Can I sue my loan officer? Please need answer

Status
Not open for further replies.
A

ajtborja

New Member
Offers accepted March 19, by March 22 all paper documents (bank statements checking and savings, paystub, ssn copies, payed $3000 on escrow, home inspection are done, we signed all papers purchase agreement and everything they ask we always give it to our LO. EVERYTHING IS COMPLETE. We always call LO for an update and she said everything is ok.

Closing of escrow is April 19, and she said she resign from her work APRIL 14 and never contact us again till now APRIL 22 and we might lost the house and total $4000 that we spend on everything. We called the Processor and she said they never received anything from our LO. In short our LO didn't send any documents to processor.

MY QUESTION IS ---- CAN I SUE MY LO FOR DOING THAT AND WE SPENT $4000 CAN WE GET OUR MONEY BACK?

PLEASE I NEED AN ANSWER AND IM WILLING TO GET A GOOD LAWYER. ajt
 
Forget the Loan officer who were they working for? Don't be so quick to sue, find out who has your loan. The Broker they worked for should be able to salvage the deal. But yes you have a case against the loan officer but can you collect from them? I doubt it.
 
Yes one of realtor get another loan officer and he is the one who's taking care of it, and he extend the escrow but only until tomorrow FRIDAY APRIL 23 and that's making me worry cause we might lost the house and money we spend cause the seller said they want to put it back on market. Processor said its on review but i think it would take another weeks for that.
 
You didn't read what I said. You need to find the company that the Loan officer works for. LO are not independent they have offices and people who are responsible for their work. Find the broker or bank that they work for, they will be liable.
 
Yes it is BANK OF AMERICA, sorry I thought I cant say anything about any names of broker. Yes actually they give us another LO and hes the one taking care of it but for sure he's not giving any importance on our documents cause I saw on google that when files are transfered by a person resigned to company for sure its gonna be worst.
My question is you think I can sue my last LO for not doing her job? Thank u
 
You can't sue the LOAN OFFICER! They don't have any money. SUE THE BANK. Call Bank of America and explain the situation to a Branch Manager. Tell them if you lose this deal you are going to be coming after your money from them.
 
We can sue the bank? But they can easily say that they didn't get any documents or paperworks so nothing they can do. They can say that they don't have any files to process so its not their fault. What is the best explanation on that? THank you for helping us on this problem.
 
The Bank is responsible for what THEIR LOAN OFFICER does. Anyone can say they didn't get the paperwork but if HE/SHE got the paperwork then the Bank got it. The LO is an Agent of the Bank. They are responsible for what the LO does.
 
IF ever we lost this deal can we contact you and be our lawyer? Can u handle a case in CALIFORNIA? appreciated.
 
No I can not handle the case. You will have to find someone local. Good luck, I'm sure you have an attorney close by.
 
Status
Not open for further replies.

Share this page

Get a free case review from a lawyer
Back
Top