What is the name of your state? Oklahoma
Yesterday my wife and I closed on our first home. Unfortunatly it was bittersweet due to the dishonesty of our mortgage broker.
In July we made an offer on a home, at which time the mortgage broker sent a good faith estimate for a 30yr fixed interest conv. loan and no PMI. The seller rejected our offer and we were unable to find another home until last month. We contacted our broker and asked for another good faith estimate to which he replied "I'll need to see the contract first." Needless to say even after receiving the contract he never sent another good faith estimate. As our closing date drew near the lender became hard to contact and would give us no information on the status of our mortgage. A week after our scheduled closing date he had finally sent the neseccary papers to the closer. When my wife and I went to close, several ugly surprises were waiting for us; $500 dollars in junk fees, double charged for the apraisal, and worst of all our loan now included PMI. I called the lender hoping it was a mistake but all he could do was apologize because he forgot to tell us. Because we only had a few days to move out of our apartment, we were pressed to go through with the purchase. Do we have any legal recourse against the mortgage broker?
Yesterday my wife and I closed on our first home. Unfortunatly it was bittersweet due to the dishonesty of our mortgage broker.
In July we made an offer on a home, at which time the mortgage broker sent a good faith estimate for a 30yr fixed interest conv. loan and no PMI. The seller rejected our offer and we were unable to find another home until last month. We contacted our broker and asked for another good faith estimate to which he replied "I'll need to see the contract first." Needless to say even after receiving the contract he never sent another good faith estimate. As our closing date drew near the lender became hard to contact and would give us no information on the status of our mortgage. A week after our scheduled closing date he had finally sent the neseccary papers to the closer. When my wife and I went to close, several ugly surprises were waiting for us; $500 dollars in junk fees, double charged for the apraisal, and worst of all our loan now included PMI. I called the lender hoping it was a mistake but all he could do was apologize because he forgot to tell us. Because we only had a few days to move out of our apartment, we were pressed to go through with the purchase. Do we have any legal recourse against the mortgage broker?