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loan contract signed, underwriter wants to change

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magboo

Junior Member
What is the name of your state?Texas :confused: My mother in law is in the process of buy a house , she has signed the loan papers. Now the underwriter is including more stipulations that need to be meet , after the contract has been signed. Is this legal? Underwriter upset cause the property inspector did not put "as is" on inspection form, so he is now making new requirements to meet the loan on papers that have already been signed.
Been trying to close for 3 weeks!
 


JETX

Senior Member
magboo said:
Now the underwriter is including more stipulations that need to be meet , after the contract has been signed. Is this legal?
Yes, the underwriter can add any requirements that their procedures require. If she doesn't like it, she can certainly take her loan application elsewhere.
 
Last edited:
S

seniorjudge

Guest
JETX said:
Yes, the underwriter can add any requirements that there procedures require. If she doesn't like it, she can certainly take her loan application elsewhere.
Absolutely correct.

Another example of the golden rule: He who has the gold makes the rules.
 

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