NFCU FINANCING

[Anonymous]

I just finshed applying for a auto loan and got the message that it is in review, is this normal for nfcu? Or is this a nice way of saying that i am denied? If so will they notify me by email or phone call?  Since ive mostly heard that they give instant approvals and dont usually require income verification im not feeling very positive about this. my eq fico is 664 and i have 2 old collections from about 2-3 years ago which are paid. Ialso have several acccounts reporting balances but my overall util is about 12%. Im really worried that i wont find financing anywhere.

Message Edited by HELPLESSINFICOLAND on 06-05-2009 01:04 AM

[Anonymous]

That is normal.  Depending on the volume of loan applications they have determines how fast they get to it.  The first place it will update will be on their website.  Log-in and go to "other services" then "check status of pending loan application".  NFCU's instant approvals are generally for members that have recently had a loan through them with no issues.  Application in review is not a red flag.   Somewhere in the next 3-5 business days you will have an answer.

[Anonymous]

Some people claim to have received instant approvals from NFCU, but everything I have done has always required a Review in process.

[moondog7324]

I got an instant  NFCU approval yesterday for a $6000 used Auto loan. The check is in the mail.

[Anonymous]

As of yesterday i still had not heard anything from them so i got up the nerve to call and get a status report. The csr told me to fax my last 3 paystubs and call back later today. I figure i must have a 50/50 chance or they wouldnt have asked for the stubs.

[moondog7324]

80% chance of approval. You may also want to check the status online- on previous accounts I found out online first.

Message Edited by moondog7324 on 06-10-2009 12:33 PM

[Anonymous]

Im extremely frustrated right now. Yesterday i spent 15.00 to fax my paystubs and they said that they didnt get them, and another 15.00 today and they are saying the same thing. All my confirmations say that the 7 pages went through ok. We verified the number and it is the correct number. So i guess it will be another 15.00 tomorrow. If and when they ever get the stubs, how long until a decision is made.

[moondog7324]

You are putting the paper in upside down.

[Anonymous]

I wish that were true, but faxed 3 other things to diffent company in the exact same way and they all recieved their faxes.

[Anonymous]

If you are located near a Branch of NFCU, I would go in there with my stubs and have them transmit for you.  If there is still a problem, I would imagine a scan from the Branch Manager would suffice as "authentic".