Had to send individual copies of our personal info throughout the process to the different departments involved in our loan application. Could this have been handled more efficiently within the company with our original application? This was very time consuming and copies of the original app. should have been distributed from within the company. Secondly, the required info regarding my DD-214 was poorly handled. My info was sent to the wrong address for authorization which held up the loan process. I had to individually do the leg work to assure that my info was sent to the correct location. This was more frustrating than any home loan that we had previously applied for over the years. On the positive side of the process all of the employees of Vet's United were cordial.
I'm unable to find a single thought where I could say improvement is necessary.
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Help the customer understand more about whats actually going and why this process is going the way that it is. Have the loan officers and underwriters have a better understanding on military documents, train them on understanding so that there not so much confusion. military documents are not complex just as yours are not, but with a better understand of these documents the process of buying a home would be quicker. Also more efficient for you guys and for the soldier. Really only one last thing, Soldiers breath by order that they are given. You can ask or you can tell them what to do. soldiers live by orders and communications. If these two very simple tasks are not completed daily the soldier gets bored and try's to find something else do to besides the mission at hand. Tell your Veterans what to do so they don't get distracted by something bright in the corner!!! This whole process I was just waiting for the next thing to come along and get it done. Most soldiers will get off there ass and get it done right then and there. Our job as veterans buying a home is very simple, get the paperwork!!! this process would have been alot smoother if there was more proper communication in the beginning. My loan officer was outstanding by the way if I had a question he was there to answer it, I could have ask for some one better. thank you very much for this experience I hope this helps you better provide for Veterans!
The process was a little slow.
A detailed explanation of the interest rate process, appraisal process, etc... You should provide a timeline with the range of dates that things should happen. This way the consumer would be less confused about the process.
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I realize adequate documentation is important and necessary. There were perhaps one or two instances during my process that documentation required appeared redundant and perhaps excessive. The two examples I will offer reflect my thoughts.1. I was asked to submit a written statement explaining why I was moving from a 500,000 house to a 200,000 house in the same town. I explained that our children were grown and we wished to down size.Following that submission, I received another request to provide a written statement Explaining g what I intended to do with our existing property! I think that was over the top ... Do I qualify for the loan or not! A second issue that I found puzzling was when asked to transfer a specific amount of savings to checking to pay closing costs. I sent a copy of the check and a deposit slip reflecting the change. Not good enough! Had to send bank print outs of both the account showing the money coming out and another showing the money deposited in checking! Really! If I can't pay closing costs the deal won't go through. Everyone knows that so why would I not transfer the funds. I have a good credit score with a long history. I have enough cash to pretty much cover the funds I am borrowing without considering three other properties that are mortgage free. I think that may have been the capstone of my irritation. I essentially had a net worth more than five times what I was borrowing and underwriters seemed to totally ignore that while focusing on seemingly redundant paper.Beyond this rant, please understand that I wanted this loan and appreciate the need for careful lending practices. Further, my loan officer excelled in courtesy and professionalism.
