Home Buying in Brandon>Question Details

Dana, Home Buyer in Brandon, FL

What do you do when your loan agent will not return phone calls??

Asked by Dana, Brandon, FL Mon Aug 11, 2008

I have applied for a pre-approved home loan thru a national, well-known and respected company. That was over three weeks ago, and I cannot get the loan agent to call me back for a status! I have called the corporate office, but because it was a local application, they don't have any information on it until it actually becomes a loan. I am a first time homebuyer and have no idea how to handle this! Help!

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That happens when there is a problem with the loan. They see its you via caller id and refuse to answer the call or return your calls. Its typical in the loan industry
0 votes Thank Flag Link Mon Jun 23, 2014
credit unions have great rates If you have a child in the hillsborough county school system contact suncoast federal
0 votes Thank Flag Link Sun Sep 28, 2008
Credit Unions offer some unbeatable mortgage deals. If you want to learn more about the process, I recommend visiting: http://www.mtgprofessor.com

Good luck in your search.
0 votes Thank Flag Link Fri Aug 15, 2008
Some resolution to this ridiculousness...I tried every way possible to contact my loan officer, but was unsuccessful. I had an office number, which never got answered. I had his direct line, which I have left (to date) 4 messages on over the last three weeks, and I have his cell phone number, which I have left 3 messages on. I also tried his e-mail, no response (twice) and his corporate office, who couldn't get in touch with him either, so they sent an e-mail on my behalf. Nothing. I did what I should have done in the first place, went through my credit union. They actually have a member advocate to match me with a real estate agent (I replaced him as well, for the same reasons, plus he recommended the loan officer) that fits ME, and a loan officer to help me find the right loan. My member advocate will be with me through the entire process, making sure I get the information and communication I need. My thanks to those who responded, here's to a better experience!
0 votes Thank Flag Link Thu Aug 14, 2008
Just show up at their office. They wont be able to avoid you then.
Web Reference: http://GetPrequalified.com
0 votes Thank Flag Link Wed Aug 13, 2008
Dana,

I think that you will definitely have a great comparison point, based on your first exposure to the real estate industry as a first time homebuyer. What I mean is, you have already had a really bad experience but, there are so many great professionals in our industry, you simply need to know where to turn and who to trust to find the really great ones!

Great real estate agents surround themselves with an excellent network of professionals that span any need that may arise for their clients in the pursuit of their largest investment....their home! Please contact me at http://Www.TampaHomeWiz.com, and I will help you get in touch with the best in the industry, and get you back on the right track, with a positive home buying experience!

Brian Russell
"Uncompromising Excellence in Real Estate Service"
Keller Williams South Tampa
http://Www.TampaHomeWiz.com
(813) 875-3700 ext 288
Web Reference: http://tampahomewiz.com
0 votes Thank Flag Link Wed Aug 13, 2008
Finding good mortgage professional is key to a successful closing but more importantly to getting the right mortgage for you. I always recommend using a local person and it appears that you did. While I have no way of knowing “how” found the person you are working with here are my recommendations.

The best ways is to ask your family and friends whom they used and whether they were happy with that person and would they use them again? Even if you get referred to a mortgage planner by a friend, be sure to be proactive in the questions you ask him or her and don’t simply let the person dictate what is best for you. Remember, a mortgage is most likely the largest financial decision you will ever make. Even if you are dealing with your local bank, you need to ensure the person you are dealing with is knowledgeable on all facets and not just there to take your order. Your financial well being depends on it.

Once you decide to go with a particular mortgage planner make sure he is able to provide you with a reason why you should or should not be in the program he is recommending to you. He should be able to offer you several options and a mortgage plan to accomplish your financial goals. Don’t let him just push a mortgage on you.

Remember this should be a collaborative effort in choosing the right program for your needs. If he does not have the time to dedicate to you, thank him and look elsewhere. However, be mindful that his or her time is equally important and don’t waste it. Think long term and be decent: If you have a good meeting and if you are satisfied with her expertise, engage her services for your mortgage. Don’t take all of the time, expertise and information she has provided you and then go somewhere else because you can get the program you decided ― with her help — was right for you, from another seller for a ⅛ or a ¼ of a point cheaper. That is not right and chances are if you switch to another person without researching him, you could be in for a bumpy ride. Over the years we have had several clients call us back after going with another lender only to find out that what the other lender said they could do ended up not panning out.

So as you are trying to find a quality planner to rely on, use these questions to see if they are qualified:

1. Is this your full-time or part-time job?
2. How long have you been in the mortgage business?
3. How do you get most of your clients?
4. Do you have any information I can read about your background and experience?

You should also Google the mortgage planner’s name and company to see what you uncover. If good stuff comes up, then proceed. If bad information pops up, then I suggest that you look for another planner. If no information then you have a decision to make.

Now, when you ask the above questions, the planner doesn’t have to come through with shinning results on every question. These questions are simply provided to give you a basis to form an opinion. People can be brand new to the industry but based on their former background can be very knowledgeable. Likewise, some can have 15 years in the business and only be an order taker and offer no planning advice.

This is an except from my book and while I do go deeper there I think you get the point. I wish you the best of luck finding a new person to work with you in realizing your dream of homeownership.
Regards,
Dave
0 votes Thank Flag Link Mon Aug 11, 2008
This is the first sign of a bad lender...even if you have to have your credit pulled again it will be worth it to find a reputable lender who will stay in contact with you during the entire escrow process. As an agent I can tell you lenders that don't work diligently can blow the entire escrow right up until the last day before closing and that would hurt much worse, after you have paid for inspections and an appraisal, than just having a couple points knocked off of your credit. For more real estate information you can visit our blog at http://www.bloggingredding.com
0 votes Thank Flag Link Mon Aug 11, 2008
Dana,

I understand your concern having your credit pulled again, but don't let that stop you from getting another lender. Unfortunately, the lender may not be calling you back because you don't qualify, but that is not professional and most lenders can tell you what you need to do to become qualified.

If your realtor can't recommend another lender or he/she can't get in touch with the lender, I agree with you, start over with new representation on all ends.
0 votes Thank Flag Link Mon Aug 11, 2008
Dana, if your loan officer will not return your calls now then just think what it might be like when you put your loan in process. My clients have my office and my cell phone number because this is a very important purchase and I want them to always be able to get in touch with me. I think you should contact another lender. Interview loan officers - ask them how quickly they return calls, if they are available after work hours, and ask them for a cell phone number. You shouldn't have to call the corporate office to find out about your pre-approval. With today's technology, you should know within 30 minutes if you are approved for a mortgage. I will be more than happy to help you if you can't find a loan officer. Good Luck, April
0 votes Thank Flag Link Mon Aug 11, 2008
Dana,

This is grounds for finding a new company to do business with........prior to this, we suggest contacting the office manager to explain your concern. Give them the courtesy of this so they can make an attempt to fix the problem.

Good luck,
The "Eckler Team"
0 votes Thank Flag Link Mon Aug 11, 2008
Get a new bank! Lending is a competitive business. As a consumer I would recommend you shop around for a loan. As a first time homebuyer you are the consumer and in the current market place both your realtor and loan officer should be chomping at the bit for your business.
0 votes Thank Flag Link Mon Aug 11, 2008
Your real estate agent that referred the loan officer should be able to provide you with several other professionals that they have dealt with in the past. In this dynamic market, something may have changed, and the WellsFargo loan officer may not even be working for Wells Fargo anymore...a lot of loan officers are finding the need to look for new occupations these days.

Open communication is one of the most important aspects of providing quality service. If your loan officer (or your Realtor) are not providing the level of communication you want, then, as several others have suggested, find another professional that is willing to serve your needs.
0 votes Thank Flag Link Mon Aug 11, 2008
Get another loan officer! Three weeks in todays market is much too long to wait for status on loan application.
0 votes Thank Flag Link Mon Aug 11, 2008
BTW, the lender is WellsFargo and the real estate agent actually recommended this particular loan agent. I'm thinking I'll be looking for better representation on both ends..When 'pulling my file' or getting a new lender, won't I be hurting my credit by having more than one company pulling the information? Is there a way to get around the damager this lender could cause by simply taking my information and not calling me back? How do I pull my file if I can't get a response? My credit isn't fantastic as it is, I don't want to damage it more! On another note, is there a Lender (and a Buyers Agent as well) out there in the Brandon, Florida area that would be willing to work with me? I'm looking primarily at bank-owned, foreclosures, short sales, etc., although I am not against other purchases. As a first experience with both home-buying and any lending agents, this has been bottom of the barrel so far.
0 votes Thank Flag Link Mon Aug 11, 2008
Fire them! There are many great mortgage brokers out there, and, many bad ones! It's a highly competitive field, and if they can't give you the time of day, move on. Check credentials, and how long they have been in business. Typically only the best stay in business during the tough times. Good luck!
0 votes Thank Flag Link Mon Aug 11, 2008
Dana,

Sorry you are having that problem, but it's one I've heard before.

Get a new lender!

Good luck!
0 votes Thank Flag Link Mon Aug 11, 2008
Call your Realtor, they want to help make your transaction go as smoothly as Possible! And obtaining a loan is a huge part of that! If your Realtor can't get a hold of your lender, ask your Realtor who they recommend - it may be time to move on!
0 votes Thank Flag Link Mon Aug 11, 2008
I am a loan officer and realtor I cant imagine, refuse work with loan officer PERHAPS the person no longer employeed with National. Contact local office request for manager. Loan officer are paid at closing who would not want to return calls. !
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0 votes Thank Flag Link Mon Aug 11, 2008
Get another loan officer. There are plenty of hungry ones out there that would give you great service and will return your calls promptly. It will not hurt you to pull your file and go to another lender as long as you have some time before closing. Maybe your Realtor can make a recommendation?
0 votes Thank Flag Link Mon Aug 11, 2008
no excuses for the delay on his part.....why not call me..i'll be glad to help you.bob mcclure- mortgage now- farmington, michigan...my direct cell number is (248) 974-4444.i am licensed in your state and 18 others...i can also close you in your own backyard.best regards.....
0 votes Thank Flag Link Mon Aug 11, 2008
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