Turn Times
| Department | Purchase | Refinance |
|---|---|---|
| Intake / Pre-UW | 1 Day | 1 Day |
New Files for UW-Agency* | 3-4 Days | 3-4 Days |
New Files for UW-FHA* (Full Doc) | 3-4 Days | 3-4 Days |
New Files for UW-VA* (Full Doc) | 3-4 Days | 3-4 Days |
New Files for UW-VA IRRRL’s / FHA Streamlines* | 3-4 Days | 3-4 Days |
New Files for Non-QM* (Alt Doc, DSCR/Investor) | 3-4 Days | 3-4 Days |
New Files for Home Equity* | 3-4 Days | 3-4 Days |
| Conditions Review (Once file is reviewed by AM and submitted to UW) | 1-2 Days | 1-2 Days |
| Non-QM Conditions Review (Once file is reviewed by AM and submitted to UW) | 1-2 Days | 2-3 Days |
| Home Equity Conditions Review (Once file is reviewed by AM and submitted to UW) | 1-2 Days | 1-2 Days |
| Initial CD Request | 3 Days | 3 Days |
| Docs Out | 2-3 Days | 2-3 Days |
*Setup/Disclosure (when manual disclosure is selected) = 1 day or less
Turn times are subject to change and are not guaranteed
Broker Approvals
- Application Reviews (New): 24 hours
- Application Reviews (Renewal): 24 hours
- Resubmission Reviews: 24 hours
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.
Example: 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.
Example: 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 turn time.
Condition packages uploaded after 3 PM PST will be treated as though they were uploaded the following business day.
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.
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.
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.
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 5 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.
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