Refi Loan - All messed up by lender?

OK, time to talk to her boss.

Good job not signing.

Whether she works for a bank or a mortgage broker, ask for fee reductions due to incompetence. Mortgage brokers often have that flexibility and so do banks believe it or not.

One of my clients had all her fees waived on a new purchase mortgage with her credit union because the loan agent gave her wrong information initially and incompetently listed her assets on the application - causing her initially to be denied.

Talk to the boss or manager; if they are amenable to making it up to you, continue to work with them, you both have a lot of time and energy invested. Might as well keep that 6% rate!

Good luck!

Just like everyone else here, I suggest that you either leave the broker OR go straight to her boss and have them waive the origination. It seems to me that this loan officer had no idea of what she was doing - probably a newbie to the bizz.

It's easiest to stay with them so I would first, go to her boss and re-negotiate the origination fee. By the sounds of your interest rate, your credit must be pretty darn good, so don't sell yourself short if they do not agree to lower their fees for your trouble. I would suggest looking for another broker immediately. To find a really good and ethical loan officer, go to www.narlo.com and search for loan officers in your state. Those loan officers adhere to a very strict code of ethics and if they don't, they are kicked out of the association. I am a member and take that membership extremely serious, as I am sure the rest of my fellow members do. There's NO reason anyone should be unscrupulously led into such an important transaction.

Good luck!

Sounds like a big mess, they hides fees, and will basically tell you just about anything to get you to sign, at times. The best thing to do, would probably be get a second set of eyes on your situation, outside opinion. If you were getting 6%, with no income check, that's a decent rate, may be able to get a bit lower if you verify income, but it does make sense if they were stating your income and had to pay off debts to get you to qualify.

Email me and we can discuss options, ctmackenzie@amdream.net, I have been doing mortgage loans for about 6 years. Licensed in PA and MD. website, www.amdream.net

I suggest you find a better broker/lender. It sounds like they don't know what they are doing. Though they may not need verification of your income if your credit score is high enough you can go stated income and not have to prove anything. Hope this helps and good luck.

the only good thing was a 6% rate (and it had better been a fixed rate too). Terrible deal otherwise and that 4k was unaccecptable. I would leave them.

you do not have to pay her any fee if you didn't sign any docs.

go find a better loan officer, good luck.