01-09-2013 10:33 AM - edited 01-09-2013 12:46 PM
Spoke with the loan processor again this morning and asked about the LEO for the NSF fee. He said he sent it back to UW and it should be back out by end of next week. He didn't forsee any problems with the LEO, said it's more of a formality that they have to ask, but UW does need to review it. If no other conditions are asked for from UW, then we'll received "verified credit approval" on the file.
He said the "verified credit approval" is the last step in the process for now, which is as final of an approval you can get until it's actually time to close. The next time we would be in touch is 30-45 days from closing when they need updated bank statements, credit report and W2s (or taxes/P&L in our case).
01-09-2013 12:42 PM
You should be fine Mike unless you have something that can cause changes on updated documents.
Few more months and you will be busy in your new home and less time on MYFICO!!! lol
01-14-2013 08:19 AM
Nothing new yet, waiting until the end of this week which is when the LP said he'll get the file back from Underwriting. The LP is expecting to get "Verified Credit Approval" meaning that we are done with conditions and can relax...for now.
01-14-2013 08:31 AM
Haha i do ok with waiting if I know what date I'm waiting for...and the LP said Friday this week, so I'm ok. I hate when they leave it open ended like "We should hear something any day now"...that would kill me.
I did go back by the development this weekend and poked in some homes that are under construction and I can not wait until ours starts! One house I walked around in was almost done, already painted inside and flooring installed, had that new house smell...got me all kinds of excited haha.
01-14-2013 10:21 AM
Holy crap!!! I just logged into our online loan account and saw that the "Loan Status" changed from "Conditional Approval" to "Approved"!
We do still have conditons listed, but they are things like "Provide 2012 Tax Return" and "Sign Finance Agreement" plus they added a new one, which is to provide a savings plan for the closing costs, which is no big deal at all. We are supposed to close in June, so they will need updated bank statements and credti report at that time but I'm super excited! Holy crap!
Copyright ©2001-2013 Fair Isaac Corporation.
All rights reserved.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.