Policeman problems......I am a mortgage loan officer. Recently, I denied an applicant's loan?
(the applicant is a small town policeman....the town we live in has a population of 10,000) because the lender changed their loan program. The man did nothing wrong, it's just that his loan was a "subprime loan" and the subprime lenders are tightening up. I called the policeman and told him. He called back several times screaming at the top of his lungs, threatening to sue me personally, the company I work for and making all kinds of strange threats. He apparently also did a criminal background check on me, our secretary and the owner. What my question is should I be worried that he or some of his policeman friends will harrass me with pulling me over just to get me back or cause any other problems? I have never had problems with the law just a couple speeding tickets. Has anyone ever run into a situation like this where the police harrass since something did not go their way? Thanks for your input!
- 1 decade agoFavorite Answer
As a fellow LO, I understand completely what you're going through! Although, thankfully, none of my clients are cops : - 0
I'm sure you exhausted all your lender options before denying the loan, and with all the recent changes, I understand how difficult that can be. But FHLMC, FNMA and FHA have been loosening guidelines and have stretched into the Alt-A and higher sub-prime loans. If his mid-score is >580, I would keep looking for a progam that might work. Also, if you live in an LMI area, and/or the borrower's income is below the median - he may qualify for Freddie's Home Possible program. There is a special program for people who work for the community such as police officers, firefighters, teachers, etc. The program offers 100% financing with loosened DTI and reserves when manually underwitten, otherwise just go by the LP findings. The name of the program is Neighborhood Solution under the Home Possible guides.
If he doesn't qualify for the above mentioned program or FHA, I would call the guy and let him know that you are mailing copies of the sub-prime program, before and after the guideline change. Clearly show him in writing why his application is currently denied. Run a credit simulator scenario through your credit vendor and see what improvements he can make to increase his score to an approveable number. Offer to counsel him through his credit score improvement process and let him know that you will be more than happy to help him with financing when he is ready to try again. I would also offer a reduction in closing fees (see if you can waive the in-house processing fee). Hopefully the harrassment will cease.
Best of luck to you.Source(s): 23 yr mortgage professional in IL
- bkc99xxLv 61 decade ago
Hopefully, this will blow over soon and he will move on to the next person in his life that he can bully around. I would recommend not playing his game, unless he takes another action against you. To be prepared for that, take a few minutes to document what you can concerning his actions and contacts with you. Can you document the background checks? Have others been witnesses to his rage with you?, etc. That way, you are prepared if he continues doing stupid things.
Since you are dealing with the public concerning private matters (to them) of a very serious nature, I would consider installing a system to allow you to record your conversations. That would allow you to document not only someone that goes ballistic on you, but would also protect you from someone reporting you for doing something you didn't, and would document exactly what you did say to them. No more he said/she said when a dispute comes up. There are systems out there that will then save your conversation to a file on your computer and be indexed to the customer. Since you are a party to the call, you should be able to do this recording regardless of disclosing the fact that you are recording, but check with your local laws first as I believe some states wouldn't allow it without disclosure. Either way, it would be good insurance.
- HillaryLv 61 decade ago
Scary. I've heard of that, although it's never personally happened to me.
Since you have already gotten threats, it's a good idea to tell your boss and file a complaint with the police commissioner -- if you wait until this guy gets out of hand it'll be much worse.
Threats are illegal, but they're more illegal when they come from someone who is authorized to search, arrest and stop you, like a police officer. It's best to get it at least documented, so if something does happen, they'll know why and (hopefully) be on your side.
- BeardogLv 71 decade ago
Here's what I'd recommend. It sounds like you're a reasonable person, and as yet you don't seem to have a grudge against the officer, who likely just responded out of shock. I'd wait a couple days, and then call him personally. Let him know that it was a business decision, made by somebody else, and not a personal attack. See if you can work it out directly before going over his head. If by the end of the conversation, you aren't satisfied that he's calmed down- talk to the mayor's office and file a complaint against the officer.
How do you know he ran a background check?
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- getrd2goLv 61 decade ago
Yeah...I had a problem similar to yours years ago...I started dating my husband and a cop that had a thing for me decided that he would try to harass my hubby out of my life.
I was being pulled over constantly as was my hubby ... being threatened with incarceration etc...
You really need to file a complaint against the cop in question...as do your co workers.
He is abusing his authority...expect to have proof of his illegally pulling back ground checks though...
Regardless report his behavior to his higher ups.
- Anonymous1 decade ago
Just watch your back. Its not unusual for some officers to abuse their power. I wouldn't worry about...he was probably just angry and making threats then, but he should get over it. If officers do start to harass you just contact the media or internal affairs.
- Anonymous1 decade ago
Talk to the police commissioner ... if he won't set his employee straight, go to the paper ... sounds like front page news in a town of 10k
- 1 decade ago