Underwriting!!

[Mike_B03]

The waiting until the last minute thing kills me. It literally seems like they have 30 days for the whole process, but they don't start working on it until about day 25. I don't get it, it must be of one those "that's how it's done". 

I can't stand when they tell you a deadline and then don't stick to it. I'm ok waiting a reasonable time if you say "It'll take 7-10 days", then I can expect it and I'm not stressed, but when the 10th day comes around, there better be something to report.

[Rwp2906]

Still in underwriting....

[tooleman694]

It takes a few days. Most of the work is done by the loan processor. When it gets to the actual underwriter it moves quick.

We made it thru underwriting in just a couple days.

[ceejx]

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@Rwp2906 wrote:
Wow, I thought we were in the home stretch. Appraisal came back better than expected, LO told us our documentation was great (i keep everything). He said it should move quickly....i guess quickly can mean anything. Happy to be at this point, can't believe we built our credit back up to qualify. These boards are amazing

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Be careful so you don't get your hopes up and then shot down I was told I would move quickly and was suppose to close 2 weeks ago, and one little thing after anothet set it back, I finally closed today... but 

[Mike_B03]

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@seigex wrote:

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@Rwp2906 wrote:
Wow, I thought we were in the home stretch. Appraisal came back better than expected, LO told us our documentation was great (i keep everything). He said it should move quickly....i guess quickly can mean anything. Happy to be at this point, can't believe we built our credit back up to qualify. These boards are amazing

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Be careful so you don't get your hopes up and then shot down I was told I would move quickly and was suppose to close 2 weeks ago, and one little thing after anothet set it back, I finally closed today... but 

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Congrats on the closing!

What kind of things did you run into that kept delaying it? If you wouldn't mind sharing with the rest of us so we know what could be waiting.

[ceejx]

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@Mike_B03 wrote:

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@seigex wrote:

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@Rwp2906 wrote:
Wow, I thought we were in the home stretch. Appraisal came back better than expected, LO told us our documentation was great (i keep everything). He said it should move quickly....i guess quickly can mean anything. Happy to be at this point, can't believe we built our credit back up to qualify. These boards are amazing

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Be careful so you don't get your hopes up and then shot down I was told I would move quickly and was suppose to close 2 weeks ago, and one little thing after anothet set it back, I finally closed today... but 

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Congrats on the closing!

What kind of things did you run into that kept delaying it? If you wouldn't mind sharing with the rest of us so we know what could be waiting.

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Thanks!

The longest delay was the underwriters, loan officer and escrow all assumed the termite had been signed off, when it actually wasn't, and a repair needed to be completed to finish the termite inspection. That was about a week delay.

Then they thought a paper was signed that wasn't, and they got it uploaded 3 minutes too late to fund and record on Friday, then on Monday the network went down at the escrow office so they couldn't complete the HUD-1, and finally today everything was completed

[Rwp2906]

Closing 12/28!!!!!

[tooleman694]

Yes!!

[ceejx]

awesome! It'll be a good feeling ot be done with that part, but then the stress of moving starts.. congrats and good luck with your new home!