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Private Lending & Conventional Mortgage Advice

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Steven W.
  • Investor
  • SAN FRANCISCO, CA - California
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78
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Terrible Service from Mortgage Loan Officers?

Steven W.
  • Investor
  • SAN FRANCISCO, CA - California
Posted Apr 3 2015, 11:02

Is everyone else finding that loan officers are completely unresponsive and unprofessional? I own 8 SFRs, and am looking to refinance several of them either to pull out some equity or to lower interest rates. These are complicated scenarios, and would take some work on their part, but I'm astounded by the lack of communication from these folks. 

For example,

A Colorado lender who promises to keep getting back to me to start the "three easy steps" to begin our relationship, but who still has failed to do so after 2 months and numerous emails.

The local lender who asked for my documentation, and after receiving it, said he would get back to me in three days. It's been about two weeks, and after various attempts at communicating, zilch.

Another lender who is supposed to get back to me by the end of the day after speaking to their underwriter. That was I think 5 days ago.

So, what gives? Is this normal out there? What's an investor to do?

Steven

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