I don’t make this stuff up folks. It is getting to the point where I think loan officers need to seriously think about who they do business with. It matters zero how low the rates are for this lender if they can’t close or create an atmosphere where it is so difficult to work with that it places stress on your long term business relationship with your customer:
A fully executed, signed and on-time delivered loan package was rejected resulting in a full re-draw due to:
“the vesting on the Deed of Trust said, Husband and Wife, instead of Wife and Husband.”
This is an extremely easy fix, but yet it was rejected. No progress was made in trying to convince the lender how absurd this was nor how foolish the lender looks to the professionals involved in closing the transaction, never mind how dumb they look to the borrowers who have every right to request another lender. This places the borrowers loan lock in question and adds expenses including wastes an unbelievable amount of time that could be spent on transactions placed with lenders that have their act together.