The loan process took a long time and information was change from what was told to us at first. We finely got the loan done but the closing cost was 3000.00 more then what we were told.
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Although a detail was overlooked in processing our loan that delayed closing, VUHL handled it fairly well and quickly. As soon as the mistake was recognized, it was corrected. No complaints.
The problems I encountered occurred during the change of personnel within my loan officer's network. I believe when the loan officer's assistant abruptly left the company in the middle of the loan processing the entire communication system crumbled. Rates were not locked in, phone calls/e-mails never sent; no follow-up by the new personnel with me, the buyer, and next to no communication with my real estate broker and lawyers. Closing dates were not communicated and numerous phone calls and e-mails went unanswered.
The best thing to note is letting the buyer know right up front the different costs associated with locking in rates, extending them, the time that it takes for appraisals to be completed, and just more upfront information in regard to the documentation of everything regarding costs that the buyer must pay at closing.
