http://www.fhaloanpros.com/2007/10/lender-malpractice-is-there-such-a-thing/ The Unofficial Guide to FHA Loans & Mortgages Sun, 08 Nov 2009 02:25:40 +0000 http://wordpress.org/?v=2.6 http://www.fhaloanpros.com/2007/10/lender-malpractice-is-there-such-a-thing/#comment-39623 sunshine Tue, 27 Jan 2009 05:26:27 +0000 http://www.fhaloanpros.com/2007/10/lender-malpractice-is-there-such-a-thing/#comment-39623 Does a bank have a duty to follow through on a mortgage or may it impose unreasonable terms in order to make sale fail. Does a bank have a duty to follow through on a mortgage or may it impose unreasonable terms in order to make sale fail.

]]> http://www.fhaloanpros.com/2007/10/lender-malpractice-is-there-such-a-thing/#comment-23055 Borrower #1 Wed, 20 Aug 2008 20:51:04 +0000 http://www.fhaloanpros.com/2007/10/lender-malpractice-is-there-such-a-thing/#comment-23055 I agree completely that there should be lending laws that are much tighter than what is out there. A lender gave me bad advice and as a result I was not able to refinance my mortgage. He never even asked for proof of my income and as a result he figured my debt to income ratio as 64%. He based this on an income that was about 9k short of what I actually made. Then he advised me to consolidate my student loans which made things worse. And a year later when he did ask for proof of income I find out he did not know what my income was when he refused a loan a year ago. There is much more to this but because of this I am writing all of my state and federal representatives in Congress to ask that the lending laws and practice follow strict guidelines. I agree completely that there should be lending laws that are much tighter than what is out there. A lender gave me bad advice and as a result I was not able to refinance my mortgage. He never even asked for proof of my income and as a result he figured my debt to income ratio as 64%. He based this on an income that was about 9k short of what I actually made. Then he advised me to consolidate my student loans which made things worse. And a year later when he did ask for proof of income I find out he did not know what my income was when he refused a loan a year ago. There is much more to this but because of this I am writing all of my state and federal representatives in Congress to ask that the lending laws and practice follow strict guidelines.

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