Thursday, September 20, 2012

And we're off... (to underwriting)

I got a call from my Loan Processor (LP) on Wednesday (9/19/12) asking for additional documents & information.  I thought that I was pretty thorough in providing just about everything during the loan application but I guess not.  She requested letters, more tax documents, my 401k plan statements & my position's salary key to verify my income with a service called "The Work Number".  I spent most of the day trying to recount reasons for deposits and writing explanations for those deposits.  Most of which came from selling things via Craigslist :) 

I also had to write explanations for a teeny-tiny derogatory item on my credit report that was paid off sooooo long ago.  I couldn't wrap my brain around why it even mattered at this point.  But none the less I submitted all of those documents a few hours after her request. 

I submitted the loan application on September 4th so I was a little disappointed to learn that 2 weeks later we were still so early in the process. 

She emailed me this morning to say that my loan has been moved to underwriting and that generally it takes 7-10 days for approval.  I hope so!!

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