What is the definition of processing versus underwriting stages. When I should know that my file is in underwriting stage?


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When the appraisal is ordered and performed .. sent back to the bank .. reviewed by the bank .. counter offer or accepted .. its in underwriting.

A processor is person who gathers all SS documentation required by the mortgage Company to provide to a negotiator once all docs are in. The negotiator role is to check delegations (what type of workout the investor may allow with particular type of loan). Once, the negotiator meets the investor's guideline and minimum net required; he will submit for underwriting or underwriter for approval. From the bank stand point it's call QC (quality control) as usually referred internally.  Some other banks call  'the underwriting stage' when it goes for investor approval; meaning you are very close for an approval. 


  Processing with US Bank is the task of ensuring that all the documents needed are gathered for sending to the negotiator. This means they also have the BPO report back.  (Multiple re-sends of docs they already have)

 My contract with US Bank was ratified 4/6/13.  Mine went to negotiator 6/18/13.  It was a constant struggle during that time to check and double check everything they told me to be sure it actually happened.  I went on google to identify other key US Bank folks to call and call and call before I finally got a call back from someone who intervened.  They wanted to know how I got their number, and honestly, I could not actually remember because I had phoned soooooo many people.  After this person helped, the processing moved a step and stopped again.  I called the person again who said he would help but for me to try to use the assigned relationship manager.  I called every single person involved in this transaction from the processor, the BPO company, BPO agent, etc.  It was difficult to get their contact information because US Bank will not give you anything but the Relationship Manager.  Sorry this is soooooo long, but this has been like birthing a baby:).  The negotiator sent the file to USDA on 7/19 for final approval.  I have called USDA to verify receipt.  So, I am still following and calling to be sure that USDA sends it back to US Bank and then will be calling to ensure US Bank receives it back and then indeed does not delay in the final written approval.  So, I'm not done yet, but I am doing Lamaze in the delivery room.    Wish I had concrete numbers to give you to help with your specific file.  If I can help, let me know.  Linda  

Hi Linda,

Do you recall who you talked with?  I can't get anywhere with a file that for 10 months has a cash offer that meets net.  It's been in "underwriting" stage for a month and I can't get anyone to give me an answer or actually respond with an update.

That was quite awhile ago.   It was a struggle.  I called many internet search finds looking for highest level folks related to US Bank.   One call led to "success" but not sure which.  A secretary in a different State than the negotiator looked up the negotiator's supervisor's Supervisor and gave me that number.  I don't think she was supposed to do that, but then I kept calling that person.  That person had me send him entire file and moved it forward.  When it stopped again, I called him again til it finally closed.  Here are contacts I had noted on my file.  They may be able/willing to give u other contacts.   Good Luck as US Bank was the worst.   I will also ask an attorney who negotiates many SS to see if he has a contact for u.
Christine Onstott Assistant VP of Home Mortgage US Bank.   270-691-5100
Ryan Clastille   My negotiator's supervisor's supervisor.  314-425-6297
Hope this helps!     Linda



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