credit Access – Conditions

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  • #44734
    Pearl609
    Member

    So my file was submitted for Credit Access yesterday and today I got an email with three conditions:

    One condition stated the monthly payment amount for my American Express credit card had to be entered since I have not paid it in full… I once again uploaded my most recent statement that indicates what the monthly payment is

    Second condition needed information on a student loan (I am a co-signer) so I uploaded the most recent statement

    Third condition stated this: TRANSMITTAL SUMMARY MUST HAVE ALL THE CONTACT INFO FOR BOTH AGENTS… ALL INFORMATION

    I have no idea what this means… can anyone help me out here?

    #44735
    Pearl609
    Member

    OH…. I responded to the email and cc my MC and my NACA email.

    I attached all the documents I uploaded today and asked if I needed to contact my builder in regards to the transmittal summary.

    ALSO… I do not have a real estate agent, so I dont know if that’s what they are looking for??

    #44738
    southflorida
    Member

    I think that in the third condition they are referring to the NACA transaction summary which you probably filled out since you don’t have an agent or your MC filled it out and you signed. Basically, you just have to let your closing coordinator know that there are not buyer or seller agents (realtor) and that condition should be taken care of, I got the same condition when I was in credit access and it was a quick fix.

    #44739
    southflorida
    Member

    Actually I think I got that condition in the bank app stage, since you are in credit access, just let your MC know and he/she should be able to fix it with the NACA underwriter

    #44740
    Pearl609
    Member

    Hey @southflorida,

    Thank you so much, that makes me feel less nervous!

    The email stated the NACA policy is to get the bank app submirted within 10 days of the contract… since the title company took a week to respond, the 10 days already surpassed.

    I just hope I can get credit access approved and sign my bank app today

    #44787
    Pearl609
    Member

    @southflorida you were EXACTLY right! That transmittal history condition, they were looking for my real estate agent information and the builder’s sales agent license number.

    Since I do not have a realtor and the sales agent is not real estate agent, my MC addressed it by notating the information in the file. Thanks again for the heads up!!

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