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what can cause several weeks delay in the processing of a usda guaranteed loan?

The sale of our daughter's previous home closed on
She already had her paperwork in for buying her next
home under the usda guaranteed mtg program.
The LO said her paperwork had passed underwriting and
been forwarded to usda by 11/10 and would take apprx
21 days. Now it is 12/12 and LO claims response not yet
Should she be dealing with a different Mtg Co/LO ?
Thank you

savior70's picture
savior70 | Joined: March 25, 2009 05:14 am | Posts: 0 | Location: New Jersey | 00 Dollars($)


As far as I'm aware of, USDA officials take no more than 30 days after receipt of loan application to make a decision about the loan. If your lender has sent the loan application and all other required documents to the USDA, there should not be so much of delay in processing the loan. Talk to the loan officer and ask him what is causing this delay. If the situation does not improve, your daughter can contact a different mortgage lender.

Like | Dislike | Share | Posted: Mon, 12/14/2009 - 04:45

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