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What are you waiting for today ????

Frequent Contributor

Re: What are you waiting for today ????

Just received a text from realtor that we have approval with minimal conditions.  Have not heard from LO about the conditions yet but I did get a call from AAA shortly before that to set up the insurance! 

 

Our lender has insurance companies they like to work with, so they usually set up everything from their end and you get a nice discount to go along with it.  You should check with them to see if they have any companies they like to work with.

2011: EQ 580~
2012: EQ 620~
2013: EQ 641, TU98 645, TU04 635, TU08 635, EX 648 (lender)
Closed on first home 4/25/13.
Valued Member

Re: What are you waiting for today ????

Waiting for a closing date!!!

 

I recieved an email from our LO Tuesday that our loan was final approved and moving to closing, and as soon as docs arrive at title she would notify everyone.

 

It has been the longest 2 days during the entire process, trying to stay busy and not constantly watching for an email!!!

 

 

 

 

 

 

Regular Contributor

Re: What are you waiting for today ????

Awesome - both of you guys got great news. It's so good to hear positive outcomes, especially after all the waiting.

 

Thanks for giving me the heads up on the insurance, I'll check with the LO and see who she suggests.

12/11/12 Starting Score EQ FICO - 583/ TU FICO - 615/
4/1/13 - Lender Pull - TU - 645 EQ - 675 EX 712
Each One - Teach One
Member

Re: What are you waiting for today ????

I just heard from my lender and my file is now going to USDA. He said it should be 10-14 days until I hear back from USDA.
Member

Re: What are you waiting for today ????

I keep hearing about small things from the UW -- in final underwriting...

 

1st) They spotted an area of a document that I forgot to initial

2nd) They found an area on the appraisal that the appraiser needed to go back and adjust (seller's concession money)

3rd) They're making legal redo certain documents because my name on them did not include my middle initial

 

So, my question is... When they do this, does my file actually LEAVE the underwriter.. and then have to be completely resubmitted back to them? Or do they hold on it it and continue on once the correction is made?

 

I ask because I've been told final underwriting should take up to 48 hours... But if it gets kicked back for small things like this, do you have to start all over and reset the clock?

Frequent Contributor

Re: What are you waiting for today ????

I doubt it, MGM.  They want to get your file done and out of their hair.  It would be counter productive to just throw it at the bottom of the pile.

2011: EQ 580~
2012: EQ 620~
2013: EQ 641, TU98 645, TU04 635, TU08 635, EX 648 (lender)
Closed on first home 4/25/13.
Valued Member

Re: What are you waiting for today ????


foofighter74 wrote:

In-A-Limbo wrote:

 I didn't know that there are rounds of conditions.


Not everyone has them.  It's not something to really stress about.  Most of the time, you're going to get asked for updated bank statements, pay stubs...things that are easy to get and submit. Several rounds of conditions are not the norm. 


Thanks foofighting74. I feel better now hearing this.

Valued Member

Re: What are you waiting for today ????

I reviewed the appraisal report today and noticed an error. The appraiser put down 2 cars garage/carport. The house only have a 1 1/2 car garage but a nice long driveway. I'm not sure if the UW will have an issue with that. The pictures are pretty obvious that this is not a 2 cars garage. I'm nervous now. I really don't want to pay for the 2nd appraisal and the house is already appraised at the agreed sales price, no more no less.

Regular Contributor

Re: What are you waiting for today ????

If it's not a big deal to you, I wouldn't bring it up if they don't bring it up. Maybe they will miss it.

12/11/12 Starting Score EQ FICO - 583/ TU FICO - 615/
4/1/13 - Lender Pull - TU - 645 EQ - 675 EX 712
Each One - Teach One
Frequent Contributor

Re: What are you waiting for today ????

Well, you can't have half a car.  I'm sure they won't be bothered by it.  Our garage is on the smaller side and listed as a two car garage as well.  It could just be a measurement thing.

2011: EQ 580~
2012: EQ 620~
2013: EQ 641, TU98 645, TU04 635, TU08 635, EX 648 (lender)
Closed on first home 4/25/13.