Second level review

Anonymous · ‎09-24-2015

What does second level review means? I was told yesterday that they will be sending me a commitment letter and today I was told that my file is in second level review.

Little background. My file is getting a refer with 702 middle score with my primary jobs salary. But getting an approval through the automated system if they count my second salary. Even though I am at only 36% dti when they only count my primary salary.

The problem is that my second position is only 4 months old. I've been doing 1099 work for years now in addition to my primary salaried position. The said that they will accept my second salary yesterday. I didn't know that they would need to send it to second level for review.

So, what does it mean??? I am biting my nails now.

Anonymous · ‎09-25-2015

@Anonymous wrote:
What does second level review means? I was told yesterday that they will be sending me a commitment letter and today I was told that my file is in second level review.

Little background. My file is getting a refer with 702 middle score with my primary jobs salary. But getting an approval through the automated system if they count my second salary. Even though I am at only 36% dti when they only count my primary salary.

The problem is that my second position is only 4 months old. I've been doing 1099 work for years now in addition to my primary salaried position. The said that they will accept my second salary yesterday. I didn't know that they would need to send it to second level for review.

So, what does it mean??? I am biting my nails now.

Is Chase your Lender?

Anonymous · ‎09-25-2015

No, It's Freedom Mortgage.

Any insight?

Anonymous · ‎09-25-2015

Bump..... Anyone?

DallasLoanGuy · ‎09-25-2015

could be a qc check on a random file?

could be to grant an exeption..... so they want a 2nd set of eyes on the file.

not enough info

Retired Lender

Anonymous · ‎09-25-2015

Thanks for looking. They said that they would accept my second W2 employment as part of the mortgage approval. Then it went to second level review.

Does DU system differentiates between the score? How likely is it that my file would get a refer with 702 middle score and eligible with 720? I am fully expecting my scores to go above 720 next week since I just paid some balances off on y CC.

@DallasLoanGuy wrote:
could be a qc check on a random file?
could be to grant an exeption..... so they want a 2nd set of eyes on the file.
not enough info