Dkokorus
New Member
I read negligence and incompetence however I would like a second opinion if you can spare the time. Also I would be suing the brokerage not the loan officer as he probably is covered under the company's umbrella?
I was pre approved from a mortgage brokerage in colorado. I put down my earnest money of $2,000 dollars and had a closing 4 weeks from the acceptance. I went into the office the day before our deadline to cancel the loan ( before I would loose my earnest money) to check if everything was ok.
They said "yes" we are CTC. The day of closing they came up with 3 conditions from underwriting.
We then offered to extend and I put down an additional $250.00. Broker recommended 10 days they needed a co signer. I provided a co- signer in a timely fashion. Underwriting came back again and said the way the lender structured the loan ( can't have two brothers in a 1 bedroom condo) . We again missed our deadline. They asked for an additional 5% down and a 3rd extension (additional $750.00). This time the said with confidence we will get it closed and apologized for all these problems. Final extension ( Why not, $1000 extension, We solved all conditions but they needed processing time)........Again we missed closing due to more conditions coming up the day before closing.......seller pulls out I loose my earnest money. I do have all the texts and emails from all parties. Testimonials from my realtor on the un professionalism and an employee that worked with my loan officer who said he was an alcoholic and got admitted into rehab 4 times ( didn't know if that would help my case)
Thank you
I was pre approved from a mortgage brokerage in colorado. I put down my earnest money of $2,000 dollars and had a closing 4 weeks from the acceptance. I went into the office the day before our deadline to cancel the loan ( before I would loose my earnest money) to check if everything was ok.
They said "yes" we are CTC. The day of closing they came up with 3 conditions from underwriting.
We then offered to extend and I put down an additional $250.00. Broker recommended 10 days they needed a co signer. I provided a co- signer in a timely fashion. Underwriting came back again and said the way the lender structured the loan ( can't have two brothers in a 1 bedroom condo) . We again missed our deadline. They asked for an additional 5% down and a 3rd extension (additional $750.00). This time the said with confidence we will get it closed and apologized for all these problems. Final extension ( Why not, $1000 extension, We solved all conditions but they needed processing time)........Again we missed closing due to more conditions coming up the day before closing.......seller pulls out I loose my earnest money. I do have all the texts and emails from all parties. Testimonials from my realtor on the un professionalism and an employee that worked with my loan officer who said he was an alcoholic and got admitted into rehab 4 times ( didn't know if that would help my case)
Thank you