Some of you may or may not know this about me, but I have been in the industry for almost 20 years! Yes, I know. And in my time being an agent I have learned A LOT of things, from mentors, peers and from just by trial and error. I have been through it all, so when something doesn't look right to me, I will make sure to be upfront with my clients.
Last year, one of my friends asked me to look into what a "loan officer" was doing for one of her clients. Long story short, this particular individual kept asking for money upfront to process a loan application. He would drag out the loan process much longer than it was supposed to take and eventually tell his clients that something went wrong. When his clients would ask to get their money back, one of the documents that he made them sign claimed they were not entitled to a refund. This person is now being taken to court for fraud. You can't be too careful when applying for a loan, this process should be transparent to you and you should be able to verify your loan officers credentials with no problem.
I am now being called as an "Expert Witness" in this trial. My resume and number of years in the field has allowed me to speak with confidence regarding this particular situation. If you have any doubts or have any questions on your loan application, please give me a call! I'd hate to see anymore people fall into this type of scam.