4-days before closing-Not clear documents yet

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  • #66970
    jdrodr2
    Participant

    I supposed to close today, but I haven’t spoken with my counselor. I can see that on my NACA file the status is Lender Status: Approved-Clear to Close. However, we have not received or signed the last document. Clear to close documents. It has been very difficult to communicate with my counselor. This situation is very frustrating and sad! Any help or guidance would appreciate it.

    • This topic was modified 5 months, 2 weeks ago by jdrodr2.
    #66972
    Nelsont
    Member

    If I can remember correctly I didn’t sign anything between bank app and the closing table. I have also purchased 2 houses prior to naca (3 total including naca) and have never to my recollection needed to sign anything regarding all clears or status updates…the clear to close is nothing more than a 1 sentence email if you even get that…

    Is there something you know for a fact you were supposed to sign as part of a condition or a contract addendum? If not then everything you get until you actually close is just communication.

    • This reply was modified 5 months, 2 weeks ago by Nelsont.
    • This reply was modified 5 months, 2 weeks ago by Nelsont.
    #66978
    jdrodr2
    Participant

    Thank you Nelsont! I just spoke with someone from NACA they said my file is in the closing department. You know how long takes to send that email? Thank you,

    #66979
    richard899
    Participant

    jdrodr2 jdrodr2 don’t feel frustrated. my closing date supposed to be last Mar31; the builder gave me an extension 15 days more until tomorrow. my status is still as underwitting initial review. my MC sent my application to the bank last Mar05. all the conditions that the underwitter has requested are the same documents that are already loaded in the file. I don’t understand that either. I think that about 30 times the underwitter has posted conditions at different times but strangely underwitter did not posted them all at once. I mean 10 conditions in 1 week then 7 the next week then 4 more and so on and many of them have been repeated over and over again. So, this is really frustrating because my file has 40 days on underwitter hands and they did the home appraisal one month ago. Also obtain information from my MC has been very difficult by email and even if I call to the office. The only think I know is we are waiting

    #66980
    Nelsont
    Member

    Literally right before you close. Regardless of when your contract says you expect to close and even regardless of the closing disclosure close date since everything is actually tentative at best until you are handed the keys. Even days and weeks beyond expectation can pass with zero communication and then one night at 8pm you might be told you are closing tomorrow morning. They don’t call it the closing crazies for nothing! Just stick with it and continue to upload. You got this.

    #66982
    richard899
    Participant

    Nelsont Thanks for being so quick to respond. Often a few guiding words serve to understand better than endless silence. When you say continue upload did you meant keep uploading pay stubs and statements or keep fixing conditions? after I get my credit access approval 40 data ago my MC told me just you dont need upload anything else. I will let you know when I need something from you.

    #66984
    Alikay
    Member

    Fortunately or unfortunately depending on how you look at it, closing can be very last minute. I didn’t know I was closing at all until 2 hours before I closed and my final closing disclosure didn’t come until 40 minutes before close. I didn’t sign any additional documents after my bank app documents.

    • This reply was modified 5 months, 2 weeks ago by Alikay.
    #66989
    Nelsont
    Member

    Upload everything until you close…this could be a reason you keep getting conditions.

    #66993
    richard899
    Participant

    I will do. Thanks so much Nelsont!

    #67048
    richard899
    Participant

    Hi, is there more participant lenders other than bofa? Apparently I haven’t had good luck with the bofa underwitter and after 45days days on underwitting process, for him is not enough my EAD and SSN to give the clear to close. I have other members from my family and some friends that bought house thru NACA (bofa) with the same Documentation I have and they didnt have any problems (an unexpired EAD and a SSN). the question is what do I do? can I request change of bofa underwritter? can I request Naca submit a new application an hopefully it will be take by a new underwritter?

    #67052
    Nelsont
    Member

    Naca used to work with BOA and citi. In 2018 citi unexpextedly exitied the mortgage lending industry entirely. This is part of what causes the delays at BOA because dumped all of their naca clients effectively doubling BOA’s workload. So if your friends and family members did not the same delays there is a possibility they went through the process before citi left.

    I don’t think you can change underwriters.

    If you want to start over you will completely start over. Void your contract, lose your EMD and start a new offer, new contract and go through credit access again, if you have the money to spare.

    Also don’t just think it’s the underwriter. Call the mortgage processing department to see if they have insight. If you keep getting conditions there’s a good reason and it can be as simple as a document needing a new date even though it is exactly what they ask for.

    #67053
    TTrumble
    Member

    Hello richard899,

    All NACA loans are through Bank of America. Regarding your question about what to do, the honest answer is to simply be patient, especially at this point. Your post reads as if you seem to think it’s something personal with the BOA underwriter and you absolutely cannot think that way.

    Likewise, you cannot compare anyone else’s file to your own. Everyone’s file is different. it’s not always just a matter of having the same documents as someone else. Your personal situation may be different in a way that requires something more or different from what the other person needed.

    What you do is comply with the conditions/requests from the underwriter without exception. Email your counselor with questions or for help if you think something is wrong. The worst thing you can do is start thinking in terms of a different bank or underwriter. That’s not going to happen anyway.

    This close to the finish line, the thing to do is just give your full cooperation, no matter how trivial it may seem. Hang in there and let the process work. You’ll get those keys very soon!

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    #67054
    richard899
    Participant

    Thanks Nelsont, well, to be more specific. Two of my Friends started the process on 2019 after Citi exitied. One of them closed last december when I started my process. About my documents I renewed my EAD recently and after that I started my process with NACA and the next renewal will be again at the end of 2021. that’s why I ask what recommendation can I follow now?

    #67055
    richard899
    Participant

    Thanks @Ttrumble and @Nelsont, I’ll keep my hopes on these words!

    #67078
    Alikay
    Member

    Hi @richard899 Did you work with a lawyer to deal with your immigration process? Ask them to write a letter explaining the USCIS guidelines relating to EAD. If not, ask the attorney working on your case if they have any suggestions. BOA underwriters likely only have limited knowledge of immigration procedures. I had similar issues with them understanding the validity of my own documents. Good luck.

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