I was supposed to close on my home 3/11/08. My mortgage broker was Martin Smith. He assured me that my 6.75 percent, 30 year-fixed loan was approved and that my lender would be Citibank or US Bank. I was apprehensive at first because no documentation had been sent over to me to support his assurances He told me that my file was in the underwriting department as of the last week of February. He promised to send over the approval letter several times over the next week and never did it.
When I attempted to inquire about the status of the loan, he would ignore my calls and only answer part of my emails. He even sent me a "snapshot" of his Desktop Underwriting page on his computer. Then he told me that he locked me in with Homecomings Financial (which is NOT one of the lender he told me I would have) and that he would be sending me the approval letter via email on 2/28. Once again no letter was sent to me.
The final week before closing, he told me he was still working with the underwriter. How could he still be working with the underwriter if our file was approved??!? We asked him constantly if he would be able to close on time and he still said yes. He refused to return calls from our realtor and us. The day before our closing was scheduled we still received no contact from him. He never called us, we always had to contact him and as a result of his cowardice, we have lost $1600 because he assured us that financing would be in place. He disappeared without so much as an explanation. Please go to a bank and NEVER use this loser, because you will be out of cash, out of luck with no where to go.
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