Absolutely! If you have had your home appraised and given all of the necessary documents to your loan officer then your loan officer has seriously dropped the ball. Each loan is unique but 3 months is extreme! It is safe to say 3-5 weeks is average. I hold a Loan Officer License so you know that I am not just making these things up. In case you are unaware...here are some broad strokes to help paint the picture for you. The loan officer and the lender's underwriter are duking it out. When your Loan Officer (L.O.) completes your loan package he sends it to the selected lender's underwriting department. The underwriter's job is to find reasons not to approve the loan. This is basically to protect the lender against a bad risk. He looks at the file and determines if the borrower (you) qualifies for any of his loan programs that his company (Like Countrywide) is offering. If you do, then he makes a list of stipulations that you must meet in order for the loan to go through and close. Things like income, cash reserves and good credit etc.. There are lot's of reasons for an underwriter not to approve a loan. It sounds to me like the underwriter has seen your file and your L.O. has done a really poor job of meeting the stipulations (Stips). That is why you are always needing to send him more documents and your loan has not closed. Your L.O.'s inexperience is showing. An experienced underwriter knows which companies send him files that are accurate and complete. He will favor those and skip over ones that he knows will be incomplete and a hassle to get closed. His job is to find good loans and is sometimes paid on loans closed so speed is a factor. I would advise you to get a copy of your appraisal that is done IN YOUR NAME( Which is your legal right)and start over with another company alltogether. Your L.O. has not earned his commission.
Also beware of "Yield Spread". Example: You qualify for a 5.5% rate on your loan. Your L.O. sells you on 5.75%. The lender will pay the L.O. .25% of the loan amount for closing your loan at the higher rate. This would mean an extra $375 for the L.O. to make on a $150,000 loan amount. This really adds up for L.O.'s. Look at the settlement statement closely at closing time. Things listed as "P.O.C" are things that are "Paid Outside Closing". Yield spread is one of those things. Ask your L.O. about it. Keep in mind that his legal obligation is to Disclose info......NOT to explain it. If your guy won't then find one that will. It is worth the time and effort. Hope this is helpful. Good luck.
this is a strange question posted above, but i will try to answer it, with a sensible answer. which is if you watch the x factor, something always unusual happens. this is especially true with the auditions stage of the x factor competition, and that there are quite a few strange auditions each year. that is when the most unusual things happen, with some of the strange auditions each year.
Working to figure out if a refinance is right for you is a great idea. You always want to check this kind of thing because you never know when you might be stepping right into a trap. Therefore, you need to use a mortgage refinance calculator to figure out exactly how much any particular type of refinance is going to save you. If it is not much money at all, then there may be little point to even taking the time to even get the refinance in the first place. Always keep that in mind. Get to work running the figures for yourself today.
Probably the most unusual habit an emu has is its curiosity. Always on the search for something interesting to eat, and in need of aids to its digestion, the emu will ingest all sorts of unusual objects besides the usual pebbles. Emu stomachs have been found to contain nails and metal. Aborigines found they just had to lie in long grass and wave something unusual and colourful above the grass to attract a curious emu.
It is unusual for someone to say no to going on a vacation.The officer asked, "Did you notice anything unusualabout his behavior last night?"This kids enjoy searching for unusual shells and rocks along the shore.I wonder what kind of animal left these unusual markings in the snow?She's an avid reader who hunts for unusual books at flea markets, garage sales and used book stores.Dad prefers traditional meat and potatoes and considers anything else to be too unusual for his consumption.Tired of our ordinary activities, we scanned the papers for something unusual and exciting to do.She's always the first one to arrive, so we found it very unusual that she wasn't at her desk that morning.Ronald found Martha's behaviour shocking and unusual.That is a very unusual drawing you have there.The unusual, green fence stood out from the red fences that lined the street.It was unusual for the dog to bark out of nowhere.
How do you get 1000000 robux for free?
Give me food and I will live give me water and I will die what am I?
How do you spell water with 3 letters?
Are Danny Devito and Joe Devito related?
What is 8 divided by 2(2 plus 2)?
What countries have only three syllables in their name?
What was the name of grannys moonshine on Beverly hillbillies?
WHAT IS THE EXPECTATION ON THE SUBJECT NSTP AND TO THE INSTRUCTOR AND CLASSMATE?
What patterns are involved in multiplying algebraic expressions?
What are the advantages of using a two-way chart?
Bakit hindi kasama sa pinagpilian si andres bonifacio bilang bayani?
Why the story entitled origin of fair complexion and fair hair?
Who is the official channel for the DoD engaging the news media?