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I rarely have that happen, BUT what I see frequently is a client that says "Oh I already sent that" and they have not. I'm working with a client now where I've requested the same information 10 times --- but it's an issue with the client sending everything EXCEPT for what I asked for, or sending partial/incomplete info.
Other times, we've gathered info over the course of months -- perhaps I got paystubs to do a preapproval, and by the time a contract is in place, we need updated ones.
There are a lot of reasons, and yes, one of them could simply be a poorly organized entity. Or poor communications (rather than a closer asking the processor/LO if they already have something, they'll reach out to someone else). Most times, though, it's people sending in incomplete info, leaving out pages, missing a signature, or something else along those lines.
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DEANNA C. SMITH CERTIF...
Smith Mountain Lake, VA
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Women of Westchester W...
West Harrison, NY
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Bob Betel
Sweetwater, TN
556,790
I just got off the phone with Chrissi Chapman Topoleski and she was a pleasure to talk to. THANK YOU for taking my call. We came to a resolution. Always have a LICENSED professional Lender on standby to answer questions like this. Communication is key.
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DEANNA C. SMITH CERTIF...
Smith Mountain Lake, VA
225,526
It is caused by a lack of comunication caused by the loan officer.This is one reason I am a one person operation. No loan officer, processor or closer. Just me, I do it all and I only need the information ONCE. Doing a loan, it's really not that hard people. Just do your job correctly.
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Women of Westchester W...
West Harrison, NY
1,844,291
It's really annoying isn't it. Now because of TRID they ask us for our license #'s which I am not thrilled about giving out. Don't know why they need it but they do here.
Obviously they don't have one database or it wouldn't happen.
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Bob Betel
Sweetwater, TN
150,416
6,393,179
5,868,482
I think they want to be SURE they cut down a whole tree. This is so annoying to buyers!
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2,538,633
Good morning Chrissi. It is not usually the same thing, as numbers change on statements each month or a further explanation is needed.
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Chrissi Chapman Topoleski - it's a difficult question to answer for sure.
I'd perhaps expect a better system from the lender if this is happening on every transaction.
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I do not even ask. Working with short sales, I learn to give them what they want as many times as they want. It can be ridiculous, but I'm not the one to judge.
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It used to be like that in my area but over the last year it has improved greatly. They even tell me not to worry they will get this and that from the lender or directly from the client.
11,291
Unfortunately, poor communication is the most likely explanation.
Many ideas come to mind, but if it wasn't something that was the correct information or exact piece of information requested the 1st time or an updated piece of information, it's most likely human error. Everyone gets busy and things can slip through the cracks...but hopefully that experience will not become the norm in your transaction.
Best of luck!!
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It can only be becasue they want to check & balance constantly. I shuuder to think if it is for other reasons (crazy-making)? LOL
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Chrissi Chapman Topoleski To keep some information current. We blame the lender for delays when asking for more information, but it is often the buyer who in fact causes the delay by not returning the information in a timely manner. It works both ways.
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797,457
I think the banks have made the lending process painfully difficult. I don't think the loan officers like it any more than we do.
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Is it a lack of organization or simply that they hate us?
I just had one where the lender said they had to re-verify past employment. Um, what??' The previous employment is historical data that will not change.
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