The short version
A loan can stall quietly. A condition waits on a document, an appraisal comes back with a question, or a title issue turns up. When nobody has heard anything, it often means something is waiting on someone.
So silence during a loan isn't a sign that everything is fine. It's a reason to ask.
What can hold a file up
None of these is unusual. What matters is that the right people hear about them.
- A condition waiting on a document
- An appraisal that comes back with a question
- A title issue that needs clearing
Five Star Communication
Five Star Communication is how I handle that. It's the fourth item of the Home Express Mortgage Guarantee, word for word: "Everyone in your transaction, you, your agent, the settlement company and the lender, is updated at the same time. - That's Five Star Communication."
The third item goes with it: "You get personal status updates on approval progress through closing."
The updates go out by email and by phone, to each party as appropriate. The listing agent hears too, with your OK.
What helps from your side
If I ask for a document, send it through the secure website. If something changes on your side, such as a new job, new credit or a large move of money, check with me before it happens if you can, or tell me as soon as it does.
And if you want to know where things stand at any point, ask. I answer every call, text or email.
Questions? Ask Joe
How this applies to your situation is something I can go through with you personally, as a licensed loan officer. Florida (561) 320-2211 or Georgia (678) 289-6600, call or text. Or email info@homeexpress.com.