Around Tuesday I got a call from our loan officer at the bank. He said they never received my employment history for the past two years. I reminded him that it was the first thing we discussed when we applied for the loan and that he already made copies of the supporting documents. I had to give him all of the information again, but he was able to locate the documents.
Wednesday is when we were originally expecting to have our answer so Will called to check up on how things were going. Daniel, our loan officer at the bank, said the underwriters received all the updates and he suspected they would finish sometime on Thursday.
Thursday we waited patiently till 4'o'clock, When we still hadn't heard anything we called Daniel again. He didn't answer.
Friday we did get a call from Daniel. He said our application was still with the underwriters. He said now they were waiting on a manager to approve of my second income, and they needed in writing an explanation for my job changes over the past two years. He said they actually were counting part of my bonuses at work in my income! (Along with my hourly pay, I am paid bonuses based off of our monthly loan volume and our total delinquency). This gave me plenty of income by myself for the loan.
The good news: Daniel said he thinks we pretty well have this one in the bag. He is sure we are getting approved, because there are only four underwriters for seventeen loan officers. So the underwriters don't have time to waste on applications that aren't going to make it.
We are hoping we will get our answer Monday. We can't think of any more hold ups we could possibly have. But I tell you one thing for sure, I'm ready to start packing boxes!
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