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Rainmaker
3,510,951
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

It's a part of the process.  Prospective buyers/borrowers need to be aware that there is a lot of paperwork.  And then there is more paperwork.   When it seems as if "everything"  has been submitted, every T has been crossed, every I dotted, another hoop must be jumped.   Upfront warnings and constant reminders are part of the "excitement"  .

Dec 22, 2019 04:02 AM
Rainmaker
1,207,832
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

It is infuriating 

Dec 22, 2019 07:59 AM
Rainmaker
3,319,730
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

You're right, it really can't be answered along with the question of why some ask for documents that have already been provided more than once.

Dec 22, 2019 05:18 AM
Rainmaker
1,693,291
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

Good question Paul S. Henderson, REALTOR®, CRS It didn't seem to happen to me to often as a Realtor BUT now as a Notary Public that closes loans I can not believe how last minute title is so often. I was supposed to have a closing yesterday that failed for lack of documents even though I was assured I would have said docs 24 hours earlier.

Dec 22, 2019 05:15 AM
Rainmaker
3,235,288
Richard Weeks
Dallas, TX
REALTOR®, Broker

I wish we knew.  Hint use a local lender who has the underwriter inhouse.

Dec 22, 2019 04:07 AM
Ambassador
4,493,478
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

I suspect that as the deadline aproaches they open the file for the first time, look for the essentials and then start asking for the items that are not in place.

Dec 22, 2019 06:29 AM
Rainmaker
3,102,381
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Most likley because they have not looked at the file. Then see it is due and start. 

Dec 22, 2019 06:10 AM
Rainmaker
3,445,219
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Absolute power corrupts absolutely!

Dec 22, 2019 05:26 AM
Rainmaker
589,524
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

It happens with document reviewers. Everytime they review the file they find something new to ask for. In their defense, sometimes it's stuff they asked for allready and didn't get or got it but it was not what they needed.

Dec 22, 2019 05:19 AM
Rainmaker
1,863,780
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Is it the PMI Co that’s asking ???

Dec 22, 2019 05:13 AM
Ambassador
3,555,557
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

I call it 'back-burner syndrome,' Paul. It's infuriating when you're a Type-A, get-it-done person. I feel your pain!

Dec 22, 2019 02:17 PM
Rainmaker
1,229,616
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Just to make our lives difficult.  No, just because it's part of their job description.  Either way, they hold the prize APPROVAL.

Dec 22, 2019 11:59 AM
Rainmaker
738,531
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

I know it is cynical...I refer to the loan underwriting department as the department that is in charge of killing loans.

Dec 22, 2019 08:25 AM
Ambassador
3,158,124
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I think it has something to do with jumping through hoops...

Dec 22, 2019 03:21 AM
Rainmaker
5,624,724
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

There is no good answer.

Dec 22, 2019 11:09 AM
Rainer
5,765
Dolores Golden DRE lic#01075537
1st Interstate Realtors - Culver City, CA
Dolores Golden

12/22/19

Im getting to the point where, we need to put everything on a flash drive, and resnd them with page number of what item they mysteriously don't have!

Dec 22, 2019 09:49 AM
Rainmaker
1,416,851
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

To cover for their ineptness. 

Dec 22, 2019 08:56 AM
Rainmaker
185,630
Eva B. Liland Century 21 Doug Anderson
Century 21 Doug Anderson - Lancaster, CA
Glad to be of Service 661-714-1643

There is no answer to this question.

1. Over-worked and under-paid?

2. Need to feel important?

3. Un-organized?

4. Seeing the file for the first time?

My local lender has in-house underwriting but sometimes the buyer have been "approved" with an out of state lender which always causes delays.

Dec 22, 2019 08:31 AM
Ambassador
4,127,856
Jeff Dowler, CRS
eXp Realty of California - Carlsbad, CA
The Southern California Relocation Dude

It's one of the mysteries of the loan approval process but likely depends on the lender and the particular underwriter.

Dec 22, 2019 08:08 AM
Rainmaker
2,515,179
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Rubber stamping can be tedious thus causing last minute wake-up calls

Dec 22, 2019 06:12 AM
Rainmaker
502,081
Abby Stiller
REMAX Realty Group - Cape Coral, FL
Professional Bilingual Realtor (239) 284-8637

Just to make our lives miserable. LOL

Dec 22, 2019 06:12 PM
Rainmaker
958,695
Thomas J. Nelson, Realtor e-Pro, CRS, RCS-D, Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

The W-2 employees will always make the 1099 salespeople bonkers in real estate...W-2's get paid no matter how inept they are vs. 1099's need to deliver the goods.

 

Dec 22, 2019 02:09 PM
Rainmaker
4,683,131
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Agree with Michael Jacobs   A

Dec 22, 2019 01:40 PM
Rainmaker
5,223,009
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

I hate that last minute stuff.....

Dec 22, 2019 12:42 PM
Rainer
186,364
Don Baker
Lane Realty - Eatonton, GA

well likely because the loan officer just submitted for review and failed to include that document.

Dec 22, 2019 11:51 AM
Rainmaker
2,851,095
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

My lender and his inhouse team do not do that.  There are times when something crops up at the last minute that must be dealt with.  I am over the moon impressed with how darn good they are! 

Dec 22, 2019 10:16 AM
Rainmaker
1,055,620
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

they decide to fund or not funding the loan. They are the boss.

Dec 22, 2019 10:09 AM
Rainmaker
1,281,087
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Wish I knew

Dec 22, 2019 08:36 AM
Rainmaker
795,920
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Real estate agents ALLOW buyers to select such lenders.

Lenders DO exist that complete most of the vetting process BEFORE the buyer finds the house.

For example, Movement Mortgage vets buyers up front and that means a closing a fast as 3 days and NEVER victimizing the seller.

What agents need to do is place that 'final days' lender on "THE LIST" and make sure sellers understand when it falls through THEY will pay a price. Protecting those who hire us should include protecting them from such lenders.

Dec 22, 2019 05:13 AM
Rainmaker
1,273,234
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

Go figure:

Dec 22, 2019 07:10 PM
Ambassador
2,269,588
Wanda Kubat-Nerdin - Wanda Can!
Prado Real Estate South - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Your question reminds of the old days of short sales and how some banks continued to mishandle documents time after time! Hope you got it resolved Paul.

Dec 22, 2019 07:05 PM
Rainmaker
473,498
Tom Bailey
Margaret Rudd & Associates Inc. - Oak Island, NC

The are always playing CYA

Dec 22, 2019 06:56 PM
Rainmaker
1,717,335
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

Yeah, right, why they do it?!

Dec 26, 2019 06:32 PM
Rainmaker
3,314,275
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

They think they control everything and want us to stress.

 

Dec 28, 2019 11:04 AM
Rainmaker
4,235,238
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I think it is in their genes!  They like to cause everyone stress!

Dec 24, 2019 03:06 PM
Rainmaker
835,374
Mel Ahrens, MBA, Kelly Right Real Estate
Kelly Right Real Estate - Hood River, OR
Customized Choices for your Real Estate Needs

Checklists. Different ones at different times for different underwriters.

Dec 24, 2019 12:21 AM
Rainmaker
663,947
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

It can be a very frustrating process for our clients.  Good to warn them upfront and support them during the process.  I wish I had a better explanation for them but remind them to not fight it or they won't get to the end zone. 

Dec 23, 2019 04:35 AM