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Old 10-15-2013, 01:33 PM
 
Location: GA
399 posts, read 426,267 times
Reputation: 1150

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We're this close <-> to closing and have hit a snag. Let me try and explain this as succinctly as possible.

Everything has been going along fine. We're supposed to close on Friday. We were hoping to get our clear to close last Friday, but when the processor sent our September bank statement to the underwriter, one page was skipped and the underwriter kicked the file back. The loan officer immediately caught the problem, went to the processor's desk (she was off Friday) found the missing page and sent it to the underwriter (who had gone home for the day). Yesterday, the underwriter hopped back on the file hoping to clear it yesterday and then noticed that the employment verification expired yesterday. She should have caught it on Friday and said something when she kicked the file back, but she didn't and yesterday was a Federal holiday (my husband is a federal employee) and he was initially unable to get to work to send another one (they use a website to send employment verifications where ever the employee requests called My Biz).

Yesterday afternoon, he was able to get into the building to send the employment verification, sent it over and last night we noticed that it for some strange reason has his status listed as "surviving spouse." The Department of Defense REALIZES it's a mistake, but they can do nothing but open a ticket and have someone look at it. No telling how long that's going to take because with all the rest of this mess going on, it's just not high on the prioritization totem pole. The underwriter has kicked it back saying they know it's a problem, but they need it fixed before they can proceed.

This is the only thing holding us up and no one seems to know what can be done to fix it and the DoD is unwilling (or unable) to fix it immediately. I realize at this point that if we don't close, our earnest money belongs to someone other than us, but we've put notice in on our condo, it's already rented out so we have to be out of here on the 1st.

Someone have any thoughts? Any ideas? Anything at all???
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Old 10-15-2013, 02:00 PM
 
Location: Denver
103 posts, read 240,594 times
Reputation: 80
it's not very common and some people would advise against, but maybe you can rent the place you are buying from the seller until you close.

I had a client that did this and it worked out fine.

Best to seek legal advise, but maybe could be an option for you.
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Old 10-15-2013, 02:22 PM
 
Location: GA
399 posts, read 426,267 times
Reputation: 1150
Quote:
Originally Posted by infinitylove View Post
it's not very common and some people would advise against, but maybe you can rent the place you are buying from the seller until you close.

I had a client that did this and it worked out fine.

Best to seek legal advise, but maybe could be an option for you.
Our agent said that he would look into it, but quite honestly he said he would be VERY uncomfortable with the idea if Wells Fargo couldn't give them without absolute uncertainty word that this loan WILL close.

Regarding the computer problem, the Department of Defense is now saying this issue is world wide. They ran employment verifications on everyone in the office, including their enlisted employees and they're all stating surviving spouse.
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Old 10-15-2013, 03:16 PM
 
4,542 posts, read 11,542,319 times
Reputation: 3063
Quote:
Originally Posted by dmk31088 View Post
We're this close <-> to closing and have hit a snag. Let me try and explain this as succinctly as possible.

Everything has been going along fine. We're supposed to close on Friday. We were hoping to get our clear to close last Friday, but when the processor sent our September bank statement to the underwriter, one page was skipped and the underwriter kicked the file back. The loan officer immediately caught the problem, went to the processor's desk (she was off Friday) found the missing page and sent it to the underwriter (who had gone home for the day). Yesterday, the underwriter hopped back on the file hoping to clear it yesterday and then noticed that the employment verification expired yesterday. She should have caught it on Friday and said something when she kicked the file back, but she didn't and yesterday was a Federal holiday (my husband is a federal employee) and he was initially unable to get to work to send another one (they use a website to send employment verifications where ever the employee requests called My Biz).

Yesterday afternoon, he was able to get into the building to send the employment verification, sent it over and last night we noticed that it for some strange reason has his status listed as "surviving spouse." The Department of Defense REALIZES it's a mistake, but they can do nothing but open a ticket and have someone look at it. No telling how long that's going to take because with all the rest of this mess going on, it's just not high on the prioritization totem pole. The underwriter has kicked it back saying they know it's a problem, but they need it fixed before they can proceed.

This is the only thing holding us up and no one seems to know what can be done to fix it and the DoD is unwilling (or unable) to fix it immediately. I realize at this point that if we don't close, our earnest money belongs to someone other than us, but we've put notice in on our condo, it's already rented out so we have to be out of here on the 1st.

Someone have any thoughts? Any ideas? Anything at all???
See if there is ANYONE at the DOD who is your husband's superior who could fill out a Verification of Employment by hand.
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Old 10-15-2013, 03:17 PM
 
4,542 posts, read 11,542,319 times
Reputation: 3063
is it a "verbal" VOE or a "full" VOE?
voe= verification of employement
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Old 10-15-2013, 03:19 PM
 
4,542 posts, read 11,542,319 times
Reputation: 3063
is it a "verbal" VOE or a "full" VOE?
voe= verification of employement
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Old 10-15-2013, 03:43 PM
 
469 posts, read 875,631 times
Reputation: 287
next time; pay cash!
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Old 10-15-2013, 05:29 PM
 
Location: GA
399 posts, read 426,267 times
Reputation: 1150
Quote:
Originally Posted by homebeyer2013 View Post
next time; pay cash!
I'll remember that the next time we have a spare 6 figures hanging around the house. Perhaps you can lend it to us?
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Old 10-15-2013, 05:31 PM
 
Location: GA
399 posts, read 426,267 times
Reputation: 1150
Quote:
Originally Posted by TimtheGuy View Post
is it a "verbal" VOE or a "full" VOE?
voe= verification of employement
My guess it's a full VOE. They're trying to get in touch with someone to see if a verbal will suffice, but the military also doesn't like to do anything verbally. There's a proper channel for everything.

We supplied one that had everything, title, pay, hire date, location, etc., but that was (now) 12 days ago and apparently, they need one less than 10 days old. We're supposed to close Friday.
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Old 10-15-2013, 09:42 PM
 
Location: Brentwood, Tennessee
39,003 posts, read 37,656,456 times
Reputation: 73578
Unfortunately, it looks like you've been caught in the perfect storm of not only government inefficiency but MILITARY government inefficiency combined a software error and topped off with the shutdown.

I feel for you.

I agree that the best option is for your husband to continue to walk it up to real people who might actually be able to push this through by hand for him.
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