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Underwriter has my loan on suspension

I have been going back and forth with my lender trying to get everything right for the underwriter! I was pre-approved by the lender! The underwriters had an issue with how my company change owners and name! Stated that it was a break in employment and I didn't have 2+ years of continuous employment with the same company! That was taken care of with a few letters from my self and my employer also with a voes! The underwriter was happy with that! They continued with the processing, I get a phone call back from the lender telling me that my loan is on suspension because I left my position as a full time employee and went part time in 2016 for 4 months to take a better job oppertunity at a manufacturing company! Well I found out that the manufacturing life was not for me that I was better fitted for my previous job! I was then given my full time position back with my previous job! Lender stated that the underwriter is concerned with my salary because it was less one year then the year before! What can I do? Does this sound like something that can happen and why is it happening? I have had a job since I was 18 with no break in employment! by Rbmedley341 from , California. Jan 21st 2017 Reply


I would suggest you get a letter from your employer stating you are full-time and what amount of GUARANTEED hours per week you will receive.

Jan 21st 2017
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Mike and Jill Kohler (LenderMike)
#32 ranked lender in Pennsylvania - 56 contributions

I would think that you should get a letter from your employer stating the reason for the move and the reduction in pay. I would also have your employer state that your probability for continuted employment is great. That should help the underwriters concern about why the reduction in pay and that you have a pretty secure job at this point.

Jan 22nd 2017
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paul kohan (paulk26)
#1140 ranked lender in California - 1 contribution

please call me at the office and i will guide with that. 213-235-4266.Thanks

Jan 22nd 2017
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Larry Gray (lgray_312_247)
#565 ranked lender in California - 1,127 contributions

Did you finally get this resolved ok? I had clients from Sacramento going back to 2003...the Medleys! I was pretty busy and unable to answer questions the day you asked yours! The letter is good and providing assurance that your current salary and hours will definitely continue. If your loan officer assures you that you were properly qualified at the salary you have now, then you need to go to that person and demand they make this work. We can often make set hourly earnings guaranteed for 40 hours a week work even if only getting it for a few months.

Jan 27th 2017
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