FHA Loan in manual underwriting - need insight!

[Anonymous]

Hello, 

I currently have an FHA loan that is in the manual underwriting phase due to a refer/eligible from the AUS.  These past few days have been torturous due to the anticipation of approval.  My LO hasn't been really able to provide much feedback during this process since we have to wait until the UW is done.  

Here is a bit of histroy on my file. 

My middle score is 628, my DTI is 32/33 - I have two months reserves in the bank, my downpayment of 3.5% was a gift

I had one judgement on my account that I paid in full last week and sent the documentation to my LO.

I only have two open lines of credit (credit card and student loan).  I also sent rent checks from the past year, along with utility bills that I was paying. 

I'm assuming it went to refer/eligible because of the judgement.

What do you think my chances of approval are?  The anticipation is killing me!

Thanks in advance!

[ezdriver]

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@Anonymous wrote:

Hello, 

I currently have an FHA loan that is in the manual underwriting phase due to a refer/eligible from the AUS.  These past few days have been torturous due to the anticipation of approval.  My LO hasn't been really able to provide much feedback during this process since we have to wait until the UW is done.  

Here is a bit of histroy on my file. 

My middle score is 628, my DTI is 32/33 - I have two months reserves in the bank, my downpayment of 3.5% was a gift

I had one judgement on my account that I paid in full last week and sent the documentation to my LO.

I only have two open lines of credit (credit card and student loan).  I also sent rent checks from the past year, along with utility bills that I was paying. 

I'm assuming it went to refer/eligible because of the judgement.

What do you think my chances of approval are?  The anticipation is killing me!

Thanks in advance!

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If that accurately represents you entire credit profile, then you should be approved with no problem ... maybe a letter of hexplanation for the judgement but not much more. You did not say when the file hit the underwriters desk. Underwriters cannot hold on to files indefinitely. They must turn around the files relatively quickly ... from the time they open it, not from the time it gets to the pile of files on their desk. You LO should at least be able to tell you which of the two status its in.

[Anonymous]

It hit the UW's desk last Thursday morning.  I am hoping to hear something today.  The loan commitment date is 9/21