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Is anyone seeing faster approval at certain banks or brokers than others? rates and closing costs being about the same for all (for a conforming 15 year fixed with a coop apt), what's key for me is a smooth process. thanks.
The key to a smooth process has less to do with the bank/lender and more to do with the individual you will be working with. Interview a few loan officers and seen what type of response, information you get. Make sure the loan officer you start with is the same person that will see you through from application to close. We're getting commitments in on purchases within 2 weeks and closing in 30 days is certainly possible, especially if the buyer is organized. Sunny.firstname.lastname@example.org
What's key to a smooth process is an experienced mortgage broker who stays on top of your loan at all times and is looking out for your interests. I close my conforming loans with Wells Fargo and when they send me info about a loan and request information from me or the borrower, it is taken care of immediately.
E.S. Funding Co.
Dmitry Shpuntov at Wells Fargo - Dmitriy.Shpuntov@wellsfargo.com - excellent service throughout loan process, especially when a bump pops up as he has years of experience and the know how to handle most issues that may arise in this stage of the game. Got commitment in less than 2 weeks.
thank you for your advice. it's good to know that some places don't do hand offs between sales, processing, underwriting, and closing. may be in touch with you soon.
what do you do if you have a 7/30 (I/O) only loan and the lock expires (60 days). i have a pending mortgage with a very large bank and their department has not given the final approval. can the rate be renegotiated? what are the steps for this process.