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- You complete your initial data submission here (15 minutes.)
- You gather & fax your supporting financial documentation to us Checklist Here (20 minutes.)
- Within 72 hours of receipt of steps #1 and #2 above, we will issue your preliminary application,
- You print, review, sign all pages, and fax back, or scan & securely upload online (15-30 minutes.)
- Statutes now require 72 hours to pass from your signatures until your appraisal may be ordered,
- Upon appraisal order, its delivery typically takes 3-10 days,
- Upon 24 hours of appraisal receipt, your final loan package is released to underwriting review,
- Underwriting turntimes to issue conditional approval run from 48 hours to as long as 2 weeks, depending on market demand,
- Conditions for approval are then addresses (from 15 minutes, to days/weeks depending on the requirements that need to be addressed, and the speed of required service providers,)
- Once all required conditions have been addressed, a re-submission to underwriting is made, and typically results in another 24-48 hours for their review,)
- If they find any reason to add additional conditions, we repeat steps #9 and #10, until underwriting is satisfied and issues a "Clear To Close,"
- Closing documents and funds are then authorized and ordered from legal departments (24-48 hours,)
- Upon the Closing Agent's (Escrow Agent's) receipt of the lender's closing package, a preliminary HUD1 Settlement Statement is prepared and issued to us for review (1 hour to 24 hours,)
- After any HUD1 corrections, the Closing Agent will contact the borrower's to schedule their signing ceremony.
- Depending on the state, a purchase signing will clear funds as quickly as immediately at signing, or as late as 24 hours later.
- ALL primary residence refinance signings will clear funds after 3 full banking business and Saturday days have passed.
- ALL investment refinance signings, depending on the state, will clear funds as quickly as immediately at signing, or as late as 24 hours later.
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