Pending without Option
Once past the Option Period, your focus moves to the mortgage process.
Expect to hear "That's all we need" - then be asked for something else minutes later. It seems every document or verification leads to the underwriter needing something else. Know it's coming and laugh about how crazy it can be, because there is no way around it. I'd love to simplify the mortgage process! But they are loaning large sums of money, with Federal oversight, mixed rules and regulations...
They need to dot even i and cross every t. And document how they did it. In triplicate.
While this is taking place, you'll hear from Michelle or myself a few times. Mostly, it will be you and your mortgage team communicating until we get close to the closing celebration.
Expect to hear "That's all we need" - then be asked for something else minutes later. It seems every document or verification leads to the underwriter needing something else. Know it's coming and laugh about how crazy it can be, because there is no way around it. I'd love to simplify the mortgage process! But they are loaning large sums of money, with Federal oversight, mixed rules and regulations...
They need to dot even i and cross every t. And document how they did it. In triplicate.
While this is taking place, you'll hear from Michelle or myself a few times. Mostly, it will be you and your mortgage team communicating until we get close to the closing celebration.
