Commitment letter received

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  • #63540
    firmeh89
    Member

    After getting an update to my web file yesterday stating Lender status Approved with outstanding conditions and commitment letter available in web file, today finally the commitment letter showed up in my web file, also I had 1 condition in my web file requesting an updated title and I was able to get that from my attorney and uploaded that, today that condition no longer shows on the web file. After reviewing the commitment letter they have conditions on that letter but all of them are conditions for BOfA and 1 for NACA which is requesting a 4506-T. so anyone with experience in this part of the process could tell me what to expect next and do I sign this?

    #63541
    Nelsont
    Member

    You don’t need to sign it. Your MC should be able to provide you with the 4506t form which you do need to sign.

    #63542
    firmeh89
    Member

    Yea when I went to credit access I did the form with the MC he made sure it was corrected with both my wife and I on it and had us both sign it. I have it saved in my files.

    #63546
    tricey718
    Member

    I had several conditions on my commitment letter that was either for NACA, BOA or previously addressed. I would make sure the conditions on tour webfile are addressed. You can confirm with your MC and mortgage Processing

    #63559
    Steel46
    Participant

    @nelsont have you or anyone seen status going from “Pre-decision” to “Suspended” back to “Pre-desicion”?

    #63568
    Nelsont
    Member

    Personally I have not but I have seen on here it’s nothing to be concerned of. You can view suspended as “paused”. It just means they are working on your file and get to a stopping point where they need more information. If anything is required of you then you will be notified. Don’t panic.

    #63578
    Peapod0609
    Member

    @Steel46 actually I think my status went something like that my first week. I don’t think it is anything to be concerned about. Sounds like the bank is in the initial stages of reviewing your file.

    Call the mortgage department if you haven’t already, their phone number should be in your webfile. Them, as well as your MC, should be your primary contacts for information at this stage.

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