My initial contract close date was 10/23. We already knew that NACA was a bit slower, so we may have to extend that. I received status update on 10/13 stating that my file was update to “mortgage process” and at the top it says Lender Status- Underwriting Initial Review. Its now basically 10/22 and the status has stayed the same. no conditions, no nothing. The listing agent is badgering us for a Commitment Letter but i cant even give him that. He’s starting to get sketched out! What can I do? Who can i reach out to to handle this??? My MC emailed me today and said that my staus has been updated but I see the same thing as before. I need to tell this listing agent SOMETHING!!! HELLLLLLLLP
Take the webfile status with a grain of salt. Ask your MC what the status was updated to. Ask if your file can be escalated if possible. Call the mortgage processing department listed on the naca website contact list. They can often see things that you can’t. What your listing agent is doing is typical. It’s a negotiation tactic that often backfires.
If it makes you feel any better my lender status had outstanding conditions on Friday. It was a title issue and my MC handled it. On Monday lender status went to Initial underwriting. Tuesday it was approved with outstanding conditions I couldn’t see them listed though. Called my MC and he said it wasn’t anything for me. Wednesday still approved with outstanding conditions but I received my commitment letter. The commitment letter stated the outstanding conditions and all but one list the bank as the responsible party and one had NACA listed as the responsible party and it was the title issue I mentioned earlier. I hope it all work out for you. Good luck.
I say that to let you know that if your timeline is like mine you could be approved today and even if you have outstanding conditions they may not be for you they could be for the lender. Once approved it will say you can receive your commitment letter. Once I saw that status I received my commitment letter in my web file the next day. Not sure if you can get your MC on the phone but if so definitely ask what your status is and if you’re approved. You need that loan approval commitment letter ASAP