jgln
Well-Known Member
Well, probably not that bad but it has been a real headache for me and I have spent a lot of time on this.
I was told no appraisal needed by the loan officer (dealing with 2 people here) which was true, under the terms for a Fannie may loan it is not. BUT they found that the township was entered for the town on the original loan papers so they requested an appraisal at my cost of $450. When I explained the reason I was told I could try calling customer service which I did and they said the correction was easy so they got me in contact with the right person and they generated paperwork (I had to fax them our tax records) for the correction which needed to be signed and notarized which we did last Friday. Today we got a letter in the mail form the loan office (keep in mind this is the same bank) with the address correction to the existing loan. So if they were to check now the address would match the application address which is correct. Keep in mind also this process took over a month from start to finish.
The problem? All along my loan processor (the second guy) keeps insisting I need an appraisal regardless because I cannot go back in time to change the address even if I get it corrected. He said that is the process and that is that. He said get an appraisal by Friday or the application will be canceled. Keep in mind also we have until Dec 1 to close the loan. All other requirements have been satisfied, only the address (appraisal to him) is outstanding.
Why is this guy being such a jerk? Why can't they re-verify the address now and see it was officially changed by them, the same bank? Why is everyone else including the loan officer saying this should work but this guy (loan processor) keeps saying no. The address is corrected now. I even asked the appraiser how he would verify the address and he said he would do it the exact same way (tax documents) as they said they would.
Is this just a excuse to get an appraisal done?
I am so pisssed now, what can I do? The loan officer (the nice guy) even said he can extend the closing date if needed, it is done all the time. He is even seeing if the bank will pay the appraisal fee if it has to be done (% rate adjustment).
I feel this other guy is taking the easy road and being a bully because he has the power to deny the refinance.
I was told no appraisal needed by the loan officer (dealing with 2 people here) which was true, under the terms for a Fannie may loan it is not. BUT they found that the township was entered for the town on the original loan papers so they requested an appraisal at my cost of $450. When I explained the reason I was told I could try calling customer service which I did and they said the correction was easy so they got me in contact with the right person and they generated paperwork (I had to fax them our tax records) for the correction which needed to be signed and notarized which we did last Friday. Today we got a letter in the mail form the loan office (keep in mind this is the same bank) with the address correction to the existing loan. So if they were to check now the address would match the application address which is correct. Keep in mind also this process took over a month from start to finish.
The problem? All along my loan processor (the second guy) keeps insisting I need an appraisal regardless because I cannot go back in time to change the address even if I get it corrected. He said that is the process and that is that. He said get an appraisal by Friday or the application will be canceled. Keep in mind also we have until Dec 1 to close the loan. All other requirements have been satisfied, only the address (appraisal to him) is outstanding.
Why is this guy being such a jerk? Why can't they re-verify the address now and see it was officially changed by them, the same bank? Why is everyone else including the loan officer saying this should work but this guy (loan processor) keeps saying no. The address is corrected now. I even asked the appraiser how he would verify the address and he said he would do it the exact same way (tax documents) as they said they would.
Is this just a excuse to get an appraisal done?
I am so pisssed now, what can I do? The loan officer (the nice guy) even said he can extend the closing date if needed, it is done all the time. He is even seeing if the bank will pay the appraisal fee if it has to be done (% rate adjustment).
I feel this other guy is taking the easy road and being a bully because he has the power to deny the refinance.