Bad Loan Processing, Lock Expired, What Now?

[Ian Crane]

I put an offer in on my first deal on May 1st this year. My rate lock at 4.25% in the GFE expired on June 17th. After months of poor communication and performance on their end, I finally got final approval to close on Friday, July 19th. Then, as per usual I heard nothing. I followed up on the 22nd and am told that Title will have the documents that day or by the 23rd at the latest. That was yesterday. Today I followed up again and was told that they were trying to get the documents, but since the market has shifted they are working on pricing and that the processor’s manager was supposed to have gotten back to me. I called him and left a voice mail.

Then I sent an email expressing how disturbing it is to be possibly charged extra for their poor performance. Intellectually I know it’s a bad idea to send such emails while emotionally charged, but I did it anyway. I’m so upset. Does anyone have any advice how to steer this so they just go with the original good faith estimate?