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Tammy, Home Buyer in Georgia

If your loan has to go to the regional underwriter does that mean bad news?

Asked by Tammy, Georgia Thu Jun 12, 2008

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Hi Tammy,
I might take a different approach. Having owned a mortgage company for many years, I am always less comfortable with the more eyes that need to see a file. Typically, a loan will go to "regional" for larger loan amounts,property types, etc. Also, the word "regional" can mean "outside investor". Again, you have a whole new set of eyes. Eyes that are typically more conservative. My advise is to be persistant with your mortgage contact and let the process play out. Good Luck.
Web Reference:
0 votes Thank Flag Link Thu Jun 12, 2008
It's not necessarily bad news. Sometimes certain criteria requires two underwriter signatures. What does your loan officer say?
Web Reference:
0 votes Thank Flag Link Thu Jun 12, 2008

That does not necessarily mean bad news. More importantly, if the situation may seem unusual or the loan officer is making it appear that way you need to ask them specifically why it has to be sent to a certain place or is getting special attention. All loans have to be seen by underwriters not sure why this would be a special situation. I would try to find that out....

Brent Bester
Mortgage Professional
0 votes Thank Flag Link Thu Jun 12, 2008
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