Turn Times
| Transaction Type | Initial Disclosure | Loan Set Up and UW* | Condition Review | Initial CD (Unbalanced) | Initial CD (Balanced)** | Closing Documents** |
|---|---|---|---|---|---|---|
| Purchase | 0-1 days | 2 days | 1 day | 0-1 days | 1-2 days | 2 days |
| Refinance | 0-1 days | 3 days | 1 day | 0-1 days | 1-2 days | 2 days |
| *Jumbo Loans, Multiple Files for borrower or other complex qualification factors will increase underwriting turn times **Contingent on Broker and Settlement Agent approving final fees | ||||||
General Notes
- Requests received after 5 PM ET are considered received the following business day
- The business day following receipt represents the first day of stated turn time
Closing / Funding
- Closer will be assigned and settlement agent contacted within one business day of Closing Document Request
- Closing Doc. completion and delivery are dependent on Broker and Settlement Agent engagement and approval of final fees
- Closing at earliest turn time should remain flexible for late in the day signing.
- Purchase wires are released the day prior to disbursement date (when possible)
- Refinance wires are sent on the day of disbursement or business day prior, when possible. The executed document package must be received from the settlement agent within 24 hours of closing to avoid potential funding delays.