Underwriting Apartment Loans

Underwriting Apartment Loans


Is there any way to speed up Underwriting’s response time? 4 weeks awaiting loan approval and clear to close

This is a short-sale deal. It took 2 months to get a counter-offer n contract and now it appears to be taking just as long to get the mortgage committment & clear to close. We have to be out of apartment by 5/31/08. Original closing date was 5/5/08 and original mortgage committment date was 4/30/08.

Unfortunately no, underwriting is becoming more and more of a stumbling block because of the lender crash that is currently making qualifying harder. The good news is that u/w is the last step in the process and you are very close to getting your house. It usually only takes 3 days to close after u/w gives the go ahead. Congrats!!

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