christianlove
Junior Member
What is the name of your state? Louisiana
My husband and I sat down with a loan officer at a local bank and completed the paper work to refinance two rental properties. Before we left, I had a copy of the good faith estimate. We were quoted a rate of 5.75% with no discount points. I specifically reminded him at the point of the interview when he quoted us the rate that this was for investment property. He said he didn't see any other hits. The following business day he called and stated that he missed a 2% discount fee. We had contacted several lenders but chose him for the rate. We could have gone with one lender with a rate of 5.875% and no discount points, but chose him. Now the rates have gone up and this guy has cost us several thousand dollars. He will not honor the original quote. We have spoke with different people at the bank up to the president, but have received nothing more than an apology. Is there anything else we can do?
My husband and I sat down with a loan officer at a local bank and completed the paper work to refinance two rental properties. Before we left, I had a copy of the good faith estimate. We were quoted a rate of 5.75% with no discount points. I specifically reminded him at the point of the interview when he quoted us the rate that this was for investment property. He said he didn't see any other hits. The following business day he called and stated that he missed a 2% discount fee. We had contacted several lenders but chose him for the rate. We could have gone with one lender with a rate of 5.875% and no discount points, but chose him. Now the rates have gone up and this guy has cost us several thousand dollars. He will not honor the original quote. We have spoke with different people at the bank up to the president, but have received nothing more than an apology. Is there anything else we can do?