Turn Times

Transaction Type	Initial Disclosure	Loan Set Up	Underwriting	Condition Review	Initial Closing Disclosure	Closing Doc. Delivery	Earliest Closing Date
Purchase	1 day	1 day	1 day	1 day	1-2 days	2 days	Day after closing docs are delivered
Priority Path W2Conventional loans (W2 only) priced with Priority Path are eligible	1 day	1 day	1 day	1 day	1-2 days	2 days
Refinance	1 day	1 day	2 days	1 day	1-2 days	2 days

Last updated January 18, 2023

New Submission and Condition Underwriting Review Notes

• 5:00pm ET cutoff time
• Timeline is initiated by complete file submission in POWER+
• Optima Jumbo, multiple files for same borrower, or other complex qualification factors may increase underwriting turn times by 1-2 days

Timeline Example 1 - Two day turn time
Document(s) received Monday by 4:59pm ET. Tuesday represents day one of stated turn time. Activity will be complete by end of Wednesday.

Timeline Example 2 - Two day turn time
Document(s) received Monday at 6:00pm ET (after cutoff) so treated as received on Tuesday. Wednesday represents day one of stated turn time. Activity will be complete by end of Thursday.

Closing and Funding Notes

• 5:00pm ET Doc Order Request cutoff time
• Timeline is initiated by Doc Order Request in POWER+
• Purchase wires released the day prior to disbursement date
• Refinance wires are released the day of disbursement. Closing docs must be received by 2:00pm ET for same day wire.
• Closing documents will not be delivered more than 5 days prior to the closing date.

Timeline Example 1 - Two day turn time
Doc Order Request received Monday at 5:01pm ET (after cutoff) so treated as received on Tuesday. Wednesday represents day one of stated turn time. Documents will be delivered by end of day Thursday. Earliest closing scheduled for Friday.

Timeline Example 2 - Two day turn time
Doc Order Request received Monday at 4:59pm ET. Tuesday represents day one of stated turn time. Documents will be delivered by end of day Wednesday. Earliest closing scheduled for Thursday.