My wife and I began working with RHL in July. I'm active duty military and had to deploy to the Middle East in August and I made RHL aware of this in July. After dozens of e-mails were sent between RHL and I to ensure closing would take place in late February I returned home on leave to close on the house o/a February 25.
Upon my arrival, RHL began to request additional documentation to support our home loan request. Naturally I began asking questions about the timeliness of these requests as to why these documents were not requested previously instead of at the last minute. RHL had no reason for these last-minute requests.
Subsequently, RHL began making unnecessary demands to purposely delay the closing process. RHL knew I would only be home until March 12. Because my wife and I paid off some creditors in February RHL, particularly Kathryn C... Ll, began to insist we close these accounts that reflected zero balances. It appeared to us that RHL was attempting to get us to close these accounts so it would benefit their company when they sold our home mortgage loan.
In addition, Kathryn C. Ll began to insist the seller was only paying 3% of the cost of the house towards closing costs when the contract clearly stated the seller was paying the closing costs, with no stipulations listed.
In any event, Kathryn C. Ll said the remainder of the money would come out of our earnest money and upgrade money we put down on the house - WRONG ANSWER.
After we told Kathryn C... Ll this was not negotiable and was not going to happen, she and her other employees, dalfajsld and Stephanie B... Tried other methods to ensure we received back as little as possible. RHL had seven months to finalize this deal and they failed miserably.
This process began with us working with Stephanie B... Everything appeared to be going smoothly until Kathryn C... Ll got involved. She tried to find every little loop-hole possible to raise our interest rate. I've included a string of e-mails below as justification for this report.
Bottom line - DO NOT USE RESIDENTIAL HOME LENDING if you intend on purchasing a home. They only look out for themselves and have absolutely no interest in buyer's concerns. If they can make $. 50 off a buyer, they will.
The major problem with this company is Kathryn C... Ll because she is arrogant and has the mentality that she knows everything about everything, without being open to suggestions. I spoke to her once when she had us on speakerphone and she had other employees in the office with her. She talks to the employees like they are beneath her and in the most unprofessional manner. The employees appeared to be intimidated by her, which was shown in their responses.
In an e-mail dated February 23 (below), you will see the manner in which I set her straight, subsequently changing her attitude. I let her know I was not going to tolerate her elementary type behavior and that I did not need her or RHL.
The end result is we fired RHL as our lender and used another lender with much better personalities, a better class of people and provided outstanding service. Kathryn C... Ll was clearly the person who drove this process down a dead-end street, using the services of Michelle W... And Stephanie B...
Prior to closing, the new lender required an appraisal. Since we were in a time crunch to close on the house, the new lender requested to purchase the appraisal from RHL. RHL said the cost of this appraisal would be $550.00. As you will see in the e-mails below, Kathryn C... Ll initially stated the appraisal cost would be upward $250.00. Then in another e-mail, she said it would be $395.00 and since we fired them as our lender, RHL increased the price of the appraisal to $550.00, which apparently was out of frustration.
I also have an Affiliated Business Arrangement Disclosure statement from RHL that states the appraisal costs will not exceed $450.00. RHL will be better off without the services of Kathryn C... Ll. Once RHL part ways with Kathryn C... Ll, they can began the process of rebuilding their reputation as a credible source for home lending. Kathryn C. Ll is the reason I'm writing this report.
Original Message
From: Michele W...
To: 'E... Xxxx'
Cc: 'Stephanie B...' ; D... Xxxx
Sent: Sunday, March 11 02:36
Subject: RE: [Spam] Re: LOAN DOCS
Hi Mr. Xxxx,
With the xxx program you have chosen, you will not need to pay off the XXXX accounts with balances of $XX, XXX. And $XX, XXX. Enjoy this beautiful weather we are having this weekend. Thanks.
Michele W...
Original Message
From: E... Xxxx
To: Michele W...
Cc: 'Stephanie B...' ; D... Xxxx
Sent: Saturday, March 10 04:45
Subject: Re: LOAN DOCS
Thanks for the information Mrs. W... I'd like to ask a question. We had two creditors whose monthly payments totaled approximately $XXX. X (xxxxx-$xxx & xxxx xxxxxx $xxx). Both of these balances were in excess of $X, XXX. XX each. If we had paid everything else off except for these two creditors, would we be required the aformentioned debts off prior to closing? I really don't think so. I still have yet to see why we are required to pay off the XXXXXX loan prior to or at closing. Why are we not required to pay off the XXXXXX automobile loan as well? I am requesting someone provide me with an explanation on these concerns.
In your e-mail below, you mentioned "xxxx xxxxx xxxxxxxx xxxx program" we will need to pay off this loan. Before you were aware of which loan program we had selected (per your e-mail below), yourself and Kathryn both had been stating we must pay this loan off. Why now are you saying we must pay this off "xxx program?" Is this decision program specific? It appears with the 30 yr x xxxx, RHL was making the same demand.
Personally, I feel RHL is trying to get us to pay off as much debt as possible for at least two reasons. (1) Because RHL is aware we have money being returned to us at closing and (2) To provide a future benefit for RHL when selling the loan to another financial institution. We are requiring additional documentation that justifies us having to execute this payoff. So far, all we have been told is "we must pay off this loan" without explanation.
I understand as an employee of RHL, you would naturally look out for the company's best interest. Likewise, we are looking out for ours. We had intended all along to pay this off, but we will not be told when and/or how to pay our own creditors and we do not appreciate this gesture from RHL. If RHL had asked us to satisfy this loan, that would have been different but we have been told we had to pay this off. We are suggesting RHL cease the unnecessary demands and allow us to close on the house.
We'll await the appraisal and the specific justification for us paying off this loan. Please enjoy your weekend as well. Thanks.
E. Xxxx
Original Message
From: Michele W...
To: E. Xxxx
Cc: 'Stephanie B...' ; D. Xxx
Sent: Saturday, March 10 03:56
Subject: Re: LOAN DOCS
Good evening,
With the xx program, you will not need to pay off the XX account at closing. We have sent closing instructions to the title company and they will be able to work up a HUD-1/Settlement statement Monday morning. Appraiser is working to finalize appraisal over the weekend. Feel free to send me any of the funding items you might receive this weekend.
*Evidence of sale of current home located Xx.netting no less than $-0- to you and Mrs. X and pay off of Xxx Home Mortgage. This documentation will be a certified copy of the HUD-1/Settlement statement from the title company closing your sale.
*Evidence the seven revolving debts have been paid in full and accounts closed. Documentation can be either letters from the creditors or monthly statements to support accounts paid in full. If accounts not closed, we can provide letters for you and Mrs. X to sign at closing requesting the accounts be closed.
Have a good weekend,
Michele
Original Message
From: Michele W...
Sent: Thursday, March 08 6:52 PM
To: 'E. Xx'
Cc: 'Stephanie B...'; 'D. Xxx'
Subject: Re: LOAN DOCS
Mr. Xxx,
Let me get with Stephanie in the morning on the specific loan program you have chosen. I understand you are looking at x x program. Once I get the specifics, the qualifying ratio may not require this debt to be paid off. That would be great news to you and we would not need to obtain that additional paperwork. I will let you know. Thanks.
Michele W...
Original Message
From: E. Xx [mailto: E. Xx]
Sent: Thursday, March 08 4:05 PM
To: Michele W...
Cc: 'Stephanie B...'; D. Xxx
Subject: Re: LOAN DOCS
Mrs. W..., I'm sorry but I do not agree. Please send me the differences in ratios and payments so D. And I can make a determination. This does not make sense to us. If we had not paid off the other debt, we were still approved for the loan so why is this particular loan any different?
Please send us the differences in the ratios and payments to reflect the XXXX loan paid off and ratios and payments with it not paid off. It's appearing like we can't pay our own bills. Our credit score is in excess of XXX so I'm confident we can handle our finances.
It appears someone is trying to take our $XX, XXX. XX away from us. This was not "conditional" earnest money ($X, XXX. XX) or "conditional" money towards the upgrades ($XX, XXX. Xx). We were told this money would be refunded to us at closing and we would be able to do 100% financing. We fully expect that check in our hands at closing and nothing less.
If not, we will have major issues between the two sides and the closing will not go through. We'll await the differences in ratios / payments so we can make the determination. Once we've verified the information, we'll follow up with you and let you know how we would like to handle this. Thank you.
E. Xx
Original Message -
From: Michele W...
To: 'E. Xxx'
Cc: 'Stephanie B...' ; D. Xx
Sent: Friday, March 09 00:05
Subject: Re: LOAN DOCS
Hi Mr. Xx,
We are including the automobile debt in the qualifying ratio so it does not need to be paid off. For qualifying purposes, the other X debt does need to be paid in full. The amount will be added to the settlement statement so that it is disbursed at funding to reflect the account paid in full.
Thanks,
Michele
Original Message
From: E. Xxx [mailto: E. Xxx]
Sent: Thursday, March 08 1:58 PM
To: Michele W...
Cc: 'Stephanie B...'; D. Xx
Subject: Re: LOAN DOCS
Mrs. W..., thank you for the update. With regards to the XX debt of $X, the first question I have is who said or assumed this was or would be paid off at or prior to closing? I have several e-mails between Stephanie and I stating exactly which creditors would be paid off. Not once did I say we paid off this particular debt. With the way this particular debt is being handled, why is the other XXXX loan for our automobile not being treated in the same manner? Do we have to bring evidence of the automobile being paid off to closing as well? Will this prevent us from closing?
Please base our loan on our current debt which are our two loans with XXXXXXX. We are not required to settle either of these loans during or prior to closing. I really don't understand why this has even become a discussion topic. When we receive our $XX, XXX. XX back at closing via certified check in our hands, we will take care of this loan. That is what I told Kathryn over the past couple of weeks, including three times within a 24 hr period but maybe this was not passed on to you.
To satisfy this loan has been our intent all along and if it were not our intent, no one has the authority to direct us on how to spend our money. This loan is only $XXX. XX per month so since the lien was factored into our previous ratios (per Kathryn), the lien is no longer a factor and the loan for $XX, XXX. XX is.
As for our current home loan being satisfied and proof our creditors have been paid is not a problem.in fact, I'll send proof this debt has been paid off within the next day or so. This will (hopefully) shorten the length of time we spend at closing.
Up until about three weeks ago, it didn't appear to be any issues with regards to getting our loan approved. Over the past three weeks, we have witnessed several unbelievable personalities and behaviors. We'll be very happy when this is all over and I'm sure everyone else involved will be as well.
Thanks again for the update and please make it a great day. We're almost there.
E. Xxx
Original Message -
From: Michele W...
To: 'E. Xxxx'
Cc: 'Stephanie B...' ; D... Xxxxxxxx
Sent: Thursday, March 08 21:35
Subject: Re: LOAN DOCS
Good afternoon Mr. Xx,
The information you submitted yesterday completes the gift and XXX XXXX documentation. I have attached a copy of the insurance we received for your review. Appraisal still being worked on by the appraiser. I understand Stephanie is working with you on interest rates to finalize program. Once final program is determined and acceptable appraisal received, we will send out the closing documents to the title company.
Funding conditions required at closing will be as follows:
*Pay off of Xx debt (estimated balance $XXXXX.) - This will be included on the HUD-1/Settlement statement so that it can be paid off at closing. We need a copy of the pay off notice from Navy Federal Credit Union so the title company will know the specific amount to collect and where to send the payment. Let me know if you can provide this to me by tomorrow so I can forward to the title company. They will need in order to complete HUD-1/Settlement statement prior to you signing closing documents.
*Evidence of sale of current home located at XXXX Xxxxxxx Xxxx Xx.netting no less than $-0- to you and Mrs. Xxxxxxxxx and pay off of Xxxxx Xxxxx Xxxx Mortgage. This documentation will be a certified copy of the HUD-1/Settlement statement from the title company closing your sale.
*Evidence the xxxxxxxx revolving debts have been paid in full and accounts closed. Documentation can be either letters from the creditors or monthly statements to support accounts paid in full. If accounts not closed, we can provide letters for you and Mrs. Xxxxxxxxx to sign at closing requesting the accounts be closed.
If you are able to provide any of these items tomorrow, this will help expedite the funding of your loan. Thanks.
Michele W...
Original Message-
From: E. Xxxxxxxx [mailto: E. Xxxxxxxx]
Sent: Wednesday, March 07 5:39 PM
To: Michele W...
Cc: 'Stephanie B...'; D. Xxx
Subject: Re: LOAN DOCS
Mrs. W..., attached are the documents you requested. The funds transaction posted to our account on 9 Feb 07. I also attached the xxxxxx xxxxxxxxxxxx from the state of Xxxxxxxxxxx. If you have any questions, please let me know. Thanks.
E. Xxx
Original Message -
From: Michele W...
To: E. Xxx
Cc: 'Stephanie B...' ; D. Xx
Sent: Wednesday, March 07 22:18
Subject: Re: LOAN DOCS
Hi Mr. Xx,
If family members sent funds electronically to your bank, gift documentation acceptable to FNMA would be as follows:
*Copy of your bank statement reflecting the incoming wire of funds. It would need to detail the name on account transferring the funds. The name would need to correspond with the donor on the gift letter.
*Completed gift letter
Evidence indicating debts have been paid in full can be letters from creditors or monthly statements showing zero balances.
If your current house is being sold, we will need a copy of the certified HUD-1/Settlement Statement you receive from the title company closing the sell supporting mortgage paid off and you and Mrs. Xx netting no less than $-0-. This will be a closing condition that will be needed prior to funding the new home purchase. Appraiser indicated we should have the report late this afternoon and the insurance is in process with XXX. The xxx xxxx can be paid off at closing if we receive an invoice with outstanding amount to provide to the title company. The amount can then be collected on the HUD-1/Settlement Statement for your home purchase.invoice is required to account for funds needed
Thanks.
Original Message-
From: E. Xx [mailto: E... Xxxxxxx]
Sent: Wednesday, March 07 7:41 AM
To: Michele W...
Cc: 'Stephanie B...'; D Xxxxxxxx
Subject: Re: LOAN DOCS
Mrs. W..., thank you for your response. With reference to funds we received from family, it was categorized as a gift by Kathryn. What I can do (and this is the most expeditious means), I can provide proof of this electronic funds transfer from my most recent bank statement. I'm not aware there is such a thing called a "canceled gift check." Again, there are NO canceled checks to provide as proof of this donation. There are no withdrawal slips and you mentioned the borrower's deposit slip, which is not applicable because there is no "borrower."
As for sufficient documentation for our current house, we intend on presenting this documentation at closing. I've already addressed the documentation showing we have paid off creditors in previous e-mails. We will have documentation the xxxx xxxxxxxx has been satisfied this afternoon. I've previously asked about the appraisal status via e-mail to Kathryn & Stephanie but no one has responded to my concern. As for the Hazard Insurance, that's too easy.
Now you mentioned this documentation is required for RHL to proceed any further, there must have been a breakdown in communication. Per Kathryn's e-mails, she said the documentation concerning our current house could be brought to closing, as well as the documentation showing the xxxx xxxhas been satisfied. I need to know which is it? If you like, I can send you Kathryn's e-mails stating such. We need to convey clear and concise communication between each party involved or we will continue to have issues.
For the past few months, everyone involved in this transaction knew I was coming home at the end of February to close on this house. These items RHL state they are waiting on could (and should) have been addressed months ago. Just like the xxxx x, it was on our credit report that was pulled last summer and was never addressed.
As a result, we are rapidly approaching my departure date and I will not return for several months. This deal must be finalized by 12 Mar 07 or there is no way it can be done. On 13 Mar, I have to see physicians and a dentist in Xx. Xxxxx and it will take all day. As for 14 Mar, that's my last day here. I must return to contribute my part in defense of this country and I can't just leave and return home as I wish.in addition, the first couple of weeks after I depart, I will be in the desert and will have very limited access to e-mail and telephone.
As I stated before, I will not leave my wife here to deal with this situation and different personalities that I've dealt with since I've been home. RHL's lack of initiative does not constitute an emergency on my part. I have e-mail trails between myself and Stephanie B... Stating these creditors would be paid off. When we paid them off, I notified Stephanie once again stating such. Not once was anything mentioned about providing proof of where these funds came from. I notified Stephanie a month ago.
Now, as far as proof of the source of funds, I will get this to you before COB today.
E... Xxx
Original Message -
From: Michele W...
To: E... Xxxxx
Cc: 'Stephanie B...' ;
Sent: Wednesday, March 07 02:31
Subject: Re: LOAN DOCS
Afternoon Mr. Xxxx,
If debts are being paid off, XXXX requires documentation of the source of funds from an acceptable source. I understand from your prior e-mails, the funds used were received as gifts from family members. Acceptable documentation would include gift letter and cancelled gift checks supporting the transfer of the funds from the donor to the borrower. Other documentation allowed in lieu of cancelled gift checks would be a copy of the donor's withdrawal slip and borrower's deposit slip. Notarized statement is not sufficient to document gift funds per XX.
Items needed to clear your loan for closing are as follows:
* If house is not being sold prior to closing, need sufficient documentation to exclude this debt from the qualifying ratios (an example would be a lease agreement or gift funds with documentation to pay off debt). If a lease agreement is provided, loan program will need to be revisited for qualifying ratios.
* Documentation supporting applicable debts paid off as indicated in previous e-mails and the supporting documentation for source of funds to pay them in full.
* Payoff statement for unsecured debt with the Xxxxxx Xxxxx so that the title company knows how much to place on the settlement statement.
* Revolving accounts being paid off will need to reflect accounts closed or borrowers to sign letters at closing requesting accounts to be closed and we mail to creditors.
* Documentation xx released or paid in full
* Appraisal (Christina to follow up on status)
* Hazard insurance (Christina to follow up on status)
This documentation is required in order for Residential Home Lending to proceed further.
Michele W...
Vice President
Residential Home Lending
972-870-8978 direct
214-357-0808, x278
214-357-5537 fax
Original Message
From: Stephanie B...
Sent: Tuesday, March 06 3:44 PM
To: michelew
Subject: Re: LOAN DOCS
Stephanie B...
Senior Loan Officer
Residential Home Lending
972-523-5797 Cell
Thank you for the opportunity to earn your business. Referrals are the best thank you.
Original Message
From: E... Xxx [mailto: E. Xxxx]
Sent: Tuesday, March 06 11:38 AM
To: Stephanie B...
Subject: Re: LOAN DOCS
Morning Stephanie. Just received your e-mail. First off, there are no cancelled checks and if there were, it would take days to receive. I'd like RHL to understand something. If this transaction is not finalized by Monday, 12 March it doesn't get done. I'm leaving next week and will not leave D. Here alone to deal with the behavior and personalities I've dealt with. This is not negotiable.
Like I stated before, if the underwriter would like for D. And I to get a statement notarized indicating we have not obtained any loans within the last eight months, we would be happy to do that. After all, the purpose of this is to verify we have not borrowed any funds to pay off creditors. I'm not going to revisit this issue later with regards to contacting someone across the country and asking them to provide copies of checks or statements so I consider this a closed issue. That is their personal business and they are not applying for a home loan, we are.
If RHL would like to move forward with the notarized statement, please let me know. If not, please let us know so we can move on to another lender. Thanks.
E. Xxxx
Original Message
From: E. Xx
To: Kathryn C... Ll
Sent: Friday, March 02 18:33
Subject: Re: LOAN DOCS
Thanks for the humor. It was not a matter of you answering questions to my satisfaction but a matter of you answering the simple questions I asked. Sorry if I demanded too much of you. It should not take three requests to answer questions.
As for the xxx, I've contacted the xxxxx and the xx told me since it purged from their system, they have no record of it and we have no way to pay it. Prior to them sending us something in writing, I'm waiting to speak with the legal department. If we had known about this, we would have been taken care of it. I also confirmed with D. And she knew nothing about it. Thanks again.
E. Xxx
Original Message
From: Kathryn C. Ll
To: 'E. Xxx'
Sent: Friday, March 02 18:23
Subject: RE: LOAN DOCS
What has not been answered to your satisfaction?
1. Your debt to income ratio is no longer an issue; you have been approved for the loan.
2. The xxx DOES count against you.
3. Your xxx plan was not in the file that I approved. Unless the funds to pay off debts came from this account and you could evidence that you liquidated all or part of it, it would not assist you with verifying funds for the debts to be paid off.
4. According to the info on the credit report, the xxx xxxxxxxx is against D. (and may be against other parties, as well.) Our concern is that it is against D...
5. Please contact FannieMae (Federal National Mortgage Association) for underwriting requirements regarding first lien position. If you are in disagreement with them, you should contact Senator Kay Bailey Hutchinson.
Original Message
From: E. X [mailto: Xxxxxxxx]
Sent: Friday, March 02 9:07 AM
To: Kathryn C. Ll
Subject: Fw: LOAN DOCS
Third request.
Original Message
From: E. Xxxx
To: Kathryn C. Ll
Cc: 'Stephanie B... (E-mail)' ; 'Christina A... (E-mail)'
Sent: Friday, March 02 03:28
Subject: Re: LOAN DOCS
Is it your intent on answering the questions I asked below?
Original Message
From: Kathryn C. Ll
To: 'E. Xxxxxxxx'
Cc: 'Stephanie B. (E-mail)' ; 'Christina A... (E-mail)'
Sent: Friday, March 02 03:26
Subject: RE: LOAN DOCS
The xxx would take a first xx position over our lien.
Original Message
From: E. Xxxx[mailto: E... Xxxx]
Sent: Thursday, March 01 6:24 PM
To: Kathryn C. Ll
Cc: Stephanie B... (E-mail); Christina A... (E-mail)
Subject: Re: LOAN DOCS
Thanks and I would love to have this put to bed prior to your vacation, but it's hard for me to do so when additional information is requested from us daily. Again, the amount is NOT $XX, because as I stated in my last two e-mails, the XXXXloan in the amount of $XX, XXX has not been paid in full. The amount appears to be more in the $XX, range. I guess there was no explanation for your e-mail that stated our debt to income ratio increased from XX. XX to XX. X when we paid off debt because now you are stating it's XX.
Please answer these questions. Did the xxx count against us? Did you take into account the balance of my Xxx Xxx Xxx that I sent? How can a debt belonging to a former spouse that is in excess of 10 years old count against us? Please show me somewhere in writing how this can count against us. Thank you.
E... Xxx
Original Message
From: Kathryn Cll
To: 'E. Xxx'
Cc: Stephanie B... (E-mail) ; Christina A... (E-mail)
Sent: Friday, March 02 03:03
Subject: RE: LOAN DOCS
Mr. Xxx, I would really like to get this finished before I leave at noon tomorrow for vacation; I will not be returning until March 12.
$XX, XXX debts - if you will add the debts that I detailed in my underwriting analysis (see #5), they total approximately $XX, XXX.
When you obtain funds from family members to pay off debts or to assist you with down payment and closing costs, that is considered a gift. Secondary guidelines are very specific regarding how to document gift funds. I will send a gift form under separate cover; please pay special attention to the items on the bottom of the form that need to be attached.
With the information that we received from X, updated paycheck stub for your wife, and the debts being paid in full, your back ratio is now XX%.
Christina will be sending the tax info to you under separate cover.
Kathryn Cll
Original Message
From: E. Xxxxxxxx [mailto: E. Xxxxxxxx]
Sent: Thursday, March 01 5:17 PM
To: Kathryn C. Ll
Cc: 'Stephanie B... (E-mail)'; 'Christina A... (E-mail)'
Subject: Re: LOAN DOCS
Kathryn, in the e-mail I sent you the night of 23 Feb 07, I asked how did our ratio increase from XX. XX to XX. X when we paid off debt?
As for us paying off our debt, we DID NOT borrow any funds to pay off debt. We eliminated our debt and did not accumulate any more debt. Below, you stated approximately $XX, XXX. XX in debt. Where did that amount come from? I already stated the XXX loan for $XX, XXX. XX will be paid when we receive our certified check at closing so the $XX, XXX. XX is a bit exaggerated. The funds to pay these creditors came from family members who wanted to assist us in obtaining our home. Again, within the last six months, we did not acquire any debt for any reason.
As I mentioned below, I will get you copies of the XX bank statements and page 2 to D..'s XXXX statement. Again, we have no knowledge or information regarding a xxx x and we await the date of the credit file this information was derived from. Thank you.
E. Xxxx
Original Message
From: Kathryn C. Ll
To: 'E... Xxx'
Cc: 'Stephanie B... (E-mail)' ; 'Christina A... (E-mail)'
Sent: Friday, March 02 02:06
Subject: RE: LOAN DOCS
What was your question regarding the debt to income ratio?
Christina, I do not have the file in my office. Would you please forward to Mr. Xxx the info regarding the xxxx xx on the CoBorrower.
The net sale of your home is relevant because we must show that you did not borrow funds to pay off the debts that total approximately $XX, XXX.in addition, the HUD-1 Settlement Statement will confirm that you sold that home and, therefore, are no longer liable for the mortgage debt. If, though, the funds to pay off your debts came from your bank account, we would need those bank statements to show the disbursement of the funds and that there were no large deposits to evidence a new loan.
Original Message
From: E. Xxxx [mailto: E. Xxx]
Sent: Thursday, March 01 4:51 PM
To: Kathryn C. Ll
Cc: Stephanie B... (E-mail); Christina A... (E-mail)
Subject: Re: LOAN DOCS
Kathryn, I will address each item you have below but this goes back to the e-mail I sent you the night of 23 Feb 07 (last-minute requests).in addition, you still have not answered the question I asked in that e-mail (23 Feb 07) with regards to the substantial increase in the debt to income ratio. Please answer that question.
RHL has had our credit report pulled since Jan 07. Is there a reason why you are just now asking for information regarding a xxx xx xx in the amount of $XXX. XX? To start, we have no evidence or knowledge of a xxxx xxxxxxxx being reported on either of our credit reports. Please tell us more about this and also the date of the credit report file you are using. That's important to us.
1. XXXX bank statements. I will obtain those and get them to you within the next 24 hours. I'll also send you page 2 of D..'s XXX statement with these bank statements.
2. Appraisal - N/A
3. Evidence of xx - addressed above. Have no knowledge of it and we need to know the date of the credit file you are using.
4. Why is our net from the sale of our house of any interest to RHL? That question is equivalent me asking you how much is RHL making off this house transaction. It's irrelevant unless we ask RHL to intervene or unless you can explain why this information is imperative.
5. We have evidence (either letters from the creditor or monthly statements) indicating these debts have been paid in full with the exception of the XXXX loan for $XX, XXX. Xx. This is being paid with our upgrade & earnest money refund that we will physically receive (in our hands) via certified check at closing ($XX, XXX. XX).
As for the addendum to our contract, the cost will be lowered $X, XXX. XX for the cost of the backsplash in the kitchen. New loan amount is $XXX, XXX. 00.
I spoke with Stephanie a few minutes ago and she will be sending me an e-mail shortly with the interest rates and payment information. Thank you.
E. Xxx
Original Message -
From: Kathryn C. Ll
To: 'E. Xxxx' ; Stephanie B... (E-mail) ; Christina A... (E-mail)
Sent: Thursday, March 01 22:11
Subject: RE: NON AVAILABILITY
My apologies—there was one more condition: We need the 2nd page of D..'s XXXXXX Statement from December 31. This can be brought to closing.
Original Message
From: Kathryn C. Ll
Sent: Thursday, March 01 1:07 PM
To: 'E. Xxxxxxxx'; Stephanie B... (E-mail); Christina A... (E-mail)
Subject: RE: NON AVAILABILITY
Have reviewed your file. Am lacking the following:
1XXXX bank statement (all pages);
2. Appraisal. Hope to have this back today.
3. Evidence Xx has been paid ($XXX reporting under D...'s name). If this has not been paid, it may be paid at closing, but we will need the invoice prior to preparing the closing documents.
4. How much will you net from the sale of your present home? Has it sold yet? If the home has been sold, please forward the HUD-1 Settlement Statement. If you do not have access to a fax machine or scanner, please let me know the amount on line 603 "Cash to Seller." If it has not yet sold, please confirm that it will be sold prior to this transaction and the amount you anticipate receiving from the transaction.
5. Evidence the following debts have been paid in full. (If you were going to pay them at closing, please bring a current invoice so the title company will know the outstanding balance):.
XX has sent an Addendum to your Contract to reflect $XXX, XXX as the new sales price.
I trust Stephanie has contacted you regarding the interest only program and interest rate. (I was not able to reach her prior to sending this e-mail.)
Kathryn A.C... Ll, CPA*
Chief Operations Officer
Residential Home Lending
214/357-0808 x222
*Licensed, but not representing RHL or any other firm
Original Message
From: E. Xxxx
To: Kathryn C. Ll
Sent: Wednesday, February 28 21:03
Subject: Re: NON AVAILABILITY
Oh, by the way, we spoke with Stephanie months ago and she is aware we were looking at (and have discussed) doing a xx. She mentioned once our creditors were paid off, that would increase our score to reflect xxxx and she would be able to get the payment for the loan in the xxxxxx range. Hope this helps.
E. Xxx
Original Message
From: Kathryn C. Ll
To: 'E. Xxxxxxxx'
Sent: Wednesday, February 28 20:52
Subject: RE: NON AVAILABILITY
Christina is compiling the documents and updating the Application, etc. For the loan to be underwritten (reviewed). We, of course, do not have the Appraisal, but have requested a verbal confirmation of the value. We hope to have this today or tomorrow.
I will send an e-mail to you after I have underwritten the loan to let you know if we have everything we need to make our file complete.
Original Message
From: E. Xxxx [mailto: E. Xxxx]
Sent: Wednesday, February 28 11:35 AM
To: Kathryn C. Ll
Subject: Re: NON AVAILABILITY
Morning. As of this moment, do you have all of the documentation you require to move forward? Please advise. Thank you.
E. Xxxx
Original Message
From: Kathryn C. Ll
To: 'E. Xxx'
Sent: Wednesday, February 28 01:31
Subject: RE: NON AVAILABILITY
Per Christina, she has not received a response to the questions on the VOE Cover Sheet. (This is what I called Xxregarding.)
Original Message
From: E. Xxxxx[mailto: E... Xxx]
Sent: Tuesday, February 27 4:22 PM
To: Kathryn C... Ll
Subject: Re: NON AVAILABILITY
Kathryn, at this point, do you have everything you require to process our loan at the lower interest rate or is there still something we must provide? Please advise. Thank you.
E. Xxxx
Original Message
From: Kathryn Cxxll
To: 'E... Xxxxx'
Sent: Tuesday, February 27 22:34
Subject: RE: NON AVAILABILITY
No, unfortunately not. It must state definitively that those items are guaranteed for the next three years, or we cannot include them in your income calculation.
Original Message
From: E. Xxxxx[mailto: E. Xxx
Sent: Tuesday, February 27 1:24 PM
To: Kathryn C. Ll
Subject: Re: NON AVAILABILITY
Thank you. According to Xx, she said she addressed that in question #11. Is that not sufficient?
Original Message -
From: Kathryn C. Ll
To: 'E. Xxxx'
Cc: Stephanie B... (E-mail)
Sent: Tuesday, February 27 22:22
Subject: RE: NON AVAILABILITY
Yes, she left a message for Christina and it appears they missed one another's call. We received the written Verification of Employment but she did not address the questions on the cover sheet regarding the continuance of the three pay items in question. I have since called and left a detailed message for her. Hopefully, she will be able to provide this info soon, so we will know how to proceed.
Original Message—
From: E. Xxxxx[mailto: E... Xxxx]
Sent: Tuesday, February 27 1:02 PM
To: Kathryn C... Ll
Cc: Stephanie B... (E-mail)
Subject: Re: NON AVAILABILITY
According to Xx, she called you and left you a message a little while ago asking you to call her back. As of about 12:30 today, she has not received a phone call back from you. Maybe that's why she has not verified the information you've asked her for. Please contact her because she may have a question about what you sent to her. Thank you.
E. Xxx
Original Message -
From: Kathryn C. Ll
To: 'E. Xxxx'
Cc: Stephanie B... (E-mail)
Sent: Tuesday, February 27 20:45
Subject: RE: NON AVAILABILITY
We still have not been able to verify that some of your payroll items will continue for at least three years. We have contacted the people you suggested, and faxed a form for completion, but have not received a response. This information is vital to obtain the interest rates that you were quoted for a full-doc loan.
Stephanie has researched the rates for a non-income qualifying loan. The lien would be XXXXX%. The lien is a 30 year fixed rate.
Please let us know how you would like us to proceed.
Kathryn A.C... Ll, CPA*
Chief Operations Officer
Residential Home Lending
214/357-0808 x222
*Licensed, but not representing RHL or any other firm
Original Message
From: E. Xxxxx [mailto: E... Xxxxx]
Sent: Monday, February 26 8:01 PM
To: Kathryn C... Ll
Cc: Michele W... (E-mail); Christina A... (E-mail); Stephanie B... (E-mail); D... Xxx; E... Xxx
Subject: Re: NON AVAILABILITY
Kathryn, attached are the pay stubs and XXX plan for XX... If you require additional information, please advise soonest. Thank you.
E. Xxxx
Original Message
From: E. Xxxxx
To: Kathryn C. Ll
Cc: Michele W... (E-mail) ; Christina A... (E-mail) ; Stephanie B... (E-mail) ; D... Xxxxx
Sent: Saturday, February 24 07:34
Subject: Re: NON AVAILABILITY
Kathryn, not sure who you are used to dealing with, but let me straighten this out for you.
You stated below that you "repeatedly requested" documents from us. You sent your first e-mail to me the afternoon 21 Feb and your e-mail below is a little short of 48 hours so if you feel you "repeatedly requested" documents from us and we didn't act fast enough for you, then you need to understand this world does not revolve around you. If you had been a little more proactive in your approach and informed us, let's say a month ago that you required additional documents, I'm positive you would have had them already.
I'm one the many contributors in uniform who travel around the world and proudly go into harms way just so you can have peace of mind daily and live a normal life. I can't control my location, nor do I control my own schedule and if you feel it's fair to "penalize" D... And I for me contributing to our country's fight against the Global War on Terrorism, then so be it. We are sorry for moving so slowly in responding to your "repeated" requests. Every since the beginning of this entire evolution, everyone knew we were looking at closing at the end of February. So for you to begin to make any demands and think that we're not moving rapidly enough for you, I think you need to take a deep breath, relax and extend me a little bit more courtesy. You, not us, decided to wait 7 calendar days prior to our expected closing date to request additional documentation be turned around to you in less than 24 hours.
Another questionable issue we noticed. Per Stephanie's e-mail sent to me on 29 Dec 06, our ratio was XX. Xx. Since that date, there has been no activity on our credit file. Since we paid off debt since then, how did our ratio increase from XX. XX to XX. X? We paid off debt and didn't create any.
Now, with that being said, everything appeared to be working out fine until you got involved and now it appears to be in disarray. I discussed the appraisal fee with Stephanie a while ago and when she received confirmation XXX Homes was paying our closing costs, she never made reference to the appraisal fee again.in your Truth In Lending Disclosure Statement you forwarded on 21 Feb, it states the appraisal fee is $350.00. Within 48 hours, why did it increase to $395.00? If you require the $395.00 before we close, I suggest you contact XXXX Homes and make your demands from them. The Truth In Lending Disclosure Statement shows the appraisal fee is a part of the closing costs.
If there is a different requirement as to why we must "pre-pay", please explain why you are unable to obtain this fee from XXX Homes and then we'll feel more comfortable providing you with the appraisal fee. I will have these documents to you sometime on 26 Feb 07. I've already provided you with a telephone number and person to contact to verify my employment. If you need me to re-send this to you, please let me know. As for my previous e-mail about my non-availability, I was just showing a little consideration for the other parties involved becaust it's the right thing to do.
At this point, you have failed to provide quality customer service, especially by the manner in which you choose to communicate. Working with Stephanie Bxxxxxx was good because for starters, she knows how to effectively communicate. I'm back in the country now so let's take care of business if you still wish to. Thanks.
E. Xxx
xx - mobile
Original Message
From: Kathryn C. Ll
To: 'E. Xxxx' ; Stephanie B... (E-mail) ;
Cc: Michele W... (E-mail) ; Christina A... (E-mail)
Sent: Friday, February 23 20:37
Subject: RE: NON AVAILABILITY
As of this date, we have not received your Application/Appraisal Fee ($395), updated documents, or crucial income documentation to qualify you for the mortgage loan. I repeatedly requested that you furnish this information by Thursday morning, February 22. We can no longer accommodate your closing date request of Wednesday, February 28. Once we receive the documenation, we do our best to close your loan as quickly as possible.
Kathryn A.C. Ll, CPA*
Chief Operations Officer
Residential Home Lending
214/357-0808 x222
*Licensed, but not representing RHL or any other firm
Original Message
From: E. Xxx [mailto: E. Xxxx]
Sent: Thursday, February 22 10:03 PM
To: Kathryn C. Ll;
Subject: NON AVAILABILITY
All, since I will be traveling back to TX this weekend, I will not have access to my e-mail or be available from about 9:00 A.M. (CST) on Saturday, 24 Feb 07 through around 5:30 P.M. (CST) on Sunday, 25 Feb 07. You can reach me at my home at XXX - after 5:30 P.M. On Sunday, 25 Feb. If you are awaiting any documents or information from me, I will either get it to you prior to my flight or will have it ready for you on Monday. Please know we are trying to meet our requirements as quickly as we can. Thanks for your patience and understanding.
E. Xxxx
Original Message
From: E. Xxxxx
To: Kathryn C. Ll
Cc: Stephanie B... (E-mail) ; Christina A... (E-mail) ; Michele W... (E-mail) ; D. Xxxx ; E. Xxxx
Sent: Wednesday, February 21 22:13
Subject: Re: New home
Thanks Kathryn for your e-mail. First and foremost the cost of the house is incorrect. I recommend you contact XXX Homes to obtain the total cost of the house. Next, the numbers and estimated payment you listed below are not anywhere near the numbers we were given a few months ago by Stephanie B... We'll need to discuss this further.
Also, are you working with us instead of Stephanie now?
You mentioned below "Time is of the Essence." The main question D... And I have is why are we being informed of this information seven days prior to closing? Why were we not notified sooner? If information such as additional pay stubs are required, why (again) were we not notified a month ago? We don't like doing business "at the last minute." In dealing with Stephanie, she was very proactive in her approach and it worked out great.
D... Also told me you asked about her Xxx business. D. Is a wholesaler therefore, sells the merchandise at the prices listed in the home interiors catalogs. There are no pay stubs from home interiors. I pose the question again, why is this becoming an issue AT THE LAST MINUTE? Last minute business is bad business, which we do not appreciate.
As for the appraisers, it's up to you and/or RHL to determine which of your companies will give us an honest estimate. It's not our job to contact these appraisers and ask them questions about the way they conduct their appraisals. Since they are RHL approved, RHL should have some knowledge of their appraisal methodology. I ask you to contact these appraisal companies that RHL are affiliated with and make the actual actual appraiser aware we MUST HAVE an honest appraisal and not an appraisal for the cost of the home. As I mentioned in a previous e-mail, we know we have quite a bit of equity in the house already based on discounts of the land in the amount of $XX, XXX. 00 and the home itself.
Now, I can get you the pay stubs you need for my job but it probably will not be until I arrive there on Sunday evening, 25 Jan 07. Had we known about these additional requirements ahead of time, we probably would have already had them forwarded to you. Being out of the country restricts my capabilities and reduces the amount of resources I have access to.
D. And I intend on calling you via 3-way telephone to discuss this e-mail further either today or tomorrow. Thank you.
E. X
Original Message
From: Kathryn C. Ll
To: D... Xxxxx ; E... Xxx
Cc: Stephanie B... (E-mail) ; Christina A... (E-mail) ; Michele W... (E-mail)
Sent: Wednesday, February 21 21:43
Subject: New home
Dear D. And E.:
I have been forwarded your e-mail regarding the selection of an Appraiser for your new home. I certainly agree with you that it oftentimes seems too much of a coincidence that the appraised value of a home is the same as the sales price. I can't help but wonder if some Appraisers are merely protecting their licenses! As with all lenders, we are first and foremost concerned about the quality of the Appraisal and the integrity of the Appraiser; therefore, we have a list of "Approved" Appraisers. We will accept "outside" Appraisals, but if we are not familiar with the Appraiser's work, we would require a review of the Appraisal, which can cost upwards of $250.
The Approved Appraisers that work in your area are:
Homes of Dallas
Irvin & Company
World Class Appraisals
York & York
I would be happy to provide contact information, should you desire to interview the company you select.
In addition, we must receive payment for the Appraisal before we order it, as payment is due at time of service. We accept both MasterCard and Visa; we also accept checks, etc. (Sorry, not Discover Card or AmE... An Express.)
As you know, we must have your debt to income ratio xxxx. At the present time, your ratio is XX. X% The breakdown is as follows:
*Includes increase in XX XXXto $XX. X and XXX to $XXXX. 00. Also, must have evidence will continue for three years. If we are unable to obtain this information, we will have to change your loan program to a no income qualifying loan, which will result in higher interest rates.
The loan cannot be approved if the ratio XX. Xx%. I am attaching a Revised Good Faith Estimate of Settlement Costs and Truth in Lending Disclosure because these lower interest rates require a 1% Origination Fee plus X. X% Discount Fee. Under the terms of the loan program, XXX Homes can pay closing costs on your behalf up to 3% of your sales price ($XX, XXX. XX).
Time is of the essence! If we are to close next Wednesday, we must order the Appraisal no later than Thursday, and even that day will be considered a "rush." (A rush doesn't cost more, it just means we stand the chance of not receiving it in time for closing.)
Please forward current paycheck stubs (for both borrowers) and bank statements.
Kathryn A.C... Ll, CPA*
Chief Operations Officer
Residential Home Lending
214/357-0808 x222
Eric
APO
Saudi Arabia
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