How Do I Contact My Mortgage Underwriter?

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I’m being sued by my mortgage broker. The contract I signed says that if he got Loan Commitment under the same terms I signed for, that I have to pay his origination charges. The terms of the loan changed several times, and I was sent notification emails. If I could get in touch with the underwriter, I could find out if the loan actually got commitment, or get proof that the commitment was not for the same terms I originally agreed to. My broker was my only link to the underwriter, and they won’t help me since they are suing me.

Also, if there are any laws that require them to close on the loan to get paid, I’d love to know about it.

I’ve posted my story here http://baytobaylending.us/

Any help would be appreciated.

Look who they they are going to have running for Senate in NY: David Malpass.

For those of you who don’t know, Malpass is a supply side economist [sic] that was a deputy secretary of the treasury under Ronald Reagan.

More recently, Malpass was the Chief Economist at Bear Sterns, and under his guidance and influence, Bear Sterns decided to bet the firm on mortgage backed securities specializing in subprime loans. I am sure that Malpass can do for America what he did for Bear Sterns.

As recently as 4/16/2007, Malpass was saying the biggest threat to the US economy was the Bush Tax Cuts expiring in 2011 (and specifically the capital gains tax cut).

A quote:

“The next recession–probably a ways off–is more likely to be caused by the normal government-directed growth-killers, taxes and inflation, than by a business cycle. Washington has already put into law history’s biggest tax increase, which goes into effect Jan. 1, 2011”, David Malpass, 4/16/2007.

You see, bad loan origination practices, what Warren Buffet called “economic weapons of mass destruction” (the unregulated derivatives market), and an unsustainable real estate bubble were not problems. Problems weren’t going to happen until the Bush tax cuts expired.

So you see, Republicans have new ideas: cut taxes (especially if they favor the wealthy), government is never the solution (it’s always the problem), and deregulate, deregulate, deregulate.

OK, so they are not NEW ideas, but they are ideas. They aren’t even neccessarily great ideas, but they are ideas.

6 Comments
  1. Reply
    Glenn S
    February 17, 2011 at 10:39 pm

    You have to go to “discovery” and require the mortgage broker give you all that information. Subpoena the mortgage broker to turn over all his files to you prior to going to court. In those files should be all the information that you need.

    The mortgage broker is required by federal lawto give you a “good faith estimate” of all the terms and costs of the loan within three days after he receives your loan application. If any of those cost are changed prior to making the loan you have the right to cancel without penalty. Consider a counter-suit for changing the contract and malicious prosecution.

  2. Reply
    mustagme
    February 17, 2011 at 11:29 pm

    All of those will pull us out of the hole we are in. I would like to see him win and bring these ideas to the Senate. However, I doubt it was his sole advice that brought down Bear Sterns. Perhaps it was the regulation dating from the Clinton administration.

  3. Reply
    jack99skellington
    February 18, 2011 at 12:18 am

    Yeah they have lots of new ideas.

    I particularly hate the new ideas they had where they can arrest anyone, and hold them without charges.

    It’s almost as bad as their other idea – the ability to do wiretaps on anyone without due process.

  4. Reply
    Reading Guy
    February 18, 2011 at 12:58 am

    Democrats!

  5. Reply
    kpk02
    February 18, 2011 at 1:21 am

    Considering that the current Democrat ideas are all from the 20s-30s and even back then caused a lot more harm than good in the long run, I don’t understand your point.

    Returning federal government to it’s originally intended role hasn’t been done since it was originally created, so I’d consider it a pretty new idea.

  6. Reply
    Schmuck
    February 18, 2011 at 1:41 am

    I see you have the Liberal talking points down to a science.

    I’m sure “blame Bush” is next.

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