topic Re: Finally in Underwriting!! in Mortgage Loans

Finally in Underwriting!!

Anonymous — Mon, 02 Apr 2012 21:02:10 GMT

So I found out a few minutes ago that my file was sent to underwriting on Friday!!!

Hopefully the process will go smoothly due to us getting an Approved/Eligible with no Conditions through FHA's desktop UW...

If you feel so inclined, prayers, good thoughts, ju ju, mojo, etc.. are appreciated!

Re: Finally in Underwriting!!

scmami — Tue, 03 Apr 2012 01:11:39 GMT

Yayyyy for you and prayers your way. Been following your story, hope all goes well!!!

Re: Finally in Underwriting!!

Anonymous — Tue, 03 Apr 2012 03:05:37 GMT

Thank you so much!!! I need them!!

Re: Finally in Underwriting!!

mpmss1 — Tue, 03 Apr 2012 03:34:46 GMT

Sending many positive thoughts your way!!!!!

Re: Finally in Underwriting!!

my25reasons — Tue, 03 Apr 2012 16:55:11 GMT

Sending my best wishes! I'm in underwriting right now too!. The wait is giving me anxiety!! I wish this week would hurry up and GO!

Re: Finally in Underwriting!!

Anonymous — Tue, 03 Apr 2012 18:34:30 GMT

You are getting so close!!!

Re: Finally in Underwriting!!

Anonymous — Wed, 04 Apr 2012 02:30:35 GMT

Congratulations! I too am in underwriting as of yesterday. I pray all goes well for everyone trying to get their homes.

Re: Finally in Underwriting!!

Anonymous — Wed, 04 Apr 2012 02:43:22 GMT

Good luck to both of us!!

Re: Finally in Underwriting!!

Anonymous — Wed, 04 Apr 2012 14:39:01 GMT

GOOD LUCK! I'm in underwriting as well (been waiting a week), hoping to hear something today. If I don't, I might have a mental breakdown lol

Re: Finally in Underwriting!!

Anonymous — Wed, 04 Apr 2012 15:12:22 GMT

Good Luck to you all! I predict you will all be approved

Re: Finally in Underwriting!!

Anonymous — Wed, 04 Apr 2012 15:23:20 GMT

We are all going to get approved!! Easy breezy!! I know it!

Re: Finally in Underwriting!!

Anonymous — Wed, 04 Apr 2012 15:35:53 GMT

Cat, have you heard anything yet? Normally, when your file gets submitted to underwriting, you should hear back within a couple of days with "Approved with Conditions"

Re: Finally in Underwriting!!

Anonymous — Wed, 04 Apr 2012 16:29:38 GMT

I haven't heard anything at all.

The file was submitted on Friday and someone was out on vacation, so I am really hoping we hear something back today. Our LO doesn't think that we should have too many conditions because we passed through desktop underwriting Approved/Referral, with no conditions at all minus the builder licenses, appraisal, title stuff. She said that FGMC told her they would accept her desk top underwrite as it was the FHA Total version (same they would use). Hopefully that is true...

That being said, we have already submitted LOE for inquiries, bank statements, pay stubs, W2's, tax reports, child support order, and divorce decree because she said those are pretty much standard for every UW even though desktop didn't ask for some of it.

I'm praying like mad that we hear some positive news today!!!

Re: Finally in Underwriting!!

lsjohns00 — Thu, 05 Apr 2012 03:46:53 GMT

@Anonymous wrote:
I haven't heard anything at all.

The file was submitted on Friday and someone was out on vacation, so I am really hoping we hear something back today. Our LO doesn't think that we should have too many conditions because we passed through desktop underwriting Approved/Referral, with no conditions at all minus the builder licenses, appraisal, title stuff. She said that FGMC told her they would accept her desk top underwrite as it was the FHA Total version (same they would use). Hopefully that is true...

That being said, we have already submitted LOE for inquiries, bank statements, pay stubs, W2's, tax reports, child support order, and divorce decree because she said those are pretty much standard for every UW even though desktop didn't ask for some of it.

I'm praying like mad that we hear some positive news today!!!

Hello Catacam,

Are your scores current? It looks like you were preapproved with less that a 620. I am in the same boat and was wondering what my chances were come end of year.

Re: Finally in Underwriting!!

my25reasons — Thu, 05 Apr 2012 12:54:07 GMT

My LO told me on Friday of last week that the FHA appraisal was due back and as long as that was fine (which he said would be, since I also had an appraisal done through my county) then I would be pushed through manual underwriting and should hear something "by the end of next week". Well, it's almost the end of next week and I really want to know, but don't want to pester. I think I'm going to email him to see where it stands right now. This has been the LONGEST week ever.

Re: Finally in Underwriting!!

Anonymous — Thu, 05 Apr 2012 13:25:56 GMT

Yes, those are my current scores (well as of the beginning of the month).

As far as a sub 620 loan, I really think it depends on what your file looks like.

A majority of my baddies are in the form of very old medical collections. My total bad debt is less than $5k. I have never bounced a check, had overdrafts (even though my credit union does protection for free), paid rent late, and in 10 years, have only had two 30 day lates on an old car.

I have worked in my field for 12 years, DH for 13, and we make a good income so our DTI is pretty good. I think what has been helpful for me is that our baddies (husband has never had a collection or late payment ever, but his UTI is too high) are medical bills that are old. I could pay them off at once, but my LO said not too.

FGMC took a few days to review my information before they accepted my loan, so I am feeling pretty good. Hope that helps!!

MY25, pester away!!!! My LO told me yesterday that FGMC now has a turn around time of 7 days for UW, so Friday, but I tell you, I will still call and bug her at least twice a day!!! Do you see how much they get paid!!! We have the right! lol

Re: Finally in Underwriting!!

my25reasons — Thu, 05 Apr 2012 13:31:58 GMT

Cata, I did. I pestered. I have such a complex about being a "bother". I really need to get over that. His response has my anxiety high. Apparantly the appraisal hasn't come back yet, which means they have NOT sent me off to underwriting which means it will probably be ANOTHER week of waiting. This was his response:

"We are checking on the appraisal we should have received by now."

I don't know how much more waiting I can do.

Re: Finally in Underwriting!!

Anonymous — Thu, 05 Apr 2012 13:37:36 GMT

I hear you. I am so tired of waiting. The last two months have caused me to be a nightmare, but we are almost done!!!

Have you checked out MBOhio's (Getting to 620) thread?

She closed very quickly after getting the appraisal information back. In fact I think it was super fast!! Like less than 24 hours...

Re: Finally in Underwriting!!

my25reasons — Thu, 05 Apr 2012 13:47:12 GMT

Yes! Omg, I did see that! I was so happy for her! I hope it goes like that for the rest of us.

That's right, we are almost done! I know we'll get there.

Re: Finally in Underwriting!!

lsjohns00 — Fri, 06 Apr 2012 02:10:52 GMT

I agree, I can't wait to get started. I am going to wait until the end of the year and keep paying bills on time and also paying off some debts. Good luck to you all. I will be watching for your updates.