Not closing on time

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Viewing 15 posts - 31 through 45 (of 187 total)
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  • #61926
    2BLESSED
    Member

    @misspritcy1908 congratulations

    #61958
    cynthesized
    Member

    My status changed to

    Lender Status: Underwriting CTC – BOA has completed all reviews and file is Clear to Close (‘CTC’) pending compliance review including verbal verification of employment.

    My MC emailed me that this note is on my file:

    File to HSS for Final CTC

    I’m hoping this means I could possibly get my CTC tomorrow?? So exciting!!?


    @misspritcy1908
    I forgot to say congrats!!


    @leolish
    has your status changed?

    #61959
    leolish
    Member

    Yes, congrats to you @misspritcy1908


    @cynthesized
    – I am at the exact same status as you, uw ctc… which I had to take extraordinary measures to get to. We need the final ctc as sellers are taking to reminding us multiple times a day that they will not file for another extension. Firm deadline is 11/07.

    #61980
    Peapod0609
    Member

    Hoping you guys all get your keys soon!


    @leolish
    I really hope the sellers don’t walk away when you are so close, that would be terrible. Rooting for you to get that CTC final today!

    #61982

    Update. Closed yesterday, keys in hand

    #61983
    leolish
    Member

    @peapod0609 – thank you. We just got the final ctc. Title company is trying to work to get all documents needed so we can close by the deadline tomorrow. Fingers crossed. Thanks!

    #61984
    2BLESSED
    Member

    HALLEJUAH FOR THE BOTH OF YOU @PEAPOD0609 AND @MISSPRITCY1908. For all the NACA members still going through, “trust process.” It will happen! LET’S KEEP @LEOISH ENCOURAGED AND LIFTED UP THAT HE WILL GET GOOD NEWS THIS WEEK.

    CONGRATULATIONS!

    • This reply was modified 2 years, 6 months ago by 2BLESSED.
    #61989
    Peapod0609
    Member

    So my status went back to this, same status I was on 9 days ago:
    “Lender Status: Approved-Outstanding Conditions – Bank of America has conditionally approved the file. The Commitment Letter is available in the Member’s Web-file. There are outstanding conditions that are identified in the Member’s Web-file that need to be provided to Bank of America.”

    This has been a little odd. This is how it has progressed.

    10/21 – submitted bank app
    10/25 – Pre-Decision Suspended ACA
    10/28 – Approved-Outstanding Conditions – Bank of America has conditionally approved the file.
    10/28 – Underwriting-Suspend – Bank of America’s Underwriter completed initial review but does not approve the loan.
    11/05 – Underwriting – Bank of America’s underwriter is reviewing file for initial credit decision
    11/06 – Approved-Outstanding Conditions – Bank of America has conditionally approved the file.

    I am slightly concerned that it sort of went backwards there to the status I briefly had 9 days ago…I called mortgage department and they are asking BOA for clarity on the status update because they said it should be further along than that. Our conditions were all addressed so it should have said ACA, and he saw no conditions in our file.

    #61990
    2BLESSED
    Member

    I am sorry I thought @peapod0609 had her CTC; it is @leoish that I forgot to congratulate. @peapod0609 you will get there!

    #61991
    vero217
    Member

    Congrats on closing! it must feel like the biggest relief.

    We are still siting on ACA- Naca follow up for more than a week. Mortgage department keeps saying all conditions have been addressed since 10/26/19. MC escalated the file last week and so did our agent. Nothing has happened, I call the mortgage department everyday and get told the same thing that there are no new conditions and BOA is backed up. At this point I’m not sure what else to do we are way past our closing date and the sellers have threatened to pull out of sale.

    Some of you have had luck with your file escalated, who escalated it for you?

    #61992
    Peapod0609
    Member

    @leolish I hope they can get it done in time for you, but it sounds good!


    @2BLESSED
    thank you, I am hoping to get that CTC any day now. Our close date is 11/12 but we may have to extend, our attorney already asked for a one week extension yesterday. Also, I am a “he” FYI lol.

    #61993
    leolish
    Member

    @2blessed – thank you! Side note…I’m a she. LOL


    @vero217
    and @peapod0609 – My file went back and forth from ACA to outstanding conditions 3 times. Most of it were things that NACA was requiring BOA to do because of their process. So in other words, BOA says ACA, and Naca can request that they do something else to satisfy Naca conditions. Once everything was finally all addressed, we waited on UW CTC for a week. Here’s how I got escalation: I called the member services and explained that our sellers were threatening to walk, and they transferred me to mortgage processing center to tell them I needed escalation. Mortgage processing department said they put me on the escalation list. That was last Wednesday. On thursday, my realtor followed up with an email to my MC and the office manager that the sellers refuse to sign any more extensions. Office manager then asked for file to be escalated. Friday morning, I called back to check and mortgage department said I wasn’t yet on escalation list but they’d send a message to my MC. I was eventually put on escalation list on Friday around 3pm. On Monday, I then called mortgage processing dept and got the number to the regional director. Called him and he said he re-escalate the file. That, along with some other background maneuvering allowed me to get the UW CTC on Monday. So, from 4 business days from when I first requested escalation was initial ctc. I say all that to say, you may want to check back and make sure that you’ve actually been escalated once its requested. Once you get UW CTC, BOA has 24-48 hours to issue final CTC, but it can take longer.

    #61994
    vero217
    Member

    Thank you @leolish I will keep following up with mortgage to confirm we are on the escalation list!

    #61995
    Peapod0609
    Member

    @vero217 I am rooting for you to get that escalation you need!

    Our seller agreed today to a one week extension to 11/19. Our file also just updated to “Lender Status: ACA Send to UW – The file is awaiting Bank of America’s underwriter review.”

    Sounds like we are almost there!

    • This reply was modified 2 years, 6 months ago by Peapod0609.
    #61997
    Peapod0609
    Member

    Oh my god my file just updated to Underwriting – CTC!

    I am so happy! The finish line is finally in sight!

Viewing 15 posts - 31 through 45 (of 187 total)
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