Mortgage underwriting process

[Anonymous]

I'm currently under contract on a home.  The next step is to submit all my finanacial information to the underwriter.  The tax years they're asking for I filed late (two weeks ago and it takes six to show), how will this affect my approval process?  If anything, I'm hoping it will only suspend or slow the process. HELP!!

[JVille]

UW will not sign off on your file until they can Pull Transcripts of your last 2 yrs Tax Returns & W2’s. In most cases that means your file can’t to sent to closing (loan documents) until the UW has reviewed the Tax Transcripts and sign off.
Yes your closing will be delayed.