Legal Question in Real Estate Law in New York
mortgaga
Is it possible to prosecute a mortgage loan officer for issuing a commitment letter that was not from a bank? The borrower time was running out so the loan officer typed a commitment letter. The letter was faxed to the attorney but not signed by the borrower. Shortly thereafter, a bank issued a commitment letter. Due to the current market conditions, the file was not cleared prior to the bank cancelling the program. The borrower wants to sue the loan officer on the grounds that the first commitment was not valid
The seller is not releasing the funds back to the borrower. They are saying the first commitment was fake and they want a denial letter from that bank. But borrower did not sign that commitment. The intention was to close with the commitment from the other bank. Is there any recourse that the borrower would have against the loan officer, processor or mortgage broker for typing the fake letter? - edit
1 Answer from Attorneys
Re: mortgaga
We have substantial experience handling these types of cases, however, we would need some more information before making a complete and proper determination. You are welcome to contact us for a free consultation.
Law Offices of
STEVEN J. CZIK, P.C.
101 Avenue of the Americas, 15th Floor
New York, New York 10013
212.413.4462
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