Is my loan officer avoiding me or is this just normal?

Asked by zorger, Greenville, SC Thu Apr 11, 2013

my loan officer sent me an e-mail yesterday morning stating that my credit is good; however, she thinks I might have to take my name off of 2 authorized user accounts in order to make my fico score legit. My middle fico score is 699. She asked for 3 other references of credit & proof of income and so forth. I immediately e-mailed her back with copies of documents regarding other bills I pay such as: utilities and rent. I, also, asked her to please respond as soon as possible about what to do about the AU accounts because I was concerned. Well, she never e-mailed me back and this morning I left her a message to please call me but I have not heard from her. Before I submitted my application for the pre-approval she was more than helpful and I always got a prompt response. Is this normal that she has not responded yet? Could it be that she is trying to work out a way to give me a pre-approval or is she just ignoring me? She said the whole approval process would only take 24 hours.

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Robert Robbins’ answer
Robert Robbi…, , Atlanta, GA
Fri Apr 12, 2013
There are no excuses for lack of communication, even if it is to say nothing has changed. They should inform you of times where they might need to work on something awhile before they can give you an update. This all falls in setting the right Expectaions from each other. If they are doing this at the outset, what will it be like when it gets tough. You can call management, but know that it may not improve anything. besides nothing says you did a poor job like I'm not Paying you. letting a company that let you down still do the work allows that loan officer to still get paid.

When a waiter is horrible, i don't bother to complain. the management is really to blame for highering them. I will leave and never return for service in the future. Their are thousands of places that want my business. As an employee, doesn't someone represent the image of their company. Management is supposed to higher the best people to exemplify the standards of their company not just warm bodies.

I'm not saying people don't make mistakes or have an off day, but if it is at your costs you may want to look elsewhere.

Now on to your credit.

My guess is she didn't look close enough at your credit to see you Don't have enough Trade lines in your own name. the Lenders want customers to have at least 3 lines of credit minimum of a 1000$ on at least 1 of them all open for at least a year. If you don't have this they may allow for 'Alternative Credit' to be used instead. This is only allowable on FHA tyypes of mortgage.

I hope this helps, call for more information,

Rob Robbins
Senior Mortgage Consultant
Cornerstone Mortgage Group
6151 Powers Ferry Road NW
Suite 610 Atlanta GA 30339
Office 678-578-7613
Cell 404-932-5353
rrobbins@cmghl.com
0 votes
It is "hire", "hiring" not "higher" or "highering."
Flag Wed Feb 4, 2015
, ,
Thu Apr 11, 2013
Authorized user accounts don't affect credit unless A) the account is not bring paid B) the payment affects your income to qualify. If your credit is limited, A) She misspoke her ability to be able to do the loan in which case ask to speak to the processor or manager. B) loan officer doesn't communicate very well, a huge issue with loan officers, so call the manager. There's no excuse for not getting back to you. It's like being put on hold on the phone for 5 minutes. If she doesn't want your business, find some one else. If I'm too busy to take a deal, I'll pass the loan to someone else in the Office.
0 votes
Maria Gilda…, Agent, Manchester, CT
Thu Apr 11, 2013
Sometimes, there are extenuating circumstances when a loan officer or any other professionals can't respond within 24 hours. There must be a reason why she has not returned your call yet or responded to your email.

Try to contact her again. However, if it takes more than four attempts to reach out, I will consider this as unacceptable unless of course there is a valid reason behind it.

Best of luck
0 votes
Four attempts?!! One should be enough!
Flag Mon Dec 15, 2014
Siobhan Scha…, Agent, Roswell, GA
Thu Apr 11, 2013
I work with Karen Chartier with Fairway Mortgage and she is great. Give her a call and do some comparison shopping!
You can reach her at (770) 317-5739.
0 votes
zorger, Home Buyer, Greenville, SC
Thu Apr 11, 2013
Thank you all for your responses, and "yes" I am in panic mode. I guess I just need to relax, but she has me concerned about the AU accounts now. I will give it some time and try to be patient. It wouldn't hurt to have some recommended lenders in the Roswell area just in case though. I am trying to do the GA Dream down payment assistance program.
0 votes
In the meantime, you can remove your name as an authorized user. It can always be added later.
Flag Thu Apr 11, 2013
, ,
Thu Apr 11, 2013
We are all quite busy right now. Immediate responses to complicated questions/situations are not always possible. On top of your Pre-Qualifcaiton request , the Loan Officer is dealing with several other borrowers as well. In additon to that, there are the Buyers currently under contract that typically get first priority for time since they have a defined closing date that has to be met.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia with over a decade of mortgage lending experience.

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing.
0 votes
Cassandra M.…, Agent, Canton, GA
Thu Apr 11, 2013
There could be any number of reasons for the delay.

We all have some days that are busier than others. As a REALTOR there are days when Im with back to back clients out of the office and slow in getting back to my clients. This could be the case with her.

She could also be working on getting the answer before she responds to you.

Or she could just be dropping the ball.

I would say try reaching out again and if no response, check with another lender. The Atlanta market has a number of responsive lenders. Ive personally had to "fire" a few lenders in the past as they are receptive and responsive up until the day of or before closing and drop out of site when issues arise.

If you would like a recommendation of a responsive lender locally that KNOWS the Atlanta market, Id be happy to give you a name or two if who I work with.

Best of luck,
~Cassandra Bickel, REALTOR
ERA Sunrise REALTY - Metro Atlanta
0 votes
stephen webb…, Agent, Kirkland, WA
Thu Apr 11, 2013
Not to worry yet. Many of the loan officers are overwhelmed with todays market. I would call the lenders front desk and ask for your loan officer and mention you are worried. Everything you described here sounds typical for some markets today.
Best of Luck, Stephen
0 votes
You were denied because of crappy credit and the LO has moved on to other fish.
Flag Mon Oct 31, 2016
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