Reduce the amount of hoops people have to jump through to get their loan.
Send or request needed paperwork to be signed more efficiently. Being our first home buying experience, it felt like we, as the buyer, had to be the "middle" person too much between VUHL and the builder. The wrong Mortgage Insurance company was selected on our closing paperwork after I had sent in a quote from the Insurance company I wanted selected. We ended up having to pay a higher interest rate due to the length of time for the sewer tap to be completed. While I understand this was on the township, after the sewer tap was approved, I feel like VUHL could have "pushed" for a 60 day completion from the builder as we only missed locking in the lower interest rate by a few days.
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When applicants disclose prior bankruptcy's on their record at the beginning of the loan process, any/all letters of explanation that might eventually be required by underwriting should be investigated at that time. When underwriting requests this information in the 10 day period prior to the scheduled closing date it causes unnecessary stress on the applicant by causing fear that underwriting could deny the loan at the last minute.Also, when the offer to include any/all VA Funding Fee's into the home loan, loan officers should specifically state that those fees do NOT include any Veteran's United origination fees and an estimate of what those fees will be. This lessen the stress on the applicant when closing costs are discussed later in the process.
Communication is key I should not have to call and email every day to find out the status of my loan. It also should not have taken 8 weeks to do a loan that would take any other loan agencies 4 to 5 weeks to complete. I expect when I call or e mail asking a question to get some kind of answer the same day even if the answer is I am not sure but I will find out at least I know my concern was heard.
