cancel
Showing results for 
Search instead for 
Did you mean: 

BamaGuy has gone to UW

Highlighted
Established Contributor

BamaGuy has gone to UW

Got a email today from the "loan processor" (I thought my LO was the "Processor?" but I reckon not).  Email said,  "I have reviewed your loan and submitted it to our underwriting department for conditional approval!  Their current turnaround time is around 3 business days.  Once I have heard back from them I will be contacting you with their credit decision and any requests that they may have."\

 

Lucky Me!!!

 

My closing date is June 19.  Once I jump this hoop do I gotta jump it again a week before closing?  I understand there are apprasials and stuff to do (home still under construction) but that has nuttin to do with me does it?

Message 1 of 14
13 REPLIES 13
Highlighted
Valued Contributor

Re: BamaGuy has gone to UW

Big congrats!  Smiley Very Happy


FICOS: EQ-812 TU-811 EX-818 Goal - 840-850 Across The Board
Total Credit Lines - 506K Gardening....
"I am the master of my fate and the captain of my destiny" Nelson Mandela
Message 2 of 14
Highlighted
Established Contributor

Re: BamaGuy has gone to UW

Nice!! Smiley Happy
Message 3 of 14
Highlighted
Established Member

Re: BamaGuy has gone to UW

Congratulations!!
Message 4 of 14
Highlighted
Senior Contributor

Re: BamaGuy has gone to UW


@BamaGuy wrote:

Got a email today from the "loan processor" (I thought my LO was the "Processor?" but I reckon not).  Email said,  "I have reviewed your loan and submitted it to our underwriting department for conditional approval!  Their current turnaround time is around 3 business days.  Once I have heard back from them I will be contacting you with their credit decision and any requests that they may have."\

 

Lucky Me!!!

 

My closing date is June 19.  Once I jump this hoop do I gotta jump it again a week before closing?  I understand there are apprasials and stuff to do (home still under construction) but that has nuttin to do with me does it?


Once the underwriter issues a conditional approval, it will list any action items for you and for others. The loan process is managed to be in sync with the construction schedule so they both end about the same time. 

Message 5 of 14
Highlighted
Valued Contributor

Re: BamaGuy has gone to UW

congrats!!!!  should be a walk in the park for you!!!

AmEx Green NPSL | Amex BCP 16K | Citi Simplicity 10k | Discover IT 9K | Chase Slate 7.5K | Amex Hilton HHonors Surpass 7K | Capital One QuickSilver 6K | Home Depot 5k | Chase Freedom 4.5K | LOC 2.5K
Message 6 of 14
Highlighted
Super Contributor

Re: BamaGuy has gone to UW

Congrats..

Message 7 of 14
Highlighted
Valued Contributor

Re: BamaGuy has gone to UW

Alright, Bama!!! Congrats!

 

And by the way, think of the processor as the last person to touch your file and make sure it is as clean as possible before sending off to UW (almost like an in-house underwriter).

Mortgage Loan Officer licensed in CA & AZ


Message 8 of 14
Highlighted
Super Contributor

Re: BamaGuy has gone to UW

Congrats.

Total CL: Around $168,750 not counting hidden TLs. FICOs in the 700-730 range.

Main cards: Macy's Amex: $24k, Lowe's, $17k, Chase Sapphire Preferred: $7k, Chase AARP: $5.2k, Chase Freedom: $5k, Chase British Airways: $5k, Discover It: $1.5k, Barclays Arrival: $2.5k, Sam's Club MC: $8.5k, Stash: $8k, Sam's Club: $10k, Wells Fargo Propel: $8k, Paypal Smart Connect: $4.9k, Amazon Store Card: $6k, Cabelas Club Visa: $5k, Nordstrom: $5k, CapOne Quicksilver: $2k
Message 9 of 14
Highlighted
Valued Contributor

Re: BamaGuy has gone to UW

Right dpeezy....

And think of the underwriter as some mythical creature who can make dreams come true or destroy said dreams with the wave of a magical wand.

We always hear about the almighty underwriter, but we never really know if they exist or not.
AmEx Green NPSL | Amex BCP 16K | Citi Simplicity 10k | Discover IT 9K | Chase Slate 7.5K | Amex Hilton HHonors Surpass 7K | Capital One QuickSilver 6K | Home Depot 5k | Chase Freedom 4.5K | LOC 2.5K
Message 10 of 14
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.