Hello, I've submitted a application for home loan thru my mortgage broker on the 16th. i haven't heard anyEnter your question here

It really depends on whether your purchasing a home or refinancing.. If your purchasing, you should be asking for a detailed explanation as to why it's taking so long.. You should be freaking out.. If your refinancing, especially HARP refinance, then yes.. There are lenders out there taking 3 to 4 months to get them closed...so it's not unusually to not hear anything in 3 weeks.. But call your broker and ask for the dates.. When was it sent to the lender? When did it hit the underwriter's desk? What is this lender current turn times? etc.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

A sure fire way to have you loan declined is to start harassing the bank that is underwriting your file, so I don't recommend it. This is a classic reason why you should look to a Mortgage Banker and not a Mortgage Broker. A Mortgage Broker sends the file to the lender for underwriting approval and your file gets in line behind the hundreds of files submitted by your broker and all of his competitors too. A Mortgage Banker actually underwrites the file in house and the underwriters do not look at files from their competitors. We have 24 hour underwriting. That said, there are several reasons why it could be taking so long. HARP loans are notoriously long in underwriting. If you are a solid borrower and this is a purchase, then you need a better explanation from your broker. If you are a refinance, many banks put purchases ahead of refinances because a purchase has an absolute close of escrow date, and a refinance does not. The part that bothers me is that it appears that your broker does not know why it is taking so long or is not willingly sharing that information with you. My advice would be to contact the Manager of the Brokerage for more specific details. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ Licensed in California and Arizona ~ NMLS 40586 ~ www.LoansA2z.com ~ 888-889-9950

WOW!! Unfortuneately the number 1 complaint of loan officers is that they don't communicate with their borrowers and sounds like you are a product of that complaint. Call him/her and leave a message and if you don't hear back by Monday move on to another lender. I am sure there are plenty of Loan officers on this website that would be more than willing to help you.

Depending on the company this may not be surprising but they should be able to at least update you on where the loan is in their process. Many lenders are taking over 30 days especially with the holidays. You might not hear much until close to the end of the process. FYI - we're currently closing loans in 30-45 days but all my customers know what to expect at the time they apply.