Mortgage Loans

[clockmaster22000]

thats good to know we are going thru fgmc and our loan documents and apprasial was submitted last thursday we havnt heard anything at all other than an email wanting us to esign some stuff. how long does the process usually take

[blessed92380]

---

clockmaster22000 wrote:

thats good to know we are going thru fgmc and our loan documents and apprasial was submitted last thursday we havnt heard anything at all other than an email wanting us to esign some stuff. how long does the process usually take

---

I am going through American Financial Resources so not the same lender but I can tell you that it took 6 business days to get a response/conditions back after my broker submitted our loan application.  

[clockmaster22000]

fgmc has on there website that the turnover time for conditions is 3 days and closing is 9 days so im hoping they stay true to what there website says as we are having to sign an extentions today

[Watching]

I just went to underwriting with FGMC yesterday and my LO told me that normally it would be 72 hrs but the underwriters have been really backed up lately and it has been taking about a week to come back..

[clockmaster22000]

well our application was submitted the same time as someome else and they were already denied in the first couple of days. we turned in all of our documents apprasial with the application. they already sent the email  for  us to esign and they sent us a letter on monday stating that they ran our credit reports and scores and what they were so im hoping that means they are activily working on ours. what were your  conditions.

[Watching]

We have just turned in the app and documentation W2's & Paystubs... They gave us the Pre-approval we are now waiting on Guaranteed Approval from underwriting. 

[clockmaster22000]

were waiting for the finial go ahead so that we can sit up our closing date.Ugh.i hate waiting. good luck. i will keep you updated since we are a few days a head of you  we started the process last thursday

[clockmaster22000]

we had to sign an extention just in case  we dont close by wed. but our realtor talked to the head guy at the LO and he said that our loan is in the final stages of underwritting. we never recieved any conditions or anything so im hoping that hes right and not just saying something  bc he didnt want to be bothered. ugh. Im thinking that this should be the week that we close.fingers crossed. anywho this is my experience with fgmc.

[Watching]

How much time has passed since you first filed your app till u are waiting on conditions?

[clockmaster22000]

we sent in the app douments and apprasial all together on april 26 so 8 buisness days im assuming that we dont have any conditions the turn over time for conditions is suppose to be 72 hours and i know that they got right on it. as we had to esign things on the 26th same day and that following monday we recieved a letter telling us that they ran our credit report and what our scores was. we havnt heard anything since