Trying to stay positive but it’s hard

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Viewing 15 posts - 16 through 30 (of 66 total)
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  • #62915
    cstar89
    Participant

    I’ve been in the same status since 11/22 and have not yet received my closing disclosure. I don’t think this is the norm but it seems as if the 2 days off last week really put a wrench in already tight timelines.

    What has your MC said? Have you been following up with them and the Mortgage Department daily?

    #62917
    Nelsont
    Member

    1. Yes, unfortunately.
    2. There have been reports of a 2 week back log. Normally you are looking at 1 to 2 weeks after the initial CD otherwise…you are close!
    3. Have you yourself actually received any conditions? If so have you submitted those conditions?
    4. Sometimes conditions are not for you, they can also be internal notes for BOA to follow up with another BOA department or NACA
    5. Call the mortgage processing center and see if they can tell you what the conditions are and if you can have your file escalated if you’ve already taken care of the conditions.

    #62923

    What’s your status? Yes, I call everyday, To see if there are any conditions I can’t see. The office manager said everything is set for 12/10 but I’m not optimistic.

    #62924
    Nelsont
    Member

    Don’t call your local office. Call the mortgage processing center. It flips over to member services if the phone doesn’t get picked up right away. This is a brand new department specifically to look at in process loans.

    • This reply was modified 2 years, 8 months ago by Nelsont.
    #62926

    Thank you, I’ll call for conditions Monday morning and ask about the escalation process. Which files qualify and how it works. I was in a backlog this summer when I was requalified for a higher payment. I was waiting from Aug. 15 to Oct. 8. I’m hoping I don’t have to go through this again.

    #62957
    cstar89
    Participant

    Hi- Were you able to contact processing? Any updates as of yet?

    #62983

    @cstar89

    No, I keep getting forwarded to member services. I’m going to keep trying. When is your scheduled closing date?

    #62986
    cstar89
    Participant

    Today is busy, but Mondays usually are unfortunately. I called all through lunch lol, got member services each time. I’m going to call on my way home.

    My scheduled closing was 12/10 per contract but it changed to 12/11 once it went to UW. Either way at this point both seem like a stretch.

    #62988
    Peapod0609
    Member

    @cstar89 if you haven’t already I would ask the mortgage department to escalate your file if you’ve been at the same status since 11/22 and your contract expires on 12/11.

    I can’t see any way you could close by then without significant escalation. I would also try and get and get an extension with the seller at this point if you can.

    #62989
    cstar89
    Participant

    @Peapod0609 the file was escalated last week, the bank responded with the (same) commitment letter that was issued on 11/22/19. I’m not sure what else to do at this point. All I’m being told is its with the lender and they are behind. I’ve advised my agent we may need an extension which sucks because this cuts into the time I was using to get the professional cleaners and painters in.

    I don’t understand why they are so behind. It looks like you were able to close within 30 days so its definitely possible. I had my conditions within a week of them looking at the bank and they were primarily for my MC and my agent. No one can tell me why I don’t have my CD…. no one, and its been 2 additional weeks.

    #62991

    @cstar89

    I tried to call again, still getting forwarded. Someone from BOA called my insurance agent about getting whatever they need to close tomorrow. But my file doesn’t say clear to close, so I don’t know. This process is driving me crazy.

    #62992
    Nelsont
    Member

    It depends on when your contract was ratified and when you are set to close. BOA largely goes in order of first come first served and is backed up. can generally expect 2-4 weeks from commitment letter to close without delays. As it stands there have been recent reports of BOA being 2 weeks behind. So the reissue of the commitment letter might just be a strange way of BOA letting you know they are aware of your file and have no updates (though if that is the case they really should just say so). Given what I know I would expect you to close between then end of December or beginning of January with a possible down time until then of not hearing anything. Just be patient. You will succeed.

    #62993
    Peapod0609
    Member

    It’s simply Bank of America being behind, which is unfortunately nothing new for them. They are behind on their NACA files and while it seems like they are catching up, things are still very slow. The holidays made it even worse it looks like, so I think that’s kind of what is happening right now.

    I would possibly ask if it can be escalated further if you can, there is not much else to do except that and get extensions.

    #62999
    cstar89
    Participant

    @anxiouslywaiting19 thats a really good sign…I actually need to call my agent and tell them not to bind coverage on that day but I may do that tomorrow

    #63000
    cstar89
    Participant

    @peapod0609 you are right…at this point it is what it is…I asked my agent to request the extension.

Viewing 15 posts - 16 through 30 (of 66 total)
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