Been in the NACA loop for about a year. We are finally (hopefully) in the last grueling steps of the program.
We have had our close date change twice with Citibank. We are getting to the point where are 2.5% rate lock is about to expire Saturday. If that happens, we will have to start the loan process over.
We have received a closing disclosure already, but when we contact our MC she says it’s still in underwriting?! Who are the underwriters? Are they NACA people? Or Citibank people?
I promise if this rate expires, I cannot go through this again. I’m also worried the sellers will try to pull the offer off the table because we “seem” to be lagging.
If the Closing Disclosures have been issued, you’re going to be okay. The law requires a three business day waiting period between the issuance of the CD and the Clear to Close. So until then, the file is indeed still in the hands of the CitiMortgage underwriters.