Member Services
Fight Back Against Lenders Who Fail to Have Funds at the
Closing Table
We continue to hear complaints regarding mortgage lenders who
fail to have funds at the closing table for real estate closings.
Whether they blame this on the lateness with which a wire transfer
was initiated or some other reason, it causes serious problems for
all parties involved. IRELA has been in contact with Dea Brennan,
Director of Mortage Banking, Office of Banks and Real Estate, and
informed her that our members will be sending her written
complaints regarding these situations. She has indicated that she
will review them and, where appropriate, take action.
Help us help you. The next time you are at a closing and the
lender fails to have funds at the table at the time of
disbursement, fill out and fax the following complaint form to the
Office of Banks and Real Estate. Be sure to fax a copy of the
complaint form to IRELA at (847) 593-5171) so we can keep track of
which lenders have the most problems. You may wish to copy the
complaint form and use it to create a blank form on your letterhead
to be kept in your briefcase and brought with you to
closings.
To download the form, click on:
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