Turn Times
| Department | Purchase | Refinance |
| Disclosures / Set Up | 1 Day | 1 Day |
| New Files for UW-Agency | 1 Day | 1 Day |
| New Files for UW-FHA (Full Doc) | 2 Days | 2 Days |
| New Files for UW-VA (Full Doc) | 1 Day | 1 Day |
| New Files for UW-VA IRRRL’s/FHA Streamlines | N/A | 1 Day |
| New Files for Non-QM (Alt Doc, DSCR/Investor) |
3 Days | 3 Days |
| New Files for Community |
3 Days | 3 Days |
| Conditions Review (Once file is reviewed by AM and submitted to UW) |
3 Days | 3 Days |
| Non-QM Conditions Review (Once file is reviewed by AM and submitted to UW) |
3 Days | 3 Days |
| Initial CD Request | 1 Day | 1 Day |
| Docs Out | 2 Days | 2 Days |
Broker Approvals
Application reviews (New): 4 days for review
Application reviews (Renewal): 48 hours for review
Resubmission reviews: 24 hours for review
**Turntimes are subject to change and are not guaranteed**
Set Up
Loans submitted before 3 PM PST (6 PM EST) are considered same day. Loans submitted after 3 PM PST (6 PM EST) will be set up the following business day.
New Submissions
The Turn time starts once the file is placed in submitted status.
The file has been submitted at 2:59 PM PST on Monday. Tuesday represents day one of the stated turn time, Wednesday represents day two. The loan will be out of underwriting by end of business Wednesday.
The file has been submitted at 3:01 PM PST on Monday. This is treated as a Tuesday upload, so Wednesday represents day one of the stated turn time, Thursday represents day two. The loan will be out of underwriting by end of business Thursday.
UW & Funding Conditions Review
Conditions have been uploaded before 3 PM PST, the following business day represents the first day of the stated turn time; loan will be underwritten by end of business on the day indicated by the stated turntime. Condition packages uploaded after 3 PM PST will be treated as though they were uploaded the following business day.
For example, Condition package uploaded at 2:59 PM on Monday. Tuesday represents day one of the stated turn time. The loan will be out of underwriting by end of business Tuesday.
For example, Condition package uploaded at 3:01 PM on Monday. This is treated as a Tuesday upload, so Wednesday represents day one of the stated turn time. The loan will be out of underwriting by end of business Wednesday.
Docs-In Review
The Docs-In Review Turn time is based on the day not the hour of receipt of loan docs.
For example, The Signed Docs are received at 2:59 PM on Monday. Tuesday represents day one of the stated turn time. The docs will be reviewed by end of business Tuesday.
For example, The Signed Docs are received at 3:01 PM on Monday. This is treated as a Tuesday receive, so Wednesday represents day one of the stated turn time. The docs will be reviewed by end of business Wednesday.
Change Wholesale Lock Cutoff time is 6 PM PST & Funding Cutoff time is 12 PM PST
Turn times are estimated on the day’s loan volume.
For additional questions about turn times, please contact your Account Executive.