What does it mean when a home loan needs management approval?

Our loan has just been approved by the underwriter, but they said that they need management approval before issuing a formal approval. Our loan was suspended for a couple of days because the underwriter asked for letters of explanation about our cosigner. The underwriter has since said that the letters are acceptable and moved on with approving the package. They just said that they need a second signature (from management).

What’s the likelihood that the manager will deny? I would imagine that the underwriter would provide recommendations and that the manager would not fully underwrite the entire file all over again, right?

Tags: Home Loan