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New Contributor
Posts: 111
Registered: ‎08-20-2012
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Re: FHA approval help, can rapid rescore save our loan?

Thexy1, had to pay $180. I just got an alert this morning from myfico.com that my score went up to 656. Still waiting on experian. That's the one I need above 640. Will keep u guys updated!! Pray for us please!


Thexy1 wrote:
It will be fine!

How much is he charging you for rapid rescore?

 

 

Starting Score:EQ 653, TU 612, EX 618 (pulled by Mort Broker)
Current Score:EX643TU637EQ659
Goal Score: 700's


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Established Contributor
Posts: 570
Registered: ‎07-19-2012
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Re: FHA approval help, can rapid rescore save our loan?

Sending prayers for the scores to come back over 640!

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New Contributor
Posts: 111
Registered: ‎08-20-2012
0

Re: FHA approval help, can rapid rescore save our loan?

So my mtg broker called me yesterday while I was at work. My rapid rescore put my mid at 647!!!! Woohoooooo!!! We are now going to underwriting today!!! He said we should have an answer end of next week!!! Is that right? I thought it was gonna be later than that. But he did talk to the lender's UW and some other person in management before he pre-approved us because of our unique situation. Meaning our 2ng mtg being charged off. 

 

Please send prayers that we get approved! I'll keep you posted!! :smileyhappy:

 

Starting Score:EQ 653, TU 612, EX 618 (pulled by Mort Broker)
Current Score:EX643TU637EQ659
Goal Score: 700's


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Frequent Contributor
Posts: 272
Registered: ‎03-05-2008
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Re: FHA approval help, can rapid rescore save our loan?

Congrats! Fingers crossed UW is a breeze!


Starting Score: 2/2013 EQ 535
Current Score My Fico: 8/2014 EQ 654| EX 661 | TU 660
Lender Pull 11/4/14: EQ 679, EX 695, TU 703
Closed on mortgage 11/20/14

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New Contributor
Posts: 111
Registered: ‎08-20-2012
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Re: FHA approval help, can rapid rescore save our loan?


songsofexperience wrote:

Congrats! Fingers crossed UW is a breeze!


Thank you!!! 

 

Starting Score:EQ 653, TU 612, EX 618 (pulled by Mort Broker)
Current Score:EX643TU637EQ659
Goal Score: 700's


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New Contributor
Posts: 111
Registered: ‎08-20-2012
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Re: FHA approval help, can rapid rescore save our loan?

So a little update. My LO text me yesterday saying that, "the UW searched and searched, he didn't see anything that would prevent this loan from gettting approved. That being said he reached out to FHA directly hoping to have an answer tomorrow, but it could be 48 hours. I really like what I'm hearing so far and things are looking good."

 

I didn't hear from him today since he's out of the office. So my question is, I thought the UW was the person that approves the loan? The UW has to call FHA? I'm a little confused about that part. 

 

So once he says "FHA approves it" are we cleared to close? Shane, any thoughts?

 

Starting Score:EQ 653, TU 612, EX 618 (pulled by Mort Broker)
Current Score:EX643TU637EQ659
Goal Score: 700's


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Registered: ‎07-28-2014
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Re: FHA approval help, can rapid rescore save our loan?


Thank you so much for your sharing. I am claiming that God grants you a victory in this area.  We are at the same point and I am claiming victory as well.  I was a 633 and paid my cc off.  Looking to hear what the processor says and then any suggestions the UW makes.  I'll keep my updates here as well.  Look forward to hearing your updates.

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