How do borrowers cause delays in the loan process?
A. There are many ways you can delay your loan application—so it’s important to adhere to your processing schedule as much as possible. To ensure that your loan and any related documents are processed on-time and on-track, your application must be returned to us within four days after you submit it for application. Maintaining this timeframe will help you protect your lock rate. You’ll also want to make sure you provide and submit all requested information documents, follow through on your appraisal schedule and provide any supporting documents we request. You’ll also want to make sure you’re available to sign all documents required in your loan package. Be aware too, that delays can occur when borrowers request subordination of a current second mortgage.
There are many ways you can delay your loan application—so it’s important to adhere to your processing schedule as much as possible. To ensure that your loan and any related documents are processed on-time and on-track, your application must be returned to us within four days. Maintaining this time frame will help you protect your lock rate. It is very important that when sending us asset statements you send us all pages of your accounts even the blank ones. It is also important that when you fax us documents that you start with a clear and legible copy. You’ll also want to make sure you provide and submit all information documents requested, follow through on your appraisal schedule and provide any supporting documents we request. You’ll also want to make sure you’re available to sign all documents required in your loan package. Be aware too, that delays can occur when borrowers request subordination of a current second mortgage.
There are many ways you can delay your loan application—so it’s important to adhere to your processing schedule as much as possible. To ensure that your loan and any related documents are processed on-time and on-track, your application must be returned to us within four days after you submit it for application. Maintaining this timeframe will help you protect your lock rate. You’ll also want to make sure you provide and submit all information documents requested, follow through on your appraisal schedule and provide any supporting documents we request. You’ll also want to make sure you’re available to sign all documents required in your loan package. Be aware too, that delays can occur when borrowers request subordination of a current second mortgage.
