Wednesday, March 30, 2016

Is Death by Mortgage Paperwork a Thing?

Received an email from HomeSide (NVR) last night stating:

"Congratulations! Your loan has been conditionally approved by the underwriter. Items required to be provided by you are listed below."


Proceeded by yet another insanely long list of document requirements. Some of them are obvious and expected carryovers - for example, monthly bank statements, Homeowner's Insurance Policy, 2016 tax returns; while other requests were....a little special.

Other Ryan Home build peeps - is this the "Official" approval? Because it was very non-eventful. From reading other blogs, I thought there would be a call / letter / email....something?

Hubs has called our (4th) rep. three times already to ask important questions about moving forward, and to provide updated information (most important - the FINAL total cost from Ryan, because their numbers are based on an old total). Each time she has promised to "call him back before she leaves at 4 pm". Spoiler Alert: she has never called him back.

I'll spare you the full list, but point out a couple of the most frustrating items this go-round:

8. Copy of the final CD that is signed by you and by the seller for the sale of your current home.

No clue what this is. Our agent has no clue what this is. If the woman would call my husband back, perhaps we could get clarification so that we can provide this item.


9. Signed, dated letter from the person that shows as the joint account holder on your TD Bank accounts stating you have 100% access to those funds.

Have already sent this 2x. Nothing has changed. I just keep re-sending the same document like a crazy person.


11. Signed, dated letter to explain the following address that is noted as current within the time frame of residences listed on the application: 101 Tyler Ct. Comment if you owned or rented and approximate dates.

We rented a basement apartment from friends from 2000 - 2003, before we were even married. Why they could possibly need this information from SIXTEEN YEARS ago, I cannot begin to fathom.






5 comments:

  1. I hope this isn't too terrible for me to say, but I am glad we aren't the only ones having to deal with NVR and their bullshit.
    Our list was forever long, and it's mostly ridiculous.
    I had someone higher up at NVR contact me about my initial NVR post and how I ranted and wasn't happy with communication from them.
    It has since been "fixed" and now our processor is overly dramatic with sending replies every time I ask a question or send over a document that they need. It went from one end of the spectrum to the other.

    Hoping your list dwindles quickly and you get some answers.... but know I feel your pain and headache with this one!!

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  2. Haha. They keep asking me for divorce paperwork. Like... my divorce 11 years ago. I do think it also boils down to the type of loan you have. I have an FHA so they basically want my entire life story... signed on a letter of explination lol. Good luck!

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    Replies
    1. I'm not a mortgage loan officer, but that seems a bit crazy to me! I know FHA is much more intense, but I've heard the same things about VA loans - and ours is a conventional - but an 80/15/5, and apparently requires more paperwork than I thought humanly possible.
      So maybe they're all this intense as a result of the housing collapse a few years ago?

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  3. Haha. They keep asking me for divorce paperwork. Like... my divorce 11 years ago. I do think it also boils down to the type of loan you have. I have an FHA so they basically want my entire life story... signed on a letter of explination lol. Good luck!

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  4. Hi there! I stumbled across your blog tonight. My husband and I are building a Venice in Virginia. I can completely relate to the whole mortgage process confusion. We never got any sort of official approval. Last I heard our loan was going to the underwriters, but they gave Ryan the green light. Now here I am, just locked in our rate. I am assuming we are approved?? HA! The list of stuff they want seems never ending. Divorce paperwork however was never something they requested. We are doing a VA loan. I hope that helps ease your mind some. Hang in there! Once you break ground, the process seems to fly by!

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