Posted on: 10th Jul, 2009 02:21 pm
after the 3 day rescission period has expired and the lender has not cancelled the refi, nor have the borrowers, is there an office of the government in which to file a complaint against the lender. does the federal government have a mandate a loan must fund if neither party has cancelled after the 3 day rescission period has expired?
the refinance loan closed this past monday and should have funded today, friday. the wire was requested, however, the loan did not fund.
the refinance loan closed this past monday and should have funded today, friday. the wire was requested, however, the loan did not fund.
something very unusual here - lenders are not in the habit of "cancelling" a loan after it closes.
your loan documents will tell you who the governmental agency is that would need to be contacted in this case.
your loan documents will tell you who the governmental agency is that would need to be contacted in this case.
Your bank may just be backed up. Their is no obligation for a bank to fund on the 4th day. If you locked expired though b/c of their error, i would call your AE and ask for a complimentary lock extension.
