Home Buying in 91786>Question Details

Javier, Home Buyer in Upland, CA

My offer was accepted with conditions...

Asked by Javier, Upland, CA Wed Jun 19, 2013

My broker got us homepath approved..seller wanted a lender of there choice to verify our Loan. So we submitted all our tax returns, proof of income, bank statements ect. There lender then went on to tell us that our broker was not experienced and that if I used his office he could seal the deal for me and put me in the home without any problem. We declined his offer, next day our offer was rejected by the seller. Two weeks later the house was relisted again, we then made another offer, by this time we had made 4 offers in this home. We finally made an offer of 409k thru Homepath. We were again sent to the same lender. He emailed us to pay 17k in personal debt, which we did the same day. We emailed the proof and waited for his approval. He then told us that he was going to decline our pre approval, because I would not use his office for the loan. What do I do now? I'm out 17k and feel my deal was ambushed by sellers lender..my agent is furious.

Help the community by answering this question:


We have an appointment tomorrow with a real estate attorney that smells extorsion..I'm out 17k with debt my broker feels did not needed to be paid off. We are awaiting a second opinion from another qualified homepath lender to make our case stronger against the agent. I'm also working on getting this reviewed by a federal agent. I strongly feel this guy ambushed my deal. My credit is very strong along with my savings.
2 votes Thank Flag Link Wed Jun 19, 2013
Please tell your agent to report the lender and the listing agent. you should have his lic. # on his email. I am tired of these lenders and cross qualifying. Most of the bank owned and even the flip houses are doing this.
I'm sorry that you might not get the house after all you went through! But we have to complain until they stop this. Good luck! You might still get the house, I pray that you and your agent find a way.
1 vote Thank Flag Link Wed Jun 19, 2013
It sounds like the lender that the listing agent was trying to get you to double app with was jerking you around. I would report the entire incident in more detail to the Bureau of Real Estate. The lender should not have had you doing these things unless your offer was accepted and you agreed to work with only that lender. It sounds like you did everything that you could. Based on your side of the story, that whole situation needs to be looked at by the Bureau to determine if anything was done unethically.

I wish you the best of luck. It is still a good time to buy. I know you will find something better.

Alex Montelongo/ Broker
Coldwell Banker Star Realty -
562-810-7387 Cell
BRE Lic#01456982
0 votes Thank Flag Link Sat Apr 11, 2015
By the way, the "Seller" is Fannie Mae or rather, an agent hired by Fannie Mae to sell their property on their behalf. You make an offer to an agent who presents the offer to the asset manager at Fannie mae and Fannie Mae approves your offer or rejects it and/or may counter your offer. Once the offer you made is accepted, you go and get financing. You have to use a lender that is approved for Homepath loans.

Are you saying the selling agent recommended a lender to you who in turn told you that they don't think the selling agent (That recommended or steered you to them) is experienced enough? Did you have your own agent for your side of the transaction.

I purchased a home using Fannie Mae's Homepath program. The selling agent presented my offer. Fannie Mae accepted my offer. I went and got a Fannie Mae Homepath loan after finding an approved Homepath lender and closed on it. It was that simple.

I think there is more to it. I think you may be misunderstanding or intermingling some of the lingo in your post. What you wrote defies logic. It SOUNDS like you got turned down for your loan for some reason related to credit or income.
0 votes Thank Flag Link Fri Jun 20, 2014
Fishy smell with the seller/lender set aside for a moment...How are you out $17K? You paid off your own debt so really, you aren't out anything that you didn't owe.

While I'm not sure what you mean by "Federal Agent to review", you should file a complaint with any local/state/federal agency that the lender or broker may be regulated by.
0 votes Thank Flag Link Fri Jun 20, 2014
Lender cannot judge if a real estate agent is experienced or not and deter you from your primary choice of agent. He also cannot decline your pre-approval because you simply won't use his company. To file a complaint with the California Bureau of Real Estate, please see link below:


Mike Hsieh
Realtor, RE/MAX Champions
Direct: (909) 770-5055
Fax: (909) 256-2111
121 S. Mountain Ave
Upland, CA 91786
BRE# 01812059
0 votes Thank Flag Link Thu Jun 19, 2014
File the complaints and focus on the legal and ethical violations (rather than the debt you paid off).
0 votes Thank Flag Link Mon Jul 8, 2013
I have to agree with my colleagues. You simply must report this because I am sure you are not alone and others have been a victim to this. You are the one that has come forward asking for advice. Best of luck to you.
0 votes Thank Flag Link Mon Jul 8, 2013
I am so sorry to hear this. How ridiculous! Please have your agent report them. All info you guys will need should be on Bureau of Real Estate's website. Don't allow them to get away with it. Good luck to you!
0 votes Thank Flag Link Mon Jul 8, 2013
This broker belongs to a local board of realtors as well as a department of realtors in your state. I encourage reporting any unethical behavior. It's unfortunate that brokers and lenders behave this way.

Good Luck,
0 votes Thank Flag Link Sat Jun 22, 2013
Hi Javier,

That's very unfortunate. Also, since homepath homes are owned by Fannie Mae, you might want to give them a call and give them the home address and tell them what's going on. Fannie Mae Resource Center at 1-800-7FANNIE.

Wishing you and your family all the best.

Caroline Barooshian
Real Estate Broker/Realtor®
DRE #01067678
Cell 909-200-9280
0 votes Thank Flag Link Thu Jun 20, 2013
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