Prospect Mortgage Mortgage Complaint

Prospect Mortgage Mortgage department,

FHA mortgage Application, originator, mortgage broker Indiana

I sold my house to a buyer using Prospect Mortgage in - as their lender. Prospect Mortgage 's -, -, is the person responsible for handling the loan. My buyer was also planning to use an - down payment assistance program to help pay the down payment. My buyer gave her offer on -/-/-, and I accepted the same day. We scheduled close for -/-/- ; on -/-/-, we found out the buyer had something pop up on her credit report that would cause a delay in close because it would prevent her from using the down payment assistance. After a couple of weeks of trying to get what we were told was an erroneous charge off her credit record, they decided to instead forgo using the down payment assistance and she was going to use her IRA to get funds to close. Prospect Mortgage, her lender, scheduled close for -/-/-. By Wednesday -/-/- we still did not have clear to close and were told by the mortgage company that they were working on conditions with the underwriters but would try to have clear to close by -/-/-. On -/-/-, we didn ; t have clear to close yet, but


requested on the appraisal had been completed so they could get a rush re-appraisal. No one had ever told me ( the seller ) that I had to have repairs done, no one ever told my agent either. Less than - hours before we were scheduled to close, we find this out ... I scramble to get a - out to my house, and have now paid $300.00 to have the repairs made. Today is -/-/-. The lender had close scheduled for -, and did n't bother to cancel it or tell anyone it was n't happening. Fortunately my realtor had the foresight to do so ; we moved it to -/-/-. - did n't respond to any emails this morning to tell anyone what was happening. Around - this afternoon we received an email from - at - stating that the re-appraisal could n't be ordered because he did n't have the FHA case information transferred from a previous buyer I had lost. I would love to know how he did n't know until the day we are supposed to close that he is missing critical information! This was - of the first things he should have done when my buyer made her offer and I accepted - how it is possible that both did n't happen AND then they did n't notice until the close date blows my mind. I have no idea now if we can close on Friday, and I do n't think - has any idea either. This transaction has been a disaster and I am about to lose the new home I purchased because the people at - do not know how to run their business appropriately. - families are adversely affected by the absolutely terrible handling of this process - it 's a domino transaction and all the people affected will not be spending - in the new homes they had planned to.