What is the name of home state ? California 
A month and a half ago loan was closed in California for single family house.
The lender and broker were out of state. Everything went ok. In escrow instruction lender & broker mentioned nothing about settlement of collection as condition of obtaining the mortgage. Escrow was successfully closed and loan got funded. Yesterday I was contacted by broker making loan demanding payment of an old collection account that was on credit report, or suffer legal consequences or default of mortgage.
Firstly I dispute the collection account (lease commitment), secondly can a mortgage broker demand paying a collection account 2 months after the close of escrow. If lender or broker had an issue why didn't raise it before sanctioning of the loan. Why now ? Can they call off the loan just on this even though I make payments on time and fullfill all obligations of the note.
A month and a half ago loan was closed in California for single family house.
The lender and broker were out of state. Everything went ok. In escrow instruction lender & broker mentioned nothing about settlement of collection as condition of obtaining the mortgage. Escrow was successfully closed and loan got funded. Yesterday I was contacted by broker making loan demanding payment of an old collection account that was on credit report, or suffer legal consequences or default of mortgage.
Firstly I dispute the collection account (lease commitment), secondly can a mortgage broker demand paying a collection account 2 months after the close of escrow. If lender or broker had an issue why didn't raise it before sanctioning of the loan. Why now ? Can they call off the loan just on this even though I make payments on time and fullfill all obligations of the note.
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