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Turn Time

07/26/2017 Purchase Refinance
Submission
Registered before 3 pm pst same day same day
Registered after 3 pm pst 24 hours 24 hours
Underwriting
Agency 24 to 48 hours 24 to 48 hours
FHA 24 to 48 hours 24 to 48 hours
Jumbo (Initial Review) 24 to 48 hours 24 to 48 hours
Portfolio (Initial Review) 24 to 48 hours 24 to 48 hours
UW Conditions Review
24 to 48 hours 24 to 48 hours
Loan Doc
24 hours 24 hours
Docs Review
24 hours 24 hours
Funding Conditions
24 hours 24 hours
Turn time is based on date of last upload

Set Up

Loans submitted before 3 PM PST (6 PM EST) are considered same day. Loans submitted after 3 PM PST (6 PM EST) will be set up the following business day.

New Submissions

The Turn time starts once the file is placed in submitted status.

The file has been submitted at 2:59 PM PST on Monday. Tuesday represents day one of the stated turn time, Wednesday represents day two. The loan will be out of underwriting by end of business Wednesday.

The file has been submitted at 3:01 PM PST on Monday. This is treated as a Tuesday upload, so Wednesday represents day one of the stated turn time, Thursday represents day two. The loan will be out of underwriting by end of business Thursday.

UW & Funding Conditions Review

Conditions have been uploaded before 3 PM PST, the following business day represents the first day of the stated turn time; loan will be underwritten by end of business on the day indicated by the stated turn time. Condition packages uploaded after 3 PM PST will be treated as though they were uploaded the following business day.

For example, Condition package uploaded at 2:59 PM on Monday. Tuesday represents day one of the stated turn time. The loan will be out of underwriting by end of business Tuesday.

For example, Condition package uploaded at 3:01 PM on Monday. This is treated as a Tuesday upload, so Wednesday represents day one of the stated turn time. The loan will be out of underwriting by end of business Wednesday.

Docs-In Review

The Docs-In Review Turn time is based on the day not the hour of receipt of loan docs.

For example, The Signed Docs are received at 2:59 PM on Monday. Tuesday represents day one of the stated turn time. The docs will be reviewed by end of business Tuesday.

For example, The Signed Docs are received at 3:01 PM on Monday. This is treated as a Tuesday receive, so Wednesday represents day one of the stated turn time. The docs will be reviewed by end of business Wednesday.

NMSI Inc.'s Lock Cutoff time is 4 PM PST & Funding Cutoff time is 12 PM PST

Turn times are estimated on the day’s loan volume.

For additional questions about turn times, please contact your Account Executive.