Turn Times

Transaction Type Initial Disclosure UW Condition Review Initial Closing Disclosure Closing Doc. Delivery Earliest Closing Date
Purchase 1 day 5 days 1-2 days 1-2 days 2 days Day after closing docs are delivered
VA IRRRL 1 day 3-4 days 1-2 days 1-2 days 4 days
All other Refi 1 day 15 days 1-2 days 1-2 days 2 days

Last updated October 1, 2020

Due to additional Covid related GSE requirements, allow an additional 2 business days for UW on self-employed.

Please Note:

  • All turn times are in business days, and the day following receipt represents the first day of our stated turn time
  • Request for action / document delivery after 5:00pm ET is considered received the following day
  • Multiple transactions for borrower or other complex qualification may increase UW Turn Times

New Submission and Condition Underwriting Review Notes

  • 5:00pm ET cutoff time
  • Complete file submission via POWER portal initiates timeline
  • New Submission Underwriting Review includes Loan Set Up
  • Multiple files for same borrower or other complex qualification factors may increase underwriting turn times

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

Sunday
Monday

Documents submitted at 4:59pm ET

Tuesday
Day 1

Timeline starts

Wednesday
Day 2

Activity to be complete by EOD

Thursday
Friday
Saturday

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.

Sunday
Monday

Documents submitted at 6:00pm ET

Tuesday
Wednesday
Day 1

Timeline starts

Thursday
Day 2

Activity to be complete by EOD

Friday
Saturday

Closing and Funding Notes

  • 5:00pm ET Doc Order Request cutoff time
  • Doc Order Request via POWER portal initiates timeline
  • 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 5days 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.

Sunday
Monday

Doc Order submitted at 5:01pm ET

Tuesday
Wednesday
Day 1

Timeline starts

Thursday
Day 2

Documents delivered by EOD

Friday
Saturday

Timeline Example 2 - Four 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 Friday. Earliest closing scheduled for Monday.

Sunday
Monday

Doc Order submitted at 4:59pm ET

Tuesday
Day 1

Timeline starts

Wednesday
Day 2
Thursday
Day 3
Friday
Day 4

Documents delivered by EOD

Saturday