It's me again. I did not know that my mortgage broker lied about my income until he told me after the fact. Yes he admitted it to me.He actually used it to tell me how hard he worked for me to get the loan. The original application was filled out in my home with one of his associates and I did not lie. I have requested copies of my file and applkication from him and he threatened me with an attorney. At one point he offered to get me out of this mess and blamed GMAC for putting me in the wrong loan. (they had my social wrong and he tried to tell me that i got someone elses terms). All he did was lie. I am not to blame. How can I get my file?
2007-08-29 07:40:01 · 7 answers · asked by t247267 2 in Business & Finance ➔ Renting & Real Estate
How are you gonna prove that the mortgage broker lied about your application? You signed it, now wheather you signed it later or after or you signed an application that was incomplete.
Now here is about how this will go. Mr Broker who put this income in the income block. The borrower because he signed the loan application. It is a policy in my company that we don't take incomplete applications.
Could it have been possible that someone changed the income, yes but not likely since I am the only one that have access to the file other than the processor and my manager that I discussed this loan package with.
Mr Borrower did you sign the loan application? Yes I did sign the loan application but that was not the income that I put in when I signed it.
The best thing to do is write a letter to the manager of the mortgage broker, tell him you are withdrawing your application because you no longer have faith in the loan officer assigned you.
If there are personal items in your file the are obligated to give it back to you, such as Social Security Cards, Drivers license, pay stubs, W-2 forms stuff like that.
If you want a copy of your loan application you may request it, they might provide you with a copy of all the information you submitted to them as well as a copy of your 1003 loan application.
If you go to another mortgage broker they are not interested in the other broker's paper work and will complete their own application on their own forms.
I hope this has been of some use to you, good luck.
'FIGHT ON"
2007-08-29 08:12:40 · answer #1 · answered by loanmasterone 7 · 0⤊ 0⤋
Believe me, I am sympathetic to your situation but the bottom line is that you signed the final application at closing that had the income as stated on it. This is why it is so important to read what you are signing.
That said, you are entitled to a copy of your original application. He can threaten all he wants, there is nothing wrong with giving you a copy of that application. He's just trying to cover his loan fraud.
Call the Finance Division in your state and find out who regulates brokers. File a formal complain with them.
If he works for a brokerage, call and ask to speak to the manager/owner. Get that person's name and send them a letter explaining what happened and what he told you. Demand a copy of the original application and compensation.
Once you have that application copy you have some evidence of his wrong doing.
The one good thing about the recent upheaval in this industry is that rats like this one won't survive.
Good luck.
2007-08-29 08:00:46 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You might win. The courts are sympathetic to home owners. The loan officer will go to jail and, if his company is still in business, you may get some money. However, It'll be a long hard-fought battle. The title company that closed your loan may have a copy of your docs.
I had people in the past beg me for a loan. They said that they didn't care what I did and that they would sign anything. They wanted that house! I am glad that I turned them away. I imagined this would be the result.
2007-08-29 08:52:53 · answer #3 · answered by ? 4 · 0⤊ 0⤋
Wow! First, you are legally obligated to recieve copies of your loan paperwork: unless there is some crazy law in your state, he HAS to disclose everything he has on you. Applications, TILs, GFEs, terms, etc. Even your appraisal - you get a copy of that too.
On the unfortunate side of this mess, you DID sign the final docs and they DID have the application that your broker sent to the lender. You have GOT to get yourself a lawyer. There is too much going on here (and the broker sounds like he's trying to hide stuff) to try to do this yourself. I'm sorry to say, but you need legal help!
2007-08-29 07:49:06 · answer #4 · answered by Chris 6 · 0⤊ 0⤋
What? What stage of the loan are you at? If you haven't gone to closing, what you do, is go to this guys office and get your originals and go somewhere else. You don't have to complete the loan with them. Then you would report them to the Real Estate Commission. He is offering you to get your out of what mess? Please e-mail me with more details.
2007-08-29 07:49:10 · answer #5 · answered by Brain 4 · 0⤊ 0⤋
One good attorney threat deserves another! but, make sure that it's a real estate attorney! There is one at every title company! Good luck
2007-08-29 07:45:37 · answer #6 · answered by helprhome 5 · 0⤊ 0⤋
This is illegal..report him.
2007-09-02 07:07:08 · answer #7 · answered by Jovesash 4 · 0⤊ 0⤋