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We are waiting on underwriting to come back. It was sent over yesterday morning, and we should know something tomorrow for sure, but our loan officer keeps telling us it is a done deal. His exact words were that he works with the UW's every day and he has a idea what will be approved and what will not. Can I be confident that he knows what he is talking about?
We are waiting on underwriting to come back. It was sent over yesterday morning, and we should know something tomorrow for sure, but our loan officer keeps telling us it is a done deal. His exact words were that he works with the UW's every day and he has a idea what will be approved and what will not. Can I be confident that he knows what he is talking about?
While I agree that if you don't trust your Loan Officer than you're working with the wrong one, until you get the "congrats you've been approved" call from underwriting don't count your blessings yet. Good Loan Officers have effective working relationships with their UW's, but the thumbs-up or thumbs-down comes from the UW who assess the viability of the loan objectively, and doesn't make commission. Make sense?
I trust our LO. He worked with us last year, and told us he didn't think they could help us. They couldn't. This year he says everything is going good, and that we could start packing if we wanted. They went ahead and ordered the appraisal Wed morning. Would they do that if it didn't look good?
I trust our LO. He worked with us last year, and told us he didn't think they could help us. They couldn't. This year he says everything is going good, and that we could start packing if we wanted. They went ahead and ordered the appraisal Wed morning. Would they do that if it didn't look good?
Looking good and getting to the table are most times 2 different animals, that's all I'm saying. Please don't get me wrong, I am by no means trying to rain on your parade, but as a LO myself I've seen too many people get heartbroken because they started packing 3 weeks early y'know?
Trust the process and behave accordingly. You don't open your presents before Christmas right? Just be patient and trust the process.
You have no choice but to work though the LO and trust to the same extent you would any service provider (to an extent knowing they get paid when you get what you want). My LO is currently trying to push the UW for a change (UW has improperly identified flood risk) on my refinance and I have no choice other than work through him.
Trusting that someone is capable at their job, and not questioning anything a person says are different. We were blessed with 2 eyes and our own judgement. The only people who's word I take for gospel are my wife and my mother. Call me a cynic but so be it.
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