Hurried through Mortgage Refi Loan in 1 week, missing documents - Loan Modification Forum

Virginia123 · 07-26-2009, 01:05 PM

Hi,

Just wondering if this sounds predatory to you? and what if anything I can do about it?

We refinanced our house in July 2007. They quickly hurried us through the whole process and we were not given documents at application.

Timeline (according to documents I have in my loan file)

Not sure of exact date of original application (I don't have a copy of the application, most likely around 7/10 or 7/11)

7/12 - Recieved GFE (Amount requested $69,225.86 to refi 2nd mortgage and other bills) also attached was Requirement to use IRE processing, Right to Recieve Copy of Appraisal, Becoming Financially Fit (explains loan process, what they need blah blah), You Have Options (about Prepayment Penalties, and seperate papers with Credit Scores for my husband and I.
**NO TIL in this batch of paperwork**

7/13 - Recieved another Right to Recieve Copy of Appraisal and You Have Options (about Prepayment Penaltries) **NO TIL included**

Somewhere between 7/13 and 7/18, Mortgage Co. decided to do First Mortgage on the whole loan including my bills for $268,000+ - No new application was made, received no new discloures, no new GFE, still NO TIL

7/18 - Recieved First Mortgage Loan Disclosure Required By Virginia Law (law is Virginia Code § 6.1-2.9:5 - Disclosure of terms of mortgage application, it states in the code it should have been given to us at application) **NO TIL or GFE**

7/19 - At Closing - Finally get TIL stated directly on loan agreement/note, GFE for new loan amount, Deed of Trust, HUD-1A, Loan Summary, Payment notice, Right to Cancel (all 4 copies), Waiver of Escrow, other documents, All this was given to us at closing with the Attorney (they chose, we weren't given a choice)). We never had anytime to review anything, none of this was given ahead of time!

Sorry this is so long, but we are just trying to get some kind of leverage so they will help us with a permanent loan mod or principal reduction.

What if any violations or laws are broken here? Is there anything that even matters?

I'm sending a QWR tomorrow mostly because I really want to see loan application, how it is dated and how they figured our incomes.

Please answer if you can!!!

Thank you so much!!!

07-26-2009, 01:05 PM	#1 (permalink)
Virginia123 Member Join Date: Jul 2008 Posts: 12 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Hurried through Mortgage Refi Loan in 1 week, missing documents Hi, Just wondering if this sounds predatory to you? and what if anything I can do about it? We refinanced our house in July 2007. They quickly hurried us through the whole process and we were not given documents at application. Timeline (according to documents I have in my loan file) Not sure of exact date of original application (I don't have a copy of the application, most likely around 7/10 or 7/11) 7/12 - Recieved GFE (Amount requested $69,225.86 to refi 2nd mortgage and other bills) also attached was Requirement to use IRE processing, Right to Recieve Copy of Appraisal, Becoming Financially Fit (explains loan process, what they need blah blah), You Have Options (about Prepayment Penalties, and seperate papers with Credit Scores for my husband and I. NO TIL in this batch of paperwork 7/13 - Recieved another Right to Recieve Copy of Appraisal and You Have Options (about Prepayment Penaltries) NO TIL included Somewhere between 7/13 and 7/18, Mortgage Co. decided to do First Mortgage on the whole loan including my bills for $268,000+ - No new application was made, received no new discloures, no new GFE, still NO TIL 7/18 - Recieved First Mortgage Loan Disclosure Required By Virginia Law (law is Virginia Code § 6.1-2.9:5 - Disclosure of terms of mortgage application, it states in the code it should have been given to us at application) NO TIL or GFE 7/19 - At Closing - Finally get TIL stated directly on loan agreement/note, GFE for new loan amount, Deed of Trust, HUD-1A, Loan Summary, Payment notice, Right to Cancel (all 4 copies), Waiver of Escrow, other documents, All this was given to us at closing with the Attorney (they chose, we weren't given a choice)). We never had anytime to review anything, none of this was given ahead of time! Sorry this is so long, but we are just trying to get some kind of leverage so they will help us with a permanent loan mod or principal reduction. What if any violations or laws are broken here? Is there anything that even matters? I'm sending a QWR tomorrow mostly because I really want to see loan application, how it is dated and how they figured our incomes. Please answer if you can!!! Thank you so much!!!

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode