Waiting for final approval-Mortage company verified student loan information

[Anonymous]

Did anyone have their student loans verified? The credit report deparment for my lender called me on a 3 way call with the US Dept of Education, they asked the Dept of Ed was I current,was there ever any late payments, how much do I pay a month and the balance. Is this standard practice?

[ShanetheMortgageMan]

Does all of that information appear on the lender's credit report?  It might not, and the US Dept of Education might only verify the information if you are on the line as well.

[Anonymous]

Yes come to think of it,she did mention incomplete information. I'm suppose to close on the 19th and the lender is just doing a VOE.

[ShanetheMortgageMan]

A VVOE (not just a VOE) is one of the last items that is done before your docs are drawn up for signing, but if it's an actual VOE (written one) then it's to get income to make sure you still qualify, and you are right, that should have been taken care of quite a few days ago, or at least not the day before you are expected to close.  I'd call up your LO and ask if there are any other items that need to be taken care of or if that is it.

[Anonymous]

WHOOOOOOOOOOOOOAAH! Got the final approval today, the lender has sent the closing instructions over to the title company and upon reciept of the settlement statement the docs will be sent over! Thanks to everyone on the board! Shane your the best!! I will give you a update after closing tomorrow! Finally!!!

[ShanetheMortgageMan]

Congrats!

[Anonymous]

Closed on Thursday! Everything went really well, we got the keys the same day!

[hijinxu]

Dont forget to change the locks!