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Update on NFCU Conv mtg process *update-Closed!*

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Update on NFCU Conv mtg process *update-Closed!*

Update 8/7

7/18- processor attempted to clear conditions on initial review
7/24-back to UW for initial approval due to new credit pull required
- this was very frustrating as it took until 7/29 to get an update, which was an approval
7/29- Requested statements for proof of funds
7/31- sent to UW for CTC
8/1 (am) - request for MORE bank statements (was freaking out at this point!)
8/1 (pm) - rec’d clear to close email!!!
8/2 - rec’d initial closing disclosure
8/6- Closed! (Only took 20 min)

Overall my processor was extremely responsive, quite opposite of many reviews I read here about NFCU

My only two complaints about the process: I had to upload docs several times that I had already submitted. The UW process took much longer than my processor indicated.

I wish I had stressed much less than I did, but that’s a tough ask when coming off a rebuild!
**************original post below****
I’m so anxious now, so hoping that I document it will help others.

We applied for a loan on 4/1 with NFCU. It took a couple weeks to get our pre-qual.

Contract signed 6/29
NFCU docs signed 7/5 & conditional approval letter recieved.
Appraisal ordered 7/8, received & cleared by NFCU 7/17 (within a couple hours)
On 7/18 recieved additional conditions from initial review

Some of the conditions are frustrating as they requested several bank statements I had previously submitted via secure portal. Make sure you check with your processor to ensure things are recieved...may save you a headache

Two new conditions & one update:
-Credit needed to be re-run as it’s only valid 120 days & will expire right before closing
-Both dh and my employers process payroll from a different state so we both had to submit letters from employers stating we work in Texas. (Weird but no prob)
-I was also asked to provide a credit explanation on their form...I had previously sent and email. Had to explain inquiries from 120 days prior to original credit pull & BK.

My third party financing addendum expires this Wed, so I’m really anxious to get UW approval.

My concern is that dh still has a BK on his EQ. It’s reported as a discharged CH7 while we actually have a DC CH13. We’ve been unsuccessful in getting EQ to fix it. We are passed the 7 year mark from filing so all other CR are clean so it’s SUPER frustrating to have that EQ reporting inaccurately. I made mention of the CH13 on the credit explaination so I’m worried it’s going to cause an issue being reported wrong.
RBFCU Premier $25K, Sam’s Club MC $25K, Citi Exec WEMC $27.5K, Alliant Signature $20K, SSFCU $20K, Cap1 Venture $20K, Employer CU LOC $20K, Navy GoRewards $18K, 2nd NFCU Plat $14.7K, Citi Simplicity $14.7K, PenFed Power Cash $10K, PenFed PLOC $10k, Navy Platinum $12.7K, SMG $8.5K, PenFed Promise $2.5K, Total Rewards $6K, Discover It $1.7K, Discover It $2K, Cap One QS1 $850, Overstock $29.5K
DC BK13 3/17....TU clean due to EE as of 12/17! EX clean as of 4/18! EQ clean as of 5/4/18!
Message 1 of 8
7 REPLIES 7
Valued Contributor

Re: Update on NFCU Conv mtg process

Thanks for sharing your dp's!  It does sound super frustrating.  EQ can be a pain in the rump to work with so I hope this does not cause any issues. 

Hoping the next post is about your closing!! Good Luck!

Message 2 of 8
Regular Contributor

Re: Update on NFCU Conv mtg process

Thanks for the update! Good luck!
Message 3 of 8
Frequent Contributor

Re: Update on NFCU Conv mtg process

Updated original post...Closed!!!

Ironically- We FINALLY got EQ to fix DH’s CR to indicate the correct BK type of CH13. Which then immediately fell off because it was passed 7 years. This was 2 days AFTER our credit was re-run. So...NFCU did approve a mortgage with a BK showing on his CR. Just a DP as I’ve seen that question on this forum before.
RBFCU Premier $25K, Sam’s Club MC $25K, Citi Exec WEMC $27.5K, Alliant Signature $20K, SSFCU $20K, Cap1 Venture $20K, Employer CU LOC $20K, Navy GoRewards $18K, 2nd NFCU Plat $14.7K, Citi Simplicity $14.7K, PenFed Power Cash $10K, PenFed PLOC $10k, Navy Platinum $12.7K, SMG $8.5K, PenFed Promise $2.5K, Total Rewards $6K, Discover It $1.7K, Discover It $2K, Cap One QS1 $850, Overstock $29.5K
DC BK13 3/17....TU clean due to EE as of 12/17! EX clean as of 4/18! EQ clean as of 5/4/18!
Message 4 of 8
Valued Contributor

Re: Update on NFCU Conv mtg process

Congrats on everything working out and on the home purchase!  Thank you for sharing the dp's!

Message 5 of 8
Regular Contributor

Re: Update on NFCU Conv mtg process

Hi, we cleared initial review yesterday with just one condition which was updated bank statement showing cleared funds.  So I uploaded that yesterday.  When you sent the date that it was sent back to UW is that the date you uploaded them or did the processor let you know when she sent it back to UW?  We are set to close on the 29th.  My nerves are shot! 

Message 6 of 8
Frequent Contributor

Re: Update on NFCU Conv mtg process

Not sure which date you are asking about but if I wrote sent to UW, then it was likely a couple days after I sent docs in. It seemed like it always took a couple days for the processor to confirm they were sent to UW. The exception was the final request for bank statements which was only separated by a couple hours from when we got clear to close. You are almost there!!!
RBFCU Premier $25K, Sam’s Club MC $25K, Citi Exec WEMC $27.5K, Alliant Signature $20K, SSFCU $20K, Cap1 Venture $20K, Employer CU LOC $20K, Navy GoRewards $18K, 2nd NFCU Plat $14.7K, Citi Simplicity $14.7K, PenFed Power Cash $10K, PenFed PLOC $10k, Navy Platinum $12.7K, SMG $8.5K, PenFed Promise $2.5K, Total Rewards $6K, Discover It $1.7K, Discover It $2K, Cap One QS1 $850, Overstock $29.5K
DC BK13 3/17....TU clean due to EE as of 12/17! EX clean as of 4/18! EQ clean as of 5/4/18!
Message 7 of 8
Regular Contributor

Re: Update on NFCU Conv mtg process

Awesome! Thanks yes I was wondering if that was the date that the processor confirmed they sent to underwriting! 9 days out I wil cry too lol
Message 8 of 8
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