Even more documentation? When will it stop? Stressed!

[Booner72]

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@MarineVietVet wrote:

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@Booner72 wrote:

AAAAGHH!!!  This is the worst thing ever.  I wish MV would let me swear so I can call him names!!!! (Maybe this once, MV?)

Sorry. But I have the same urge from time to time. 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

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meanie!

[mlearma]

Over the weekend we were asked for more documents...more documents and more documents.

Even my realtor is amazed by what they are asking for.  He said the lawyers normally do this at close.

1.  Provide builder warranty information

2.  Is the home built to energy efficient standards

3.  What is the builder's VA member #?

4.  HOA rules and by-laws and fees associated with HOA.

I have been told by the processor that I have a conditioned approval and as long as I provide everything that we will close.  The broker commented "to avoid delays at closing he needs the information as quickly as possible"

Does that mean I am getting the loan?  I'm afraid to call and ask a clarifying question.  Our current house closes in 12 days and I don't know where I'm going.  Our builder will let us move in as soon as we have the "clear".  Aaaaahhhh!

[Anonymous]

He works for you, not the other way around. Without your transaction, he loses business. Remember that.  I'm surprised he would treat anyone like that, let alone a veteran.  As far as the documentation, it's a neccesary evil these days. 

[StartingOver10]

If it makes your feel better, those documents are collected by the lender here in our area before the clear to close also. In fact, you should have had your HOA docs at the beginning of your transaction for your review well within your inspection period. The other documents are required with new construction and are provided well before closing. It is not the job of the attorney or closing agent to provide those docs because your loan can't be approved without those items.

As to what the lender will need to satisfy your conditional approval - don't you have a copy of the written approval with the listed conditions? You should have that so that you can "checkmark" each item just as the processer is doing. Your entire file will need to go back to the underwriter to show that the conditions are met and then, if everything is satisfactory (and it should be), your clear to close will be issued. Get in contact with the loan officer to get a copy of your conditional approval.

[mlearma]

I just keep getting bullet point lists in email form.  I've never actually gotten the conditional approval list on any form or letterhead.  I've been told that verbally.

[StartingOver10]

You are entitled to the conditional approval in its entirety.

Normally they run 3+ pages with each and every item you need to provide (and other items required by the lender such as clear title).

Ask your loan officer or your processor for the letter. I am very surprised you don't have it already.

[mlearma]

I do not know what to do....i need my myfico friends to give me there advice.

Our buyers on our current house have their "clear" to close.  They want us to vacate and be out by next Wednesday per the sales contract.

Our broker has not gotten us the clear yet.  We have had paperwork to him for more than 3 weeks.  I keep asking for updates,  He originally sent me the list of additional items needed and I got them to him the same day.  Then he asked for some builder items.  I got them to him same day.

I emailed him Friday (he wont talk to me on the phone) and told him I need a clear by Friday 2/10).  He said he will know details on Monday.  Hello....I have no where to go and the builder will not let me move in to the new house without the clear to close.

I have children and I feel I should at least be able to find out where we are at.  My last email from him stated that I am the one delaying the process because of all my questions.

He owns the company.  I respect that he is busy, but I feel that I am getting nothing from him.  I asked for the conditions list, copy of the appraisal (I paid for it) and the underwriter conditioned approval.  I have none of them.   I also work from my home office.  I don't know that I'm asking too much...but part of me is thinking I need to stay at a Residence Inn for a while and find a new lender.

Today, I got a request for even more documentation

Maybe I become a renter.  I have no idea where I will be one week from now.

[FSUGAPEACH]

What a jerk! Don't walk run!!!!!! I would find a new lender ASAP!

[StartingOver10]

It sounds like your loan officer is out of his element.

You may need to find a short term rental and a new lender in order to get this loan done.

You can make application with another lender without stopping this financing. However, if the appraisal is done (and it should be) then the new lender will request a transfer of the appraisal to their firm. When they do, it will raise a red flag to your current lender. But at this point, I don't think you have any other option. Your current loan officer doesn't sound like he knows what he is doing based on what you have posted here.

[mlearma]

Our appraisal is done and we called VA to get the case# and everything for a new lender.  They gave us everything we need. I had a new lender pull our credit today and run us through DU.  Approved again! 

The new lender understands our urgency and said he can get us a clear in 10 days because we have everything from COE to the appraisal.  I'm done with being treated like a piece of garbage for asking basic questions.  I have not bought a house in 13 years.  Things have changed.

We are not cancelling the current loan application, which is locked in at 3.625%.  If we get a clear in the next few days we will simply bite our lip...close and then kindly cancel the other one.  I hate doing that....but when it comes to my finances and my family I will do what is right for us.  I have been upfront with my new lender on all of this.  What a day...I think I am going to relax or even work.  Work seems to be more relaxing then this process.