Step #8 Out of Underwriting
Congratulations. Your loan is now out of underwriting.
What to Expect:
Once the loan comes out of underwriting we will be contacting you with any questions the underwriter might have and give you the outcome of the loan. Its important to get any conditions the underwriter is requesting to us right away so we can submit them back to underwriting for final loan approval.
Next Step: Sending back the Conditions to Underwriter
After receiving the conditions from the borrower, we will submit back to the underwriter for final loan approval. This process can be 1 – 3 days sometimes sooner depending on when the underwriter receives and how long it takes for him or her to review the conditions.
Closing date is Approaching:
Your close date is approaching fast. Its important to NOT schedule moving trucks or other items regarding moving until we know exactly when we can get to step number #10. Once we have the clear to close from the underwriter we can then send loan documents to the title company for final loan closing.
During step #8 we are also working on step #9. Step #9 takes a few days and is done 3 days prior to your closing date.
- Additional Documentation
- If the underwriter request more documentation from the borrower this could cause a delay if the borrower does not get us the documentation right away.