My fiance and I are in the process of buying a house (FHA 30 year). We were approved with conditions last week, and are scheduled to close next week on Aug. 6. Most of our conditions were normal (appraisal, ins., etc.) with a few requests related to credit blunders I made in 2009/2010 after I graduated from school and didn't have a job. The underwriter requested a 12-month payment history for a collection account I've been working on paying off for the last several years. It was a private student loan that went into default. I've made monthly payments on the debt since 2012, so I didn't think it would be a big deal to get a payment history from the collection agency. I called the collection agency and requested a payment history last Tuesday, July 21. As of Monday, July 28, I hadn't received anything, so I followed up with them. The person I spoke to told me they'd had to submit the request to the actual lender, who was generating the payment history. The collection agency received the payment history on Monday, and they were mailing it out that day.
Meanwhile, my LO has not submitted our file back to underwriting to get a CTC because we're still waiting on insurance (the ins. co. is dragging their feet). Seeing that the payment history might take a while to get here from the collection agency, I decided to try something else. I printed out all the cleared checks (from my bank account) to the collection agency from the last 18 mos. and sent those to the LO along with summary of all the checks.
Has anyone else had to submit a payment history? Does anyone know if copies (front and back) of cleared checks will work? I'm nervous because 1) I still don't have a payment history from the collection agency and 2) if the checks don't work, we don't have a lot of time to fix it before our scheduled closing next week.
Thanks in advance for your help!
