January 15, 2020 at 10:58 am #64671
Yes. It is fairly common. Your title company and/or attorney need to provide to this I believe. It is not for you though that is where the holdup would be. Not sure where they get it. Maybe the county? If so you can understand why it can take a while.January 15, 2020 at 11:04 am #64672
Hmmm. So, we get this today, should the next step be CTC? I hope this isn’t another “you provide this condition and we will get back to you in a week” type of thing :/. Our 3rd extension expires next Friday so I hope we can close before then!January 15, 2020 at 11:18 am #64673
Well the CTC is essentially the last thing you will get. Have you received a closing disclosure yet? If not then that’s what to expect. The CD is the point at which the loan is approved but not finalized or scheduled. You get the CTC once the supervisors sign off on the approval schedule the closing and appropriate the funds.
And conditions have no end point. You can get conditions up until the day you close if things pop up. I would not count on it though.January 15, 2020 at 11:22 am #64674
I got a packet (it was not the loan estimate, as I had received the loan estimate earlier) that said “initial disclosure”. It did not say initial closing disclosure, and did not have a closing date on it. It included the amortization schedule. Thanks for the insight Nelson 🙂January 15, 2020 at 1:37 pm #64679Our1sthomeMember
Well… our status just changed to Approved-Clear to close. I thought that meant we were going to close but the office said we need it to say Final clear to close. ugh. 😭January 15, 2020 at 1:40 pm #64680
Still, one step closer, congrats!!!!January 15, 2020 at 2:00 pm #64681
Yep. Final Clear to Close often comes same day as clear to close. You should be received a Final CTC email that has the exact amount of money you will need to bring (if any). You title company/attorney will be copied on the email.January 15, 2020 at 3:01 pm #64684ksmcsParticipant
Anyone deal with “Underwriting-2nd Opportunity”? We were in “Underwriting CTC” since Dec23rd and we keep getting these hidden conditions (items that were previously provided btw) from US calling the processing department and not hearing it from our underwriter. Sounds like some of you are experiencing the December delay we are encountering. We are, however, 60-days into escrow (we started escrow Nov 19) with nothing from BofA. We had movement on our profile this past friday that took us back to “Lender:Application,” moments later to “Underwriting-2nd Opportunity” and as of today no word on a closing date or insight from NACA on what is happening to our account. Is anyone experiencing a similar situation?
January 15, 2020 at 3:11 pm #64686
- This reply was modified 2 months, 2 weeks ago by ksmcs.
I have never seen this status. The status is a manual drop down selection so there is a possibility this status is an error. However knowing nothing of your situation I would be inclined to guess that you were denied (without being told?) at one point in the last 3 weeks and BOA is re-reviewing your file. The denial and re-review (if that is what happened – again I’m just taking a guess here) could be due to a number of reasons from an error on your file to a mistake by the underwriter to situations out of everybody’s control including bank of america waiting on the appraisal company or the title company or even the county (we all know how hard government works!) to provide vital information. Whatever the case may be please update us on what you find out.January 16, 2020 at 1:07 pm #64747
Any updates with you all? My initial closing disclosure was just uploaded, it lists 01/24, next friday, as the close date. File still says approved with conditions though.January 16, 2020 at 6:45 pm #64757
Status updated to “Approved-clear to close”, initial disclosure was also uploaded today. Closing date listed on it is 01/24, so fingers crossed all goes as planned and we can close thenJanuary 16, 2020 at 6:50 pm #64758tlthom76Participant
Another minor condition popped up this morning. They cannot seem to upload my rental ledger correctly, it keeps cutting off the right side of the paper. It’s so frustrating. Hopefully they can get it right and this condition can be cleared.
T.January 16, 2020 at 6:57 pm #64759Our1sthomeMember
We got the CTC. Scheduled tomorrow @ 9amJanuary 16, 2020 at 7:16 pm #64763tlthom76Participant
Congratulations!!! 🙂January 16, 2020 at 7:39 pm #64765
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