We are in the underwriting process for our home mortgage. We can get info at mortgage loan status and they have a check list for our individual things we have to satisfy. All are personal info is satisfied, income, bank statements, w-2's, etc. and they all have check marks by them. I have a question on one of the conditions that is not marked as satisfied. It says –
Subject to re-qualification, rate or points change from 6.4%, with 0% origination fee and 0% discount fee.
Any help would be appreciated – this is stressing me out and I can't get my loan processor on the phone!! Thank You!!
Due to the very large volume of FHA applications in the pipeline, it is taking a long time for final underwriting applications to be processed. (5-7 days) I wouldn't worry too much – if your loan officer did an electronic approval (AU, or automated underwriting), then you are fine. Basically, all the underwriter is going to do is verify the information that was initially place on the application. You have already been approve via computer.
Check with your loan officer to see if you were approved via an AU system versus manual underwriting. Most approvals are now automated. They are only manual if the credit is shaky, or some of the debt to income ratios are higher than normal.
Excellent luck.