| Author |
Previous Topic | Next Topic |
kdoffing
52 Posts |
 Posted - 06/26/2008 : 9:31:53 PM
|
I've been working with these homebuyers for 3 months. They had made offers on two other homes, and the offers had been declined. They made a third offer and it was accepted.
Their Realtor put doubt in their minds that they were getting the best loan by going through me. Referred them to "her mortgage guy". Of course his GFE shined compared to mine (they gave him a copy of mine). For instance his interest was just a little lower than mine, he only had 1 day prepaid interest, etc. and he told them they could get their $500 earnest money back at closing.
I had submitted their loan (USDA Rural) to TBW on June 14th, and let them know that since it had already been submitted that if they did go with the other loan officer, it would take much longer to close their loan, because they would be starting over in the process. We talked and compared GFE's, and they decided to stick with me.
Well here it is the 26th, and their loan at TBW still hasn't been assigned to an underwriter. Now their Realtor is bad mouthing me saying that I was supposed to get their loan closed so much quicker - so why isn't it closed...
Now she's making statements like "We both know you have lied, so quit denying it.", and "I hope you don't try to hose your next clients".
This is the most unprofessional woman I have ever dealt with. What's sad is that she is stirring up unnecessary trouble, stress and doubt for these first time homebuyers.
Any advice on how to handle this crazy lady???
|
|
UPINARMS
112 Posts |
Posted - 06/26/2008 : 9:39:26 PM
|
My way?
Baseball bat and a ski mask bro. |
|
|
kdoffing
52 Posts |
Posted - 06/26/2008 : 9:46:51 PM
|
| Not looking to go to jail though. but thanks for the suggestion... |
|
|
mdiclemente
1016 Posts |
Posted - 06/26/2008 : 9:52:04 PM
|
| Is she a broker or a realtor? |
|
|
kdoffing
52 Posts |
Posted - 06/26/2008 : 9:55:50 PM
|
| A Realtor - she tried to get my clients to go w/ the loan officer that she apparently refers her clients to. |
|
|
Maswa
16 Posts |
Posted - 06/26/2008 : 9:59:57 PM
|
Kdoffing, was her name Ricci? just kidding...I feel for you ! I went thru almost exact same scenerio few months ago, worked with this borrower for almost same time frame, he took his sweet time finding property, had him prequalified, he wanted to go stated,then right in the middel, country wide decided to change some of their programs that were offered ,we were having some hickups with VOD, and then the realtor came into the pic..not enough that she was representing both parties acting as intermediary and getting 5% commision, she told the buyer that he was getting screwed basicaly and that her loan officer can do so much better...I was making 1+1.5, she gave him a GFE with top part cut off so you couldnot see the name 0f the company, I was pissed! why when she is allowed to make her money but we cannot make even 2points...the borrower were new to the whole thing and I just felt like it was not worth my time and energy anymore and turned them loose...She actually also had a Insurance friend who were trying to have borrower switch also....I thought about complaining to her broker since if she was the intermediary she has to stay neutral and cannot give advise to either party, but ended up just cutting my loses since It was beginnig to ruin my mood everyday...trust me it took a while to get over it and i feel for you..
quote:
Originally posted by kdoffing
I've been working with these homebuyers for 3 months. They had made offers on two other homes, and the offers had been declined. They made a third offer and it was accepted.
Their Realtor put doubt in their minds that they were getting the best loan by going through me. Referred them to "her mortgage guy". Of course his GFE shined compared to mine (they gave him a copy of mine). For instance his interest was just a little lower than mine, he only had 1 day prepaid interest, etc. and he told them they could get their $500 earnest money back at closing.
I had submitted their loan (USDA Rural) to TBW on June 14th, and let them know that since it had already been submitted that if they did go with the other loan officer, it would take much longer to close their loan, because they would be starting over in the process. We talked and compared GFE's, and they decided to stick with me.
Well here it is the 26th, and their loan at TBW still hasn't been assigned to an underwriter. Now their Realtor is bad mouthing me saying that I was supposed to get their loan closed so much quicker - so why isn't it closed...
Now she's making statements like "We both know you have lied, so quit denying it.", and "I hope you don't try to hose your next clients".
This is the most unprofessional woman I have ever dealt with. What's sad is that she is stirring up unnecessary trouble, stress and doubt for these first time homebuyers.
Any advice on how to handle this crazy lady???
|
|
|
SolarMTG
393 Posts |
Posted - 06/26/2008 : 10:00:03 PM
|
| have you called your rep? have you done EVERYTHING you could to push it through? a wait and see approach isn't going to get it done any faster. do what you can to find out whats taking so long. if they can't close it when you need to, you may need to think about sending it somewhere else. |
|
|
mdiclemente
1016 Posts |
Posted - 06/26/2008 : 10:03:53 PM
|
In that case, if you are unable to reason with her and she continues to be belligerent, I would call her RE broker. Make sure to be very polite and explain your situation with the unprofessionalism.
quote:
Originally posted by kdoffing
A Realtor - she tried to get my clients to go w/ the loan officer that she apparently refers her clients to.
|
|
|
mdiclemente
1016 Posts |
Posted - 06/26/2008 : 10:04:37 PM
|
| Maybe she's upset because she got 500 emails this week from the people that bought Gambit's list :) |
|
|
RANDY P
2828 Posts |
Posted - 06/26/2008 : 10:06:56 PM
|
politely remind the client that the realtor's motivation for this is she wants to get paid, pure and simple.
you are the expert, tell the borrowers that the RE agent has no clue what she is talking about. You have invested time into this and wouldn't be there unless it was going to close.
BY have teh RE agent say those things she's hoping the borrowers will come back and make the LO "perform" better - like anyone can call TBW and make them rush a file.
One thing, whenever I get a borrower that I didn't get from the agent, I make sure in a roundabout way paint the picture that the RE agent is really just there to get their check. That's why they're always spouting off about problems with the deal.
I also make sure I tell the borrowers that it's NEITHER agent's business what their credit and financicals are so they don't need to deal with it. They just need to know they qualify for the house so don't tell the agents - it's not their biz. By doing so both agents will work AGAINST THE BUYER - either negotiate less to raise the purchase price of the house for more pay or simply kick you away for a better more qualified borrower.
Lastly, never be afraid to tell the agent to get crammed. If she's this bad now you will never get any referrals out of them. Can't please everyone and you don't want to work with an agent who is like that. Chances are this chick is a bottom feeder who doesn't do many transactions if they are doing these stupid RE agent games.
rjp |
|
|
RANDY P
2828 Posts |
Posted - 06/26/2008 : 10:12:10 PM
|
lastly, bring the deal back down to earth. Get to the fact that if it goes a day or two late no one is going to die - a meteor isn't going to come down from out of the sky and kill everyone if closing doesn't happen on the date specified on the PSA.
State the reason why the pressure is on is because the RE agent wants their money. The bank is the bank and that's the way it is - they have thousands of files in there and you have to wait your turn like everyone else.
THen, change to a different lender. TBW is hammered try someone else.
rjp |
|
|
AndrewSoss
359 Posts |
Posted - 06/26/2008 : 10:17:56 PM
|
| Next time, don't over promise and under deliver. You should factor in the turntimes when you are quoting your loan. |
|
|
kdoffing
52 Posts |
Posted - 06/26/2008 : 11:20:31 PM
|
| I really didn't think I was overpromising, by submitting the loan on 6/14, and expecting to close by 6/30... |
|
|
kdoffing
52 Posts |
Posted - 06/26/2008 : 11:21:23 PM
|
| Especially when TBW was saying their turn times are 24-48 hrs! |
|
|
kdoffing
52 Posts |
Posted - 06/26/2008 : 11:23:08 PM
|
| Thank you everyone for your feedback!!!! |
|
|
johnnyboy38109
3057 Posts |
Posted - 06/27/2008 : 05:29:46 AM
|
quote:
Originally posted by AndrewSoss
Next time, don't over promise and under deliver. You should factor in the turntimes when you are quoting your loan.
It would appear he did factor in t-times. |
|
|
darkstar
18289 Posts |
Posted - 06/27/2008 : 05:38:53 AM
|
I would call borrower and tell them that the loan is being held up as the REALTOR's fee is so high the bank has to get an exception and make sure they realize they will make 2 years of payments just to pay the realtor fee!...Then tell them if you could get the realtor to reduce that by at least half, we can get this done much faster, they can do it, they won't like to or want to, but they can ;p-)
|
|
|
CoolMtgGuy
3704 Posts |
Posted - 06/27/2008 : 05:54:57 AM
|
I have had this happen more times than I can remember. The bottom line is that the borrower has to believe that their transaction is being handled in the most expedicious way possible. It does not matter if it is not not ... they just have to believe it. If another funding source convinces the borrower that they can get it done, then you are SOL unless you can keep the borrower commited. Whether it is a real estate agent or another originator trying to get the borrower's business, it is to be expected in our business.
Regarding the bashing of real estate agents, why is it so evil what they do? Don't originators do the same thing? If one of you had access to another originator's GFE, would you not also muck around with the number to make yours look better? As much as it ***** when it happens, I don't think the re agent is doing anything that most originators won't do.
Do all that you can working with your client ... the borrower. Talking to the re agent's broker or anyone else is not going to be productive for you. Good luck.
|
|
|
DaveDeal
66 Posts |
Posted - 06/27/2008 : 06:13:40 AM
|
quote:
Originally posted by kdoffing
A Realtor - she tried to get my clients to go w/ the loan officer that she apparently refers her clients to.
There needs to be a "procuring cause" in effect for when realtors try to steer clients away.  They sure get pissy when someone cuts into THEIR pie. |
|
|
arrakis
52 Posts |
Posted - 06/27/2008 : 07:45:00 AM
|
quote:
Originally posted by kdoffing
I've been working with these homebuyers for 3 months. They had made offers on two other homes, and the offers had been declined. They made a third offer and it was accepted.
Their Realtor put doubt in their minds that they were getting the best loan by going through me. Referred them to "her mortgage guy". Of course his GFE shined compared to mine (they gave him a copy of mine). For instance his interest was just a little lower than mine, he only had 1 day prepaid interest, etc. and he told them they could get their $500 earnest money back at closing.
I had submitted their loan (USDA Rural) to TBW on June 14th, and let them know that since it had already been submitted that if they did go with the other loan officer, it would take much longer to close their loan, because they would be starting over in the process. We talked and compared GFE's, and they decided to stick with me.
Well here it is the 26th, and their loan at TBW still hasn't been assigned to an underwriter. Now their Realtor is bad mouthing me saying that I was supposed to get their loan closed so much quicker - so why isn't it closed...
Now she's making statements like "We both know you have lied, so quit denying it.", and "I hope you don't try to hose your next clients".
This is the most unprofessional woman I have ever dealt with. What's sad is that she is stirring up unnecessary trouble, stress and doubt for these first time homebuyers.
Any advice on how to handle this crazy lady???
Well in Texas that's a Shootn' offence
Seriously though I've dealt with this kind of thing before and I report them for ethics violations and steering. You can really ruin their day that way. Most of the other posts here all have merit. Especially regarding pricing. I steer away from pricing talk and focus on service.
One thing you can say to your borrower is that the GFE is just that an "Estimate" and that you have been working with them all of these months and you always round your numbers up because you want to make sure they have enough for closing. Quite often I'm wrong but in the rare case I'm right your closing will proceed smoothly..... or something like that.
THEN.... you go and cut a little here and a little there and make yours look better than the other lender and don't be afraid to mention that the Realtor has committed a serious ethics violation and that makes you very concerned.
The best piece of advice posted here. Under promise and over deliver. Worked for Scotty to Capt Kirk! Expectations management is key. |
|
|
The Board of Dir
46 Posts |
Posted - 06/27/2008 : 07:53:27 AM
|
Call her and explain your position.
Then inform her that, if she still wants to take the loan to "her mortgage person".
Offer to rochambeau her for it, with you going first. |
|
|
jeff4567
1538 Posts |
Posted - 06/27/2008 : 07:54:52 AM
|
| I have had realtors try this with me. If a buyer's contract has not been signed yet, have the borrower switch realtors. |
|
|
Chris Clark
5966 Posts |
Posted - 06/27/2008 : 07:59:35 AM
|
quote:
Originally posted by kdoffing
I really didn't think I was overpromising, by submitting the loan on 6/14, and expecting to close by 6/30...
Yeah, that's definitely overpromising if you're using TBW.
You're looking more like submitting the loan on 6/14 and expecting to close by 7/31... |
|
|
jeff4567
1538 Posts |
Posted - 06/27/2008 : 08:02:02 AM
|
quote:
Originally posted by Chris Clark
quote:
Originally posted by kdoffing
I really didn't think I was overpromising, by submitting the loan on 6/14, and expecting to close by 6/30...
Yeah, that's definitely overpromising if you're using TBW.
You're looking more like submitting the loan on 6/14 and expecting to close by 7/31...
lol
sad but true
no way TBW can deliver on that kind of turn around time |
|
|
Chris Clark
5966 Posts |
Posted - 06/27/2008 : 08:03:41 AM
|
quote:
Originally posted by CoolMtgGuy
Regarding the bashing of real estate agents, why is it so evil what they do? Don't originators do the same thing? If one of you had access to another originator's GFE, would you not also muck around with the number to make yours look better? As much as it ***** when it happens, I don't think the re agent is doing anything that most originators won't do.
There's a huge difference between a LO trying to steal a client from another LO and a RealtorŪ trying to steer a client from one LO to another.
But if you want to compare apples to apples, no, most LOs do NOT try to steer their client from one realtor to another. So what makes it OK for the realtor to do it to the LO? (Other than making sure they get their commission check quicker, or their cash kickback, or both...) |
|
|
MaJa
125 Posts |
Posted - 06/27/2008 : 09:10:02 AM
|
Just this week I had the same thing happen. Worked with a client since 2/08 and called them every other week while they were shopping. Provided a number of preapprovals, many discussions regarding different aspects of financing, etc, etc. They get into contract and the realtor drives them to his in house lo. they get a quote for a 5/1 @6.25 (conf jumbo, 80%). I think i've lost the deal. we have a special on conf jumbo and I can now do the same deal for 6.125%. borrower doesn't budge, realtor doesn't budge. The borrower keeps saying he is relying on the realtor to advise him. the in house lo can't get the value needed. realtor calls me on sunday afternoon to see if i can do anything. Now don't jump on me here, but we order appraisals through a panel and never ever speak to them. It's totally disconnected between lo and appraiser. they decide to rush an appraisal through me. my appraiser comes in at value. rates jump, i can't get the 6.125 or 6.25. borrower doesn't want to pay points. financing continguency needs to be lifted. borrower walks away from the purchase. the only satisfaction i have is that the realtor lost his commission. borrowers are out of the market now. i'm a little bitter because i'm finding borrowers work with me to get their bank pre approval and i spend hours and hours building a rapport (i think) and their stinking realtor directs them to someone else who bs's them to get the deal. i'm definitely looking at how i'm handling clients.
one of the escrow officers i recently worked with closing a purchase said she is seeing 2 and 3 packages from different lenders/mortgage brokers come in for the same property. no wonder lenders are bogged down in underwriting etc. |
|
|
kdoffing
52 Posts |
Posted - 06/27/2008 : 09:14:53 AM
|
| Yeah - it's tough not to be bitter/angry. On the other hand, I have worked with some great realtors, who understand the process and sit back and wait to hear from me. Although one of my recent transactions the realtor is day trading stocks - so he's pre-occupied anyways... |
|
|
RANDY P
2828 Posts |
Posted - 06/27/2008 : 10:07:59 AM
|
Re agent called me one day and tried to get all heavy when the file got suspended due to a bad appraisal - the RE agent chose the appraiser. Being the kind of jerk I am (since the RE agent was a punk about it) I told the client the deal stalled because "the lender thought your credit and income is great, but they are scoffing at the purchase price of your home..."
That agent went shrill real quick when the buyers started giving them the 3rd degree.
quote:
Originally posted by darkstar
I would call borrower and tell them that the loan is being held up as the REALTOR's fee is so high the bank has to get an exception and make sure they realize they will make 2 years of payments just to pay the realtor fee!...Then tell them if you could get the realtor to reduce that by at least half, we can get this done much faster, they can do it, they won't like to or want to, but they can ;p-)
|
|
|
MaJa
125 Posts |
Posted - 06/27/2008 : 10:14:33 AM
|
| That must of felt good in a sick way ;-) |
|
|
CoolMtgGuy
3704 Posts |
Posted - 06/27/2008 : 10:22:38 AM
|
Chris ... good point you make. I am just being a devil's advocate on the issue because I have been shafted by LOs many times. LOs usually do not steer clients to other agents because they cannot ... but I have no doubt that they would if they could. My best friend is a re attorney and I cannot tell you how many shady LOs we talk about all the time. We are no angels.
By the way, I am someone who is part-owner of an inhouse mortgage company that is failing because agents are referring their buyer customers to other source. I have no love for them or their behaviour. I also believe that we sometimes behave like we are angels and we are far from that.
quote:
Originally posted by Chris Clark
quote:
Originally posted by CoolMtgGuy
Regarding the bashing of real estate agents, why is it so evil what they do? Don't originators do the same thing? If one of you had access to another originator's GFE, would you not also muck around with the number to make yours look better? As much as it ***** when it happens, I don't think the re agent is doing anything that most originators won't do.
There's a huge difference between a LO trying to steal a client from another LO and a RealtorŪ trying to steer a client from one LO to another.
But if you want to compare apples to apples, no, most LOs do NOT try to steer their client from one realtor to another. So what makes it OK for the realtor to do it to the LO? (Other than making sure they get their commission check quicker, or their cash kickback, or both...)
|
|
|
financeone
1646 Posts |
Posted - 06/27/2008 : 10:30:57 AM
|
quote:
Originally posted by mdiclemente
Maybe she's upset because she got 500 emails this week from the people that bought Gambit's list :)
LOL! |
|
|
kdoffing
52 Posts |
Posted - 06/27/2008 : 10:32:10 AM
|
| So is steering a client to another LO a violation of some kind - or just annoying? |
|
|
CoolMtgGuy
3704 Posts |
Posted - 06/27/2008 : 10:36:45 AM
|
None that I can think of. Any that you can think of?
The term "steering" is being misused. Steering as defined in real estate licensing laws is illegal. There is no such definition on the mortgage side to my knowledge.
It is simply annoying.
quote:
Originally posted by kdoffing
So is steering a client to another LO a violation of some kind - or just annoying?
|
|
|
Chris Clark
5966 Posts |
Posted - 06/27/2008 : 10:40:42 AM
|
quote:
Originally posted by kdoffing
So is steering a client to another LO a violation of some kind - or just annoying?
Is steering illegal? Not that I know of. Unethical? Probably.
Is receiving a kickback illegal? Pack your bags, you're heading to the pokey...
|
|
|
bruening56
42 Posts |
Posted - 06/27/2008 : 10:46:14 AM
|
| I hate agents!! Plain and Simple. Tell your clients to buy FSBO's... |
|
|
kdoffing
52 Posts |
Posted - 06/27/2008 : 10:50:06 AM
|
| I agree totally!!!! We just sold two of our rentals by owner. We had open houses Saturdays and Sundays for a month and a half. The house next door was listed with a realtor - never had an open house the whole time. The poor sellers would sit on their front porch and watch all the people coming to check out our house. |
|
|
RGK2394
1224 Posts |
Posted - 06/27/2008 : 11:03:44 AM
|
What is it with people? That Realtor is outta control and I would defnitely have some choice words for her.
My brother and sister in law have been looking for a new home, and I've been working with them for 6+ mos now. Little to no money down, FHA, need seller concession, DPA, etc., admittedly a tougher one. Realtor KNOWS they are FAMILY, again KNOWS THEY ARE FAMILY, and STILL gets her broker on the phone to talk to my sis in law claiming they can get her a WHEDA loan, not knowing that it's the first thing I looked into for them but since their DR is over 45% they don't qualify. I couldn't believe it- called the Realtor and left her a message on how unprofessional and unethical she was, and how I couldn't believe her audacity.
I then also asked how I could get HER to be so loyal to ME as her broker, because I sure as hell haven't found any Realtors that willing to push my company!!! Obviously some commission splitting going on over there! |
|
|
hpmfinancial
1554 Posts |
Posted - 06/27/2008 : 11:10:26 AM
|
quote:
Originally posted by mdiclemente
Maybe she's upset because she got 500 emails this week from the people that bought Gambit's list :)
Exactly |
|
|
GianniD
215 Posts |
Posted - 06/27/2008 : 11:37:00 AM
|
Had a Realtor do this to me once, and was real smug about it. She didnt know clients didnt like her, and rebuffed any attempts by me to contact her.
Only way to fight fire, is with more fire, esp. since I didnt care about any fallout.
This agent happened to primarily be a listing agent. I sent a letter to her 4 current listings in that township, asking if their agent offered them reduced price commissions on their listing, as well as their new home, and if their inhouse mortgage company could do what 'my team does', which is offer a minimum 1% discount on their commission as well as savings on their next purchase. (Had an agent I work with agree to do this).
I also sent postcard mailers to the neighborhood with the banner 'At What Price Loyalty?' explaining what the agent did, and had a link to a webpage that shared some other tidbits.
Of course I got a cease and desist, and she was pizzzzed as feedback poured in.
Its a jungle out there right?
|
|
|
toddblue
2397 Posts |
Posted - 06/27/2008 : 11:40:25 AM
|
| Post her fax #. I will fax her a stack of black construction paper. Anyone else that wants to can do the same. |
|
|
Rylo
131 Posts |
Posted - 06/27/2008 : 11:51:17 AM
|
| I think you should post her name and number on here and tonite when us loan officers are drunk we can all call her and bust her balls about what a true realtor she is for doing this. You don't pick out of someone's pipeline period. Please post because I will be drunk tonite and I'm already excited about this. |
|
|
kdoffing
52 Posts |
Posted - 06/27/2008 : 11:53:09 AM
|
Well - looks like I lost this one. My client's not returning my calls or emails now.
I just found out from TBW that the file will go to UW on Monday and we should have conditions by Wed. The closing date was supposed to be next Tuesday. I'm sure the realtor is giving my client an ear full at this point.
So when TBW says 24-48 hour turn times, they really mean after your file sits there for 3 weeks it will finally get to an UW, and then it will only be 24 - 48 hours before you get your conditions.
|
|
|
GianniD
215 Posts |
Posted - 06/27/2008 : 12:08:49 PM
|
quote:
Originally posted by kdoffing
So when TBW says 24-48 hour turn times,
Agents SUCK, but, in all seriousness, you should have been on them after the 49th hour. No excuse for you not to follow up and HAMMER the rep at that point. I typically submit files to MI companies to UW, but, when sending directly to investor, I email rep AS file gets sent in, and thereafte as eeded. If I really need attn, I start CC'ing people, making them accountable.
***** though because the best lessons we learn in this biz are usually painful, or costly. Sorry dude. |
|
|
Travis Du Bois
589 Posts |
Posted - 06/27/2008 : 12:13:57 PM
|
Kim next time you need a USDA loan done please call me. We will have a decision for you in 24 hours as of July 1st. I do a lot of USDA loans and have a department that just processes USDA loans.
I'm sorry that happend to you so next time give me a call and lets see what we can get done.
Thanks |
|
|
Travis Du Bois
589 Posts |
Posted - 06/27/2008 : 12:14:36 PM
|
Kim next time you need a USDA loan done please call me. We will have a decision for you in 24 hours as of July 1st. I do a lot of USDA loans and have a department that just processes USDA loans. http://www.brokeroutpost.com/loans/brokers/forum/topic.asp?TOPIC_ID=203463
I'm sorry that happend to you so next time give me a call and lets see what we can get done.
Thanks |
|
|
hjames1908
53 Posts |
Posted - 06/27/2008 : 12:27:40 PM
|
I think you've gotten a lot of really good advice from most of these posts. I have been both an LO and a Realtor and we've all been screwed by these aggressive, greedy nuts from time to time. They just come with the "low on the food chain" mentality of many Realtors. (Personally, it's the reason I avoid working Realtor leads like the plague they can be.) I am as aggressive in kind as they were in dishing it out in the first place.
I would tell her in this order, in a firm and professional manner, just stop it. If it continues, you'll talk with her broker. Her behavior is unprofessional and unethical (well maybe unethical; we'll use it anyway). If the broker can't bring her under control, you'll go to her association. If that's not effective, you'll go to the state. You can lose each battle and still win the war. And I always make it clear that once I start the assault, it continues, even after closing...if there is one. It's a "don't tread on me" thing.
Oh, in my estimation, you were overly optomistic in your turn around and you did over promise and under deliver. A ball park two weeks to underwrite, pull stips, maybe an appraisal review, get cleared and then draw docs? Not usually. And never, never believe AEs and their "turn time" estimates. If you're on the line, you need to call them or the underwrting department and tell them what you have and what your needs will be before they get your stuff.
I'm crossing my fingers for you. Now go get and win this one for us Gippers out here! |
|
|
Mandyvilla
3447 Posts |
Posted - 06/27/2008 : 1:33:11 PM
|
| QUESTION (I don't offer USDA rural): are these loans anything like FHA and VA, do they not have case or control numbers? Or can you have a USDA customer out there w/ several different locks? |
|
|
walding714
379 Posts |
Posted - 06/27/2008 : 2:15:28 PM
|
Tell her you will be contacting the her realtor association and DRE to ask if this is acceptable behavior, let her know that you will tell them that you suspect she is doing this for compensation from the other L.O. and lastly, speak to your borrower face to face, ask them if they really should trust someone that is this unprofessional that is badmouthing someone she doesn't know and clearly is trying to push out of the transaction, ask them if they are willing to put their well being in the hands of someone that is clearly looking out for themselves/seller/other L.O., giving her a kickback. Give them the puppy dog eyes and tell them all that you have done up until now and show them side by side comparisons of the lenders and loan programs you have researched for them. Also explain to them that the GFE is an "estimate" and that you bet that the other L.O.'s terms or GFE will change at the 11th hour.
quote:
Originally posted by kdoffing
A Realtor - she tried to get my clients to go w/ the loan officer that she apparently refers her clients to.
|
|
|
Captain Mortgage
1745 Posts |
Posted - 06/27/2008 : 2:17:58 PM
|
| I'm kind of confused. Why are they working with that realtor? You've been working with them for 3 months. You must've been talking with their realtor during that time. |
|
|
RANDY P
2828 Posts |
Posted - 06/27/2008 : 4:11:37 PM
|
WOW! that's slick! Even spent money to get the old bag.
Nice work.
rjp
quote:
Originally posted by GianniD
This agent happened to primarily be a listing agent. I sent a letter to her 4 current listings in that township, asking if their agent offered them reduced price commissions on their listing, as well as their new home, and if their inhouse mortgage company could do what 'my team does', which is offer a minimum 1% discount on their commission as well as savings on their next purchase. (Had an agent I work with agree to do this).
I also sent postcard mailers to the neighborhood with the banner 'At What Price Loyalty?' explaining what the agent did, and had a link to a webpage that shared some other tidbits.
|
|
|
kdoffing
52 Posts |
Posted - 06/27/2008 : 4:26:17 PM
|
No, they've been making offers on homes all over the state. So every time they are in a new town they find a new realtor. To answer someone elses question - yes I did lock the loan when I submitted it.
I actually did finally hear from my client, and I let her know about the delay in closing, and that she will need to contact her Realtor to get the purchase agreement closing date modified. My client understood the situation and was going to contact her realtor.
I just got this email from the realtor: Subject is Promises, Promises, lies, lies.
Well, once again I have to find out more information from my clients about closing not happening until probably next Wednesday? Why wasn't I informed of this???????? If you felt you didn't want to talk with me, you should have had someone else do it.
She's really a credit to her profession, eh? |
|
|
|
Previous Topic | Next Topic |
|
Search for: 
