I've been approved but still held up by UW and bad communication

Home Forums Purchase Program I've been approved but still held up by UW and bad communication

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  • #7654
    NACAFIED
    Participant

    I don’t understand! I’ve signed the P&S and completed the home inspection now the underwriters are doing the ” one doc at a time” thing all over again! It Dosent make sense, my entire purchase is held up for meaningless common sense things like; I received a 3% raise so complete employer verification all over again, your landlords form shows a different start date in 2003 than you. On top of those items my Naca approved real estate agent is not up-to-date with the new Naca policies, and Naca just switched from BOA to Citi and some of the verbiage was incorrect in refference to home appraisal.
    WHO CAN I CALL ? HOW DO I GET ACTION? HOW LONG DO I HAVE TO KEEP PUTTING UP WITH “JUST ONE MORE DOC” ? HELP!

    #7662
    TTrumble
    Member

    Hello NACAFIED,

    if they were “meaningless” and “common sense”, they wouldn’t be asing for the information. If that 3% raise is permanent and not a temporary or one-time difference, then yes, it’s necessary to properly document it. If there’s a difference between the start date you claim and the one the landlord claims, why? There should be no difference. Is the landlord hiding something? If any of the information is deliberately inaccurate, that’s mortgage fraud, which is a federal crime. If your real estate agent isn’t up to date on policies and procedures, why hasn’t he or she attended the monthly realtor workshop the local office conducts?

    In short, none of these items are meaningless or trivial in any way. Remember that the purpose of the NACA program is to show beyond a doubt that you are ready for home ownership and sufficiently responsible to get a mortgage with the outstanding terms of the NACA loan. To do so, no detail will be ignored.

    The person to call is your MC to continue getting these items cleared up. As you will see throughout this Forum, patience and persistence are absolute necessities to get through the NACA program. It’s not fast and easy, nor is it designed to be. You’re about to become the owner of a quailty home at a payment you can genuinely afford, with the best mortgage terms in the country. Anything that good is worth doing right no matter what small obstacles pop up.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    #7669
    NACAFIED
    Participant

    Thanks Tim, love this forum because I can see how the system works. Your doung a great job keeping heads where they need to be. Ill try to keep the path

    Thanks again

    #7698
    TTrumble
    Member

    Hello NACAFIED,

    That’s the right approach! Please let me know if there is anything I can do to help.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    #7701
    nattylioness
    Participant

    Ditto to NACAFIED!

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