Make up your mind

[eltf177]

I'm not sure how these people manage to function...

I think it's time to write these people off, they are nowhere NEAR credible and I wouldn't trust them to be able to repay the bank...

[Pixelated]

Spoke with the 1st mortgage originator who went over the 1st mortgage options with them and he stated "Are they able to sign for a loan? Like, mentally?" He said this in an email to me, which I would not have done as I take extreme care that I never say or type anything that I cannot explain to a manager if I was called out on it.

1st mortgage originator is probably (not unlike yourself) tearing his hair out at this point. I'm guessing that at some point he found himself thinking "OMG DID I REALLY WRITE THAT IN AN EMAIL ..."

Um ... email? What email? I never got an email ...

[bankworking]

I thought it was done.

Customer had a sit down with a loan rep, to whom I had provided all the pertinent numbers to be able to compare the options, etc. Customer decided to complete the home equity loan. Got the closing date set, sent the closing disclosure. Prepared the final closing paperwork and sent it to the closing loan representative.

...

And the customer called to change the loan details completely around. Amount. Term. Rate. All changing. Which means a new decision, and new appointment, a new closing disclosure at least six business days ahead of the new appointment due to the rate change.

Oh, but she's not certain exactly what she wants the new amount to be...

I didn't cancel the appointment for tomorrow yet. Talked to the loan rep, and we're going to keep it ready because as soon as I do cancel it, you just know customer is going to decide she wants all the original terms instead. Can't change the application until she tells me what to change it to, exactly, anyway.

[Teysa]

Sheesh this customer sounds like she could drive a teetotaler to drink.

[morgana]

You know, the thread title is misleading. First you have to HAVE a mind . . .

[raw1989]

I thought it was done.
...
Oh, but she's not certain exactly what she wants the new amount to be...

this is how I feel reading the whole thread

[eltf177]

I can't believe your superiors haven't realized just how flaky this person is and what a GIGANTIC mistake it would be to loan them a stick of used gum, much less actual coin of the realm...

[eltf177]

Has this "genius" made a decision of any sort lately?

[bankworking]

It appears that the damage is done. Appointment kept and paperwork signed. Not certain if we really helped this one, but the bank is probably safe. Excellent credit despite maxed out credit cards shows a good willingness to make payments and there was a good amount of equity in the home.

For the customers' sake, I'm very glad they settled for the fixed term loan instead of the line of credit. Home equity line of credit would have probably stayed maxed out the length of the loan, and if they hadn't refinanced or passed away before the end of the 15-year interest only period, the balloon would have hit them hard. The fixed loan will at least have a solid payment that will get the loan paid off, in time. Bet all the credit cards being paid off will be maxed out again in a year or two, though.

Debt consolidations are only temporary relief if you don't fix the spending that caused the issues.

Really hoping they don't come back for a refinance in a year.

[eltf177]

I hope your superiors made a wise decision here, personally I've got my doubts...

[Pixelated]

Same here. I wouldn't be terribly surprised if they came back in the very near future complaining that they want some of the details changed and/or they "didn't understand" what they were signing ...