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Updated over 6 years ago on . Most recent reply

User Stats

17
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3
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Emily Wiu
3
Votes |
17
Posts

Help! Underwriter extended closing the day of closing!

Emily Wiu
Posted

My loan officer (not Penny Mac employee) is working with Penny Mac to secure me a loan on a primary home purchase. We started the process in late March, and we always provided everything they requested within 24 hours of they asking. I provided documents for them easily 15+ times during the whole process. After not asking for any additional documents for over a week, and receiving a "clear to close" email from my loan officer on 4/29, the underwriters requested an additional statement on the morning of 4/30, which is the day before my closing, and I provided the document right away. My loan officer told me that the underwriters would contact her back within the end of the day. That never happened. We did not hear back from the underwriters until after the closing time the next day. The underwriters requested additional documents and refused to give us a date or time to reschedule the closing. My loan officer has been in contact with the underwriters and the managers every day since 4/29, was always promised things that were never delivered. I want to talk to the underwriters but my loan officer told me that she can't legally give me the contact number due to conflict of interest! What options do I have right now? I have to move in 10 days and I don't even have a closing date! 

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