Torvy
Super Member
Setback! We were supposed to close yesterday. Drove out the 2.5 hours from here. We were a few miles from the property when the rep from the bank called. Despite "final" approval and setting the closing, they did another employment verification. It seems my retired wife is unemployed. She told him that months ago. She also told him to use the equity in our current house and she was happy to share her investment portfolio info if needed. Seems that he neglected to share that info with the underwriters. Now they have to go back and review for a retired person...I worked in a bank and my last few years were managing a loan processing group. This should never happen. Unfortunately, we are over a barrel as it would take longer to switch lenders.