I'm not really looking to sue, but I'm wondering if I have a case against a Loan Officer in New York.
One week before Closing, Appraisal came back at a lower rate than expected.
I noticed discrepancies on the Appraisers report and asked Loan Officer if I could order a new one. (ie. the home was two stories, report said one; report understated square footage of home.) She said it was against bank policy; however, she would look at some comparables to see if bank could help me out with the home.
Since Closing was less than a week away, I asked her to provide me several times with an update so that I could negotiate more time with Seller or work independently of bank to close deal.
Loan Officer basically ignored my emails and deadlines, even though I asked her please for just a "yes" or "no" so that I could negotiate with Seller.
Two days before closing, found a new comparable sent it to her and called asking her for an update. Finally day before Closing, Loan Officer gets back to me and says she'll have an answer the following day. She never called. I had nothing to provide the Seller and he cancelled the Contract.
Do I have a case against the Loan Officer? All of my paperwork was in order, I had even received a Commitment Letter from the bank in regards to the property. It was only her lack of response that made the Seller become aggravated that the Bank was not going to look at Comparables after she had offered to do so.
Thanks.
One week before Closing, Appraisal came back at a lower rate than expected.
I noticed discrepancies on the Appraisers report and asked Loan Officer if I could order a new one. (ie. the home was two stories, report said one; report understated square footage of home.) She said it was against bank policy; however, she would look at some comparables to see if bank could help me out with the home.
Since Closing was less than a week away, I asked her to provide me several times with an update so that I could negotiate more time with Seller or work independently of bank to close deal.
Loan Officer basically ignored my emails and deadlines, even though I asked her please for just a "yes" or "no" so that I could negotiate with Seller.
Two days before closing, found a new comparable sent it to her and called asking her for an update. Finally day before Closing, Loan Officer gets back to me and says she'll have an answer the following day. She never called. I had nothing to provide the Seller and he cancelled the Contract.
Do I have a case against the Loan Officer? All of my paperwork was in order, I had even received a Commitment Letter from the bank in regards to the property. It was only her lack of response that made the Seller become aggravated that the Bank was not going to look at Comparables after she had offered to do so.
Thanks.
