Turn Times

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lukyk22

1700 Posts

Posted - 01/30/2008 : 12:26:39 PM

Hey All,
Just wanted to get a quick survey, if you have a minute your input is greatly appreciated.

Wanted to get a feel for turn times in California for your A paper lenders, again any input is greatly appreciated. (INDY, FLAG, CHASE, PROVIDENT, SIERRA, UBOC, ETC.)

TURN TIMES FOR U/W, DOCS FUNDING.

thanks in advance

racerx

11434 Posts

Posted - 01/30/2008 : 12:29:27 PM

Here are Flagstar's:

Underwriting New Submissions
Check & Close: 1 day
Loans < or = 80 LTV: 2 days
Loans > 80 LTV: 2 days
Government Purchase: 5 days
Government Refi: 5 days
High Alt-A: 1 day
Underwriting Conditions
Cond. < or = 80 LTV: 1 day
Cond. > 80 LTV: 1 day
Government Cond.: 3 days
CAD Purchase: 3.69 days

lukyk22

1700 Posts

Posted - 01/30/2008 : 12:46:58 PM

thanks jenn

bbbbenny

231 Posts

Posted - 01/30/2008 : 12:58:50 PM

Indy's at 2 days u/w and 1-2 for conditions, docs and funding...per the rep. We'll see what actually plays out on my file.

tt281gt

195 Posts

Posted - 01/30/2008 : 6:36:19 PM

PMC Bancorp

Approvals:
Purcahse = 24 hours
Refi = 24-48 hours

Docs: All conditions are reviewed the same day they are sent in if received by 11:00 AM. If you have all your PTD's done on the first round of conditions you can get docs the next day.

Funding: No same day funding when docs are back, if all PTF conditions are received before 11:00 AM your wire will be sent out.

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