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Old 09-27-2019, 06:39 AM
216 posts, read 108,877 times
Reputation: 509


I really hope this information will help someone else who might face what I just went through on getting a MHDC home loan. Remember the expression, "dont take no for an answer"??? This saying applied 100% to my situation with the loan officer. After weeks of appraisals and inspections and negotiations, at the very last minute days before closing, the loan officer calls late in the day and says..."so, sorry but they denied your loan". This is after weeks of me calling and checking in with her, asking status of the qualification process & being assured by her that everything looks great. The night she phone something seemed so off- and worse than that, she would not return my call after she dropped that bomb on me. I got curious and I got angry and I called her boss the next morning. Guess what he told me??? She never bothered getting work verification on my first job and therefore the underwriters said I did not have enough work history. The loan officer had allowed the verification form to just sit in my file for 5 weeks. Then she turned in my paperwork to the underwriter without ever getting it done. This is just plain stupid and speaks of the worst kind of negligence. I believe her boss had her call and leave a message apologizing to me but who would trust anyone after that? After her boss discovered the missing paperwork, I called and spoke with my former employer and they literally faxed the form within a few hours. The loan officer would have killed my loan and home deal if I had not gone above her head and investigated. Dont ever, ever, ever take their word for anything! Double check and triple check and make sure someone else verifies whats going on. Yes, underwriters do deny at the last minute - we know this. But make sure your loan officer is doing their job and submitting all qualifying paperwork to begin with. And just because they say they did - doesnt always mean its true!
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