Disappeared for awhile... back once again... with a mortgage in the works!

[JMN]

So I've been a member here for 4-5 years... disappeared when life, graduate school, and what not got crazy, but I'm back!

AND I'm in contract to buy a brand new town home. Excited, but super nervous - while I work in banking, and know the ins and outs of mortgages and underwriting, it is VERY different when it is your deal under review.

Currently, loan package is with the processor, preparing to be sent to underwriting. Closing date of 4/16 (opted to take a longer close as I'll be out of state on business late March).

So yeah... wish me luck. I've done lots of reviewing of the deal, and it seems to all meet lending criteria... but I'm not celebrating until the fat lady sings.

[ShanetheMortgageMan]

Good luck, most of the time things work out just fine.

[JustJen]

I'm right there with you JMN...my loan was submitted to processing on Wednesday. I haven't heard anything yet and I'm getting antsy lol. I'm trying to tell myself that it's a good thing that I haven't heard anything, because they must have what they need as they haven't requested anything from me yet.

I know they requested the appraisal be done and they won't submit to underwriter without it...so I'm curious to know if that's what we're waiting on or are they still verifying other stuff as well. We'll see if I make it through the day...but if I haven't heard anything by the time it gets close to the end of the day I might contact LO and try to get an update.

[BaileyMae]

My close is scheduled for 4/15. I've paid for the appraisal exactly a week ago but I'm itching to ask my LO when it's going to be done exactly. I'm trying to be patient. Lol. I'm also waiting for the sellers to respond to the request to remedy. Sent it back to them exactly a week ago. They have until Thursday to respond. Can't tell you how many times I've refreshed my email.

[DallasLoanGuy]

congrats and good luck

[JMN]

Apparently all conditions on my side have been met and they're just waiting for me to do the walk through to see if there's anything that I want corrected (it's new construction).

Looking at about 10 days from close, but I've already walked the home, and feel nothing needs improvement, so my Realtor said we'd likely be able to close much sooner.

So woohoo!

[Mrs_hambright]

Congrats!! Do the happy dance!!

[babyeyes00]

Congrats to you

[JMN]

Just a quick update - still haven't closed yet - will be sometime this coming week. Apparently some final condition was missing that wasn’t discovered earlier, causing an initial delay in early April - no biggie, not a major condition, and it was an easy fix. 

Then, late last week - and I kid you not - MY UNDERWRITER DIED. Literally died - while working on my file of all things (hope that's not a bad omen or something...). Caused a bit of chaos with my lender (smaller firm), causing an additional delay as my loan as well as quite a few others had to be reassigned to other underwriters, which caused a backlog.

According to my MLO, reassignment was complete early this week, and all conditions signed off on, and it has gone to final quality control before documents are drawn up.

I just can't stop thinking SOMETHING is going to come up in QC to delay it again - from what I was told, a newer underwriter to the company completed the file, but it was then reviewed and signed off on by a senior underwriter, so I guess I have nothing to worry about... I've just had the most bizarre first time buying experience, so I keep thinking "what the hell is going to happen next?"... 

In a related note, I got 15+ new gray hairs during this experience... 

[JMN]

Three little words that mean so very much...

CLEARED TO CLOSE!

Signing Wednesday! So happy right now!