Underwriting Backlog

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  • #67770
    padgeta2
    Participant

    Does anyone know what the underwriting backlog is currently? Is it done by region (I’m located in SC) or is there one underwriting team for all of NACA?

    #67771
    Nelsont
    Member

    I think the naca underwriters are in north Carolina and the bank of America underwriters are either in Texas or split between Texas and north Carolina.

    #67773
    padgeta2
    Participant

    Is the first underwriting process for NACA or BOA? How long is it taking people to hear back from the underwriters (the first set of underwriting)!

    #67774
    Nelsont
    Member

    Naca.

    Bank of America doesn’t touch your file until you put in an offer on a house.

    Every person is unique. Typically they have 3 business days to respond. Depending on many factors you can get qualified in weeks or months.

    • This reply was modified 1 year, 5 months ago by Nelsont.
    #67777
    padgeta2
    Participant

    I anticipate underwriting needing additional documentation (per everyone’s stories), I was just hoping to hear from them by Friday (or Monday) at the latest so that I could begin rounding up the additional documents they would need. If it’s three business days, that’s great! I have a follow up meeting with my counselor for May 15, and she was optimistic I could be qualified by then. But since I haven’t heard back from underwriting, I didn’t want to get my hopes up!

    #67778
    Rml712
    Participant

    I was sent to UW on 4/27 and did not get a response for 8 days. On 5/5 our status changed to “Not Approved – Conditions.” We addressed them and we’re resubmitted by the end of the day. It’s been two days now and we have not received a response. I figure with the virtual achieve the dream events, we won’t hear back for another week.

    #67779
    kjenkins79
    Participant

    So it took me about 2 weeks to make it through underwriting I was sent to underwriting in 4/17 came back with conditions on 4/23 resent on 4/27(counselor was out of the office) and was qualified as of 5/5.

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