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How To Cancel Fha Case Number



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Question
I am in the process of getting an FHA Loan and may need to change lenders. How can I use the same appraisal?
I was told the appraisal needs to be logged in to the FHA Connection Site and it wasn't. Who is responsible to log the appraisal; the mtge company or appraiser? thanks

Answer
All FHA loans are originated through the FHA connection site. An FHA appraisal CANNOT be done unless the loan is opened through the portal. For one thing, it tells the underwriter if the address is approved or not and other critical information. The appraisal is assigned to the mortgage company and ONLY the appraiser can re-assign it. Many appraisers will refuse to do this unless you pay for another appraisal...because technically, it is a new appraisal even though they may be using the same information. You also cannot have the same address used more than once...because if you change lenders, the first loan will have to be cancelled before it can be originated again to get a new case number. Why are you wanting to change lenders?



Question
How long does it take to reassign an FHA case number?
I had briefly started a mortgage application with Company A, then decided to go with Company B. The day before our scheduled closing, Company B tells us that Company A never released the FHA case number. They told me that the number would have to be canceled and then reassigned before we can close. Three days ago, they told me that the the number had been canceled, and that it would take 24 hours to reassign the number. Well, I'm still waiting. How long should this process take? We've had some issues with this lender, and I'm having a hard time trusting anything that they say. Just to clarify, the number has been released by the original company, and subsequently canceled. What is holding us up is that the number has to be "reassigned" (and is now apparently in the hands of HUD). I'm just wondering how long the reassignment process should take.

Answer
Once the old lender cancels (which is done according to you) the new lender goes onto the FHA connection & gets a new one. 24 hour MAX unless there is something keeping it on hold such as an incorrect address or something.



Question
How can I best deal with apparently across-the-board dishonest real-estate agents?
This is quite frustrating. I'm on my third agent in my home search. The first two lied about the availability of many homes, saying things like 1) Saying homes were "not on the market" simply when there was one other offer (I figured this out when contacting the sellers agent) and 2) confirming with me she had appointments reserved for home than saying "sorry I didn't have this home on my list for you" the day of viewing. 3) Talking on their cells to other buyers during viewings and canceling pre-planned viewings apparently due to such calls (someone else buying a more expensive house?). ...My next agent 1) Did #2 just like the last agents 2) Said he had turned in certain offer papers and then later admitted he did not 3) Said things like "we can't see this house I called and the agent doesn't allow viewers after 7:00PM" and then let me in only after I called the owner's agent and yes said "I never got the call and, no there's no 7:00PM limit" 4) Lost track of pre-approval and loan-type-description papers I had sent him multiple times and then kept saying things like "I didn't send the offer papers b/c I thought you were only approved for an FHA loan" when my pre-approval says clearly my loan is a conventional 30-yr. I have also had to consistently baby-sit the work of both agents as they consistently miss deadlines and have almost lost two homes I wanted due to their lying about their availability (one, in fact, is the home my last agent said wasn't available and I now have an offer in on). Is there any way to avoid having to deal with this and/or somehow send a strong message to the agents I am not dumb enough to take their BS? Right now I feel like, if law allowed me to do so (and/or FSBO prices weren't so high on the average), I'd have much better luck being my own agent. I AM NOT LOOKING FOR A LOAN OFFICER! I have near-perfect credit, no outstanding debt, and already have a mortgage from a reputable company. This is a question about REAL ESTATE AGENTS not loans!

Answer
I think your experience, as unfortunate as it is, is the exception rather than the norm. Or I have been exceedingly lucky having bought and sold a number of homes over more years than I care to disclose :) and havng had very good service by my realtors. I will have to admit that there were one or two buyer's agents that I thought might be a little "off", but in both those cases I was surprised when they both were the ones who brought me the eventual buyer. I think all you can do is interview them beforehand and let them know how you were disappointed in the past, what the others did that displeased you, etc. Of course they are going to say they never do things like that, but at least you have put them on notice of your expectations.




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