Mortgage Loans

[adonis2011]

Thanks! This has been super emotional. We are staying positive and patient. I hope we here from Wells Fargo either way. The realtor I spoke with said once I receive a pre approval we can put an offer in for the house we want. I hope we get some answers soon. We started this journey with credit scores in the 400's less than a yr ago. We're in the 600 club now!

[MNnFL]

You are waiting on a Pre-Approval through WF? This is normally a quick process. It can be done over the phone or in person. I'm curious why you haven't been told anything yet.

[adonis2011]

Yes, we were told it's pre approval. We sent bank stmts, paystubs, w2's etc. I was told our file is with UW and we should hear something in a few days. I'm not sure why it's taking so long either- I was told this is just standard timeframe.

[adonis2011]

They ran our info in the system for an automatic approval and didn't get it... The system referred our file for manual review.

[germaine47]

I think that this is the beginning of your house buying adventure.  I like the idea of a Mortgage Broker because with my experience it was such a personal relationship.  Everything was explained to me in detail and even when I felt the road was rough she stated, "Let me worry about it,  that is what I am here for."  Manual Underwriting doesn't mean No, I can't wait until you post Clear to Close.

[adonis2011]

Thanks Germaine47 for those encouraging words. I can't wait to share the good news once I get the stamp of approval

[adonis2011]

So we received an email from a loan processor with WF. She said she'll be our contact person while we're in UW. It looks like we're going through the channels, hopefully we'll hear something soon.