Evil Bill Update

Just wanted to update everyone on the Evil Bill situation.

On Friday I was speaking with Bill and we were having a perfectly nice conversation, covering both business and personal topics. I was telling him that we should have the remaining docs by Monday and will FedEx or fax them. Then, I mentioned that we were still going to shop the mortgage. That's when things went south, FAST.

I didn't get a chance to say that we were only going to check with banks/direct lenders, when he said "then I respectfully decline to be a part of this process." To summarize the rest of the conversation he felt that he was going to have to put too much time and effort on this loan and they run an honest business blah blah blah. "I am offended that based on my relationship with Keds that you would shop this." And some more blah blah blah. I didn't mention that his previous meddling had cost us $1400 and that as a family friend they should be willing to do this for minimal to no profit. That would not have accomplished anything.

So I fill Keds in. She starts to freak out. We really didn't mean to piss Bill off, but Keds called this one. We figured Bill would run and call my Mother in Law's attorney (BTW - MIL never used Bill for refinances either) because that's the usual path. I decided the best defense is a good offense, so I got to the attorney first. He was speechless. Had no idea what to say and should Bill call would do what he could to put Bill in his place.

So, I got in touch with a loan officer I had previously worked with and she is just awesome. Keds spent some time talking to her and said that it was completely different - no lectures and she genuinely wanted our business. She pulled Keds' credit, and was willing to provide the credit report to Keds so she didn't take too many unnecessary hits on her credit report. She had the perfect product for the right rate, but it was going to be iffy at best to get this done.

So it's getting late in the day on a Friday. We hadn't heard. I was getting nervous. About 5:20 or so, my phone rings. It's Keds. She wants to conference me in. Her bottom credit score jumped 200 points! That made her previous top score her middle score and squarely into the right loan! Keds has all the documentation ready and will drop it off on Monday. The loan will be done by the end of the month. How cool is that? Oh, and you should ask Keds about her "just because present."

So, I'm debating what, if anything, I should say to Bill (in e-mail of course). I do feel a little bad - she was operating strictly off of information I had given but he did know what the credit situation looked like a few months ago. He was going to pull credit at the last possibly minute to see if it came up on its own without doing a Rapid Rescore. However, given the initial rates he was quoting (7 5/8th vs the 6 7/8ths we got - ON THE SAME LOAN PRODUCT!), I am pretty sure he would have made sure they made good money off of us. But I never meant to piss him off. This was strictly a business decision.

At this point, I don't think we are going to say anything until the new loan is DONE. I've done enough mortgages to know that there is always something that can go wrong. That, and he is pre-disposed against this lender, but I think he is pre-disposed against all lenders but his own...

Anyway, things are looking up. Have a great week!