Who said they could do WHAT?!?

[Ghel]

Yesterday, a former customer called and asked for D, one of our loan officers. He claimed that he had been approved for an FHA loan through AEOA, and all he needed to do was bring in the paperwork and sign it. It didn't make any sense, but I took the message for D to call him back.

When D called him back, she spent half an hour trying to get off the phone. Afterwards, she told me that he kept saying crazy things, like he was working with a company that was going to buy every house in town under $50,000. And he was going to buy the subsidized-rent apartment building and kick everybody out. And he was going to buy the building next to the bank and start a German restaurant. And, finally, that the Big Bank that has a branch in the next town over had approved him for an FHA loan and had promised to finish it within 48 hours.

At that point, D said to him, "We can't match that deal. You should go for it." And hung up.

Today, I got a call from a local realtor. She said that she had just gotten a call from the customer and wanted to verify some things with us. She said he told her that he was approved for an FHA loan and we had promised to finish it with 48 hours. And if that was true, she would be sending customers our way. I had to laugh. I told her that he had called, but that he hadn't even applied for a loan, much less been approved.

She said that he was also complaining about bankers and realtors, as well as being very rude in general. He told her that he had a better offer from another realtor, so she told him to go there. I think her exact words were that she "declined to do business with him."

There's our crazy for the day. Ok, he wasn't the only one, but he was the funniest.

[VComps]

He claimed that he had been approved for an FHA loan through AEOA, and all he needed to do was bring in the paperwork and sign it.

Sorry, Ghel, but what are FHA and AEOA?

[Lenorecat]

I think FHA is like government help type loan? I think? I'm approved for that, but nothing else, it's like if your credits ok, but not good enough for a convental loan. I think?

[Ghel]

FHA is the Federal Housing Administration. The FHA doesn't actually make loans, they guarantee loans made by lenders.

The AEOA is the Arrowhead Economic Opportunity Agency. They have a number of programs to help low to moderate income families or individuals who live in the area, including programs to help pay for housing. I believe that the AEOA works with lenders to provide access to low-interest FHA loans, but the paperwork would be signed at the AEOA building.

The first alarm going off in my head was when the customer told me that all he had to do was bring in the paperwork to sign in front of our lender. That didn't make any sense.

[Ghel]

We just got a call from another realtor in the next town over. She said that the customer came into her office in his pajamas. He claimed he had arrived on his harley. He said that we were financing his house. Later in the conversation, he said he had $40,000 in his car in the parking lot. Yet later, he told her his BMW was in the parking lot. When she glanced out in the parking lot, her vehicle was the only one there. Surprise, surprise.