Final loan approval delay (rate lock, lender, closing, need)

[nsharman]

Hello

I have been reading various threads on delays with the lenders causing the closing dates to be uncertain. I am stuck in a similar situation where the mortgage broker is telling me that he can't tell me definitively when the lender will approve the final loan docs. My application has been approved with all of the last minute contingencies removed. Is this possible?

Should'nt the broker be able to tell me roughly how long it will take. The problem now is that I am going to have to move my closing date but I don't know what date it should be. Additionally, the same broker very confidently sold me a 30 day rate lock bragging that he would be able to get the paperwork done. Now he is seemingly not able to even get a response from the lender's underwriter.

Anybody shed some light on this? Or is the broker playing games?

Thanks

[chet everett]

Probably just an overworked lender. A lot of lenders cut too much staff and now are drowning in work. I doubt that the broker would be playing games, but I am also a little surprised that the bozo is not working hard to find out if you need to push back 10 days, 20, or longer...

I would be tempted to camp out on broker's front lawn, but that might not do a lot of good. If the broker is a pro they ought to be in contact with the lender at least daily, and tracking the progress of your loan. I did not think there were any "non pro" type broker's left standing so maybe you just need to remind the broker to do their job -- if this thing does not close lots of people go away with a pay day...