K & K Contractor

As I stated in the previous response - I would be happy to discuss the issue with the customer on the specifics on why the loan was declined I guess the easiest way to explain it is the initial application had a lot of questions After we helped the customer straighten things out another lender would not have the same issues As far as the Appraisal the customer is responsible for the costs and this is an industry practice Appraisal costs are never contingent on a loan closingI would also think the other lender would have asked for it if they knew you already applied for a loan and paid one The Home Inspection is something we encourage customers to have done so they have a professional go though the house and let them know if there is anything they have to address with the seller before they buy the house It is for their own protection They can decide they do not want to do it and that is up to them.I would be more than happy to discuss this further if the customer would like

We do understand the frustrationUnfortunately we are not the end investorWe tell all customers that the funds must be in their own bank account for days prior to closingIf not seasoned must be supported with proper documentation and paper trailThe documentation submitted was not supportive to our investorAlso documentation submitted caused the underwriter to ask for additional information and again was not supportive for the file so there were no stalling tactics just us trying to get the proper documentation to support the concernThe loan did not close because the documentation was not acceptable to the investor and did not satisfy there underwriting requirements Since our issue was the sourcing and seasoning of funds the money was already moved prior to working with another lender so it would not be an issue As I previously stated, information that was on the loan application had to be verified and documented There was information that was on the loan application that had to be addressed We helped her rectify that issue, but we needed an explanation for discrepancy That answer was not satisfactory to the investor This issue would not been a problem for us or any other lender because of the amount of time that lapsed after we helped get the issue rectified after As far as the appraisal and home inspection, we always advise people to invest in a professional home inspection for their protection It is up to them to choose to do that if they wish As far as the appraisal, we have the customer pay for that That is part of the process of getting a mortgage to buy a house That is standard industry practices weather or not the loan closes I believe the other lender should have been able to use it because FHA appraisals are transferable I am not sure why they would not have done that We would like to have the customer contact us so I can go over everything that went on through the process and also explain the specifics on how we did set her up for success with the new lender she chose to go with

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this does not resolve my complaint For your reference, details of the offer I reviewed appear below The file was denied because I was told by [redacted] to write my paycheck early and deposit it, also move other monies around to get the verificationShe should have never told me to do that.Every lender I have spoken to and told about what happened said that she NEVER should have told me to do that and the other issues with the loan closing and the stalling are poor company practicesAlso the company NEVER even once called my employer or accountant to verify anything! The new lender called both employer and accountant to verify things and the loan closed without issueI feel that due to [redacted] 's unprofessional and poor choices regarding this file are THE reason the loan never closedI feel that I should be refunded the monies for the appraisal and the inspection Regards, [redacted] ***

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this does not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
The file was denied because I was told by [redacted] to write my paycheck early and deposit it, also move other monies around to get the verification. She should have never told me to do that.Every lender I have spoken  to and told about what happened  said that  she  NEVER should have told me to do that and the  other  issues with the loan closing and  the stalling are poor company practices. Also the company NEVER even once called my employer or accountant to verify anything! The new lender called both employer and accountant to verify things and the loan closed without issue. I feel that due to [redacted]'s unprofessional and poor choices regarding this file are THE reason the loan never closed. I feel that I should be refunded the monies for the appraisal and the inspection.
Regards,
[redacted]

As I stated in the previous response - I would be happy to discuss the issue with the customer on the specifics on why the loan was declined.  I guess the easiest way to explain it is the initial application had a lot of questions.  After we helped the customer straighten things out another lender would not have the same issues.  As far as the Appraisal the customer is responsible for the costs and this is an industry practice.  Appraisal costs are never contingent on a loan closing. I would also think the other lender would have asked for it if they knew you already applied for a loan and paid one.   The Home Inspection is something we encourage customers to have done so they have a professional go though the house and let them know if there is anything they have to address with the seller before they buy the house.  It is for their own protection.  They can decide they do not want to do it and that is up to them.I would be more than happy to discuss this further if the customer would like.

We do understand the frustration. Unfortunately we are not the end investor. We tell all customers that the funds must be in their own bank account for 60 days prior to closing. If not seasoned must be supported with proper documentation and paper trail. The documentation submitted was not...

supportive to our investor. Also documentation submitted caused the underwriter to ask for additional information and again was not supportive for the file so there were no stalling tactics just us trying to get the proper documentation to support the concern. The loan did not close because the documentation was not acceptable to the investor and did not satisfy there underwriting requirements.  Since our issue was the sourcing and seasoning of funds the money was already moved prior to working with another lender so it would not be an issue.  As I previously stated,  information that was on the loan application had to be verified and documented.  There was information that was on the loan application that had to be addressed.  We helped her rectify that issue, but we needed an explanation for discrepancy.  That answer was not satisfactory to the investor.  This issue would not been a problem for us or any other lender because of the amount of time that lapsed after we helped get the issue rectified after.  As far as the appraisal and home inspection, we always advise people to invest in a professional home inspection for their protection.  It is up to them to choose to do that if they wish.  As far as the appraisal, we have the customer pay for that.  That is part of the process of getting a mortgage to buy a house.  That is standard industry practices weather or not the loan closes.  I believe the other lender should have been able to use it because FHA appraisals are transferable.  I am not sure why they would not have done that.  We would like to have the customer contact us so I can go over everything that went on through the process and also explain the specifics on how we did set her up for success with the new lender she chose to go with.