Underwriters can cause biggest closing delays

Like Santa in one respect, lenders like to check their list at least twice.  (Click to expand.)

Like Santa in one respect, obsessive-compulsive lenders like to check their list at least twice.

Three obstacles can be attributed to 80 percent of closing snafus, according to Dirk Zeller, CEO of Real Estate Champions, in Realty Times.  I’m not sure the source of his statistic, but he certainly ought to know how troublesome those impediments can be.

Dirk Zeller

One big one is borrowers’ failures to provide all the verifications that lenders require — documents, letters, statements.  In other words, lenders demand that every “i” be dotted and every “t” be crossed.  And they’re not above asking again.

Second, repairs often cause problems.  There needs to be Continue reading

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