Posted on: 27th Aug, 2010 03:30 pm
My broker advised me that underwriting has finally approved my loan with the following conditions. About how much longer should I expect until the loan closes? (we're already 62 days in since submitting app & all docs)
E400-RE-RUN DU WITH FOLLOWING CHANGED: SINCE ASSETS ARE NOT NEEDED TO CLOSE, PLEASE REMOVE THE FOLLOWING ASSETS:--ASSET-DEMAND DEP., INSTITUTION: WASHITA VALLEY BANK, AMT-$33.89--ASSET-DEMAND DEP, INSTITUTION: WASHITA VALLEY BANK, AMT - $2328.28
Open
8/23/2010
E400-RE-RUN DU WITH THE FOLLOWING ITEMS CHANGED:--2. INCLUDE THE FOLLOWING DEBTS IN "CREDITS & LIABILITIES" SECTION:--- BORROWER-STEPHANIE, CREDITOR- UCS/CITI, BALANCE: $20927, PAYMENT-$441---BORROWER-STEPHANIE, CREDITOR - CHASE, BALANCE: $9475, PAYMENT - $487---BORROWER -STEPHANIE, CREDITOR- BK OF A, BALANCE: $20117, PAYMENT- $335--ENDING BACK-END RATIO TO BE
Open
8/23/2010
40.81%
Open
8/23/2010
E400-RE-RUN DU WITH THE FOLLOWING ITEMS CHANGED:--1. APPLICANT 1 INCOME = $6541.84 AND APPLICANT 2 INCOME = $3293.33.--( *** PLEASE SEE ADDL DU CONDITIONS NEEDED ALSO)
Open
8/23/2010
W261-SUBMIT MOST RECENT 30 DAY PAYSTUB FOR BOTH APPLICANTS.
Open
8/23/2010
B322-4506T PROVIDED INCOMPLETE. SUBMIT A SIGNED AND DATED 4506-T FOR EACH BORROWER, WITH ALL BOXES AND LINES COMPLETED. PLEASE REFERENCE WELLS FARGO NEWSFLASH(S) DATED 09/02/09 AND HELPFUL TIPS TO MINIMIZE 4506T ERRORS NEWSFLASH DATED 5/24/2010 FOR ASSISTANCE.
Open
8/23/2010
W302-LOAN SELECTED FOR RANDOM 4506-T AUDIT. ADDITIONAL CONDITIONS MAY APPLY.
Open
8/23/2010
W361-LOAN UNDERWRITTEN TO DU CASEFILE ID # 1020888213 SUBMISSION # 1.
Open
E400-RE-RUN DU WITH FOLLOWING CHANGED: SINCE ASSETS ARE NOT NEEDED TO CLOSE, PLEASE REMOVE THE FOLLOWING ASSETS:--ASSET-DEMAND DEP., INSTITUTION: WASHITA VALLEY BANK, AMT-$33.89--ASSET-DEMAND DEP, INSTITUTION: WASHITA VALLEY BANK, AMT - $2328.28
Open
8/23/2010
E400-RE-RUN DU WITH THE FOLLOWING ITEMS CHANGED:--2. INCLUDE THE FOLLOWING DEBTS IN "CREDITS & LIABILITIES" SECTION:--- BORROWER-STEPHANIE, CREDITOR- UCS/CITI, BALANCE: $20927, PAYMENT-$441---BORROWER-STEPHANIE, CREDITOR - CHASE, BALANCE: $9475, PAYMENT - $487---BORROWER -STEPHANIE, CREDITOR- BK OF A, BALANCE: $20117, PAYMENT- $335--ENDING BACK-END RATIO TO BE
Open
8/23/2010
40.81%
Open
8/23/2010
E400-RE-RUN DU WITH THE FOLLOWING ITEMS CHANGED:--1. APPLICANT 1 INCOME = $6541.84 AND APPLICANT 2 INCOME = $3293.33.--( *** PLEASE SEE ADDL DU CONDITIONS NEEDED ALSO)
Open
8/23/2010
W261-SUBMIT MOST RECENT 30 DAY PAYSTUB FOR BOTH APPLICANTS.
Open
8/23/2010
B322-4506T PROVIDED INCOMPLETE. SUBMIT A SIGNED AND DATED 4506-T FOR EACH BORROWER, WITH ALL BOXES AND LINES COMPLETED. PLEASE REFERENCE WELLS FARGO NEWSFLASH(S) DATED 09/02/09 AND HELPFUL TIPS TO MINIMIZE 4506T ERRORS NEWSFLASH DATED 5/24/2010 FOR ASSISTANCE.
Open
8/23/2010
W302-LOAN SELECTED FOR RANDOM 4506-T AUDIT. ADDITIONAL CONDITIONS MAY APPLY.
Open
8/23/2010
W361-LOAN UNDERWRITTEN TO DU CASEFILE ID # 1020888213 SUBMISSION # 1.
Open
I don't think there's any way in which to predict how much longer it will take you, but Wells Fargo (it sure looks like a Wells loan) ought to be able to provide you with that information. Clearly, you're in the final stages, and as long as they get the documentation they're looking for in a timely manner, they ought to be able to act on them in a timely manner as well.
A week? Two? Maybe...press them, but work with them as well, getting whatever they've asked for right away.
A week? Two? Maybe...press them, but work with them as well, getting whatever they've asked for right away.
All my broker wanted from me was recent paystubs. I turned them in the next day. I'm hoping it's very soon. I can't take the stress much longer.
Hi elovell!
Welcome to forums!
As George has suggested, you should contact then and request them to speed up the process. As you've provided with all the required docs, it might take just a few days to close the loan.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As George has suggested, you should contact then and request them to speed up the process. As you've provided with all the required docs, it might take just a few days to close the loan.
Feel free to ask if you've further queries.
Sussane