WEAK, UNRESPONSIVE LENDERS AND HOW TO DEAL WITH THEM

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Due to the Dodd Frank Act (Google search: Repeal Dodd Frank), which is to blame for the current over-regulated mortgage market, many lenders have had to resort to basing part of their LOs (loan originators)  compensation on "APPLICATION QUOTAS."  

This is the reason why borrowers encounter such sudden refusals to return emails and phone calls from their LO after they sign up to proceed with the loan.

...."Well Steve, we were approved with ABC lender, but soon after we began the loan, the loan officer suddenly wouldn't return our calls and emails and we have a contract closing date in 2 weeks!"   

1.  you were never approved with ABC lender, so get that out of your head right now.  You are a victim of some LO needing to meet an application quota and have a better chance in seeing Elvis in K-mart before you could ever qualify for that loan program you signed up on.

2.  you shopped the internet like a maniac, contacting every pop up on your screen offering ridiculously low rates, all to save an .125 in rate, equal to about a tax deductible 40.00 mo, on a loan you likely won't even have for over 60 mo. before you refi or sell the property anyway