sending to unerwriting for a 2nd time.

[fezwhy]

Is this common practice? Mortgage guy from Wells Fargo sent all my info to the underwriter for pre approval and I was denied. Now he says he is doing this a 2nd time but as if I have a property picked out. All I want Is a yes or no so I can rebuild if I need to. It seems like all he is doing is wasting my time. Anyone heard of this before?

[StartingOver10]

Did he tell you why you were denied?

If I were you, I would go to a mortgage banker and not Wells Fargo - you are far better off going to someone that will actually know the underwriting criteria and can tell you what you need to do to refine your file (get your ratios in line or increase your score or whatever else was the reason for your denial).

[fezwhy]

I have a a foreclosure from 2008 on 2 mortgages. I guess they still consider me high risk? I have 7k in the bank and someone willing to pay my down payment. My middle score is 637 that they pulled. Im close to just giving up and waiting a year. Houses im looking at are in the 120k and under range.

[DallasLoanGuy]

a lot of those loan officers at wells fargo/other big bank are just order takers..... they dont know guidelines.

frind a mortgage banker

[Blakeney]

Windoes. This presents issues because your loan is even at the mercy of speculation.

As a direct lender we can issue an actual underwriting pre-approval witin 24 hours before you go into contract. This solves so many headaches i can't even count them.