Loan Officer dragging….. maybe?

Loan Officer dragging….. maybe?Loan Officer dragging….. maybe?
pavingTarma asked 4 years ago

This is really more of a rant, than anything, but maybe I can get some insight on whether I should be feeling impatient right now or not.

 

Timeline:

May 15th, we found out our landlord no longer wants to rent and asked us to be out by August 1st. We decided with a 7 person family, we needed to buy, not rent again.

May 16th, found someone on Zillow forums (a real estate agent) who hooked us up with a local lender who works with low credit (mid-score 620).

May 17th, Filled out preapproval form on lenders site.

May 19th, He emailed me and said he would have a list of things for us to do before we got a rapid rescore to get to 640, and would get it to us the next day.

May 20th, emailed me the info, and I started working on the things he mentioned (mostly paying down credit cards and paying off a judgement). He said to send him proof of each thing that was done.

May 21st, I emailed him screenshots of our account summaries for the credit cards being paid down.

May 23rd, I emailed him with the proof of satisfaction of the judgement.

May 24th, he emails me and said I need different proof for the credit cards, as he can’t use screenshots. I emailed him back within hours, with PDFs of statements and account transactions/payments.

May 25th, nothing

May 26th, nothing

May 27th, nothing

May 28th, I emailed him to see if the PDFs were sufficient proof

May 29th, He emails me back and says they are in his file to look through, hopefully later today.

 

Both the lender and real estate agent know we are working on a very slim timeline to get this done, as we don’t have anywhere else to go if we don’t have somewhere to be moved into by August 1st. We really could have had this done, and the rapid rescore submitted if he would just get back to me sooner, rather than emailing me once a day. We already have a couple of homes picked out, and we can’t even go look at them to make a decision until we get a preapproval letter (LO said we will most likely be preapproved for $ 150K). But I’m just so frustrated because I feel like I can’t even try with anyone else, because I don’t want to get a bunch of inquiries on our credit reports, not to mention it’s going to be hard to find someone to work with us with our credit as it is. So I feel stuck, but also hopeless because if this guy is taking this long just to get us pre-approved, it doesn’t seem like it’s going to go any faster once we ARE, and we will never be able to get into a place by August 1st :smileysad:

 

 

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