What is the name of your state (only U.S. law)? Illinois
I had applied with a mortgage broker, company A for refinancing my current home. They contracted an appraisal company and I paid for the appraisal upfront. When the appraisal came in I noticed their rates were no longer as favorable as other companies so I applied with another outfit, company B. This mortgage broker said they could take my original appraisal and wrote to company A to release it with via the proper form. Company A refused to release the appraisal even though I paid for it. I am afraid at this late juncture, I have lost the original rates I was shopping for and was guaranteed with company B
What are my rights in this matter regarding appraisals. Can I sue Company A for not only my right to my appraisal and their lake of professional practice in not following up with the other mortgage companies request (not to mention my potential lose of mortgage savings)?
I had applied with a mortgage broker, company A for refinancing my current home. They contracted an appraisal company and I paid for the appraisal upfront. When the appraisal came in I noticed their rates were no longer as favorable as other companies so I applied with another outfit, company B. This mortgage broker said they could take my original appraisal and wrote to company A to release it with via the proper form. Company A refused to release the appraisal even though I paid for it. I am afraid at this late juncture, I have lost the original rates I was shopping for and was guaranteed with company B
What are my rights in this matter regarding appraisals. Can I sue Company A for not only my right to my appraisal and their lake of professional practice in not following up with the other mortgage companies request (not to mention my potential lose of mortgage savings)?