Am I done with conditions?

[Pearl609]

My scheduled closing date was 11/30, which I never anticipated on happening timely anyway so I’m not upset… I am just hoping I can close this upcoming week.

My status changed from C&I Approved to Processing and the latest comment states:

Lender (11/28/18) – Please advise through normal channels when to order the Final inspection to subject property evidencing it is 100% complete. –
NACA – The home is 100% complete

The builder sent the certificate of occupancy on 11/29 and my CC confirmed the final inspection was ordered.

If all goes well with the final inspection and appraisal… is it possible to still get conditions from the lender that can delay closing?

[southflorida]

It’s hard to have an answer to your question. Sometimes it seems like the lender picks up the file, find something they need, they request it and put the file down and don’t touch it until you give them what they requested and then they ask for something that they could have requested before. I know it’s frustrating and hopefully you don’t get more conditions

[TTrumble]

Hello Pearl609,

It’s possible, but very unlikely. There’s still things like getting the final tax transcripts, the Verbal VOE and so on, but it’s rare for something to pop up at this point since most of it is just confirming things that have already been checked previously. It’s typically a little smoother sailing too with new construction since everything from property condition to title is pretty much a “gimme”.

Tim Trumble
Online Operations, NACA
ttrumble@naca.com

• This reply was modified 3 years, 5 months ago by TTrumble.

[Pearl609]

@TTRUMBLE thank you so much for the response! Verbal VOE is verification of employment correct? Do they reach out to my employer again for that? The contact information has been updated for my payroll office, so I want to ensure they get the VOE quickly and easily.

Also, I did my HOI back in August (policy start date October 26, 2018) when I did my bank app, do I need to update that? I have heard the HOI policy start date is supposed to be the same day as closing, but if I don’t have a closing date yet, how can I update that?

• This reply was modified 3 years, 5 months ago by Pearl609.

[southflorida]

Yes, VOE is verification of employment and they will call your employer for that. Regarding the insurance, if the lender does not require anything else, you just have to let the insurance company know as soon as you close so they can update your policy starting the day you closed

[Pearl609]

@southflorida, thanks so much! I will send my CC the updated payroll contact information and I will wait on the lender in regards to the HOI policy.

[Pearl609]

So my CC confirmed yesterday that there are no pending conditions, he has all my November statements, my December paystubs, and the final inspection/appraisal has been completed and I have a copy of the report.

The Closing Disclosure was sent from the title company to Citibank on Monday… shouldn’t I be getting a CD and CTC this week?

I know Tim is going to say I have the closing crazies, but YES I DO because my lease is up in 12 days so I HAVE TO MOVE OUT.

[TTrumble]

Hello Pearl609,

Sorry to disagree with the diagnosis, but in no way do I think this is a case of the Close to Closing Crazies.

There’s no air of panic in your post, you are asking rational questions and you aren’t making any of the wild and sometimes accusatory statements that are typical of this self-inflicted malady. 😉

Remember that the important thing is when the bank ISSUES the CD, not when you receive it, because the three-day countdown starts when the CD is generated.

Based on what you have written, I have no doubt you’ll close next week.

Tim Trumble
Online Operations, NACA
ttrumble@naca.com

[Pearl609]

@TTrumble, LOL I’m so glad my self-diagnosis was wrong (wheew)! But you are right, I am not quite in a panic just yet.

My CC has been very responsive to me and the title company has been great also so I have faith in the process!

On yesterday, 12/6, Citibank confirmed a DOR was received for 12/14, no closer assigned yet. So hopefully I will close on Friday, 12-14 and I’ll have the weekend to move out!!

Thanks again Tim 🙂

[Pearl609]

@TTrumble, okay I am kinda freaking out…

Like I stated in m last post, on Thursday Citibank confirmed a DOR was received for 12/14.

I would need to get a closing disclosure by tomorrow in order to close on 12/14 and so far… crickets.

My lease is up on Monday, 12/17 and if I do not close on Friday, I will be homeless come Monday. I just sent an email asking if there is any update so I will patiently wait, but I am getting nervous now.

[Pearl609]

So I’ve been checking my webfile all morning and I just checked it and it says CTC-FINAL!!!!!!

Now I’m just waiting for my Closing Disclosure with hope that I don’t have any surprises on the amount I need to bring to closing!

[southflorida]

congratulations! I got the CTC the afternoon before the day I closed, so you should be good.

[Pearl105]

Where do you check the status to see CTC or etc? I only see Status: Mortgage Process in the naca main page.

[homeowner2018]

Congrats on CTC!! @pearl609 my CC informed me that the lender said DOR- 12/14 for my file as well but we are in the same boat as far as getting a CD if I don’t get it today I doubt I will close by Friday 12/14.

[homeowner2018]

Same here I am only able to see Mortgage process and when I click on lender conditions I see “N/A” as the status. You should reach out to your CC for an update 🙂

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