How long does a fully underwriten pre approval take?

[WINNING]

I think my original credit report is going to expire... it was pulled 60 days ago.  I got her the documents as requested but she was dragging her feet and then went on vacation.  The lender has a special program with no PMI so I am trying to be patient.  I was sent to underwriting for a mortgage preapproval and it has been over two weeks.  My LO told me it would take about two weeks.  I waited the two weeks and followed up with her.  The only response I got was that when she hears something from underwriting she will let me know, but nothing yet... Is she stringing me along or can it really take this long??? There is no way for her to tell me where in the process my app is?  Is it a good sign that I am still in underwriting or are they just delaying my denial?? I'm going crazy with the waiting... I just want an answer regardless of what it is.

[Chbraswell]

I have learned that a lot of u/w with lenders are a bit backed up so 2 weeks to underwrite right now seems a bit aggressive.   However, I would check up weekly to see what's going on.  I

[Anonymous]

We are in the same boat, the LO is terrible with communication...our whole lives are on hold waiting to hear something...and she never has any updates.  

submitted signed documents for underwriting last Thursday now we are just praying to hear something soon.  Took her 8 days from the time she approved the score and we turned in bank staments, w2's, paystubs, letters of explanation ect before she sent us the documents to sign and said she was busy and forgot....sigh 

Hope you hear soon!

[WINNING]

Thanks Chbraswell... I will continue to be patient..the only problem is that she is not good with follow up.  If I ask her today what the status is, it may take her a couple days or even a follow up email to get a response from her.

[WINNING]

Hi shenny07,

Still haven't heard anything yet but I am being patient...Have you heard anything yet?  Busy and forgot???? That's terrible!  Worse than what my LO did... she said she would follow up with me on Monday and then when I didn't hear from her I sent an email on Tuesday only to get an OUT OF OFFICE for the next week and a half!!!??????  I really hope the loan goes through, but if and when it does, she will not get a good review from me at all!!!!

[Anonymous]

I am so sorry you have a crappy loan officer and don't blame you for leaving a bad review on them.  I was fortunate enough to have a top notch loan officer who made everything relatively painless even though the bank was backed up three weeks due to high volume.  The waiting is the worst part!

[WINNING]

Thanks for the encouragement jakie.  I am usually a very patient person..... if you keep informed.  If you don't,  then I can become the client from hell!  Simple communication would make the process sooooo much smoother..  so many LO cause their own headaches just because they don't communicate.  Good or bad... I just want to know.

[Anonymous]

Exactly!  Communication if she would just send an email every now and then so I didnt spend every second paniced!

Today my realtor called someone put a offer in on a house I have been watching, she wanted me to counter asked me where I was with the approval told her I hadnt heard she called the LO.....and she said my documents HAVENT been in underwriting for a week yet....it took her a few days to compile the file....are you kidding me??

Ugh she told the realtor I should hear by the first of next week but the credit was going to be a challenge because it was just barely above where it needed to be.

Which #1 she still hasnt told me a thing, and #2 the only reason we went with her is because she said she could get it thru over 600 and when she pulled them the middle scores for my husband and I was 662 and 673...and now she wont give me the time of day like Im not even worth her time.

Sigh I am so frustrated! Thanks for letting me vent. This is an emotional roller coaster. I will of course be upset if it get rejected but I have a contingency plan in my head I just want to hear someting at this point. 

[WINNING]

shenny07 I feel your pain and your are in an even better position than I am... my mid score is way below that... I don't see how your credit should be a challenge... Now my credit is a challenge...   I am so worried now.  Because the LO has been dragging her feet.... I think my credit report is about to expire!  This process has been two months in the making....

I have heard that most underwriting departments are backlogged because everyone wants to refi.

Stay patient and keep me updated.... I'm curious to see if the wait is even worth it... for both of us..... ;-)