2nd level review ..... I'm panicking

Anonymous · ‎09-13-2016

so my L/O from wells fargo just told me my file has to go to a 2nd level review because of my credit history for the last year I havent been late on any payment and basically have no debit... but in 2014 and 2013 I was late on my car payment like 13 times I did refinace my car loan to lower the payments and ever since i havent been late... but now that I'm appling for a mortgage its making them think.... I did write a letter of explanation about the matter... anyone have any input ???? i'm I going to get turn down

Anonymous · ‎09-13-2016

Breathe. It's all going to be ok. If it was 100% a no, it would have been a no. Set your expectations low and start looking for another lender. There are tons of awesome lenders out there if this one doesn't work out! Just don't wait for this one to string you along.

Also, if you have a realtor, have them but the crap out of your lender until they give you a straight answer. That's what they are there for!

Anonymous · ‎09-13-2016

thx... how soon you think I should start looking for another lender...

Anonymous · ‎09-13-2016

Now. Don't let this sink your ship. I bet you'll find a better lender than Wells. I hear Wells is pretty bad.

elim · ‎09-13-2016

In the past few days WF has had the largest banking fine in history placed against them for being scum. Don't stress over these idiots.

Anonymous · ‎09-13-2016

I'm trying to stay positive... I really dont want to loose this house that im trying to get approve for... is wells really bad???

elim · ‎09-13-2016

@Anonymous wrote:
I'm trying to stay positive... I really dont want to loose this house that im trying to get approve for... is wells really bad???

"Of the 5,300 employees fired in connection with the activity, 10% were managers or higher-level employees..."

DallasLoanGuy · ‎09-13-2016

not sure how they work.

but i have had a lot of second level reviews. usually just ask for something simple or a better letter of explanation.

never had one killed by 2nd level.

Retired Lender

Anonymous · ‎09-13-2016

thank you.... I guess it may be a first time buyer thing of panicking.... everyone wants to hear approved but my file should be looked at by this friday.. fingers crossed...