Profile picture for RosalynnRobinson

My mortgage lender

My mortgage lender will not give a time frame for approval. One week we are told we are going through underwriting than we told we need to get something removed from the credit report, than the next week my husband was told to close a zero balance jewelry store account.  Even though the item purchased was paid off 3 months ago.  We are ready to go to another lender.  Please provide feedback soon.
  • June 12 - Saint Louis
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Answers (6)

Sounds like this lender didn't exhaust any efforts here in anticipation of necessary requirements prior to processing. Most importantly yet sadly, communication is very weak, which assumes this lender has something to hide or is just flat out careless. Check out some local ratings and reviews from proven professionals via Zillow. Hope everything works out.

  • August 12
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Looks like Alex Gorodinsky has excellent reviews and is in your area.  If I were you, I'd speak to him ASAP.
  • August 06
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Unfortunately, it appears that you are dealing with an incompetent lender. All of these items/requests should have been addressed during the initial pre-approval stage; all at once. Not piecemeal during the actual underwriting. I would suggest getting a second opinion from a reputable source. 
  • June 16
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Profile picture for GMerino

It would be a good idea to maybe not close that jewlry account for now and have someone else look at your file for a second opinion. 

  • June 13
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Profile picture for PaulMcCausland
Hello Rosalynn, it sounds like you're getting incorrect information that could be detrimental to you.  What I mean by that, is why would someone suggest you pay off a zero balance jewelry store account?  That might cause your credit score to drop depending on how long you've had the account.  There might be some challenges with your file, so the best way to communicate would be through a phone call.  Please check out my profile as I have been doing this for a long time. 
I'm here to help,
Paul
  • June 13
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Thanks for your post. Congratulations on your decisions to purchase a home. The first part of home buying is getting approved by a Lender who has done their due diligence as to your ability to repay the loan and not cause you financial harm, by placing you in the incorrect loan program. The Lender is the only one who can deny or approved you for a mortgage that is why it is so important to shop for the mortgage before the home. Agent are in no position to make this decisions and can only refer you to a Lender to determine just how much home you can qualify to purchase. Once this is completed you will be issued with an approval letter that will allow you to hire a Local Agent that will represent your needs and show you home that are available in the area within your price range. Yes its time to get another lender as this should have been done within the 1st 48 hours. 

  • June 12
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