I really wonder about the people at my loan officer's office. I haven't said much about the lack of communicatoin on their part on my blog, but this latest blunder really has me questioning whether I want to use them again. Several times in the past, I have called and talked to someone there about my loan. Later, either they forget we had a conversation, or the person who was supposed to get back with me never got the message. Here are some examples ...
1. I had to go there and bring some documents the lender requested. The lady called and left a message on my work phone mail. I called back and talked to the loan officer himself. I told him that the lady there called and I just wanted to let her know that I'll be in the next day anyway, since I had a meeting with him. He said he would let her know I called. Next day, before I left for the meeting, the lady called asking if I had got her message the day before. What?!?! I told her I spoke with the loan officer who was supposed to give her the message. she said she never got it.
2. A lady there called saying I needed to bring a check for the survey. The next day or so, I go there and give her the check. Several days later, she called to say she 'goofed' and the amount was wrong, so I had to bring them another one. So, I go back and give them another one.
3. The latest fiasco. I call my agent at work yesterday saying the HUD-1 is wrong as they are charging me for the survey again. She said she'll get in touch with the loan officer and let me know the scoop. I had to leave work and run some errands in the meantime. I get home and check my email, and my agent says the lady at the loan officer's place told her she is holding the survey check and will give it back to me at closing. So the HUD-1 is correct. What?!?! I double-check my check book and bank statements, and sure enough, the check I gave them a couple of weeks ago for the survey has already cleared! So I call my agent and tell her that the lady is wrong. She said she'll relay the info. A short while later, the lady at the loan officer's place calls me, and basically says the same thing she told my agent: their policy is to hold the check and give it back to me at closing. By now, I'm more than perturbed. I tell the lady I have no idea what check she's talking about since the check I gave them for the survey has alrady cleared my bank. I gave her the dates and the check number itself. She instantly started fumbling for words, and finally told me that they'll deduct the amount from the HUD-1. I'm still at a loss about how she claimed they hold the check when I have the cleared check. I'm guessing she was just going by policy and never even checked my file.
And these are the incidences that stick out - there were plenty more 'goofs' and 'ball droppings' that have went on. I really like the loan officer as he seems like a real good person to talk to and work with, but his staff has a lot of work to do.
So it's Friday morning, and I still don't have the corrected HUD-1. It was almost 5:00pm last night when I got off the phone with the lady at the loan officer's place to clear the matter up. So, I suspect I won't hear anything until at least 9:00am this morning, if not later.
Fun, fun. Joy, joy.
I also had a "discussion" with my wife last night. I had presumed by a talk we had earlier this week that she understood I was going to pay my RE agent out of pocket. She assumed no such thing. Her assumption was the settlement costs included the commission to my agent. So, imagine her surprise when I said the settlement costs will be $xxx, but including my agent's commission, it will be $xxx + $yyy. I still haven't discussed the final figure with my agent yet. I think I'll call the title comapny to first make sure she will not be getting paid by anyone else (I seriously doubt it, but I just want to make sure). Then I'll send her an email.
Despite what appears to be one headache after another with this deal, I'm still excited and still want to do more. :-)
BTW, I stopped by Lowes on the way home, and they have a kit that includes a front door locksets, and two other outside door locksets. Since it's all in a kit, it comes complete with 10 keys that work on ALL the locks. All that for $115. I figure I could probably go a little less with buying seperate hardware and getting them all rekeyed, but this saved me a lot of time shopping and waiting. Plus, $115 for three complete locksets that use the same key (and with 10, no less) was pretty cheap to me.
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Well, after looking over the HUD-1 again, they explicitly say not to call the title company with questions, but to call some person with an out-of-state area code. Being at work with no cell phone, means I can't call them. My wife got a call from the lady at the loan officer's office, and the info was sketchy, so I called the lady myself. Seems they are going to leave the HUD-1 amount as-is and the title company would cut me a check for the erroneous survey at closing. She said she talked with the HUD supervisor, and he made all the arrangements (anyone smell trouble?). The lady also apologized profusely and said they (her office) will need to streamline their process more so mistakes like this don't happen again. Well, yeah, I certainly hope so.
Also, this means I won't get concrete verification that my RE agent will be paid by them, but there is a section in the HUD-1 for that, and it is blank. Therefore, I am pretty sure she gets $0 from anyone at closing (unless it's from my own pocket). I sent her an email asking if she was going to be at closing, but no response yet.
I've found HUD-1 almost always have errors. The only one I've seen that didn't was for the purchase I just made. But it was an all cash deal with no contingencies, so there were no loan fees or inspection fees or anything. When you go to the signing, bring your cancelled check or a copy of it (both sides) to prove it was paid. Refuse to sign anything unless they change the HUD-1 or give you a check then and there.
Thanks Shaun. Good point! I printed out both sides of the canceled check just in case. Another couple of deals like this, and I think I can close just about any property. :-P
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