What is taking so long?
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We completed and our broker sent off everything to Home Savings to have the senior underwriter give the final approval on our loan. Taking in to concideration that the final paperwork was faxed on Thursday by 5pm (PST) to the bank office, what's the hold up? The bank is located in So.Cal where our brokers office is so time difference wouldn't be a factor for the paperwork not being recieved (faxed) by Friday morning. I thought in most cases, it would be 3 business days at the most. Called the broker yesterday (Wed) and he was going to send off an email to them to find out what's going on. Is it normal to wait this long? If they were going to turn us down, would it occur in the first (business) day?
What is taking so long?We just closed on our refi about a month ago and it took approx 3 weeks from beginning to end.
What is taking so long?I had a lender tell me very recently that due to so many people trying to take advantage of interest rates, there are alot of refinances going on and things are backed up.
Hopefully that is all it is and you hear something soon!
What is taking so long?a refi... I dont think I have ever seen one come back from underwriting in under 2 weeks and that was a speed thing where it was all within the same company. It's only been just barely a week, IF someone was working late hours last thursday, which many banks/lenders dont AND assuming that your senior underwriter works fulltime, which I have seen many that dont.
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