Zillow Advice: Mortgage - Help with refer/eligible underwriting recommendation http://www.zillow.com/advice-thread/Help-with-refer-eligible-underwriting-recommendation/515588/ Zillow Advice | Zillow Real Estate If this is the third lender ... http://www.zillow.com/advice-thread/Help-with-refer-eligible-underwriting-recommendation/515588/ If this is the third lender who declined your loan, quite possibly you cannot purchase/refinance at this point in time. There are many reasons why your loan couldn't be manually underwritten. Debt ratios (each lender will have their own, mine is 41% but I've seen higher), lack of reestablished credit/tradelines, lack of reserves, not enough time elapsed since BK, too little residual income, lack of down payment (if purchase), or layered risk comprised of several of these issues or more.&nbsp;<br/><br/>I wish you the best of luck but it may not be in the cards right now. Wed, 05 Feb 2014 18:21:00 GMT http://www.zillow.com/advice-thread/Help-with-refer-eligible-underwriting-recommendation/515588/ 2014-02-05T18:21:00Z Some Lenders will allow a ... http://www.zillow.com/advice-thread/Help-with-refer-eligible-underwriting-recommendation/515588/ Some Lenders will allow a Manual Underwrite with Refer/Eligible findings.&nbsp; Wed, 05 Feb 2014 17:42:00 GMT http://www.zillow.com/advice-thread/Help-with-refer-eligible-underwriting-recommendation/515588/ 2014-02-05T17:42:00Z If your LO spells Freddie ... http://www.zillow.com/advice-thread/Help-with-refer-eligible-underwriting-recommendation/515588/ If your LO spells Freddie Mac with a "k" then you have an LO problem :) Fri, 31 Jan 2014 17:32:00 GMT http://www.zillow.com/advice-thread/Help-with-refer-eligible-underwriting-recommendation/515588/ 2014-01-31T17:32:00Z We can Do A Manual Underwrite ... http://www.zillow.com/advice-thread/Help-with-refer-eligible-underwriting-recommendation/515588/ We can Do A Manual Underwrite at my bank. I just helped somebody close with&nbsp;a Refer/Eligible rating. Other factors will be looked so please contact me for more information about how you can be approved. Thu, 17 Oct 2013 15:16:00 GMT http://www.zillow.com/advice-thread/Help-with-refer-eligible-underwriting-recommendation/515588/ 2013-10-17T15:16:00Z It sounds more like a loan ... http://www.zillow.com/advice-thread/Help-with-refer-eligible-underwriting-recommendation/515588/ It sounds more like a loan officer problem than a loan problem.&nbsp; Did you apply with this loan officer? Thu, 17 Oct 2013 15:05:00 GMT http://www.zillow.com/advice-thread/Help-with-refer-eligible-underwriting-recommendation/515588/ 2013-10-17T15:05:00Z Post a loan request on Zillow ... http://www.zillow.com/advice-thread/Help-with-refer-eligible-underwriting-recommendation/515588/ Post a loan request on Zillow and see what lenders it matches you up with.&nbsp; Thu, 17 Oct 2013 15:02:00 GMT http://www.zillow.com/advice-thread/Help-with-refer-eligible-underwriting-recommendation/515588/ 2013-10-17T15:02:00Z Yes, contact Anthony below. ... http://www.zillow.com/advice-thread/Help-with-refer-eligible-underwriting-recommendation/515588/ Yes, contact Anthony below. &nbsp;We close VA manual underwrites all the time. &nbsp;You do not need an approve eligible to close a purchase loan.<br/><br/>Our bank is licensed in all 50 states and has been open since 1905. Thu, 17 Oct 2013 02:47:00 GMT http://www.zillow.com/advice-thread/Help-with-refer-eligible-underwriting-recommendation/515588/ 2013-10-17T02:47:00Z The first problem that would ... http://www.zillow.com/advice-thread/Help-with-refer-eligible-underwriting-recommendation/515588/ The first problem that would suggest you ditch this guy is that he is telling you that Fannie Mae and Freddie Mac have overlays on a VA loan.&nbsp; They are complete separate entities even though we use their underwriting systems for automated underwriting. Now it is possible that the investor has an overlay. That being said coming out of a BK, everything since has to be very clean. Thu, 17 Oct 2013 01:33:00 GMT http://www.zillow.com/advice-thread/Help-with-refer-eligible-underwriting-recommendation/515588/ 2013-10-17T01:33:00Z Did your loan officer tell ... http://www.zillow.com/advice-thread/Help-with-refer-eligible-underwriting-recommendation/515588/ Did your loan officer tell you a reason why she was getting a "refer"? Knowing that answer will tell me a lot. But even with that, my company will do refers and the rates are still competitive! Thu, 17 Oct 2013 00:32:00 GMT http://www.zillow.com/advice-thread/Help-with-refer-eligible-underwriting-recommendation/515588/ 2013-10-17T00:32:00Z There could be several reasons ... http://www.zillow.com/advice-thread/Help-with-refer-eligible-underwriting-recommendation/515588/ There could be several reasons why you are getting a "refer" response, and if it is do to late payments within the most recent two years, or you have collections, charge offs, judgments and public records, regardless of time frame and inquiries within the most recent 90 days will require a credit explanation letter at time of underwriting submission.&nbsp; <br/><br/>You could also receive a "refer" response if you have insufficient credit, not enough trade lines on your credit report.&nbsp; <br/><br/>Have you re-established credit since your chapter 13? Thu, 17 Oct 2013 00:24:00 GMT http://www.zillow.com/advice-thread/Help-with-refer-eligible-underwriting-recommendation/515588/ 2013-10-17T00:24:00Z