Loan Officer / Mortgage Question?
Is it normal for bank loan officer not to return your calls or e-mails? I recently contacted a loan officer and she responded repeatedly at first, but after I changed my mind on the home, she went silent. She's the VP of the bank so I figure maybe my loan was "peanuts" for her VP status. So I call another bank and was approved. The guy told me he would name me on last Monday, but after no response, I called and scholarly he was on vacation! He sent an e-mail apologizing and said he'd phone up me Monday. It's now Tuesday and still no response. I have a builder waiting for me to respond, but I can't stall him much longer. Should I find on the other hand another loan officer? I know these people are busy, but is this normal?
Answers:
There is probably a cause that can't do your loan & are chicken to face you to let you know. I am sorry that you be mixed up with the wrong people. Move on, and tolerate your new loan officer what you expect! I return all call within 24 hours, but mostly same day.
usually they get compensated on commission so are hungry for work.
maybe call your TRUE estate broker and see if he can get on their case (they are sources of referral to the loan officers).
and, if you are approved, you should be getting a letter indicating that you have the credit extended.
In this souk, no LO can afford to turn away clients. Here a couple of thoughts.
Most LOs claim to be higher ranking int he firm then they truly are. your VP may be someone who's been in the industry for 2 weeks and almost not knows how to read a rate sheet (I wish I be joking about this). Every single Lo within my company claims to be a very experienced senior Lo or team commander, even the guys who have just started. I detestation that crap, but that's sales (I'm operations, not sales).
If they aren't calling you fund, the way business is now, they probably own a reason for not doing so. You may not qualify for some reason, and they lately don't care enough to supply you the courtesy of calling you back. Every borrower that get's called is told they are "pre-approved" until their credit and income is in fact checked.
It's a sales game. You're best bet is to find a local guard or broker that you can trust and get the real story. Try not to matter with mortgage people you just ever speak to over the phone. You never really know who you are getting. make sure you get their company term and info so you can do your own due diligence. Source(s): If you want, email me and I will have someone contact you and discuss your situation. I promise that they will at least give the name you back.
I am a mortgage broker, and return call promptly. Feel free to email me, if you are interested.
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Answers:
There is probably a cause that can't do your loan & are chicken to face you to let you know. I am sorry that you be mixed up with the wrong people. Move on, and tolerate your new loan officer what you expect! I return all call within 24 hours, but mostly same day.
usually they get compensated on commission so are hungry for work.
maybe call your TRUE estate broker and see if he can get on their case (they are sources of referral to the loan officers).
and, if you are approved, you should be getting a letter indicating that you have the credit extended.
In this souk, no LO can afford to turn away clients. Here a couple of thoughts.
Most LOs claim to be higher ranking int he firm then they truly are. your VP may be someone who's been in the industry for 2 weeks and almost not knows how to read a rate sheet (I wish I be joking about this). Every single Lo within my company claims to be a very experienced senior Lo or team commander, even the guys who have just started. I detestation that crap, but that's sales (I'm operations, not sales).
If they aren't calling you fund, the way business is now, they probably own a reason for not doing so. You may not qualify for some reason, and they lately don't care enough to supply you the courtesy of calling you back. Every borrower that get's called is told they are "pre-approved" until their credit and income is in fact checked.
It's a sales game. You're best bet is to find a local guard or broker that you can trust and get the real story. Try not to matter with mortgage people you just ever speak to over the phone. You never really know who you are getting. make sure you get their company term and info so you can do your own due diligence. Source(s): If you want, email me and I will have someone contact you and discuss your situation. I promise that they will at least give the name you back.
I am a mortgage broker, and return call promptly. Feel free to email me, if you are interested.
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