I have applied for a mortgage from a mortgage broker and he recently gave me a loan commitment letter. But there is no mention of the lender or the underwriter. I have some doubts regarding this are as below
Is this normal? Can I trust a loan commitment from the broker, even though he is not the real person giving me the loan?
The date till which the document is valid, (which is mentioned in the document) is 15 days before the closing. Can that be a mistake? How can I close the loan, if the commitment is expiring before the closing?
- One of the conditions mentioned in the commitment letter, will only hold, till its expiration date and this is already known by the broker. In that case it is legal/valid on his part to issue this letter?