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Dealing with mortgage company

Profile picture for Bar11111
I've been trying to buy a short sale for 6 months now . Wih the same loan officer and two different mortgage companies . LO from American fidelity told mena week before closing date that I needed more income . ($900 Extra a month) so after a lot of mistakes on her side we decided to switch to a new bank and they approved me but American fidelity won't release FHA case number Wich would cause me to loose the house if I don't close on time . Selling bank said they will not give another extension the worst part is that the case number the LO from American fidelity opened had a different address so FHA thinks that I'm trying to buy two houses. My new Lo even talked. Directly with FHA and tried to close the old cas with no luck . What can I do I want to report them to HUD .
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November 29 2011 - Cicero
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Profile picture for .Supreme Lending.
"American fidelity won't release FHA case number Wich would cause me to loose the house if I don't close on time"
This is just not possible.
Did you have your LO's company contact them to have this transferred? If they have, and American Fidelity has not been cooperative then you can go to HUD directly for this. 
Something doesn't seem right or we are not getting a full story. I have had to do this in the past.

Good luck
www.supremelendingil.com
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November 30 2011
Profile picture for SacRELender

I agree with Steve.  Something doesn't sound right.  I've been on both sides of FHA case number assignments and it's usually not a problem.  If a lender is not cooperating you should contact your local HUD office.  I know every office is different, but here in Sacramento, the people at the HUD office get a bit testy if lenders don't co-operate with one another.

As for the $900 more income needed, that could be just a difference of how flexible the two lenders are.  Still, that sounds like a big difference.

Unfortunately case numbers don't get canceled.  I really don't see how that would affect your loan approval though.  I've had borrowers have more than one case number many times when the 1st property didn't work out.

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December 01 2011
 
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