Friday, November 3, 2017

Story of The Week - Fraud?

So, one of my sweet sellers has her home in escrow. Buyers are due to remove their final loan contingency and the lender starts to go silent as soon as I start asking if we'll be ready on time to do that.

Lender had been difficult to communicate with, but on Monday it went to radio silence when final contingency was due to be removed Wednesday.

After 6 attempts, + 2 to her branch manager, their Facebook group page as well....I finally got a call back and an e-mail back. The results? They were not allowed to speak with me. I said, excuse me? We need to know what's going on. Nope, they were instructed by borrower not to give me any info.

My escrow team is fantastic. They, of course, had been in conversation with the actual loan processor and got a very disturbing message that said the file was in their Fraud department. Escrow had received a message a few days before that they were waiting on a condition explaining something on one borrowers part.

I could share the full history with you, but it's intense to say the least. Lender said good to go, one condition that needed clearing would be easy-peasy....that was 3 weeks ago.

So, we send a Notice to Buyer to Perform, 2 days, shit or get off the pot as my mom always said.

We are at day 2 of that notice. Lender is only communicating with buyers agent. New lender doesn't want to confirm fraud, but the info from her....and the info escrow received from loan processor....plus the radio silence?

Something is amiss and we're not waiting. Back-Up buyer? Thank you for still hanging in there!

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