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The Joys of Loan Purchasing

I used to work for a call center quoting prices for preexisting private mortgages and land contracts. We would purchase the loan at a discount and take over collecting payments.

One of the few things we stated up front, on every single quote call, was that we only purchased first mortgages. No seconds, no lines of credit, ect.

I had given this caller a very generous quote, she accepted my offer and I sent off the paperwork. I get the appraisal back, and the house was worth hundreds of thousands of dollars more than the loan I was trying to buy.

My heart sunk, because I knew this just had to be a second mortgage and I’ve just sunk the cost of an appraisal on something worthless.

I call her back and ask her if this is a second mortgage.

Caller: “Why, yes of course it is. I told you that from the very beginning!!!”

Me: “I’m sorry, but I disclose before quoting with every call that we do not purchase seconds. Your account is noted that I asked you that question and you told me it was a First. I am not able to honor this offer and we will not be purchasing your mortgage.”

Caller: “THIS IS OUTRAGEOUS!!! You WILL be purchasing the mortgage and YOU WILL GIVE ME EVERY PENNY YOU PROMISED!!!! GIVE ME YOUR MANAGER, NOW YOUNG LADY!!!”

Me: “Yes, ma’am. One moment please.”

I put her on hold and find my manager. At this point I’m confident that I had told her no seconds, but I told him what had happened and he said he would take care of it.

An hour later he came back laughing and shares HIS conversation with her. He had pulled up the recorded call of the quote I gave her, and queued up the recording to the point where I asked her, not once, but TWICE if she was SURE this wasn’t a second mortgage.

Caller is ranting and raving about how unprofessional I am and how she wants us to honor the quote. My manager asks for her to listen and jams his handset up to the computer speaker and hits play. She listens to herself TWICE tell me that the mortgage was a first, not a second.

He gets back on the phone with her and asks if she had any further questions.

Caller meekly responded “oh, I was mistaken. Goodbye” and hung up.

submitted by /u/graceinthesouth
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Do you remember?

I guess I’ll just have to contact a lawyer. IS THAT WHAT I’M GOING TO HAVE TO DO!?