Lender: Underwriting clear …. What's Next

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  • #37280
    gezana@17
    Member

    Hello Everyone,

    Today my file says Underwriting clear, does anyone know how long it will take to get the clear to close? the seller is pressuring since he gave me 2nd extension and the time is approaching. Am waiting patiently but at the same time am worried as it will cost me if i didn’t meet the sellers extension deadline. Anyone with an idea how long it take them to close after the naca file states : Lender underwriting clear ???

    Thank you,

    #37288
    TTrumble
    Member

    Hello gezana@17,

    I hate to answer a question with a question, but has your Closing Disclosures Form been generated yet? This usually takes place at or close to the time the file clears bank underwriting. The CD is a turning point in the process that indicates you are very close to closing. The law requires that there be at least a three day period between the creation of the CD and the closing.

    So keep you eyes open for the CD. It will give you a very good indication of just how close you are to getting the keys.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    • This reply was modified 3 years, 5 months ago by TTrumble.
    #37290
    gezana@17
    Member

    Hello Tim,

    I don’t know if the closing disclosure are generated, I didn’t get any information on that? who sends me that so I can follow-up or check on the status?

    #37292
    TTrumble
    Member

    Hello gezana@17,

    If you don’t know, it probably means the CD hasn’t been generated yet. You will receive it either by overnight delivery or by email. You’ll need to check with your counselor for more details.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    #37293
    gezana@17
    Member

    Hi Tim,

    I see on my Naca file that Lender: Final do you know what that means? with regard to the CD i will check with my counselor.

    Thank you,

    #37297
    TTrumble
    Member

    Hello gezana@17,

    I can’t say for sure. The people at the bank sometimes have a bad habit of using non-standard abbreviations and shorthand. So I can only guess that it means the “Final” Closing Disclosure has been generated (there is such a thing), which is of course great news!

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    #37298
    gezana@17
    Member

    Thanks Tim, well I hope so… with my second closing date approaching surely .. clear to close is what I really want to get!

    Tim, thanks for the quick response and assistance it means a lot and it eases the mind

    #37307
    gezana@17
    Member

    Am cleared to Close!!!! finally … anyone how long it takes to close after cleared to close?

    #37308
    carlito78
    Member

    Congrats gezana@17! Did your web file update to that status or did you receive your closing disclosure?

    From everything I have seen here, by law soonest you could close is 3 business days from getting closing disclosure document.

    #37315
    TTrumble
    Member

    Hello gezana@17,

    You can close as soon as the closing documents are completed and a closing date and time are set. Normally it’s a couple of days. You will be advised on the exact date and time.

    Congratulations!!!!!

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    #37316
    gezana@17
    Member

    Thank you carlito78 & Tim,

    My MC send me an email that am clear to close and my web file states Lender: working preclose items

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