Sunday, February 24, 2013

Underwriter - Or He Who Must Not Be Named

February 8 - We received notification that our paperwork had been sent to the underwriter.  Well, this was certainly good news.  It had made it past the initial process of pre-approval with the sales representatives, close scrutiny by the mortgage man, scouring through by the processor, picked apart by the Creddo company, and was now off to the underwriter.  This cat's job was to make the ultimate decision about loan risk.  This was where it felt so close, yet so far out of reach.

So, we waited to hear anything.  We assumed that no news was either good news or we should prepare for the worst.  Set your expectations low and you will never be disappointed, I think Einstein said that.  We were not quite prepared to fully invest emotionally into a house that we could possibly not get.  We started to speak about it in terms of "If we move...."  We even started to price shop some potential furniture and other necessities for our potential new home.  Although, we remained cautious about getting too excited about anything.  After all, this faceless entity called "the Underwriter" could deny us at any time.  Gulp!

February 13 - We received a message from Emi saying that she needed to contact Bryan's HR department to verify income.  Basically, they wanted to make sure the income was going to stay consistent throughout the lifetime of the loan barring any deaths or layoffs.  This took some time as HR is not always the quickest to return phone calls, but it was accomplished!  It seemed like everything was back on track.  We just needed to wait to hear the results of the approval....or the denial.

Tune in at 11......

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