USDA just approved my loan file and now is going back to underwriter for final review. What potential issues can happen at this point?

Asked by SAMANTHA, Savannah, GA Wed Nov 16, 2011

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Taj Weldon’s answer
Taj Weldon, Agent, Tracy, CA
Tue Mar 27, 2012
I agree with Rocky.I usually on let out a sigh of relief when funding is in Escrow.But please know that everyone is scrutinized by the underwriter and at theend of the process they become ultra paranoid.
0 votes
, ,
Sat Jun 15, 2013
All loans go back to the underwriter for final review, it is just standard procedure. There are tons of things that could have been left undone. Hopefully your loan officer has everything in there correctly, if so it is more of rubber stamp than anything.
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, ,
Sat Jun 15, 2013
All loans go back to the underwriter for final review, it is just standard procedure. There are tons of things that could have been left undone. Hopefully your loan officer has everything in there correctly, if so it is more of rubber stamp than anything.
0 votes
Shane Milne, Mortgage Broker Or Lender, South Jordan, UT
Thu Nov 17, 2011
If USDA has issued their "Conditional Commitment" and it isn't asking for anything, then that is one of the last steps the lender needs before they give your loan the "clear to close". The lender's underwriter would review the conditional commitment, check to make sure everything USDA is asking for is already in the file (98% of the time it is), and if it is then they'd let your loan officer & processor know that they can put in a request for your final loan documents to be drawn up for the closing. Usually it doesn't take more than 1-2 days for the underwriter to review the conditional commitment, so since you asked this yesterday then on Friday (the 18th) I'd check with your loan officer on if it's all been reviewed by the underwriter. Hopefully you are closing next week.
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Rocky G.H. H…, Agent, Ripon, CA
Wed Nov 16, 2011
Hi Samantha,

There may or may not be final conditions that need to be met. The underwriter could request additional documentation or information from you in order to provide final approval. If you're waiting for a clear sign, its funding.

I hope this helps.

Best regards,

Rocky

Rocky G.H. Hawrysz
Prudential California Realty
(209) 444-6610 – Direct | Rocky@PruCalifornia.com | http://www.TeamHawrysz.com | License No. 01468373
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