I need help. Can a mortgage broker refuse to cancel your application? I am from Canada.
I am a first time home buyer and I am closing a house soon in the second week of June (I did not get a pre-approval beforehand). I started shopping around for rates back in April and I was referred to this mortgage broker from a family friend. This mortgage broker ended up wasting a lot of my time, she would take 5-10 days to respond with an update on the rate and the rates being offered weren’t competitive enough. I ended up telling her I was going to stop using her services on May 10th.
At the same time, I was speaking to someone directly from the bank and this person offered me a better rate than what she could provide. I decided to move forward with this application now.
I did not realize it but my bank has informed me they’re unable to move forward with my application because my previous broker still has a pre-existing application open in my name. They asked me to ask her to cancel it. I sent an email to her requesting a cancellation and she said she wouldn’t be able to cancel it without confirmation from my bank representative about the rate I was offered. I gave her a screenshot. She came back to me and said she was going to go back to the bank and match this rate or go even lower and then I can move forward with her application. I declined this option and asked her to please cancel it as I have decided to stop working with you on May 10th. She told me I am running out of time and that it’s best to move forward with her now before my closing. She also made some other unpleasant comments about how she had worked so hard and that I’m using someone else instead for the same reward and outcome.
It’s been four days now, she is ignoring all my phone calls and every email I send to her about cancellation, she is ignoring it. I’ve asked her 10 times now asking for a cancellation and she keeps responding that she is looking out for my best interests and that I shouldn’t cancel this application.
I’m stuck in what to do now. I’ve tried contacting the banks customer service lines and they told me they can’t cancel a pending application and that only she is able to. I called her manager and he said he would try to speak to her.
She is still refusing to cancel and states that she has contacted a regional sales manager for the bank to investigate this other banking representative that I got a lower rate from. Is she trying to buy time?
I am at my wit’s end here. I do not want to use her anymore and I did not sign anything indicating exclusive agreement. Has anyone ever had this happen to them before? The district bank manager has spoken to me and told me he’s never seen this happen before either.
TLDR; Mortgage broker offered me a rate from the bank, I decided to stop using her because I didn’t like her service or rates. I went to the same bank directly and found a better rate there. New mortgage application is now stalled because she refuses to cancel my application open with her.
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source https://www.reddit.com/r/RealEstate/comments/13ra81c/my_exmortgage_broker_is_refusing_to_cancel_my/
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