I have been waiting two days for these people to be finished with the loan already. What do they do and how long does it usually take? Any mortgage company employees please answer. Thanks

 

Who are you working with? Is it a lender or a broker? What do you mean by quality control?

I really should start advertising my services here just to eliminate the headaches that you guys are going through.

 

I am working with the lender. The quality control people are the last people to see the file before they clear it to close. Now they are questioning my 90 day probation for my new job. I mean some jobs do that, shouldn't my overall job history matter? I have been on my current job for over four years and i have to change because i am moving. do you think this will stop it from going through?

 

The lender is handling this very poorly. For one thing, as far as the customer is concerned, there is no quality control. All the quality control, usually know as underwriting or processing, should happen up front. Secondly, whoever your representive is that you speak with on daily basis, should present this to you in a professional manner. Thirdly, you are stuck with them, next time get a better lender. Lastly, if you had this job for four years and you still have the job, this should not even be brought up as an issue.

 

I work for a lender. QC varies for each file. Sometimes the file that is sent is missing pertinent information that the QC needs to review. Maybe that's why it didn't go into QC. Sometimes after you get the initial underwriting approval it can go in right away. The length of QC varies for each lender but my company takes 2 days usually and less time on non-arms length stuff.

Since you're changing jobs they have an issue. When you move they have to make sure you have a new job that you already started so that you can guarantee repayment. Since the QC nitpicks the file they saw that you have a 90 day probation period. They're probably calling the job to see what kind of likelihood you have of keeping the job so that you'll be paying back the loan.

Your rep. should tell you how long QC usually takes. If it's taking longer than usual, he should intervene and find out why the delay.

Why did your file go to QC anyways?