topic Re: Even more documentation? When will it stop? Stressed! in Mortgage Loans

Even more documentation? When will it stop? Stressed!

mlearma — Fri, 03 Feb 2012 13:50:02 GMT

We are doing a VA loan and my husband is disabled. We submitted everything the second week of January including the DD214. We got the DU approval and turned in the contract for our new house and the accepted offer on our current house. We are trying to figure out closing to coordinate with the buyers of our current house. Yesterday (almost 3 weeks later) I asked the broker for an update. He told me everytime I email him that I am delaying closing because he has to take the time to answer me. He continued to tell me that I am not his only customer and for him to receive 4 calls in one day regarding my loan is not acceptable (one was the realtor regarding termite stuff, one was our insurance lady regarding the binder and one was my husband regarding the Certificate of Eligibility).

A few hours later he comes back and asks us for the following:

Even more updated check stubs

2011 W2's which we just got back

clear termite letter

Divorce paperwork from me going back to 2006. Serious??

bank statement showing the ernest check cleared (already gave them a copy of the cleared check) We are doing zero down so they have to give this back to us at closing anyway.

AND a certificate of eligibility from the VA (SERIOUS)??

We called the VA and they said the lender should be able to pull that in less than 5 minutes. It will take us weeks to get it from the VA? Why didn't he tell me this 3 weeks ago?

I explained that I need to get kids enrolled in a new school district and I'm not excited about living in a hotel for a while if we do not close on time. He explained we are not his only customer and if we do not like the way he does things that we should cancel our application. Of course my check already cleared for the appraisal and fees. My jaw just dropped when we were spoken to like that...I think I was in a daze for about an hour.

I'm new to the state and have not bought a house in 13 years. It was a very pleasant and fun experience back in 1999. I even got an email from him last night telling me to stop having our people or ourselves call his processor because she left the office stressed yesterday.

I'm about to break down in tears and fear I will be homeless because they do not want to work with me. I have been thorough, respectful and gotten information to them in a matter of one day everytime they asked. I do not bug them....I might ask for an update once per week. Wanna talk about stressed? This weekend we are starting to move stuff into storage. Have no confidence and do not know where we will be in 2 weeks.

Our current house closes in 2 weeks.

Any advice or opinions?

Re: Even more documentation? When will it stop? Stressed!

terrymac — Fri, 03 Feb 2012 14:02:40 GMT

I'm sorry, but he just sounds nasty. I emailed and called my LO almost everyday and I am sure she is probably sick and tired of me, but so far she has been ama\zing. Really sorry to hear you are going through this. Good luck to you and hope everything works out for the best.

Re: Even more documentation? When will it stop? Stressed!

Anonymous — Fri, 03 Feb 2012 14:37:41 GMT

I haven't even applied for my loan officially (I'm re-approved) but everytime I hear things like this I go out and get the copy mention. I just obtained the photocopy of my Earnest check.

Re: Even more documentation? When will it stop? Stressed!

mamahearts — Fri, 03 Feb 2012 14:57:18 GMT

I would be having a conversation with his supervisor. He sounds very unprofessional, like you are just a # to him not a client. When it comes to your loan, you may not be his only customer but he's your only broker. Which means that he is your go-to person. If you can't get in touch with his supervisor to explain your concerns, then put your energy into getting all the documents as fast as possible. But he needs to keep you in the loop. If he gets 4 calls in one day regarding your loan then that means things are coming together. Good luck. It's a frustrating process but it gets you into your home!

Re: Even more documentation? When will it stop? Stressed!

mlearma — Fri, 03 Feb 2012 15:42:43 GMT

I got him everything so fast. I'm trying not to be emotional and it's too late to start over.

I just got an email saying they uploaded the additional documention to the lender and we should get more information back later today.

Re: Even more documentation? When will it stop? Stressed!

Anonymous — Fri, 03 Feb 2012 19:13:20 GMT

Definitely talk to your LO's supervisor. His behaviour is unacceptable.

Is your DH registered on the VA's eBenefits site? If so you can request a VA loan certificate of eligibility be emailed to you; it took us less than 24 hours to get one from them.

Re: Even more documentation? When will it stop? Stressed!

mlearma — Sat, 04 Feb 2012 03:25:47 GMT

My DH pulled a miracle and produced the COE and disability paperwork to show the exemption. I'm not sure how he did it...but the VA emailed it to him while he was speaking to them on the phone.

Now I just need to worry about underwriting

My husband has 815, 805 and 748 scores and mine are

690, 685 and 681. (past divorce issues).

We did get DU approval. I really hate the waiting.

Re: Even more documentation? When will it stop? Stressed!

Booner72 — Sat, 04 Feb 2012 17:37:37 GMT

AAAAGHH!!! This is the worst thing ever. I wish MV would let me swear so I can call him names!!!! (Maybe this once, MV?)

Do call his supervisor. Do write letters to the company he works for.

I, too, was able to call/email LO anytime I needed, even after hrs (only did once)....I could not have made it through that process w/o her.

We will be your support. Don't get your feelings hurt. Sounds like it's going to happen so dont sweat that part of it.

But to answer your question, the documentation isn't going to stop until you close on the house.....it just keeps coming! Part of the game.

Re: Even more documentation? When will it stop? Stressed!

MarineVietVet — Sat, 04 Feb 2012 20:12:53 GMT

@Booner72 wrote:
AAAAGHH!!! This is the worst thing ever. I wish MV would let me swear so I can call him names!!!! (Maybe this once, MV?)

Sorry. But I have the same urge from time to time.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Re: Even more documentation? When will it stop? Stressed!

boomhower — Sun, 05 Feb 2012 09:59:08 GMT

That rep is wholey unprofessional and is more or less threatening you that if you bother him to much your going to have problems. You need to talk to his supervisor and the one above him. This is beyond rediculous. Don't stop until you get satisfaction, he has not business having a job like that and talking to people the way he is. In this economy there are plenty of people capable of a nice govt job with good benefits without a chip on their shoulder.

Re: Even more documentation? When will it stop? Stressed!

Booner72 — Sun, 05 Feb 2012 17:44:37 GMT

@MarineVietVet wrote:
@Booner72 wrote:
AAAAGHH!!! This is the worst thing ever. I wish MV would let me swear so I can call him names!!!! (Maybe this once, MV?)

Sorry. But I have the same urge from time to time.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

meanie!

Re: Even more documentation? When will it stop? Stressed!

mlearma — Mon, 06 Feb 2012 13:23:17 GMT

Over the weekend we were asked for more documents...more documents and more documents.

Even my realtor is amazed by what they are asking for. He said the lawyers normally do this at close.

1. Provide builder warranty information

2. Is the home built to energy efficient standards

3. What is the builder's VA member #?

4. HOA rules and by-laws and fees associated with HOA.

I have been told by the processor that I have a conditioned approval and as long as I provide everything that we will close. The broker commented "to avoid delays at closing he needs the information as quickly as possible"

Does that mean I am getting the loan? I'm afraid to call and ask a clarifying question. Our current house closes in 12 days and I don't know where I'm going. Our builder will let us move in as soon as we have the "clear". Aaaaahhhh!

Re: Even more documentation? When will it stop? Stressed!

Anonymous — Mon, 06 Feb 2012 13:42:45 GMT

He works for you, not the other way around. Without your transaction, he loses business. Remember that. I'm surprised he would treat anyone like that, let alone a veteran. As far as the documentation, it's a neccesary evil these days.

Re: Even more documentation? When will it stop? Stressed!

StartingOver10 — Mon, 06 Feb 2012 14:34:19 GMT

If it makes your feel better, those documents are collected by the lender here in our area before the clear to close also. In fact, you should have had your HOA docs at the beginning of your transaction for your review well within your inspection period. The other documents are required with new construction and are provided well before closing. It is not the job of the attorney or closing agent to provide those docs because your loan can't be approved without those items.

As to what the lender will need to satisfy your conditional approval - don't you have a copy of the written approval with the listed conditions? You should have that so that you can "checkmark" each item just as the processer is doing. Your entire file will need to go back to the underwriter to show that the conditions are met and then, if everything is satisfactory (and it should be), your clear to close will be issued. Get in contact with the loan officer to get a copy of your conditional approval.

Re: Even more documentation? When will it stop? Stressed!

mlearma — Mon, 06 Feb 2012 14:52:08 GMT

I just keep getting bullet point lists in email form. I've never actually gotten the conditional approval list on any form or letterhead. I've been told that verbally.

Re: Even more documentation? When will it stop? Stressed!

StartingOver10 — Mon, 06 Feb 2012 15:55:36 GMT

You are entitled to the conditional approval in its entirety.

Normally they run 3+ pages with each and every item you need to provide (and other items required by the lender such as clear title).

Ask your loan officer or your processor for the letter. I am very surprised you don't have it already.

Re: Even more documentation? When will it stop? Stressed!

mlearma — Wed, 08 Feb 2012 16:37:24 GMT

I do not know what to do....i need my myfico friends to give me there advice.

Our buyers on our current house have their "clear" to close. They want us to vacate and be out by next Wednesday per the sales contract.

Our broker has not gotten us the clear yet. We have had paperwork to him for more than 3 weeks. I keep asking for updates, He originally sent me the list of additional items needed and I got them to him the same day. Then he asked for some builder items. I got them to him same day.

I emailed him Friday (he wont talk to me on the phone) and told him I need a clear by Friday 2/10). He said he will know details on Monday. Hello....I have no where to go and the builder will not let me move in to the new house without the clear to close.

I have children and I feel I should at least be able to find out where we are at. My last email from him stated that I am the one delaying the process because of all my questions.

He owns the company. I respect that he is busy, but I feel that I am getting nothing from him. I asked for the conditions list, copy of the appraisal (I paid for it) and the underwriter conditioned approval. I have none of them. I also work from my home office. I don't know that I'm asking too much...but part of me is thinking I need to stay at a Residence Inn for a while and find a new lender.

Today, I got a request for even more documentation

Maybe I become a renter. I have no idea where I will be one week from now.

Re: Even more documentation? When will it stop? Stressed!

FSUGAPEACH — Wed, 08 Feb 2012 17:49:17 GMT

What a jerk! Don't walk run!!!!!! I would find a new lender ASAP!

Re: Even more documentation? When will it stop? Stressed!

StartingOver10 — Wed, 08 Feb 2012 20:46:27 GMT

It sounds like your loan officer is out of his element.

You may need to find a short term rental and a new lender in order to get this loan done.

You can make application with another lender without stopping this financing. However, if the appraisal is done (and it should be) then the new lender will request a transfer of the appraisal to their firm. When they do, it will raise a red flag to your current lender. But at this point, I don't think you have any other option. Your current loan officer doesn't sound like he knows what he is doing based on what you have posted here.

Re: Even more documentation? When will it stop? Stressed!

mlearma — Wed, 08 Feb 2012 21:23:28 GMT

Our appraisal is done and we called VA to get the case# and everything for a new lender. They gave us everything we need. I had a new lender pull our credit today and run us through DU. Approved again!

The new lender understands our urgency and said he can get us a clear in 10 days because we have everything from COE to the appraisal. I'm done with being treated like a piece of garbage for asking basic questions. I have not bought a house in 13 years. Things have changed.

We are not cancelling the current loan application, which is locked in at 3.625%. If we get a clear in the next few days we will simply bite our lip...close and then kindly cancel the other one. I hate doing that....but when it comes to my finances and my family I will do what is right for us. I have been upfront with my new lender on all of this. What a day...I think I am going to relax or even work. Work seems to be more relaxing then this process.