So I recently “closed” on a refinance a few weeks ago. After the rescission period it was clear my old loan did not pay off and when I reached out to the new lender they were nonresponsive in confirming funding or any issues. Ultimately, the LO admitted fault and that their processing had failed but would be able to honor all of the terms of the original agreement. Fast forward to now and of course my lock period has expired and they are claiming I would need to sign a new disclosure including thousands in lock extension fees as pricing is now materially worse.
As far as I am aware I have performed and the failure is on them, but they have not been clear on what the mistake is. I have never heard of a refinance going this poorly (this is my second) and would believe I have an executed agreement with the lender (which I have requested from the title company). Per the terms of the contract, the failure to fund has nothing to do with credit/title so I would think I have some recourse but am at a loss.
Submitted March 20, 2021 at 02:31AM by goodstuffsept https://ift.tt/3cL2td6
