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03-29-2012 12:56 PM
I just received a call that my paperwork has gone to final underwriting.
1. what doe that mean and where has it been all week if not in underwriting?
2, What is the average length of time.
I don't want to put in for time off or alert my supervisor if I don't have to. She informed me that if the word comes back early enought I could close tomorrow.
03-29-2012 05:51 PM
Your file has either been with your loan officer or in the waiting queue to get to the underwriter.
Final underwriting only takes a few hours, but if there are conditions, then those have to be met, and then you could have to wait around to get back to the UW 24 hours. My loan came back twice with conditions - the first time is my payroll had to write a letter explaining a deduction, and then the second time my LO didn't sign an electronic form that she said she never signs and she was mad that the UW sent it back over something so dumb. But all was well. (I have an old thread here "Our house is going up for auction" and it's a play by play of every little detail of the mortgage process. Might give you something to do if you're anxious and climbing the walls, and give you some info at the same time.
You're VERY CLOSE.
Who told you that you could close tomorrow? I suppose you could if the UW signs off and there are no other conditions, and the title company is ready to go and has a spot for you.
Then comes funding. Sometimes you can get table funding, and then after funding the deed gets recorded. We closed on a Thursday and didn't get the keys til Friday afternoon for those reasons. But LOTS of other posters here get the keys at closing, before funding and recording, I think that depends on the state.
Hang in there!!
03-29-2012 10:22 PM
Delighted for you. Hope you can get some rest