What happens after I submit an application?
After your application and documentation is received, we forward it to a processor who verifies and validates all of the information to be true and correct. Verification requests may be sent to your employers, mortgage holder/landlord and lending institutions. This is done by fax when possible. When all the information is collected the processor then verifies that basic lender loan requirements have been met. The completed package (including the appraisal and title report) is then sent to the underwriting department. The processing of your loan usually takes about a week but it is often delayed when third parties do not respond to the validation requests or appraisals are delayed. If your loan qualifies for automated underwriting the documentation requirements are often reduced and the process can be completed in one to three days depending on the volume of loans the processor has.
You are placed on a list which is ranked according to lottery number. For example, if Billy Bob’s lottery number is 1 and he applies by himself, he is the first person on the list. If John Doe and Jane Doe apply as a group and their averaged lottery number is 2, then John and Jane are the second and third people on the list. And so on. The university will make a decision in March as to how many people can be released off campus for next year while still maintaining 100% occupancy of rooms on campus. This decision is based on a number of factors, including the estimated size of the incoming freshman class, projected upperclassmen retention rates, etc. Once the Department of Residence Life receives the decision number, we count down that many people on the list. Everyone above the cut off will be tentatively released, while everyone below the cut off is not released. We then notify everyone on the list of the results via email.
• Your credits will be evaluated according to the requirements of the certificate you indicate on your application. • If the credit evaluation shows you have completed all requirements, a notation for the certificate will be posted on your BCC official transcript. • A certificate of completion will be mailed to you. • You will be notified if there are deficiencies for the certificate.
