Updating documents with LO

[jbrv]

Our LO says we went to underwriting last week on the 15th.  Haven't heard any news yet.

However, in order to be proactive, I sent my paycheck stub (from the 18th) to him along with an updated balance sheet from the bank.  Actually, my husband ran to the bank to get the balance sheet printed and took it to him, since his office is only a couple minutes from our house.  LO didn't ask for it, but I wanted him to have the most updated docs.  However, when he dropped it off, H says the the LO looked at him "like there was an arm growing out of my head" .

I had planned on sending H's paycheck stub to him this week Friday when his check goes in, along with another updated bank statement.  Is this overkill?  Abnormal?  I had read that most u/w conditions include "most recent paycheck stubs and bank balance", so I keep trying to send it just so they have it in order to save time.   My H says I'm being crazy and should just wait until they ask, but we are supposed to close next Thursday (31st) so I'm trying to keep things rolling as much as possible.  I'm not trying to be annoying....just ahead of the game?

[Laura1369]

I'm not submitting anything they don't ask for. I figure if they need it they will ask for it. I would take all that paperwork put it in an envelope and then if they ask you will have it ready to go. I know I won't have the pay stub request because I recieve VA disability so it doesn't change. Bank stuff is easy also because I am doing everything via email. So I can just down load from the bank and forward the file. 

[ezdriver]

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@jbrv wrote:

Our LO says we went to underwriting last week on the 15th.  Haven't heard any news yet.

However, in order to be proactive, I sent my paycheck stub (from the 18th) to him along with an updated balance sheet from the bank.  Actually, my husband ran to the bank to get the balance sheet printed and took it to him, since his office is only a couple minutes from our house.  LO didn't ask for it, but I wanted him to have the most updated docs.  However, when he dropped it off, H says the the LO looked at him "like there was an arm growing out of my head" .

I had planned on sending H's paycheck stub to him this week Friday when his check goes in, along with another updated bank statement.  Is this overkill?  Abnormal?  I had read that most u/w conditions include "most recent paycheck stubs and bank balance", so I keep trying to send it just so they have it in order to save time.   My H says I'm being crazy and should just wait until they ask, but we are supposed to close next Thursday (31st) so I'm trying to keep things rolling as much as possible.  I'm not trying to be annoying....just ahead of the game?

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It is highly recommended that you deliver to your lender only what it requests ... nothing more and nothing less. Trust me .... the borrower cannot drive the lender's process....never.

[TimeToRecover]

Well I guess it just depends.  even though I will not be closing till October/November (new build) my LO and LP said they appreciate my sending them my documents as I need them (this included my pay check every 2 weeks, my bank statement 1 time a month, my 401K statement every quarter).  

You could always ask if it is helpful for them to get the documents as you get them.  I don't think you need to keep printing send the bank list.  just the statements should be enough.

[ezdriver]

It is a personal decision to submit as many things after an approval as one wishes, on whatever schedules one feels comfortable with, if it makes them feel better. That said, there is zero value to one submitting a monthly banking statement and current pay stubs to a processor ... especially when a closing date is months away. Prior to approval, it makes no sense to submit anything other than what the LO requests.

Just my opinion.

[ShanetheMortgageMan]

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@TimeToRecover wrote:

Well I guess it just depends.  even though I will not be closing till October/November (new build) my LO and LP said they appreciate my sending them my documents as I need them (this included my pay check every 2 weeks, my bank statement 1 time a month, my 401K statement every quarter).  

You could always ask if it is helpful for them to get the documents as you get them.  I don't think you need to keep printing send the bank list.  just the statements should be enough.

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+1.  It definitely is helpful, as sometimes there are a lot of loans in process and remembering the exact day of the month that a paystub or bank statement comes out on isn't at the forefront of the loan officers or processors mind.  It's not a requirement, but it #1 keeps everything in the file current and #2 is a little reminder to your loan officer/processor so they may remember to follow up on something they haven't heard back on yet, etc.