Question FHA mortgage, the loan was approved for nearly two weeks and still no loan docs!?

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Both my parents asked FHA loan on a foreclosure property. The assets have already been tested, evaluated, and all my parents credit and income are controlled by the lender. The lender has already approved a loan before the doc and all conditions are met. But nearly two weeks later, we have not the loan documentation. My agent has already extended the deadline for 2 times, it will require more ├╝ks.Vastavalt FHA loan processor loan officer has made a mistake and the number of cases, the property address, so we do not obtained the loan documentation until they resolve it. My loan officer, agent, underwriter, and the phone was the FHA loan processor, and all we have is “We need to take care of tonight or tomorrow morning” or “Its my list to do today.” Near two weeks later, after the approval of the lender and still no loan docs.Minu parents and I are very worried about having to ask a third extension of the deadline, and it happens all the advice what should we do? Is there anywhere (number of FHA), we believe that we can see what happens? By the way, I asked your FHA loan officer to require proof of error in your paperwork and they did not send a few documents in some errors in the address property.

1 Comment
  1. Reply
    Professional Peon
    April 30, 2011 at 12:30 am

    I can say this, the mortgage company has only a certain amount of time to get your opening docs out to you by law.

    However, if you are talking about your closing documentation… I have seen it happen on many very few occasions where the address was wrong, basically that starts the clock all over again so considering how inundated most companies are getting with applications, when they were told the address was wrong your file went to the back of the file until the file was resent to FHA to have another case number given.

    I would have you call FHA and find out the current timeframe for issuance of and FHA case number. If that is what they are waiting on then all they can do is wait.

    If my memory serves correctly ( and it may not due to my age and the fact that it has been almost two years since I processed loans and guidelines have severly changed since then) Typically the opening package should be sent to out to you within three business days so can see your projected costs.

    However the loan cannot close (because the computer program will not allow them to print the closing documentation) until the FHA case number has been assigned. The case numbers and addresses are not interchangable, so it’s nothing personal it’s just a long process, and almost as painful as this long response lol sry.

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