Yesterday my loan was sent to processing. This is what the powers that be tell me about that:
Today it has been submitted to underwriting. And this is what the powers that be tell me about this:
All the required documentation has been gathered. The mortgage underwriters decide whether or not to approve mortgage loans based on information provided in the loan application. The underwriter will verify income and employment information, review credit history and calculate the value of a borrower’s collateral and assets. They also ensure the property specification and loan terms meet financial institution requirements and government regulations. After the review an underwriter will render one of the following decisions: Approve the loan as it is, ask for additional documentation/clarifications, or deny the loan. * Based on the information submitted to Allen Tate Mortgage for review, additional documentation may be requested throughout the processing and underwriting of your loan application. *Your credit will be re-pulled prior to closing. Any additional debt, new accounts, or late payments may affect your loan resulting in either a delay in closing or denial of your loan application. It is very important not to open or incur any additional debt during your application process.
I think this means I keep waiting, fingers crossed, holding my breath ever so slightly.