Posted on: 26th Dec, 2012 09:11 am
My wife, and I were approved for a USDA rural development loan, we have done, and submitted all necessary paperwork, and received a commitment letter from the lender.
Now right before closing with the whole time everything moving extremely fast (Nov 1st was start of process, so just about 2 months), the underwriter has requested a "full package review". Is this something to be worried about at this time in the process, or is this just the nature of the beast around the holiday time, just starting to get worried. :? thanks
Now right before closing with the whole time everything moving extremely fast (Nov 1st was start of process, so just about 2 months), the underwriter has requested a "full package review". Is this something to be worried about at this time in the process, or is this just the nature of the beast around the holiday time, just starting to get worried. :? thanks
Hi Guest!
Welcome to forums!
The underwriter can ask for a full package review. There is nothing unusual about it. If you have submitted all the required documents, then you shouldn't worry much.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
The underwriter can ask for a full package review. There is nothing unusual about it. If you have submitted all the required documents, then you shouldn't worry much.
Feel free to ask if you've further queries.
Sussane
If you have all the valid documents, then don't need to worry. It's just like re-confirmation. Your loan will be approved.
In the aftermath of the property market crisis, lending standards have been made more stringent. Underwriters are also scrutinizing your documents more seriously. However, since you have all the relevant documents ready with you, you don't need to worry at all.