Citi "clear to close"?

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  • #331
    cgbuffalo
    Participant

    Question for any Citi closers out there – how long after you satisfied your final condition did it take to get your clear to close?

    Citi has come back a couple of times after we thought we had submitted everything with annoying little conditions, usually within 24 hours. However, this time it’s been 48 hours, haven’t heard anything. Once we get the CTC, it’s another 72 hours before we can close, correct?

    We’re hoping to hear something early this week, just looking for other’s experience with Citi.

    Thanks!

    CG

    #345
    Jack_Toepfer
    Participant

    Hi CG,

    Another Buffalo member here… I did bank app on Friday 5/4 and the updates to my web file indicate that I have “high cost disclosures” and that I have to have them signed and returned 10 days prior to closing. Is that a condition? I’m waiting for my MC to get back to me about it, but if I can act on it now, that would be great.

    What other conditions from CITI do I have to look forward to? I know they are doing the appraisal today, so that is really the only action item I’m aware of.

    Do you mind telling me how long it has been since you did Bank App?

    Thanks,
    Jack

    #361
    cgbuffalo
    Participant

    Jack,

    Are you able to check your webfile? After submitting bank app that’s where our conditions were posted. We also had to do the high cost disclosures due to the buydown (thanks for protecting us from ourselves, New York!!). Citi sends those to you via snail mail, we just signed them, sent them into our webfile via fax and also emailed them to our MC. A LOT of documents submitted to our webfile weren’t there when our MC went to look for them. Did you have any rehab? If so you’ll have get your final repair list and clear to close from them before NACA will request it from Citi.

    Quick timeline for us:
    10/29/11 – Workshop
    11/21/11 – Intake
    3/3/12 – “Qualified”
    3/27/12 – Bank app
    3/30/12 – Appraisal ordered and conditions returned from Citi. About 15 items, including a couple of LOEs, Title stuff, HAND rehab list, etc.
    4/10/12 – Appraisal received.
    4/17/12 – Citi responded with conditions regarding some title items. Please, please make sure the Title Company reflects your names the same you put on the 1033 when you filled it out during bank app – that alone has added 2 weeks to the process.
    5/1/12 – Citi responded again, with the same conditions – the title policy they received was the same wrong one they had before. More delay.
    5/7/12 – Citi CLEAR TO CLOSE!

    We close on Thursday @ the NACA office. Hit me up via PM with any questions or post them here and I’ll respond when I can – gotta run to Sportsmen’s to celebrate!

    Regards,

    CG

    #364
    Jack_Toepfer
    Participant

    Wow… thanks CG! Congrats on the CTC!

    We started in October of last year as well… qualified on 2/1 and Bank App on 5/4. Appraisal was yesterday. Hopefully it doesn’t take 10 days for that to clear. I’ve addressed everything on my conditions except for HOI (which will be today) and the addendum stating that we’re still under contract if we can’t close on the day in the contract…
    Shortly after I asked you what I was in for I got an e-mail from Tasmia with my list. I appreciate your feedback though.

    Keep Us Posted!
    Thanks,
    Jack

    #370
    lrmatthews18
    Participant

    Congrats on getting the “Clear to Close!”

    #381
    cgbuffalo
    Participant

    Hey Jack, FYI; we close in less than 36 hours – got an email from our attorney’s office today regarding the “High Cost Loan Disclosure”…The attorney thought we may have to reschedule due to the 10 day notice prior to close requirement. Thankfully I had electronic copies we’d signed last month I was able to email to the attorney, and Citi accepted those.

    Print it, fax it into your webfile, send a copy to your MC (Tammy?), and you may even want to mail it to the Citi address on the form. Once you get your commitment, you can actually go to http://www.citimortgage.com and use your loan # to register and view status from the Citi perspective – can’t say that I got more info from Citi, it just helped appease my NACA OCD.

    CG

    #402
    Jack_Toepfer
    Participant

    Awesome!

    Are you going through Giovanni Genevieve (sp) or whoever? I’ve been dealing with Todd… though I haven’t really had to deal with him at all. lol.

    Wanda called me asking about the HCD, and I stated that they were already sent on the 7th… she reviewed and approved. All set there. Yes, Tammy is my MC now… and it was Dwayne and before that it was John. lol.

    Just sent in my HOI, my appraisal is in their hands (though I can’t view it) … and I don’t know what I’m waiting for. I know I have an outstanding addendum from my realtor regarding the contract and if we don’t close on the date in the contract, but we should be closed before 5/22!!! I HOPE!

    CG – Where did you end up buying, if you don’t mind me asking?

    • This reply was modified 8 years, 5 months ago by Jack_Toepfer.
    #410
    cgbuffalo
    Participant

    Wow i went through the same MC carousel, Wanda is actually my MC now. Any rehab or HAND dealings at all? I know they have to give you the clear to close before they request it from Citi. If you sign up at Citi’s website using your loan#, you can see the appraised value long before you get a copy in your hands.

    We bought a house in Snyder – how about you?

    Chris

    #413
    Jack_Toepfer
    Participant

    lol, we’re in exactly the same boat.

    My sellers did all repairs so I don’t have a rehab. They are still harrassing me about the pool inspection, which has been documented twice.
    Tasmia sent me my appraisal… and I just made it, by $40. Unreal. After being in the buyers market for over a year now, I think I know what a house is worth, unfortunately for the appraiser there weren’t any comps in the area with the stuff I got. Oh well. works for me.

    We were looking in Snyder because I work in Amherst, but with my wife working in Kenmore, and in-law daycare in Cheektowaga we ended up in Depew/Cheektowaga. We’re 4 min from her parents and 15 minutes from work… can’t really go wrong.

    Take Care,
    Jack

    #542
    nupe1911
    Participant

    On the Citi website, is clear to close the same as the status saying APROVED? that’s what my status says on there right now and I’m trying to figure out will I be able to close next week.

    #572
    TTrumble
    Member

    Hello nupe1911,

    Looks like you’re not quite there yet. It appears there needs to be a minor correction on a document. Nothing that will require your direct involvement though.

    Closing next week wouldn’t surprise me at all. Looks like it will depend on how qucikly Citi turns the documents around. I’m optomistic though!

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    You are very close to closing though!

    #577
    nupe1911
    Participant

    yea I heard the title company made some errors or something… I have my fingers crossed and hoping to meet the closing date of next Friday because a nice 4 day weekend to prep and move in the house would be great.

    #581
    Jack_Toepfer
    Participant

    I’m hoping I get the CTC before Tuesday… the owners will be on vacation and the house left vacant for a week if we don’t…

    #588
    nupe1911
    Participant

    Yea me to.. the HANDS department just cleared my file today so im just waiting..

    #646
    nupe1911
    Participant

    Hey Jack… any good news?

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