Turn Times
| Transaction Type | Initial Disclosure | Loan Set Up and UW | Condition Review | Initial CD (Unbalanced) | Initial CD (Balanced)* | Closing Documents* |
|---|---|---|---|---|---|---|
| Purchase/Priority Path Refinance | 0-1 days | 1-2 days | 0-1 days | 0-1 days | 1 day | 1 day |
| Refinance | 0-1 days | 2-3 days | 0-1 days | 0-1 days | 1 day | 1 day |
| *Contigent on Settlement Agent and Broker approving final fees | Last updated November 21, 2023 | |||||
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
New Submission Underwriting Review
- Jumbo loans, multiple files for same borrower or other complex qualification factors may increase underwriting turn times
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
- Signing appointments inside stated turn times should remain flexible
- Purchase wires are released the day prior to disbursement date (when possible)
- Refinance wires are released the day of disbursement. Executed docs must be received by 2PM ET for same day wire.
Timeline Example
Doc Order Request received Monday at 1:00 PM ET. Closing docs delivered by EOD Tuesday provided settlement agent has engaged and fully collaborated.
| Sunday | Monday | Tuesday | Wednesday | Thursday | Friday | Saturday |
|---|---|---|---|---|---|---|
| Doc Order submitted at 1:00 PM ET | DAY 1 Documents delivered by EOD | |||||