I have been working a deal on a lovely home in Plano. Listed for $284,000; contracted at a great price for a super-fun couple relocating to the area from the east coast. Everything is going great, except for one major flaw. This one is equivalent to the old joke…”Other than that, Mrs. Lincoln, how did you like the play?”.

Over the last three years, I have closed over 85 transactions, so I have a pretty good sample to consider when I say this is the WORST communication I have ever had with a mortgage company. Today, we are 10 days past the original contract date to closing, and I have just counted 12 unreturned calls and e-mails that I have sent to the mortgage contact. My buyer is constantly being pressured by the sellers, we call looking for answers - and the mortgage person will not answer, or even return phone calls.

Today’s mortgage climate is very tight. In years past, a mortgage request could easily get thru underwriting in 5 days. Now, with all of the issues regarding mortgages, underwriting is commonly taking 21 days. This is why now, more than EVER, the mortgage broker has to be communicative…not only with the buyer, but the buyer’s agent AND the title company. My client says she has communicated with the mortgage contact a few times, but every deadline she mentioned has been missed.

“Documents will be there by the end of the day Friday”.

Deadline comes, and no docs. I have heard nothing. Title Company has heard nothing.

“Documents will be there first thing Monday morning”.

Deadline comes, and no docs. I have heard nothing. Title Company has heard nothing.

“Documents will be there first thing TUESDAY morning”. (notice how the deadline keeps shifting)…

Deadline comes, and no docs. I have heard nothing. Title Company has heard nothing.

All it would take is one 5 minute phone call to me, and one 5 minute phone call to the title company to set the timetable. Instead, we rely on heresay from the buyer and there is no tangable communication from the entity ACTUALLY SUPPLYING the money. It has caused a great upheval in the transaction.

All I will say here is this mortgage company is in San Antinio. If you want the specific name, I will be happy to give it to you. If you are going to use this person, please consider thoughtfully. If this experience is the normal way she operates, you are putting your transaction in jeopardy.