On a scale of 1 to 10 - UPDATED

[lemon]

How pissed would you be in this scenario?  With 1 being meh and 10 being super pissed.

Let's pretend you're trying to buy a house and get a mortgage.  You're assigned the world's dumbest loan officer from a bank you've been a member at for a very long time.  After lots of back and forth and confirming your rate and fees for the 3rd time because you have no faith in this lady, you tell her to lock your rate.  She says she's done it.  Three days later, you find out she locked you at a higher rate (0.375 higher than the one she told you she was locking you at).  No email, no phone call, no "oh hey, I fucked up and your rate is actually this," nothing.  You find out through a different person because you called the office to inquire about something else and they looked it up and mentioned it.  And the difference in rate has nothing to do with your credit.  There is literally no explanation as to why it's higher.  Actually, I take that back, there are 2 options.  1) She's a complete dumbass and quoted the wrong rate several times over a 2 week time period and never realized it, or 2) she quoted the wrong rate on purpose to get you to lock in and then pulled a bait and switch and thought you wouldn't notice/say anything (yeah right).

How far do you run this up the chain to try to get them to honor the rate you were told you were locked at?  You have several emails as proof of the rate you were quoted.


UPDATE - After sending a very strongly worded email up the management chain last week, I got a call bright and early this morning from the regional manager that they are honoring the rate and fees I was originally quoted.  Fuck yeah!  Saves us $85 per month and $30K over the life of the loan.  Don't mess with my money bitches!  And if it's one thing I learned from this experience, it's to make sure you get everything documented in email.  Especially when dealing with a dumbass.

[eddy]

Burn that shit down. I am not a cage rattler, but I absolutely would be on this issue.

I would also be shopping at other banks for a mortgage. I would kindly let them know that.

[mbcdefg]

9, pushing on 10

Get in touch with her manager ASAP. That's a load of horse shit.

[ECB]

I'd be pretty damn pissed. It's not rocket science. if the woman can't do her job properly, then she shouldn't be doing it.

[lola]

Oh hell no. I'd take this as far up the line as I have to in order to get my lower rate. Especially since you have emails to back up the lower rate claim. No no no. Raise holy hell here.

[ering1115]

8 or 9. I would 100% fight to get them to honor the agreed upon rate with the email evidence. That will add up to a crap ton of money over the life of a mortgage.

And, I would immediately start shopping other lenders. If you can get a pre-approval or pre-qual from another lender at a lower rate you can force their hand a little more.

The home buying process is hell.

[daisybuchannan]

9

[luckyval]

Simply because she sounds incompetent, I'd ask the person who told you your true rate if they could handle the rest of the closing.

But I'd also at least go to your loan officer's manager about this first. Do you have anything in writing about the original interest rate amount? An email or something?

I'd be at about a 5-6 about this, mostly because of the poor customer service. I don't think she was trying to bait and switch you, I think she was just lazy. .375% is really minimal, but her lack of follow through would piss me off.

[daisybuchannan]

It's enough of a PITA (did I use that right?) to get a mortgage, even without some dumbass screwing it up for you.

[bcv513]

10.5. Raise hell

[soozy87]

7

[Deleted]

9-10. I'd be pissed.

[dizzydee]

8-9 especially since you have emails. I'd go as high as I had to go to get what I was told.

[jane6672]

8

[partiallysunny]

10 Don't fuck with my money.

[Deleted]

I would be a 10 or higher. I would take this as high as I could go. I would also shop the rate

[luckyval]

Ok, maybe because it's Friday I'm being way too zen about this

[lemon]

Okay, good. So I'm not wrong here for being super irrationally pissed here. I spoke with her direct manager the other day and was essentially told "Oopsies, sorry about that, but that rate and pricing doesn't exist. Sorry for the misunderstanding!"

Yeah, no. An apology won't cut it here lady and you're bringing out the rage. So now I'm going above her and will go above that lady too if need be. I'm also wondering at what point I should take to social media. Not yet? See if they can resolve it at the regional level first?

[JayhawkGirl]

10

Our loan officer failed to lock us after three calls and two emails. We held off on locking until after a fed meeting that we (accurately) predicted would lead rates to drop. This was 2010, rates went to 4.0. He locked us at 4.375 simply for failing to act quickly enough.

We got ahold of a friend of a friend at another bank and moved the loan to him three weeks before closing. I was not about to give the first idiot our business.

And, we refinanced last summer

[lemon]

Bump. Score one for me!

[CheshireGrin]

Good job! I'm glad they stepped up to honor the terms you were quoted.

[curtains]

WOW!! That is great news. $85 a month and 30k over the life of the loan? That is no small amount. Good job!

[jane6672]

Heck yes!

[snickers]

I would have been a 10.
Glad you got it figured out, that's a lot of money in the grand scheme of things!