Profile picture for deannasjuju

Fee Disclosure Form was never signed...

The Loan officer never gave us a fee disclosure form. It was never signed. it was not indicated on the Applicant Acknowledgement Agreement.  (Long Story Short) The loan was denied at underwriting. Can I get my appraisal and credit report costs refunded from the bank ($439) because we never recieved this disclosure or the booklet? We never signed anything that we got it. I have my documents scanned and saved. Can they come back and say that We did recieve this and really we did not?

Really because this was the loan officer's fault I would like to ask for Inspection $325 as well. Can I ask for more $$$? How can I approach this? I have sent letters through Consumer Protection & Better Business Bureau (which were denied, but the letter response said that according to thier booklet that I have recieded- I never recieved this booklet and it was not indicated that I got it).

My Long Story is mentioned at "Paid for Appraisal/Inspection.. Loan Declined.. so what now?."

  • November 07 2012 - Milwaukee
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Answers (7)

Underwriting again?  I have seen nothing but underwriting problems this year.  Can't really speculate on what the underwriter say.   Some local banks do their own underwriting and provide you with a prequalification instead of a preapproval letter.   If nothing changes between the prequalification and closing you should be good to go.   Your agent should discuss a number of important issues with the loan process when you sit down to write and offer to purchase.  Among these is make sure you don't top out your charge cards, no major purchases like a car, or other debt that will limit funds available for a loan.  

I would be surprised if you receive any money back from the lender.  That just don't happen.  They collect and transfer the money to the appraiser who is independent from the bank.  The inspector you hired and paid.   The loan application money is already gone.  Best bet is to learn from the process.  In the winter season you have a good chance of finding a better home at a reduced cost, which would make anyone feel better.  Stay positive.  Life is full of disappointments.  What we do with them forms our character.  
  • November 27 2012
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Profile picture for wetdawgs
"I was looking for a qualification decision. A Yes or No."    The loan officer can't give you that absolutely, that is why the information goes to an underwriter for the "yes or no".
  • November 08 2012
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So what is the rules regarding the Disclosure aspect?
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The lender has to document they were sent to you. Getting them signed is optional.

They can show they mailed them or that they emailed them. Systems will vary, for example we email and our system does show you when you opened the email, if you don't open the email within about a day or so then they get mailed. Systems from other lenders might be different.
  • November 08 2012
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Profile picture for deannasjuju
Thats true, but she didnt give us all the information....That should be our choice. Not hers. She either missed it or decided to move forward on her choice. I didnt beg her to submit the loan. Or persuade her to still submit it. I was looking for a qualification decision. A Yes or No.

So what is the rules regarding the Disclosure aspect?
  • November 08 2012
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The loan officer is, by statute, not allowed to discourage you from applying for a mortgage; to do so would violate ECOA.

  • November 07 2012
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Profile picture for deannasjuju
We would not have gone forward with the loan transaction if the loan officer did her job correctly and told us that we have 2 issues. She never did.. So I want the bank to be responsible and reimburse us because I had asked her if those issues would pose a problem. She thought they wouldnt and we moved forward and purchased the Appraisal, Inspection, and credit report. Then at underwriting we were denied.

I think we did sign a good faith estimate.

I recieved a letter from the VP of US Bank and they said that because I signed a Disclosure Booklet... I never signed a Disclosure Booklet. On the Applicant Acknowledement Agreement.. says "Fee Deposit Acknowledgement: (Refer to Disclosure Booklet section...) We never recived that booklet. And directly below she was to check a box designating we recieved a "Fee Deposit Acknowledgement Notice) She did not check that box. We never recieved a booklet.
  • November 07 2012
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The GFE would have itemized the charges.

You paid for and received a copy of the appraisal; in other words you received the goods you paid for; why would there be an anticipation of a refund?
  • November 07 2012
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