Manual Underwriting for mortgage?

Question

My mortgage received underwriting approval with conditions (gift letter, appraisal etc.) After the title search the taxes came in higher then my lender first calculated (approximately $120 per month) - the lender now says that it has pushed me to manual underwriting. I am applying for an FHA loan. I have documented income of $86k, my mid score is 612, I am applying with Countrywide. Am I setting myself up for a let down. I have about $5k in credit cards - no lates at all but discharged bankruptcy in the past which brought my score down. Any advice would be helpful.

Answer 1

Just let the lender take care of it, all you need to do is give all the right paperwork and be truthful and do not run anything on your credit until you are through this part and close on a house (hopefully), countrywide is one of the mortgage companies hit the hardest so if you don't get approved don't worry try another because you may get approved there.  I know someone who helped me out and may can help you too. Send me a message if you want his e-mail address, and he is legit. I have my pre-approval now!!!! Oh yea and manual underwriting just means they may have to call you know your utility company,power comany, etc. to see how you pay your bills.

Answer 2

It just means that a person is looking at the whole picture, rather than a machine looking at a checklist.