I am sure it has happened to many readers or to someone you know…a mortgage settlement gets delayed or occurs several hours late! And it is customary to blame the mortgage lender, because after all, settlement had been scheduled for weeks and weeks. How could the settlement be delayed when we all knew for so long what the target settlement date was??

Here is the truth about delayed settlements, it is everyone's fault, the lender, the seller, the buyer, the Realtors, the appraiser, etc.

Here is what happens on a typical loan file. Read the rest of this entry »