Mortgage Audit?

iSolaced

Hi there!

FTB here. Everything seemed to be going smoothly with my purchase, valuation was done both independently and via the lender. I was due to hear back last week on Sept 1st. 

The broker informed me that the application was pulled out for auditing and we should hear back in 5 days. It’s been close to 10 now and unsure what is that status, as it seems there’s no timeline on auditing.

Has anyone gone through this or have any idea of what I can do? It’s starting to worry me.

ACG

There is no real time for auditing. I dont think brokers know what goes on in auditing (I include myself in that). Obviously they check things in more detail, but they have the ability to liaise with other companies, government agencies and so on. 

It will take as long as it takes and it will depend on what their concerns are. 

Over the years, I have had maybe 4-5 cases go for audit. They all went ahead. 

iSolaced

Thank you! I think I’m nervous as it’s holding up everything at the moment, but suppose nothing to hide. We were supposed to hear back late last week but the Broker still hasn’t heard back yet.

TheMonsterMunch

Hey there, did you get an outcome with this?