how late in the process can i switch loan officers?

Asked by Dd2010, 55422 Wed Jul 21, 2010

I really dislike my loan officer I would love to switch but Ive already entered a ratified contract with the sellers and I am 5 weeks away from my closing date. She has been a real pain these last few weeks, I've recently come to ask myself if I even still want the house just because of the stress she's putting me through.

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5
Ruth and Per…, Agent, Los Gatos, CA
Wed Aug 4, 2010
Hi there are many lenders out there inMinneapolis can execute this decently and quickly.
If you have not yet paid for an Appraisal then you can fire them tomorrow.

Get in touch with the following:

http://Www.amerisave.com. And or
http://Www.penfed.org

Things will go swiftly and cleanly.

Goodluck
Perry
Web Reference:  http://www.ruthandperry.com
0 votes
Spirit Messi…, Agent, Tucson, AZ
Wed Jul 28, 2010
5 weeks would be no problem at all, I had a client switch lenders with less than 2 weeks before close. I almost had a heart attach, knowing we would need another apprasial, and etc. We got it done in time with COE and it is the clients right to use any lender they want. The good news is you should have plenty of time, but I would make the change sooner vs later.

Spirit
0 votes
Scott Hutchi…, Agent, Lakeville, MN
Tue Jul 27, 2010
5-weeks should be more than enough time to switch. I'm curious as to what he or she is doing.
0 votes
Pacita Dimac…, Agent, Oakland, CA
Wed Jul 21, 2010
If you have another 5 weeks to go, and depending on the type of loan, and whether you have already released your loan appraisal/approval contingencies, you can still switch if that's what you want to do. Just know that when you change lenders, they may not use the appraisal that your current lender had ordered for you.

But why do you dislike your loan officer? If it's because she has demanded a lot of documents within a certain period of time? Please know that you may have to do the same thing all over again. And there's no guarantee that you will like your next loan officer better. Also know that if there are conditions placed on your loan before it's funded, those conditions may have been demanded by the loan underwriter, and as such all your loan officer can do is to relay those conditions to you.

Have you discussed your dissatisfaction with your loan officer and see if perhaps things may change for the better until you close escrow?
0 votes
Linda S. Cef…, Agent, Franklin, WI
Wed Jul 21, 2010
You say "the stress she's putting me through." Can you give a bit more detail in your question.

If your lender is incompetent you may not have a choice. I have had three closings in the past 8 months where my buyer changed lenders and I got all three of them closed. I would need more detail in order to answer your question.

Linda
Web Reference:  http://www.lindacefalu.com
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