For the past 2 weeks we have been working on getting a property closed, This home is lender owned and it is being sold by a Mid Source company, the mid source company has the right to sign the contract on behalf of the lender but the lender will sign the final deed. This seems very simple and straight forward, i have 15 others in escrow with the same mid sourcer.
The buyers lender who shall remain nameless at this point, has rejected the contract because they have said they will not accept the signature on the contract, we have brought it to VP level on the lender (owner) got it re signed but they wont accept these signatures either, the LO is not listening to anybody and this deal will die on Monday and HE DOES NOT CARE. the buyer is sitting in a hotel with all he owns in a UHAUL and we cant move forward.
Why is this allowed to happen, the LO may think he is right but will not listen to reason in any way shape or form,
This deal will Die, I will put the home back on teh market most likley at a lower price, teh buyer has to start over and everybody looses
Bring in licensing and over signt to Loan officers in Arizona NOW, have professional standards and a fiduciary to the client.
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