Commitment letter due Monday 9/28/09 USDA Loan with a Mortgage Lender
Mortgage lender spoke with my agent and said Monday wont be a problem. My question is, if the underwriter has been working on this for the better part of a week would he or she not know this past Friday whether or not I was good to go on the loan? It just seems to me that if it was No Monday it would be No Friday. Could there be more work left for them to do or is it more than likely a matter of crossing the T's and dotting the I's on the letter. Thanks in advance.
Hello Joshua- Did you get the committment letter in time? I hope so.
Yes, I agree with the others. It usually does come down to the last moment/ the last day.
The file sitting on the UW's desk doesn't mean anything- other than it is just in line with dozens of other loan to look thru. They probably only recently even opened it up to review.
Thanks, and good luck,
Ken L.
Hi Joshua,
Robert is correct! Most mortgage/under writers live in the moment. Just because it was sent to the underwriter a week ago doesn't mean they have picked up the file yet. Hopefully everyone that needed their commitment on Friday got it, and that you will get yours on Monday! Best of Luck!
Hi Joshua. In my experience it is a matter of workload and work ethic. It is very common to receive the "Commitment" on the day it is due. Some lenders will provide sooner....but that is the exception.
RobertGreenlbatt
Keller Williams
856-685-1660
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