Legal Question in Real Estate Law in Georgia
Is it legal, during a refinance via third party, for the original loan servicer to purchase said mortgage refinance after borrower requested specifically not to continue business with original loan servicer? I'm afraid of the statue of limitations but to feed my curiosity........Last December my husband and I refinanced with a third party lender; Pinnacle Mortgage Group ( buys and sells), and specifically requested it not to be with Citi-mortgage after Citi denied the original refinance. At the closing table we were under the assumption a different company had purchased our loan, we signed the terms, and then had to wait a month to make our first mortgage payment, which was to Citi-bank, or our original loan servicer whom we had specifically requested not to do business with (and denied us previously costing us 10k in refinance fees,) Citibank outbid the other loan servicer at the last minute and we have now been placed back into the hands of the corporation we chose not to do business with.
1 Answer from Attorneys
Unless you had language in your loan papers that said they could not be the company, then they could be. Did you add such language to your contract?
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