How long is a file in underwriting?

[VALoanMaster]

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@Anonymous wrote:

It was actually SUGGESTED I do that.  Why would I just pay the first person that gave me disclosures on closing costs?  Both are preferred lenders of the builder. 

As an example lender 2's closing costs came in almost 3 thousand dollars less, and the 1st lender WAY UNDERSHOT the MIP per month which FHA would never be at, which was something that was blatantly incorrect (and I saw as trying to make the monthly payment look better).

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Who suggested that to you? Actually I honestly don't care who suggested it to you, it's still wrong. I guarantee it wasn't a lender that told you to do that. It's one thing to shop lenders & a totally different thing to have 2 different lender get through the process required to have a file underwritten. You compare the Loan Estimates & make a choice & then the lender starts working on your file. You don't let 2 lenders get your file all the way through underwriting & then decide. 

Let me ask you a question. How would you like it if your boss had you work on a project for 3 weeks while someone else was doing the exact same thing & at the end your boss said thanks but I'm going with the other option & by the way, you are not going to get paid for the last 3 weeks of work you did?

[Anonymous]

First off Actually it WAS lender 2. And he wanted the opportunity for the loan. HE made the decision to go thru underwriting not me. He ran it as TBD on property knowing full well I had gone thru underwriting and approved conditionally w another company 2 weeks earlier. I just wanted his figures. Again HE made those decisions with NO commitment from me. That's on him.

Secondly you are very rude and harsh.

[Revelate]

OK.

Understand tempers can flare, we're human, it happens, but I think all the relevant information has already been posted.  Closing this thread as a result.

--Revelate, myFICO moderator