Wanting the Loan officer to put skin in the game. Is this possible?
So, I'm selling a property and I know this USDA mortgage broker is just telling me (the seller) whatever i want to hear. I've heard it before, we all have.....
Is there any way to get this guy to suffer some sort of loss (and Ideally me some sort of gain) if he can't follow through with the timelines he claims he can produce? My last 3 USDA loans in various areas took 75 days, 105 days and an ALARMING 172 days. He is claiming 45 days no problem.....same story i heard on the last 3.
Would love to have him put a few thousand dollars in escrow as some type of performance deposit but I fear regulatory issues might not allow that?