Turn Time
| 12/02/2024 | Purchase | Refinance |
|---|---|---|
Submission |
||
| Registered before 3 pm pst | same day | same day |
| Registered after 3 pm pst | 24 hours | 24 hours |
Underwriting |
||
| Agency | 24 hours | 24 hours |
| FHA | 24 hours | 24 hours |
| KVOE | 24 hours | 24 hours |
| Jumbo Prime | 24 hours | 24 hours |
| HELOC (Initial Review) | 24 hours | 24 hours |
| Multiple REO file | 24 hours | 24 hours |
| Non-QM | 24 hours | 24 hours |
UW Conditions Review |
24 hours | 24 hours |
Loan Doc |
24-48 hours hours | 24-48 hours hours |
Docs Review |
24-48 hours hours | 24-48 hours hours |
Funding Conditions |
24 hours | 24 hours |
| Turn times are based on lock date & 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 6 PM PST for Conventional / FHA / Non-QM & 3 PM PST for JUMBO and 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.