Mortgage Broker Defualt

[BMAX]

What is the name of your state? CA

I had signed all final papers for a refinance when the lender the broker was using went out of business. Even though I had signed a lock paper for a 4.5% loan the broker said sorry and and would not honor the 4.5% loan commitment. Should the broker be responsible to to supply me with a loan based on the terms of our agreement? Is doing business with a mortgage broker not considered a contract? What recourse do I have to make the broker honor the deal we agreed to?

 

[HomeGuru]

What is the name of your state? CA

I had signed all final papers for a refinance when the lender the broker was using went out of business. Even though I had signed a lock paper for a 4.5% loan the broker said sorry and and would not honor the 4.5% loan commitment. Should the broker be responsible to to supply me with a loan based on the terms of our agreement? Is doing business with a mortgage broker not considered a contract? What recourse do I have to make the broker honor the deal we agreed to?

**A: you have no deal based on the fact that the direct lender is out of business.
How many points were you paying to buy this loan down? And it must be either a 15 year fixed or an arm.