Do you go back into processing every time you submit items during conditional approval?

[wife2froggy]

I was in conditional approval. Submitted conditions and now it says processing.

A little stressed out - closing Friday and haven't gotten my CTC.

[tooleman694]

Could be a couple rounds, first off your LO gathers everthing they think UW needs. Then your processor may want to add more items. Then it goes to the UW and they may come back with more. You supply those and if it is enough you get clear to close. But sometimes what you provide leads to more questions and more items.

[babygirl1256]

wife2froggy ~ Don't stress out . . . Wishing you success in the underwriter approving all documentation and you receiving your CTC any day now. Perhaps the Memorial Day holiday caused a little delay.  

[wife2froggy]

Our appraiser is 100% MIA. The lender can't reach him/her. Not returning phone calls, texts, emails. Hasn't picked up the phone. Has completely missed the due date by several days and we don't have a close date now because of it. Sitting here waiting on the appraiser to return the report so I can get the Closing Disclosure.

[Pony4her]

Was this an independent appraiser or worked for a company?  Can you use another one and just pay for expedited appraisal?

[wife2froggy]

I have no idea who they used but it seems the company should be responsible for eating the cost of a rogue / missing appraiser. No?

[iced]

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@wife2froggy wrote:

I was in conditional approval. Submitted conditions and now it says processing.

A little stressed out - closing Friday and haven't gotten my CTC.

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Yes. Even with perfect everything, don't expect closing disclosures until 72 hours before closing and CTC (in my case) was day-of as they ran a second round of employment and down payment verifications the morning of closing. Some banks are that cautious on loaning out money.

Bank funds were wired to the lawyer 3 hours prior to closing, at which point we wired the remainder of our down payment to the lawyer and they would verify funds at the closing table.