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That’s a hard place to be in and I can understand that frustration.
Why did your realtor allow for less then 45 days to close? Even before COVID things were taking at least 45-60 days to go through the NACA process and close.
I over paid and got a refund. Talk to your MC.
I don’t think you need to worry about the time frame of CD vs CTC final. My CD was uploaded after I got the CTC-final notification.
- This reply was modified 8 months ago by azallin.
P&S shows the bank you are serious about a home and is the start of the negotiation between you and the seller.
The bank orders the appraisal after you have a signed contract. If the appraisal comes back lower you’ll have to renegotiate with seller or come up with the extra 10k. The bank is not going to lend you more than the home is worth.
Before ATD it seemed to be taking 4-7 days for UW response with my file. I
5/28, same date as my initial
All my student loans are with fedloanservicing. I called the customer service line dozens of times. I recently figured out that you need to ask for the escalation department, don’t waste time trying to get the general help line people to understand what you need. Tell the escalation person that you need a custom mortgage letter that breaks down the monthly payment for each individual loan as if all loans were in repayment based on the income based repayment plan. Once I figured out who to talk to and what to ask for I got the letter within a week. Once I got this exact breakdown letter the condition cleared. It kept coming back because the letter I had before had a total monthly max payment for my account but BOA wanted the breakdown per loan.
Approved Clear to Close- 5/19 2:13pm!
I had a similar request when I was going through qualification. My MC had me do one LOE about every address listed on my credit report and the approximate times I lived there and why I moved.May 18, 2020 at 6:01 pm in reply to: Virtual ATD Event putting everyone else’s file on hold? #68178
I went with an outside realtor with no NACA experience. I interviewed four realtors, including the in-house. The NACA in-house seemed a bit overwhelmed with the number of members they were assisting. I couldn’t be happier with my realtor. It was similar to @Nelsont where he was well versed and became NACA registered within 24 hours of meeting with me. Further, I liked the fact that he was a no B.S. kind of guy and didn’t sugar coat things.May 15, 2020 at 7:50 pm in reply to: Virtual ATD Event putting everyone else’s file on hold? #68061
My MC emailed me back after the ATD day ended and my file was sent back to BOA. I had emailed him and the mortgage department several times and emailed the office administrator/front desk person. At the end of the day you have to continue being a polite pest. The VVoE people called me this morning to get the number for my HR so I’m hoping that means I’m on track to close on time.
I thought they have to complete that within a week of closing but maybe I am wrong with the timeframe?
Even with all this extra work we do and constant emails, calls, etc. NACA is still worth going through. I tried to get my brother to go through the program but he didn’t want to go through the work and organization that we do through NACA. He just went under contract for a home and his mortgage is going to be $1900 a month. His home is $25k less then mine. I will be looking at $1270 a month. His taxes are $250 more per month for his area. Considering some rough math, with NACA his payment would have been around $400 less per month at the bare minimum considering the down payment and closing costs he is putting up.
@kjenkins79 When I was trying to print off my letter it wouldn’t let me and I had to go through my MC. Maybe this is an IT issue and calling them may be worth a shot?
@surpriseninja I’m not sure what your local NACA office is like but at mine the office administrator/Front desk person has been able to get my MC to respond to me within 48 hours. The only time I’ve gotten through to mortgage department is by calling immediately at 8(or 830) EST, which is 5/530 my time. Same thing with getting in touch with member services without spending 3 hours in the que.May 14, 2020 at 12:10 pm in reply to: Virtual ATD Event putting everyone else’s file on hold? #67983
Wont let me edit for some reason…
Just wanted to add that with everything having to be telephonic or virtual right now, using responses such as that they will leave a note for our MC about our concern is better then saying to sign up for the ATD event in order to get help.