Need to know if this is normal?

getting a home purchase loan threw envision lending group.. got pre-approval. found a house. put a bid in.. put earnest money down. now this has been goin on for about 3 wks now. now the loan processor has found 3 things on credit report that needs taken care of.. we called these companies.. and THEY have no record of us.. so envision lending guy is going to send us a letter for us to sign to see if he can call them and have them deleted.. we have been trying to buy this house since march 7. Everytime we get close.. something new comes up. THEN our loan processor NEVER returns our calls or emails. SHE DISAPPEARS!! excuses excuses? What is going on.. THEN i do call the HEAD honcho%26#039;s and the loan processor get upset with us.. Are we being screwed? need advice

Need to know if this is normal?student loan

Your loan processor isn%26#039;t doing her job. Call her boss and ask to be reassigned.

Need to know if this is normal? loan

Lenders are changing the rules daily so your loan officer is probably just as frustrated as you are but she should at least acknowledge that and let you know what%26#039;s going on.

You must be intent on buying the home though since most PA%26#039;s are written that if you can%26#039;t get your financing you can get out of the PA (depending on how your agent wrote the paperwork)

With mortgage rules changing constantly ~ MOST folks are waiting to put in offers until they actually get the preapproval since pre qualify only means a loan officer has looked at pay stubs etc and thinks you should be able to get a loan based on the docs but the approval comes only after all documents have been reviewed by the lender and your loan is actually approved.

It%26#039;s frustrating and to get items removed from your credit can take up to 30 days (sometimes longer) Maybe if you tell your loan officer your on her side but you need to be kept informed and ask her what else you can do to help get the loan through (letter of explanation, copies of things already paid for etc) Then she might be more willing to call you to keep you in the loop.

I realize that isn%26#039;t fixing your dilemna but maybe understanding it better will alleviate some frustration. Good Luck|||The loan person isn%26#039;t doing their job for starters. A similar thing happened to my wife and I. You may lose out on this house, if the seller%26#039;s realtor thinks you%26#039;re taking too long. Start calling the supervisor of your loan officer.

But there%26#039;s a few things you can do to fix your credit problem. If the companies are saying they have no record of you, they should have the items removed. If not, go to www.annualcreditreport.com It is the government site to your free annual credit report. No strings attached. Get your credit report from all three credit bureaus. Then find the items in question and dispute them. There should be instructions on how to do this on each of your credit reports. If these companies are telling the truth and they have no record of you and it%26#039;s on your credit report, they are required by law to investigate and remove if necessary.

In my experience, even if it is a legitimate credit issue, many creditors will still remove the items if they%26#039;ve been paid. I had three companies remove bad debt from my record even though it was legitimate. It%26#039;s because it%26#039;s cheaper for them to just say %26quot;take it off%26quot; rather than investigate and prove the debt was/is yours.

Good luck, and be prepared, you may have to find a new house if it takes too long. But you will get your down payment back. Or at least should if the contract was written correctly.|||It can be so frustrating, and yet you will need to find the ability to be patience. The key to your approval does not rest with the loan processor(they are just the gather of the info) but with the under-writer. You did not say what type of lender your are working with, direct portfolio or not, it makes a difference in how the info is process. A direct portfolio lender can under-write on the spot and does not take the time to approve that a non-direct lender does. Having said all that the best way to ensure that you get a even chance with the loan processor is to ask her if there is anything else you need to do to help her process this loan, and then I would ask when is she/he going to submit it to the under-writer, usually when the under-writer gets it there will a couple of conditions, like an appraisal on the property, etc.

I would ask the processor if the loan has been submitted to the under-write yet? If, not I would suggest that is where I would focus my attention. The processor has a better chance then of knowing what the real issues with your loan may be. Do you have an agent and where is she/he? My last recommendation is do you have a rate lock on this loan if not that is something to think about.