Where do I even start? I'll start with the end. We closed two weeks late with a different lender. Now the beginning. We found NBKC bank through Costco and couldn't believe the low lender fees and great interest rate. We applied, and Jeremy reached out immediately. The first day or two, he was amazing! Responsive, seemingly competent, and quick. From the beginning, we were somewhat skeptical of the loan terms he pre-qualified us for. Our circumstances were unique, so we were VERY thorough in explaining things to him. Our agent called him three different times in the first week to triple check that the terms he outlined would work for us. Jeremy was adamant that they would. Well, time went on and we were always very quick in getting him the documents requested. The week before our seller's strict closing date (Tuesday April 30) approached and Jeremy had gone a little quiet. On Thursday April 25, our agent reached out to make sure we were all set to close on Tuesday, noting the concern that the closing disclosure would need to be signed three days before closing. Jeremy replied with a single sentence saying, "Yes, the CD is already signed," talking about the closing disclosure. Note that the only disclosure we had ever signed was the initial disclosure from weeks earlier. On Friday, our agent reached out again for clarification and Jeremy responded with another single, unhelpful sentence: "It has been signed, but it isnt the final, some arent balanced with title as of yet" (the missing apostrophes are his, not mine). Jeremy's short responses and seeming lack of concern made us feel that things must be on track and going well.
This is where it gets really good. We don't hear from Jeremy until Monday morning (T-minus one day until closing). He sends us another short, unapologetic email informing us that the loan won't work and we have to completely restructure it. Not a single hint of "I'm sorry." The email didn't even communicate the fact that the closing date would have to be pushed back. We had to pry this information out of him. When our agent finally got Jeremy on the phone, Jeremy was EXTREMELY defensive and, again, unapologetic.
Luckily, we were able to get our seller to agree to a week extension with a new target close date of Friday May 3. By Monday afternoon (the same day Jeremy broke the news that we had to restructure), we had sent him all documentation he had requested. The following day, Tuesday, new initial disclosures were signed. We don't hear a PEEP from Jeremy on Tuesday afternoon or all day Wednesday. Our agent called and called. We emailed and texted. Not. A. Word. Finally, Thursday morning at 10:30 am, Jeremy replies and tells us that the new structure wouldn't work either. This is, again, THE DAY BEFORE CLOSING. No apology or hint of concern that we would have to push back closing again. He proposes two options - pushing the close date back two months (WHAT?) or converting to an FHA loan.
At this point, we begin talking to other lenders while also pursuing the FHA option with Jeremy. Jeremy sends us new initial disclosures and we send all requested documents. Since signing this last round of initial disclosures, we have not heard from Jeremy (almost two weeks later). I even emailed him and asked for an update. Nothing. Luckily, we found an awesome lender who was able to close us within 1.5 weeks of our initial contact. Not only that, but they closed us ON THE ORIGINAL STRUCTURE THAT JEREMY SAID WOULDN'T WORK. And that's where we are today.
Wait, there's one more thing. Before things blew up with Jeremy, we referred a friend to him. Our friend's loan was much simpler - very standard. We thought there was no way Jeremy could screw it up. Well, the week our friend was supposed to close, Jeremy did it again! He told our friends their loan wouldn't work and showed zero concern about the matter. Our friends successfully closed earlier this week with the same lender that helped us close.