Our buyer; chose to use the sellers “Preferred” Lender. This was a challenging loan and this loan officer said it could be done.
Well communication has not been the best with this loan officer. In fact the communication is almost non-exsistant. Then last night we receive an email from the Seller – not the sellers agent (that would his wife); but the seller.
The extent of the email was something like this; “So I am sure the lender has told you; that she re-scored the buyers credit score and one buyer went up and the other down. So I don’t think the loan will go through….”
Then to top it off; the loan officer writes back; “No I haven’t spoken to the buyer about the credit problem yet; I am trying to figure out another option”.
YES; that’s right – the lender spoke with the SELLER – BEFORE speaking with the buyer, the agent or even with the permission of the buyer.
It amazes me that even after all that has happened in the Lending and Real Estate industry; we still run across people like this. If this was MY Preferred lender – they would taken out back to the woodshed – and never heard from again…