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To whom can I appeal turning down lowan refinance?

My loan was decline due to a mistake by the mortgage company I was using, the loan officer made a mistake with my loan.  Is there any recourse that I can take ?

The manager that I talked to wants to compensate my appraisal expense, I would rather have my loan approved, please let me know my options.
 
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September 05 2013 - Lynnwood
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If the manager says it is all over, it probably is in the short term...if he/she is offering to refund your appraisal cost that shows some class... who knows maybe if you stick with them, in the long run it will work out better for you ?
What kind of terms were you getting for 2.5%?

The answers here are echoes of the state of most mortgage agent's current  P & L. If rates were low as this time last year right now, there would have been one answer by PASA (AKA Zillow MVP 2013)  6 hours from now.
Let he who is without sin cast the first loan...
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September 05 2013
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Thanks for responding to my question. Your experience and knowledge is very much appreciated.
My debt to income ratio is more than 45%. I chose to lower my credit card debt. The LO officer calculated the wrong new debt ratio, Therefor not able for the loan to go through. After expressing my question and concerns w/the underwriter the LO apologies for his mistake and try to reopen my loan.
Now they are making me feel that I have done something wrong and told they cannot help me.
The only reason I'm working with this company is locked RATE 2.5%. If someone can do close to this rate, I'M IN.
Thanks.
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September 05 2013
It sounds like the loan officer was unaware of a program guideline and preapproved a loan that was unable to make it through underwriting when properly reviewed. The return of appraisal fee and any other out of pocket expenses is a correct and appropriate gesture.
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September 05 2013
Your best plan of action is to simply find a new lender that will get the job done right! I am licensed in Washington...feel free to contact me and I can help you get through this process efficiently! Best of luck!
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September 05 2013
If this truly was a lender mistake or LO error your best recourse of action would be time find a lender you trust and would like to deal with moving forward. Don't reward someone with your business who doesn't deserve it.

Also, if you wouldn't mind giving us more information on this "mistake" that way we can give you a more clear concise answer that would help this matter greatly.

Either way, good luck on your home refinance or purchase!
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September 05 2013
MIght I add that if your loan was able to be done and it was a loan officer mistake or lender mistake, I would probably look into another lender or loan officer to write your loan anyway.
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September 05 2013
If the only reason it was denied was due to an LO error, your loan should be able to be resubmitted. What exactly was the error and why was your loan denied?
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September 05 2013
yes please give more details....
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September 05 2013
what was mistake ?
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September 05 2013
 
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