I am so nervous! Seller accepted my offer on a home July 2nd, and underwriting with the lender had approved everything and sent files to USDA.
USDA had the file just yesterday, (apparently it's way behind.). My loan officer called today, and said that USDA gave back the packet to their underwriters to "help them with their job". Something about USDA closing for the next two weeks, and they are so far behind already.
He said I should expect a clear to close from their underwriters by tomorrow. I want to know exactly what could go wrong at this point, and what DOES underwriting do? They are reviewing the file, I get that, but what else?
Read more: What exactly do mortgage underwriters do?
