My Grandmother's pound cake recipe will not work unless I use the right ingredients, exact measurements, bake in the right pan and at the right temperature while standing on my left foot whistling "Dixie." But it's well worth the effort when it turns out perfectly!
Getting a loan through underwriting and to closing has become more challenging but at least no one has to whistle! But like the recipe, we have to have all the right ingredients - full application, all required documentation, full disclosures of funds, full disclosure of property conditions and enough time to bake it up just right.
Yes, underwriters are asking for more documentation and asking more questions than ever before. We, at Coldwell Banker Mortgage, are working to get all of the ingredients prepared and ready to go before we put it in the oven.
You can help by being prepared and to have your documentation available even before application. Loans ARE closing and business is booming. However, there is no allowance for assumptions or missing pieces of information. Thank you for all your help in making this a team effort.