topic Re: Back in underwriting! Here we go! in Mortgage Loans

Back in underwriting! APPROVED 05/21

Anonymous — Tue, 21 May 2013 17:38:40 GMT

Now the sweating and sleepless nights start again! We originally started this process back in late November and were conditionally approved in early January with 19 conditions, all paperwork related. We were approved and asked for two additional conditions in late January and then sat while the house got built. Now that we are about 30 days from closing, back in the shark tank as of today. Loan processor said it should be about a week or so to hear back from UW, so mid to end of next week, keeping my fingers crossed!

Re: Back in underwriting! Here we go!

playboy — Wed, 01 May 2013 16:43:26 GMT

Good luck bro.

Re: Back in underwriting! Here we go!

ccubedzx3 — Thu, 02 May 2013 11:05:20 GMT

Where are you at in Underwriting Mike? Are you done with conditions? I was told last night that everything is all set on our end....all they are waiting on is a completion date from the builder so they can reappraise it. Then all we need is a C of O....still looking for that elusive CLEAR TO CLOSE!

Good luck to you!! Your place looks great!

Re: Back in underwriting! Here we go!

tooleman694 — Thu, 02 May 2013 14:47:11 GMT

You will walk right thru it just like we did.

Re: Back in underwriting! Here we go!

Anonymous — Thu, 02 May 2013 14:54:56 GMT

@tooleman694 wrote:
You will walk right thru it just like we did.

I hope you're right man! I think we should be ok, I don't know what else they could ask for that would hold us up...unless they ask for rent history, we pay cash but the can see the same amount come out of our bank account every month, plus I would think they would of asked for that in the first round if they were going to? Other than that, I don't know, but there could always be a curveball.

Re: Back in underwriting! Here we go!

Anonymous — Thu, 02 May 2013 14:56:08 GMT

@ccubedzx3 wrote:
Where are you at in Underwriting Mike? Are you done with conditions? I was told last night that everything is all set on our end....all they are waiting on is a completion date from the builder so they can reappraise it. Then all we need is a C of O....still looking for that elusive CLEAR TO CLOSE!

Good luck to you!! Your place looks great!

We are done with the conditions for now, I don't know if the UW will request any additional conditions to be met. The file was sent in yesterday and we should know in about a week.

When is your closing date?

Re: Back in underwriting! Here we go!

ccubedzx3 — Thu, 02 May 2013 16:08:08 GMT

@Anonymous wrote:
@ccubedzx3 wrote:
Where are you at in Underwriting Mike? Are you done with conditions? I was told last night that everything is all set on our end....all they are waiting on is a completion date from the builder so they can reappraise it. Then all we need is a C of O....still looking for that elusive CLEAR TO CLOSE!

Good luck to you!! Your place looks great!

We are done with the conditions for now, I don't know if the UW will request any additional conditions to be met. The file was sent in yesterday and we should know in about a week.

When is your closing date?

We are supposed to close May 15th. They are pouring our driveway today, and all that is left is installing our light fixtures and finish the flooring. Once that is done, we will do our walk thru, and then hopefully get the keys on the 15th!!

Re: Back in underwriting! Here we go!

Anonymous — Thu, 02 May 2013 16:12:46 GMT

They are cutting it close over there huh? I'm surprised the driveway is getting done so close to closing...in our community they do the driveways about 5 weeks out from closing and within 2 weeks of closing the house is pretty much done. The construction manager does a walk-thru and marks up stuff with blue tape about 2 weeks before closing and then we do a walk thru about a week later, then close 4-5 days after that.

Re: Back in underwriting! Here we go!

ccubedzx3 — Thu, 02 May 2013 16:25:16 GMT

I spoke too soon.....The builder just sent me this email:

This week the house is at final trades. Next couple weeks the builder will be finishing flooring, final cleaning & punch-out for walk-thru.

Now that the weather is cooperating, the builder will complete final grade & concrete.

I know that last month, I was targeting for mid-May, but it looks like we need an extra week or two.

Builder did inform me that we’re closing before end of May. Sorry that I don’t have a date yet.

Great...I get another month of stress to deal with....

Re: Back in underwriting! Here we go!

Anonymous — Thu, 02 May 2013 16:28:00 GMT

Ouch, sorry to hear. Building houses where there is actual "weather" seems a lot more difficult than in places where it rains like 5 days per year.

Re: Back in underwriting! Here we go!

Anonymous — Tue, 07 May 2013 03:04:01 GMT

Ahhh the waiting is killing me! The loan processor said we should hear from underwriting in "about a week or so" last Wednesday when I submitted the conditions but I don't think I can take it anymore, tomorrow I'm emailing them to see if there is any update.

Re: Back in underwriting! Here we go!

Anonymous — Tue, 07 May 2013 13:02:09 GMT

Ha. I email our loan officer once a week....of course, part of that is just to make sure she's still alive...but regardless....lol

You'll be closed in less than 45 days. And hopefully, I will be right behind you!

Re: Back in underwriting! Here we go!

tooleman694 — Tue, 07 May 2013 13:11:30 GMT

I emailed my processor every single day during the UW process. She is a fantastic lady to work with.

Re: Back in underwriting! Here we go!

Anonymous — Tue, 07 May 2013 16:16:43 GMT

@Anonymous wrote:
Ha. I email our loan officer once a week....of course, part of that is just to make sure she's still alive...but regardless....lol

You'll be closed in less than 45 days. And hopefully, I will be right behind you!

4 weeks from today we have the signing! Longest 4 weeks ever!

Emailed the loan processor a little earlier and no reply yet, hopefully something in the next couple hours.

Re: Back in underwriting! Here we go!

Anonymous — Tue, 07 May 2013 20:15:00 GMT

Ahhh! So here I am thinking the file is in underwriting and waiting for an answer...the the files hasn't even been sent back yet! The loan processor emailed me back saying they are waiting on copies of the earnest deposit checks I wrote and once they have those, they will send it to underwriting.

They actually asked me if I could get copies from my bank as that would expedite things, and of course, so in under an hour I had copies of all the checks and emailed them over...now waiting to hear if the file is going into underwriting today and when we should have an answer. Wish I would have emailed them prior to today and not wasted a week. The loan processor did say that everything looks fine with the loan though and not to worry, so I guess that's good.

Re: Back in underwriting! Here we go!

Anonymous — Tue, 07 May 2013 20:22:03 GMT

I actually gave our lender copies of the earnest money (We had to put down $5,000) clearing our bank when we applied.

But this is why I don't wait to contact anyone. Sometimes, it feels like nothing gets done until I push people to do their jobs. That's the most frustrating part - the belief that people are working on things, when in some cases, nothing gets done unless you prod them along.

Sounds like you're going to be fine. Obviously, there's been plenty of opportunity for people to look at your file and nobody's had a major objection yet.

Re: Back in underwriting! Here we go!

Anonymous — Tue, 07 May 2013 20:31:09 GMT

It totally feels like that sometimes...like unless you email them, and remind them like "Oh yea, havn't touched this file in a week..", then nothing seems to get done.

I should have followed up last week and asked "Has the file gone into underwriting?" to get a definite confirmation.

I actually just got an email back and the processor said they will try and get the file back to the UW today and that currnet turnaround is 5 business days. I asked them to email me and confirm when it actually does go to underwriting, I'll follow up tomorrow if I don't hear back from them first.

Re: Back in underwriting! Here we go!

EmpressLuv — Tue, 07 May 2013 20:42:17 GMT

OMG Mike are u my husband lol....

But I just call my processor after not hearing something for 2 weeks only to find out that she was waiting for our deposit checks to the builder from me and one more bank statement. So I am like have u sent the file to underwriting, she said oh yes they have cleared everything, we just need to see these.....man i am so pissed cause i have been so stressed and this heffer couldnt email me from since then to tell me that....telling me oh i thought i emailed u....................ummmmmm no u didnt...it took me only seconds to send her the copies of the check...now she wants 2 months bank statement from my husband for gifting since he is not on the mortgage...his statement don't close until 22nd and she wants to get us a clear to close soon...

Re: Back in underwriting! Here we go!

Anonymous — Tue, 07 May 2013 22:05:38 GMT

Holy crap Im sweating bullets over here...heard back from the processor and even though they sound calm and say everything is good, I'm freaking out.

First they need a payment history on a judgment Ive been making payments on the last 6 months...they asked me for check copies but the payments are made with automatic withdrawls so there are no checks. I called the judgement attorneys and they said they cant talk to me, that I need to have my attorney contact them. Did that, so now waiting to hear what they can do and how fast they can get that paper.

Then, the processor said they ordered a Verification of Deposits to check the current balance on all bank accounts...thats freaking me out because I didnt know they check that, I thought they just check the bank statements at the end of the month. Our accounts fluctuate throught the month when bills go out and before we get paid again so as of today, I dont know if there is enough in there for what they need...there was enough at the end of last month and there will be again at the end this month, but a bunch of stuff just got paid at the beginning of the month that caused the balance to go low.

Re: Back in underwriting! Here we go!

tooleman694 — Tue, 07 May 2013 22:18:06 GMT

Start packing, you are about to be clear to close.

topic Re: Back in underwriting! Here we go! in Mortgage Loans

Back in underwriting! **APPROVED 05/21**

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Back in underwriting! APPROVED 05/21