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Question about Clear to Close?

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mlearma
New Contributor

Question about Clear to Close?

I guess I should be happy...we are scheduled to close tomorrow at 3:30.

 

Our broker sent us the "clear to close" message at 7:30 am last Friday and said to schedule it for late Monday.

 

Then a few hours later he came back and said "good news...the closing department did your final audit and it is ready to send your packet to the title attorney".  I need you to send your two most recent bank statements.  He promised this was it and we were 100% good to close on Monday.

 

Is that normal, because I swear I've given the same bank statements at least 3 times.  He said this time it came from the closing checklist and not the UW.

 

THis process has been "horrible" and I just can't stand it anymore.  We applied 1/9 and have given documents again and again and again. 

 

I'm praying that by tomorrow night I can actually enjoy my new home. 

 

Thanks and any advice would be much appreciated.

Message 1 of 10
9 REPLIES 9
Anonymous
Not applicable

Re: Question about Clear to Close?

2012 and that's just the way it is today.

Message 2 of 10
namvet
Established Contributor

Re: Question about Clear to Close?


@mlearma wrote:

I guess I should be happy...we are scheduled to close tomorrow at 3:30.

 

Our broker sent us the "clear to close" message at 7:30 am last Friday and said to schedule it for late Monday.

 

Then a few hours later he came back and said "good news...the closing department did your final audit and it is ready to send your packet to the title attorney".  I need you to send your two most recent bank statements.  He promised this was it and we were 100% good to close on Monday.

 

Is that normal, because I swear I've given the same bank statements at least 3 times.  He said this time it came from the closing checklist and not the UW.

 

THis process has been "horrible" and I just can't stand it anymore.  We applied 1/9 and have given documents again and again and again. 

 

I'm praying that by tomorrow night I can actually enjoy my new home. 

 

Thanks and any advice would be much appreciated.


  Don't see any problems here.  Sounds like the different departments are not the same page.  Mutiple requests for the same document happen all the time.  You got the clear to close so get ready to sign your life away.  Congrats on the new home.

Message 3 of 10
StartingOver10
Moderator Emerita

Re: Question about Clear to Close?


@namvet wrote:

    Don't see any problems here.  Sounds like the different departments are not the same page.  Mutiple requests for the same document happen all the time.  You got the clear to close so get ready to sign your life away.  Congrats on the new home.

+1 Congrats! Smiley Happy

Message 4 of 10
drkaje
Senior Contributor

Re: Question about Clear to Close?

Congrats!!


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Message 5 of 10
Anonymous
Not applicable

Re: Question about Clear to Close?

I completed a refi last week and I gave them all the documents upfront in Jan but then they wanted updated ones in Feb.  And at the end they had to re-verifiy my employment.  They called it a quality control check.  My broker said that's typical these days.  But, everything went fine and they paid off my old loan on schedule.

 

Congrats and I hope everything goes just fine for you as well Smiley Happy

Message 6 of 10
webhopper
Moderator Emeritus

Re: Question about Clear to Close?

I closed on 1/24, and I had to do the same thing... Also, the seller on my house had to go home to get their paystubs in to their lender and get them submitted before closing on their new house...  So ya, seems typical these days.

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Message 7 of 10
StartingOver10
Moderator Emerita

Re: Question about Clear to Close?

Yes, your documentation has to be current, not later than 30 days old and in some cases, less than that. Especially paystubs!  I have seen lenders check employment (again) the day before closing!

Message 8 of 10
namvet
Established Contributor

Re: Question about Clear to Close?

Getting a mortgage processed, approved and closed has always been difficult.  Having borrowers and their loan officers jump through hoops has been going 'on for years.  I think underwriters feel the need to "CYA" and justify their employment.  Those last minute conditions really cause a lot stress.

Message 9 of 10
boomhower
Valued Contributor

Re: Question about Clear to Close?

That's common.  They also checked my employment again just a couple days before closing.  They actually used an outside company to do it, said it was part of some new requirement.

Message 10 of 10
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