46 Days to Close Escrow With This Sacramento Mortgage Broker

If you choose the wrong Sacramento mortgage broker to do your loan, you’ll get delays.

There is a reason we refer only the top guys as a Sacramento mortgage broker to our buyers. They perform. They do what they say they will do. There are no excuses offered up because they don’t screw up. Our preferred mortgage brokers return phone calls. When everybody’s bag o’ money is pretty much the same, a Sacramento home buyer would have to be a bit nuts not to want to work with our preferred mortgage broker. The guys who make sure to close early or right on time are a precious commodity in Sacramento real estate.

We just closed an escrow that took the buyer’s mortgage broker 46 days to close. As if it wasn’t bad enough that I had to sell this particular home twice and get paid only once, we also had to deal with not one, not two, but three extensions, and they were all mortgage related. The buyer told his agent he pretty much regretted choosing HomeStreet, but he was so far down that rabbit hole he had to stick with them. Hopefully our bad experience is not a reflection on the entire company but isolated to that one loan rep.

The agent said the Sacramento mortgage broker shared conflicting stories that didn’t add up when he talked to the buyer. But I don’t have any direct knowledge of that stuff. I do know that I never once heard from the mortgage broker all through escrow until the second extension was about to expire and I called the dude myself. As the listing agent, I had received zero updates.

When I didn’t receive a response to my voice mail, I pulled up the roster to see who else worked at the company, called one of the other reps and begged him to please get in touch with our rep and ask our rep to call us. That did the trick. Dude called. He said he had also responded to my email but I did not get it. The reason I did not get his email is because a long time ago this particular person evidently did something to cause me to blacklist him, as I later discovered this guy’s email was indeed blocked, LOL. But that didn’t explain why hours passed without a call.

We never got a straight answer as to why the file was delayed. Whatever the reason, experienced mortgage lenders typically look for red flags upon loan inception. The lenders with foresight, the lenders who care take care of issues before it gets into underwriting. The buyer promised us he always returned documents immediately, so who knows. We just know it took this Sacramento mortgage broker 46 days to close escrow, and communication was fairly nonexistent.

It was getting to the point that the seller and I were close to taking bets as to when it would close. I’ll see you a 5th of bourbon and raise you a case of Ghost Block Cabernet, we joked.  I couldn’t guarantee a closing date for my seller until the day before, which is not the way I prefer to do business.