“Need” final ctc

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  • #50439
    Perkins5
    Member

    Hello,

    I received an email Friday morning from naca closing stating that based on the lender time table I’m set to close on 08/12. It did say it is subject to change based on unforeseen circumstances.

    The first issue is that it stated all conditions addressed. I emailed/called my CC about it and let her know I’m still waiting one of the conditions – HOA policy. She responded to naca closing letting them know just that.

    Two questions:
    why was that email sent if all conditions weren’t addressed yet? The seller agent was on the email so I don’t want them thinking we are closing early if we really aren’t on track. (Estimated close On contract 08/16)

    And I didn’t get a response from my CC but I think I’m confused with the timeline. I thought we get conditions, then credit & income approval, then CTC, and then final ctc. Is that right?

    #50443
    lgunter84
    Member

    @perkins5 Hi, C&I approval is supposed to come before any of those steps. I believe you submit the bank app, get C&I approved, address all conditions, then the closing attorney or coordinator sends that email with a tentative closing date. Then CTC and CTC final.

    I received my notification to close once all conditions were addressed but then the bank added another condition and ultimately suspended my file for DTI. They claim I’m over the ratio but we have run the numbers several times and I’m not. My closing coordinator sent the seller notice of a new tentative close date and said all conditions were addressed when I know for a fact that there is one still pending and currently the bank is still saying I’m over the DTI ratio. So I’m worried about the same thing, this is my 2 extension and the seller only allowed me to extend because my CC gave her that date when technically my file is still in limbo.

    The dates are always tentative until you get that CTC and final CTC so maybe they don’t see any harm in saying ACA-all conditions addressed when in fact they aren’t. C&I approval is the important part of securing your loan approval so I’d think that you were C&I approved and maybe you didn’t know. Good luck to you.

    #50446
    Nelsont
    Member

    Usually you are not told you pass, you are just given the next step. If you got a closing disclosure then the underwriters either received the hoa policy without your knowledge or recollection or they deemed it unnecessary. As far as your close date you are extremely lucky to be tentatively scheduled to close early. This could change with your ctcs but it’s an exciting time!

    #50471
    Perkins5
    Member

    Ok, thank ya’ll! I addressed the hoa policy this morning which was the last condition so I’m hoping they don’t come back with more conditions.

    #50478
    alesiaconner
    Member

    @TTrumble and anyone else who can help. Advise please! I am at the end, I think…. I have submitted all lender conditions. Multiple times! Although I had no new conditions I went though my webfile today and resubmitted more items just in case… My mortgage application was submitted 2 weeks ago but came back with some lender conditions, which I had already submitted! My contract is up at the end of this week. Tried calling my cc to imply about the next steps. After days off no response I started calling around. Found out last week that my cc is no longer with NACA! Was told to contact the supervisor. After leaving multiple multiple voicemail and emails I still have not had a response from her. I emailed member services as well. No response from them either. I’ve been checking my webfile daily. on the 2nd I noticed I had a commitment letter in my webfile. I had no clue what the commitment letter was. No one ever explained the steps after submitting my application. However I signed and submitted that this morning. About an hour ago I received an email to check lender conditions. Checked my webfile, nothing there???? My status has been “mortgage process” for the last month. Since I do not have a closing coordinator to explain anything to me… Can someone advise me what’s next. How long before I get a closing disclosure and clear to close?

    #50481
    Perkins5
    Member

    Hi @alesiaconner, I didn’t know member services had an email but usually someone answers when you call member services. Are you able to go to the office in person? I’m sorry you aren’t getting a response.

    #50484
    Nelsont
    Member

    Your status requires a manual update from your MC. I think once you get to a certain point updating your status becomes low priority.

    For what it’s worth I closed 3 weeks ago and my status hasn’t changed yet.

    #50488
    alesiaconner
    Member

    Thanks to both of you guys. I’ll try calling member services. And hopefully the ball is rolling behind the scenes. This is stressful!

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