Zillow Advice: Mortgage Rates - What to do if lender ignores requests regarding interest rates? http://www.zillow.com/advice-thread/What-to-do-if-lender-ignores-requests-regarding-interest-rates/377883/ Zillow Advice | Zillow Real Estate Rentfox,MTG Banker is right, ... http://www.zillow.com/advice-thread/What-to-do-if-lender-ignores-requests-regarding-interest-rates/377883/ Rentfox,<br/><br/>MTG Banker is right, that often happens with the big box lenders for those very reasons (and a few others). Have you tried going above the person you were working with and seeing if a manager of some sort can help you out?<br/><br/>As for the legal question, you may be able to do something provided you have the proper documentation and can prove a tangible financial loss but none of us can really say too much about that as we are not attorneys and there are liability issues with any non-attorney giving that sort of advice. <br/><br/>Sincerely,<br/>Greg Thu, 16 Dec 2010 00:25:00 GMT http://www.zillow.com/advice-thread/What-to-do-if-lender-ignores-requests-regarding-interest-rates/377883/ 2010-12-16T00:25:00Z anyone, big box LO included, ... http://www.zillow.com/advice-thread/What-to-do-if-lender-ignores-requests-regarding-interest-rates/377883/ anyone, big box LO included, who carries a large enough pipeline can also hire an assistant or two.&nbsp;<br/><br/>I have 2, not processors, etc but actual assistants, one of who's job is just to handle calls and emails from clients and their agents, which alone is an 8 hour a day job. &nbsp;People with a mind for customer service will find a way, those that don't, won't, regardless the pipeline. Thu, 16 Dec 2010 00:34:00 GMT http://www.zillow.com/advice-thread/What-to-do-if-lender-ignores-requests-regarding-interest-rates/377883/ 2010-12-16T00:34:00Z I agree with David you aren't ... http://www.zillow.com/advice-thread/What-to-do-if-lender-ignores-requests-regarding-interest-rates/377883/ <p>I agree with David you aren't going to accomplish something with emails right now.&nbsp; I'm not sure what their management is like but I'd get a hold of the loan officers sales manager and/or the vp at bank that he would be accountable to.&nbsp; If you can document the requests for locking the rate you may get some traction.<br/><br/>You are at a sensitive place in the process right now.&nbsp;Be sure to talk with your agent before doing anything to jeopardize your contract. Hopefully your agent will recognize what's in your best interest and will negotiate for an extension if needed.&nbsp;<br/><br/></p> Thu, 16 Dec 2010 00:13:00 GMT http://www.zillow.com/advice-thread/What-to-do-if-lender-ignores-requests-regarding-interest-rates/377883/ 2010-12-16T00:13:00Z Definitely go speak to a ... http://www.zillow.com/advice-thread/What-to-do-if-lender-ignores-requests-regarding-interest-rates/377883/ Definitely go speak to a manager. If you have other accounts with the lender that are high value accounts, you can threaten to pull those out to a different bank. Sometimes they'll bend over backwards to keep a good customer if they see you're really pissed off. Thu, 16 Dec 2010 00:03:00 GMT http://www.zillow.com/advice-thread/What-to-do-if-lender-ignores-requests-regarding-interest-rates/377883/ 2010-12-16T00:03:00Z You can see where the loan ... http://www.zillow.com/advice-thread/What-to-do-if-lender-ignores-requests-regarding-interest-rates/377883/ You can see where the loan officer is in terms of where your loan stands with them.&nbsp; Have you received your Approval from Underwriting yet?&nbsp; If not, then you may want to check some Mortgage Lenders whom can complete your loan transaction in a timely manner (not to mention, probably provide good customer service).&nbsp; Unfortunately, many times people fall into the Number Category while working with the large banks, as they're working more on volume, than service.&nbsp; If you need any assistance, then I'm sure will find many capable people here to help you with your needs. Wed, 15 Dec 2010 23:59:00 GMT http://www.zillow.com/advice-thread/What-to-do-if-lender-ignores-requests-regarding-interest-rates/377883/ 2010-12-15T23:59:00Z The main problem with Big ... http://www.zillow.com/advice-thread/What-to-do-if-lender-ignores-requests-regarding-interest-rates/377883/ The main problem with Big Box Lenders is the loan officers are often required to carry a fairly large pipeline of clients. What typically happens when a loan officer has a large pipeline is they have to cut corners to stay on top of their loans and the first corner that is cut is customer service.<br/><br/>They option you have is to request an extension to your contract and find another lender that will be more responsive and offer the customer service you deserve. Wed, 15 Dec 2010 23:54:00 GMT http://www.zillow.com/advice-thread/What-to-do-if-lender-ignores-requests-regarding-interest-rates/377883/ 2010-12-15T23:54:00Z People in this country are ... http://www.zillow.com/advice-thread/What-to-do-if-lender-ignores-requests-regarding-interest-rates/377883/ People in this country are generally lazy and will usually only help you if they have something to gain (just my observation). Even then, getting some "service providers" to perform is like pulling teeth. This guy is probably being lazy because he knows he's got you by the short hairs. <br/><br/>For people like this, telephone calls and email just aren't going to get any action. If you want action you'll need to go into his branch and feel free to be upset (read pissed off) when you do. Talk to the manager. Tell him/her that you are totally unsatisfied with the service you're getting and demand the service you are paying for.... and know this: they aren't doing you a favor by lending you money... you are PAYING them to lend you money. I would threaten to walk away due to unsatisfactory financing. If they have any sense of customer service at all, they will bend over backwards to make you happy. If not, here are two other options:<br/>1) Postponed your close of escrow in order to find acceptable financing elsewhere (the seller will have to agree, but most contracts are contingent on obtaining acceptable financing).<br/>2) Walk away from the transaction due to inability to secure acceptable financing (your contract will spell out how/if this is possible without losing your deposit).<br/><br/>I am not a lawyer. This is not legal advice. Your purchase contract will tell you what your possibilities are and the requirements for each. Whatever you do, don't let the bank "force you" to take something you don't want. <br/><br/>Let me know if I can help. Wed, 15 Dec 2010 23:06:00 GMT http://www.zillow.com/advice-thread/What-to-do-if-lender-ignores-requests-regarding-interest-rates/377883/ 2010-12-15T23:06:00Z Sorry to hear about your ... http://www.zillow.com/advice-thread/What-to-do-if-lender-ignores-requests-regarding-interest-rates/377883/ Sorry to hear about your experience. I just closed a loan for a client who was having a similar experience. It got to the point that he changed lenders although he had already paid for an appraisal with the other lender. You really don't have any recourse other than chosing not to do business with the party that provided poor service and letting them know why. Wed, 15 Dec 2010 22:59:00 GMT http://www.zillow.com/advice-thread/What-to-do-if-lender-ignores-requests-regarding-interest-rates/377883/ 2010-12-15T22:59:00Z