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4 weeks and still not even a quote.

Profile picture for josielilly
On July 1st, we met with an associate that deals with a lender, and gave all the information, paperwork, and everything that was deemed necessary for a refi application. Thus far, as of the 28th, we have not even received our quote of what they can offer. Is this normal? It hasn't even gotten to the talks of appraisal, or anything past talks of perhaps a smartloan being suggested, but not yet have we seen any paperwork to sign, even look at.
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July 28 2011 - Lafayette
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Answers (8)

Profile picture for DanielBowman
Actually this is against the Real Estate Settlement Procedures Act that states the lender has 3 days after taking an application to provide you with a Good Faith Estimate in writing - or they are in violation of the law.

I would not even entertain doing business with this company.  Look for a new lender right away.

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July 28 2011
Profile picture for sunnyview
Waiting a month is ridiculous! Dump that zero and get yourself a hero. There are lots of great lenders on Zillow who are responsive, keep in good contact, explain all your options and offer great rates.

I would call that office back and thank them for doing you a favor by not calling you back. They tipped their unprofessional hand on that one. Tell them to shred your app since you will not be using their services.
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July 28 2011
Profile picture for SDMortgagefinder
With the new regulations that have taken place over the last two years.

Any lender receiving the following, must give you written disclosures within three days of receipt of your information.

The trigger information includes:

Name, social security number,gross income, property address,estimated value, and amount of loan.

If you have given all of the above, they are in violation of Federal regulations.

Good Luck.
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July 28 2011
Profile picture for jeanyh
Hi josielilly,

As wetdawgs said, you can connect with a lender right here on Zillow.  To do this, go to the Mortgage Rates tab at the top of your screen and click Get Custom Quotes.  On the left hand column, you can put in your loan request and you will be quoted by a variety of lenders.

You can then browse through different lenders and read reviews posted by people who used Zillow Mortgage Marketplace as a resource to find lenders.  When you click on a quote, you can contact a lender by filling in your name, phone number, email, a personal message, and clicking Contact Lender. 

You can contact me if you have any questions about this process. 

Jeany
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July 28 2011
Profile picture for josielilly
Thank you for your answers. I fear I have been placed on the backburner of this associate. From what I've read, the lack of communication from their end is a huge red flag. I will go check out my options elsewhere. I'm glad that I got proactive about researching what is an allowable amount of time and what isn't. I am prepared for a reasonable amount of time, but I felt that a month (or more because we still have not received a quote) was largely a product of negligence. 
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July 28 2011
Profile picture for James Sommers
That is not normal.  Speak with their supervisor, as they should have access to your paperwork, and if that doesn't get you better service move to a different lender.
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July 28 2011
Profile picture for TheMortgageMark
That is not normal.  I would contact a different lender. 
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July 28 2011
Profile picture for wetdawgs
This is not normal.   Try putting in a request to the Zillow mortgage marketplace.  (click on "mortgage" in blue at the top of the page)
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July 28 2011
 

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Question4 weeks and still not even a quote.
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