S
scooter38
Guest
My mortgage broker called me to tell me that he did not lock that the rate that we had takled about (6.625). We had previously locked in at 6.75 and I got a confirmation letter on this and signed it and sent it back. He had thought the rates were going to go lower which they had and he got me a rate of 6.625 and possibly was going to try for a lower rate, since I had refered a few people to him. prior to the call telling me that they did not lock the 6.625 rate I got a good faith estimate in the mail from him stating the rate and the costs associated with the closing.
Now the broker says that he will not eat the $3400 dollars that is going to take to get the rate he promised me and he will still have to eat $2000 if he goes ahead with the 6.75 rate. I beleive he has to go ahead with the 6.75 rate since I have the rate confirmation. We also negotiated a$900.oo closing cost as well with this rate. What can I do about the 6.625 rate and what does he have to do?
Now the broker says that he will not eat the $3400 dollars that is going to take to get the rate he promised me and he will still have to eat $2000 if he goes ahead with the 6.75 rate. I beleive he has to go ahead with the 6.75 rate since I have the rate confirmation. We also negotiated a$900.oo closing cost as well with this rate. What can I do about the 6.625 rate and what does he have to do?