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Discussion Starter #1
I need help!! Im here in MD refinancing my Mortgage, Its been a long story but now the Loan officer that I signed papers at the office has left and gone somewhere else, The company I signed papers with says they keep the loan(which I believe that), but the guy that left says he keeps his clients and takes them to his new Company, what are my options here?

Its been a struggle and I just want it over, I dont trust the loan officer for what he did in the last few weeks but gave him a second chance, now he walked out and went to a diffrent company, isnt him taking my information with him illegal?

thanx for all the help,


luis
 

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I would suspect that until you sign official loan papers, you are not commited to the loan.

Additionally, to dot your i's and cross your t's, if you have not signed loan papers, I would draft a letter to each party and communicate with them your intent to cancel all transactions with them.

Or - if you are keeping one and not the other, draft appropriate acceptance and cancellation letters to each.

In the cancellation letter, communicate clearly and consisely, that you are not accepting any further loan work from them, and that all loan work from them will be null and void. And you will not accept any offers from them, or execute any contracts with them.

If you've already signed loan docs, you probably have to take what you got though.
 

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Discussion Starter #4
I have signed official paperwork, and as the company says its stays with the company as law, thanx for your help :cheers:
 

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COUTO1981,

Depends whether, the firm is licensed by the MD "Department of Corporations," or the MD, "Department of Real Estate."

You are client of the firm or broker. The firm or broker has duty to you as well, unless, "agency," is terminated upon mutual agreement. Again, in many cases, the choice is up to you and them.

However, he who paid for the, "appraisal," actually owns it.

GR
 

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Discussion Starter #6
Grim Reaper said:
COUTO1981,

Depends whether, the firm is licensed by the MD "Department of Corporations," or the MD, "Department of Real Estate."

You are client of the firm or broker. The firm or broker has duty to you as well, unless, "agency," is terminated upon mutual agreement. Again, in many cases, the choice is up to you and them.

However, he who paid for the, "appraisal," actually owns it.

GR

I paid directly to the apraisal caompany, but I spoke to the apraiser today and they will only honor the appraisal for the company that order it, It only makes sense, I signed the paper in their office so I'll stick to the company I started with with a new Loan officer :cheers:
 

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Your, appraiser would be correct. The mortgage company would have to provide a release to the appraiser, from a written demand from you to the mortgage company. They have ten days from you rwritten demand. Good luck with your refinance.

In case you are curious. Fannie/Freddie underwriting guideline. Appriasal has to be in the name of the lending institution.
 
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