Underwriting NIGHTMARE!!! HELP!

Tips and Deals Forums Home Mortgage Underwriting NIGHTMARE!!! HELP!

This topic contains 0 replies, has 1 voice, and was last updated by  Anonymous 7 years ago.

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    Anonymous

    We have been in contract over 60 days now, with our closing having been postponed three times now due to conditions that UW keeps throwing at us. We have satisfied each of their requests (paystub copies, copy of gift check for downpayment for FHA loan, copy of builder’s license, I literally could go on and on). My question is, do I need to find another lender at this stage of the game? My realtor is pushing me to take our file elsewhere (a local mortgage broker in our small town) and she is a dual agent in this deal. We have satisfied every condition that UW sends to us within a couple of hours, but every day I hear that they are still reviewing it, and then next thing we know, here comes another request. We are out of contract dates as of tomorrow, and still no clear to close. I know our scores are fine for fha, and the front end ratio is great, but backend is close to 48%. Is there any hope of actually getting this closed? My loan officer got testy with me and said no other lending would touch this loan. Is she full of it? I hate to think that we are not going to get our house, and hate it even more than we stand to lose $2k at this point in earnest money and appraisal fee!

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