3 Months in Underwriting??

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  • #2003
    PackedAndReady
    Participant

    Again our process stalls, after almost 3 months in NACA Underwriting. Still we wait for the bank to tell us whether we can be approved. We were told from day 1 that our self employed status created an extreme amount of paperwork that would require full documentation and detailed submissions on our part to get through the process. Document and submit paperwork we did. Our latest counselor suddenly has stopped communicating. Twenty months after our original application (and working with our 4th mortgage counselor) we remain in the dark about whether will ever be anything other than STATUS: NOT QUALIFIED.

    #2031
    TTrumble
    Member

    Hello PackedandReady,

    Your file indicates that your MC is contacting our National Diredtor of Underwriting so the file can move forward. I suspect you’ll see some movement this week.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    #2033
    pgriffin9166
    Participant

    Hi Tim,

    Could you plrease check the status of my file?

    Thanks
    pgriffin9166

    #2037
    PackedAndReady
    Participant

    @ TTrumble…. Thanks, Tim. This has been quite the struggle thus far. We will soldier on and trust that our story will soon have a happy ending.

    #2043
    TTrumble
    Member

    Hello pgriffin9166,

    Nothing new since last week. Please continue to reach out to your counselor.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    #2094
    PackedAndReady
    Participant

    We have now been passed to the Director for the Self-Employed in our NACA underwriting process. There is little written about this part of the process on the web site. If anyone has knowledge of what happens at this point, please share. These questions remain:
    1. Will we now have yet another mortgage counselor?
    2. Is this a normal part of the process for the self-employed?
    3. Will there be additional items required from us in order to be NACA qualified?
    4. How long does the process take once it gets to the Director’s desk?

    Thanks!
    PackedAndReady

    #2101
    TTrumble
    Member

    Hello PackedAndReady,

    Where did you get the information that you “have now been passed to the Director for the Self-Employed”? You file makes no mention of any such action.

    I have contacted your MC and the Office manager for clairification.

    Thanks!

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    #2103
    PackedAndReady
    Participant

    @TTrumble. The info that I quoted above was taken directly from an email sent by my MC last Friday. Please update me if that information is not accurate.

    #2106
    PackedAndReady
    Participant

    Just this afternoon we received an email response from a self-empoyment coordinator who will be checking with underwriting to see what the holdup on our application process has been. He stated that he will try to get an answer back to us sometime this week. Hopefully we will be coming “un-stuck” in our mortgage process and moving forward once again.

    #2108
    lrmatthews18
    Participant

    Good Luck!! Hang in there. You have come too far to give up now.

    #2293
    PackedAndReady
    Participant

    Another week has passed and our application languishes on the desk of the NACA coordinator for the self -employed. Promised an answer that never comes. We are officially at 3 months in the NACA underwriting process as of tomorrow. I see many Forum participants who are struggling through to the closing process and wonder if we will ever even get the opportunity to be at that point. That is a struggle for which we have long waited, and strangely enough, would welcome. Twenty one months in the NACA application process and we, like many others, are lost among the avalanche of applicants who all began with the same dream.

    #2682
    Amayajessica
    Participant

    Hi PackedAndReady,

    Any news on your application?

    #2716
    PackedAndReady
    Participant

    Hi Amayajessica,
    No word on the application… still on the NACA underwriting hamster wheel for almost 4 months now. Apparently, the app has to cross the desks of several people before we can be considered capable of handling a mortgage. Our self-employed status makes us square pegs trying to fit into round holes. Believe me, if and when we ever get the “go ahead” the entire known world will hear me shout.
    PackedAndReady

    #2735
    Amayajessica
    Participant

    Thanks for the update. I’ve been in underwriting for over a month. I’m hoping they approve me soon. I didn’t expect it to take so long. Good luck!!

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