Legal Question in Real Estate Law in Florida
Lender closes
I am a mortgage broker in Florida. We used a certain lender for many customers. The lender abrutly closed down their company on Friday Aug. 15th, without any warning. I had a few customers that were to close their loans that day on a refinace transaction. I had no control over this. I now have customers threatening to sue me. They all signed the Mortgage Brokerage Business Contract.
No fees were collected in association of the application. Only the appraisal fees were paid up front. Do I hold any liability after offering to take there loan elsewhere, but unfortunatly could not offer the same rates as last month.
1 Answer from Attorneys
Re: Lender closes
Based on the information you have provided, it appears that you need to meet with a lawyer face to face, not exchange e-mails over the internet at a time when you are receiving threats of lawsuits. Seek the advice of counsel soon. Good luck.
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