There is a lot of paperwork, and at times, I know we were having to give the same information over and over again. There really ought to be some way to make the process more streamlined! Overall I am satisfied on how the process went and appreciate the helpful and efficient loan officers that worked on my case! Thanks
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The multi-phased approval notices create discomfort to a potential borrower. Don't have a specific recommendation. Also, the team of staffers need to explain why certain info is needed. The training needs to focus on customer/borrower and not just VA, Bank, underwriters, etc.
The process took too long and way too much paperwork at closing. Improve these and it would be much better!
I felt that VU required too much information for the loan. It was apparent that I qualified for the loan and my income/debt ratio was satisfactory, but VU prodded and requested information that I felt was unneccessary. For example, they wanted to know why I had made large payments to a few of my credit cards in the two-three months prior to my buying the house. I also sold some of my furniture along with the old house and the VU wanted to know where the $ came from, so I had to go to my bank and get copies of checks. It was an aggrevation and an inconvenience to say the least.
For one they can make sure that all the paperwork is needed before a loan goes to underwriting. My husband and I had our loan returned from underwriting twice for missing papers that were sent previously. It should be know what is needed and made sure that all the paperwork is there before submitting to underwriting.
