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Old 09-29-2011, 10:40 AM
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Default Is it normal for mortgage account...

...managers to leave a mortgage company and take their clients with them? My wife and I are purchasing a home, we have had 2 account managers from the same mortgage company leave the company we are getting our mortgage from. Both times, the account managers have tried to essentially "poach" or steal our business from the original mortgage company.I am wondering if this is a common practice, or even if it is legal? For me it seems a bit under-handed or shady at best. It does not leave me with a comfortable feeling with either the mortgage company or the account managers.Thank you in advance.We have looked at purchasing 2 different short sale properties which is why this has been over the course of about 6 months. The first house we decided against after negotiating a price with the sellers bank. That is when the first account manager left, most recently (this week), the new account manager had been in the process of approving our mortgage. Adding more, we own a home currently that we are very upside down, so the underwriter wanted to make sure we aren't going to walk away from either home by having us write a letter explaining the need to purchase a new home. After we submitted our letter, our account manager left the mortgage company, he called us up and mentioned that the letter was denied, but that he had explained the situation to the underwriter at his NEW mortgage company and they would not have any issue approving the loan.
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