Who are these underwriter people??

Question

and why are they driving me crazy??? They keep calling me every day all day with a new "issue". Is this normal???

Answer 1

It sounds to me like your lender doesn't know what they're doing.  You can continue the process with them or change, but if you change it might be like starting over, a bit risky.  Frustrating yes, unusual, unfortunately not.

PS: sometimes they ask for all kinds of info because they are having problems getting the loan placed with an investor.  If you were concerned about qualifying, this could be a warning.

Answer 2

??

WOW.  I have never ever known

an underwrite to call a borrower; they

have secretaries and loan processors

to do that; or maybe that is who is calling

you but they say

"this is [for] underwriting.

ONE way to get rid of this which is quite

legal, and get what you want, is

to state, clearly in writing;

Sir:

I expect you to follow the law.  Real

estate law, to be enforced in court,

requires things to be in writing.

When you wish to offer me a loan,

and you need more data,

please give me a single list of needs.

ONE list only.  Make your loan to me

conditional upon providing that data.

---IF you cannot/will not do this,

I will contact my real estate agent

and back out of this process with your

[bank?] company.

A home purchase contract is

an agreement between a buyer and

seller and usually, each side states

their needs AT ONE TIME and when the

other side provides same, they go to

escrow.

This is the process I will follow.

Sincerely,

[what is your real estate agent doing

while all these calls are coming in to you?]

Answer 3

LOL .... YES , it is "Normal" . Underwritters are the ones who decide IF you get your loan / mortgage finalized or not ....

With the way the housing market is in such bad shape with all the foreclosures etc .... they want to be xtra careful that you'll have the means to pay and that you willl pay for your loan .