Quicken Loans – Would Not Close With Power Of Attorney After Agreed To In Beginning
June 22, 2010 By Disappointed in Texas from Magnolia, Texas| Application Process: | 5 out of 5 |
|---|---|
| Loan Knowledge of Mortgage Banker: | 5 out of 5 |
| Loan option(s) offered: | 5 out of 5 |
| Customer Service from Mortgage Banker: | 5 out of 5 |
| Speed of Closing: | 1 out of 5 |
Number of times used Quicken Loans: 1 time
Quicken Loans will not close with a Power of Attorney. At the beginning of the loan process they told me I could close with a Power of Attorney since in Texas you have to close at a Title company, Lender or Attorney's Office on a Cash-out loan. When we finally got to "CLOSING", however they refused to close with a POA so I asked them to withdraw the application and they said they would put that I denied the loan, probably because they assumed I would want my 500.00 back which I already knew they would refuse to do, so why would I ask. For the record, I didn't deny to close the loan, I wanted the loan and it was fully approved and ready to close. I had even called Stewart Title and they said POA closing was fine as long as I was the spouse and they talked to my husband the day of closing to make sure he was alive and the POA was not revoked. I honestly feel confused that this lender would pass up funding our loan when they had approved all the legal documentation. It is a mystery to me. People use Power of Attorney's to close in Texas all the time. I'm not sure they know much about Texas laws so maybe that was the problem. In any case, I will be using a Texas lender when I get the energy to start this tedious process once again. Editor's Note: Thanks for your review. Please email me to get in touch with me directly at Kelly@quickenloans.com to review your situation.
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