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rn2015BSN, Both Buyer and Seller in Schenectady County, NY

Loan Processor Means No Underwriter?

Asked by rn2015BSN, Schenectady County, NY Sat Jun 1, 2013

If our loan has been conditionally approved (and we have supplied the documents required - just waiting now) and our communication has been with a loan originator at first and now, after the approval, a loan processor, does that mean no underwriter has seen the file yet?!! I'm just wondering because I thought you got the conditional approval from an underwriter. I'm nervous because I know the underwriter is the final say. Thanks!

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3
Well it's weird- all conditions are "prior to closing".
0 votes Thank Flag Link Sat Jun 1, 2013
Your LO should be the light and the way through the entire process. If the LO has gone MIA, you might want to pick up the phone and start calling them. My Processor doesn't even communication with my borrowers unless I specifically ask her to. If your LO has dropped out of sight, that tells me what kind of person you have selected to Captain the ship. Once your loan has been formally approved, you will get an approval in writing with conditions broken in to Prior to Doc and Prior to Funding Conditions. If you have provided those PTD and PTF Conditions, then your job is done and they are just pushing paper to get you to the Doc Stage, then to closing.

Best of Luck!
0 votes Thank Flag Link Sat Jun 1, 2013
The underwriter is necedsary to the loan.

Your loan officer should be walking you through and explaining the steps and requirements to you.
0 votes Thank Flag Link Sat Jun 1, 2013
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