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Does anyone know what this means??


Does anyone know what this means??

I tried for a preapproval through NFCU.  I got the below in response.  Is this a denial/aprroval/neither?


Dear Member,

Thank you for choosing Navy Federal for your financial needs. We are currently experiencing heavy purchase volume due to record low rates. After a review of your loan application, a mortgage loan officer will contact you to discuss and answer any of your questions.

It will be helpful if the following items are available during the initial call.

Name of real estate agent, address, phone & email.
Ratified Sales Contract (If Applicable)

Your loan will be processed as quickly as possible. We greatly value your membership and look forward to working with you. Our office will be closed Friday, July 3, 2015 in observance of Independence Day.

Current scores EQ 659 TU 701 EX 703 as of 6/2017
Message 1 of 4
New Contributor

Re: Does anyone know what this means??

It's a "we're busy and don't have time to look at your application right now and might not have time for a while" response. I guess all their LOs currently have a stack of files on their desks and yours just hit the bottom of the stack. They'll get to it when they get to it.


I'd call someone else. There's no way I'd want to work with a lender who is that overloaded.

Experian 786, Equifax 799, TU 786 (4/15)
Experian 786, Equifax 791, TU 786 (5/15) EQ dinged 8 pts for HP from Discover App

Trying to hit 800! Just because.
Message 2 of 4
Senior Contributor

Re: Does anyone know what this means??

NFCU is one of the best lenders out there today. I just used them and they processed/approved my loan app on Memorial day! The housing market is red hot in many areas of the country and many lenders, as well as the IRS] are experiencing backlogs. You can wait for them to call you or you can pick up the phone and call them ... 24x7 [which other lender offers that?].


Message 3 of 4
Valued Contributor

Re: Does anyone know what this means??

Basically, you are trying to tell them, "I want to give you money" and their response is, "We are too busy."


I would look elsewhere. I have nothing negative to say about them as they are usually great, but I would recommend finding a lender that will give you the attention you deserve.

Mortgage Loan Officer licensed in CA & AZ

Message 4 of 4
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