did not have a call by 10:00 this morning so I sent an email detailing things to bozo's boss.

About 10 minutes later I get a call. Long story short - boss is going to address on Monday morning. He is going to lead this and work with the underwriter to try to get this closed out. I told him that is all I want - I will work on my side. He did say that bozo did tell boss we have been from the customer side very responsive and so forth.

When boss apoligzed - I said thank you. It is nice to hear as I've not heard this once from bozo. He said that isn't right - not sure if it will be all resolved, but at least I heard from some one.
Linkat
 
  5  
Reply Wed 11 Jul, 2012 08:27 am
@Linkat,
So we did get it settled and moved in (some what) - although not smooth. We were supposed to close in the morning and for some dumb reason, the lawyer didn't have all the stuff - my guess is the mortgage company didn't send it to them so we ended up doing it.

We ended up closing several hours later - the poor sellers were concerned because if they were not at their new place at a certain time, the movers would charge them extra time or whatever.

But the kids are really happy. My youngest already has a new best friend across the street and my older daughter also made friends with a girl going into the same grade as her.

They went swimming in a neighbors pool with the local kids and were out playing and running around the neighborhood. They are so happy they moved.

The dog enjoyed it too and made friends with the two other local dogs. All slept well and are happy even without their rooms ready.

And we are near penniless now - or at least it feels so.
CalamityJane
 
  1  
Reply Wed 11 Jul, 2012 09:31 am
@Linkat,
aawww that's so good to hear, Linkat! After the neighbor from hell, you so deserve to have a happy home and happy kids - even the dog is happy! Congratulations on your new home!

-------

As for Bozo, use the internet as your friend, spread the word that this Bozo is not to be trusted and potential buyers/sellers should be aware of dealing with Bozo.
Remember the youtube video the guy made when American Airlines lost his music instrument and didn't want to reimburse him? He went online and had a huge response - including AA reimbursing him generously.
Joe Nation
 
  1  
Reply Wed 11 Jul, 2012 10:09 am
@CalamityJane,
You mean United Airlines.

http://www.youtube.com/watch?v=5YGc4zOqozo

Joe(Not that I ♥ AA..... .)Nation
ehBeth
 
  1  
Reply Wed 11 Jul, 2012 10:13 am
@Linkat,
Children and dog are happy - that counts for a lot!

Glad to hear that you've moved and are getting settled.
0 Replies
 
sozobe
 
  1  
Reply Wed 11 Jul, 2012 10:53 am
@Linkat,
Fantastic about new friends and settling in!
0 Replies
 
 

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