What the Pipeline Status Update actually produces

Subject: Great News – Conditional Approval on Your Loan! --- Dear Marcus and Leila, Great news! Your loan application has received a CONDITIONAL APPROVAL from our underwriting team. We're excited to move forward with your mortgage, pending a few outstanding items. HERE'S WHERE YOU STAND: Your file has been thoroughly reviewed, and the underwriter is satisfied with your credit profile, income, and debt-to-income ratio (38% — well within our guidelines). The appraisal of 47 Crestwood Lane came back at $485,000, which fully supports your purchase price. Your credit score of 742 is strong. All signs point to a smooth closing — we just need a few final documents from you. WHAT WE NEED FROM YOU (DUE BY FRIDAY, JUNE 13TH): Please submit the following three items to avoid any delays to your June 27th closing: 1. 2024 Federal Tax Returns • Both must be signed and dated • If you filed jointly, both spouses should sign • If amended returns were filed, include those as well (marked as "amended") • Submit as PDF or hard copy to: [submission method — email/portal/office] 2. Letter of Explanation for the $4,200 Deposit • Our underwriter noted a $4,200 deposit on your April bank statement • Simply write a brief letter explaining the source of these funds (e.g., bonus, gift from family member, transfer from another account, etc.) • If it's a gift, we'll also need a gift letter from the gift-giver stating they have no repayment expectations • Keep it simple — 2–3 sentences is fine 3. Homeowners Insurance Proof • Contact your insurance agent and request a homeowners insurance binder • Confirm that our lender is listed as the mortgagee on the policy • Submit the binder to us via email or portal • If you haven't selected an agent, we can provide recommendations TIMELINE & NEXT STEPS: Once we receive these documents by June 13th, here's what happens: 1. We submit your file back to underwriting for final review (typically 2–3 business days) 2. The underwriter issues a "Clear to Close" decision 3. We coordinate with the title company and send you final loan documents to review and sign 4. We schedule your closing appointment (typically 2–3 days before the June 27th closing date) 5. You close on your new home! WHAT THIS MEANS FOR YOUR CLOSING: Your June 27th closing date is on track. As long as documents arrive by June 13th, we have ample time for final underwriting and document preparation. If you submit documents earlier, even better — we can move even faster. IMPORTANT REMINDERS: — Do NOT make any large purchases (car, credit cards, etc.) between now and closing — Do NOT apply for new credit or refinance any debts — Do NOT change jobs or leave your current employment — Do NOT make any significant deposits without informing us (large deposits may trigger additional verification questions) — Keep your credit score stable by paying all bills on time If any of these situations apply to you, please let me know immediately — it may affect your closing timeline. IF YOU HAVE QUESTIONS: Don't hesitate to reach out. You can: — Reply directly to this email — Call me at [PHONE] — Submit documents via [ONLINE PORTAL/EMAIL] — Schedule a call: [SCHEDULING LINK] We're here to help and want to make sure your closing goes smoothly. Congratulations on the conditional approval — you're on the home stretch! Best regards, [LOAN OFFICER NAME] [LOAN OFFICER TITLE] [LENDER NAME] [PHONE] [EMAIL] [OFFICE ADDRESS] --- P.S. Once you submit the three documents, keep an eye on your email for updates. We'll confirm receipt and keep you posted every step of the way.

Great News – Conditional Approval on Your Loan! (Action Needed by June 13th)