TPO SETUP: Indexing and Disclosing: 24 hrs.
TPO PRE UNDERWRITE AND UNDERWRITE: Jr. Uwer review of submission package for minimum required docs 24 hrs. Non Jumbo / QM Initial Conditional Approval from the underwriter once a complete package is received 24 – 48 hrs. Jumbo’s are quoted at 2-3 business days, NON QM 2-3 business days. Symmetry is 1-2 business days for conditional approval and 1 business day for CTC. TBD’s are 48 hrs. URW PTD / Resubmittal review is 24 – 48 hrs.
**For all files put on hold by the Jr. Uwer, turn time for initial approval starts once all requested items are received**
TPO CLOSING: CD, Docs, Funding 24 hrs.
Important dates to note this month:
November 7th 2023 – Last day to fund a Government loan with October docs and December 1st payment date.
November 9th 2023 – Last day to fund a Conventional loan with October docs and December 1st payment date.
November 10th 2023 – URW offices are closed.
November 11th 2023 – Veterans Day, cannot be counted in any wait periods.
November 16th 2023 – Last day to disclose an Owner Occ Refi and still close in November. Purchases and refi’s with no rescission push this out to 11/20.
November 21st 2023 – Last day to sign a CD to start the 3 day wait period on an Owner Occ Refi and still fund this month. Must sign docs by 11/25 as well to fund 11/30.
November 23rd 2023 – Thanksgiving Day, cannot be counted in any wait periods. URW offices are closed.
November 24th 2023 – URW offices are closed.
November 27th 2023 – Last day to sign a CD on a purchase, or refi with no rescission, and still fund this month.
November 30th 2023 – Last day to fund in November. All docs received 11/29 or sooner with rescission up (or none at all) will fund by 11/30 if everyone is ready condition wise. Docs received 11/30 before 10am PST are best efforts for same day funding.