Loan Phone Moan

, , , , | Working | February 27, 2018

(I do background checks and other due-diligence on loan officers who want to hang their license with our mortgage broker. I get a resume for one applicant from our top recruiter. His resume is fine, but his legal documents — I9, W4, etc. — are either incomplete, not filled out, or missing altogether. I email the loan officer about what is missing, and he sends me different copies with some of the originally missing information filled in, but some info still missing, and info that was filled in on previous copies now missing. Some documents are still missing completely. After doing this two or three times, I finally just pick up the phone and call him.)

Me: “Hey, you’re still missing [documents], and [other documents] are still incomplete.”

Loan Officer: *lots of background noise, he’s obviously in a public place* “I sent you all that stuff.”

Me: “You sent in two copies with different info missing in each one, and some info missing in both. And I still haven’t gotten [other documents] that I’ve asked for.”

Loan Officer: “Whatever, man. You can just fill that in. I have some loans I need to start getting funded.”

Me: “We’ve not approved you yet. We need to get this stuff in before we do anything.”

Loan Officer: “Let’s worry about that later. We have to move; I got some deals ready to go.”

Me: “I need to be honest with you; if you can’t be trusted to fill out these legal forms correctly and promptly as asked, how can we trust that you’re handling your loans in a legal and compliant manner?”

Loan Officer: *laughs dismissively* “I’ve got two processors I work with who have over 20 years industry experience, and they handle all that stuff. Don’t worry about it.”

Me: “Okay. If you’re bringing processors with you, we need their resumes and information, too.”

Loan Officer: “I don’t know why you’re being so difficult here. I’m trying to make you guys money.”

Me: “We have to make sure everything is in pla—”

Loan Officer: “Oh, s***! There’s a girl I met at a party last night! I have to go. Email me when you’re done with my paperwork, and I’ll send the loans over!” *hangs up*

(I recommended declining this loan officer. When he got the letter of declination, he wrote back a multi-paragraph tirade directly to our CEO about how disrespected he felt, and how he was going to make us millions of dollars. The CEO had a conversation with him on the phone, and then asked me for the reason for my declination. I explained what took place and, shockingly, the CEO agreed with my assessment. The loan officer called and emailed a couple more times but eventually went away.)

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