Buying A Home
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Underwriting Conditions
Is this typical? Last week underwriting came back with few conditions and we were able to give them the rest of the information they asked for.
We were also told that they now have 48-72 hours to respond after our file was sent back to underwriting with the conditions. That was on Friday. Do they usually follow the time frame or is there a chance we may hear from them earlier?
I'm just exhausted from all the waiting and scrambling all over to get them information.
Re: Underwriting Conditions
Honestly, they'll either respond to you within the 48-72 hour time frame or it'll be later. The underwriting process very rarely runs ahead of schedule.
It's not uncommon to still be sorting things out and faxing paperwork on the morning of closing.
Stop at the liquor store on the way home.
http://pandce.proboards.com/index.cgi#general
Smart idea. Going to have to open a bottle of wine or 4. Patience isn't my best trait.
Generally speaking, the documentation you provide is given to your processor, which is then given to the underwriter. Where I work (and I know a lot of people in the industry, and this is the standard) documents that you provide are not piece mailed back to the underwriter. The processor waits until all conditions are met, and sends back a complete file to underwriting so they can view everything as a whole. Often times, we are waiting on homeowners insurance, appraisers, employers, title companies, credit bureaus, etc.
Not only are you subject to the underwriter's turn times, you are also subject to the processors
In all honesty, most borrowers are probably unaware of many of the stipulations that underwriters put on files. You usually only hear about the docs that apply to you, not the ones for title/HOI/appraisal/IRS