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Wholesale

Turn Times Quoted in Business Days

Task Start time End Time Conv Govt NON- QM Access/Elite/Jumbo/
FHLMC/FNMA
Second Home and Investment*
      Purchase Refi Purchase Refi Purchase Refi
Loan Setup LE/ Initial
Disclosures Out
Doc Check Fail
-or-
Loan Submitted
1 Day(s) 1 Day(s) 1 Day(s) 1 Day(s) 1 Day(s) 1 Day(s)
Underwriting Loan Submitted Approved
-or-
Suspended
3 Day(s) 3 Day(s) 3 Day(s) 3 Day(s) 3 Day(s) 3 Day(s)
Account Management Condition Review Approved
-or-
Suspended
-or-
Denied
-or-
Clear to Close
1 Day (s) 1 Day (s) 1 Day (s) 1 Day (s) 1 Day (s) 1 Day (s)
Underwriting Final Underwriting Approved
-or-
Suspended
-or-
Denied
-or-
Clear to Close
3 Day(s) 3 Day(s) 3 Day(s) 3 Day(s) 3 Day(s) 3 Day(s)
Pre-Doc QC
(Non-QM Only)
Pre-Doc QC
(Non-QM Only)
Approved
-or-
Suspended
-or-
Denied
-or-
Clear to Close
N/A N/A N/A N/A 1 Day(s) 1 Day(s)
Closing Docs Docs Ordered Date Docs Out Date 1 Day(s) 1 Day(s) 1 Day(s) 1 Day(s) 1 Day(s) 1 Day(s)
CD Requests CD Request Date (initial) CD Sent Date 1 Day(s) 1 Day(s) 1 Day(s) 1 Day(s) 1 Day(s) 1 Day(s)

*All Loan Amounts of 2mm or greater require an additional 24 hours for Pre-Doc QC

Updated as of

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Non-Delegated Correspondent

Turn Times Quoted in Business Days

Non-Delegated QM (Business Days) NON- QM
Access/Elite/Jumbo/FHLMC/FNMA
Second Home and Investment*
  Purchase Refi Purchase Refi
Loan Setup 1 Day(s) 1 Day(s) 1 Day(s) 1 Day(s)
Underwriting - Initial Decision 3 Day(s) 3 Day(s) 3 Day(s) 3 Day(s)
Account Management- Condition Review Same Day- 1 Day(s) Same Day- 1 Day(s) Same Day- 1 Day(s) Same Day- 1 Day(s)
Underwriting - Final Decision 3 Day(s) 3 Day(s) 3 Day(s) 3 Day(s)
Pre-Doc QC (Non-QM Only) N/A N/A 1 Day(s) 1 Day(s)
Initial Purchase Review 1 Day(s) 1 Day(s) 1 Day(s) 1 Day(s)
Purchase Review Condition 1 Day(s) 1 Day(s) 1 Day(s) 1 Day(s)

*All Loan Amounts of 2mm or greater require an additional 24 hours for Pre-Doc QC

Updated as of

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Delegated Correspondent

Turn Times Quoted in Business Days

Delegated QM (Business Days) NON- QM
Access/Elite/Jumbo/FHLMC/FNMA
Second Home and Investment*
  Purchase Refi Purchase Refi
Loan Setup 1 Day(s) 1 Day(s) 1 Day(s) 1 Day(s)
Initial Purchase Review 1 Day(s) 1 Day(s) 3 Day(s) 3 Day(s)
Final Purchase Review 1 Day(s) 1 Day(s) 1 Day(s) 1 Day(s)

*All Loan Amounts of 2mm or greater require an additional 24 hours for Pre-Doc QC

Updated as of

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Turn Times


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