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WHEN TO APPLY ONLINE? (TIME OF DAY) DOES IT MATTER?

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Moderator

Re: WHEN TO APPLY ONLINE? (TIME OF DAY) DOES IT MATTER?

OP, just to add to the above comments by @odd_dog, no lender will make a determination on your SL based on the time of day when you apply.

So, using BoA as an example, whether you apply at 3:30am, 12noon or 5:00pm will make no difference. Since some automation exists by most FIs when processing applications, none are going to tell you (if approved)... "Well Mr MarkyMark if you *had* waited until 9:00am, your SL would've been a lot higher than when you submitted the application at 1:00am."

Given certain application processing pipelines, some applications may go through a series of steps for review in the event that it could not yield an instant approval. Things like system maintenance/constraints, CR unavailability, fraud detection flags, additional verification, secondary CRs, judgemental UW review, a combination of all or many other steps, etc.

Algorithms can change or be adjusted periodically by a variety of lenders, but they're certainly not going to tell you that in advance. So, potentially something *could* change on any given day, but you wouldn't know otherwise.
Message 21 of 28
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Regular Contributor

Re: WHEN TO APPLY ONLINE? (TIME OF DAY) DOES IT MATTER?

If it goes to manual review there is also the human factor. I believe these is some personal decision-making involved by the officer. This little push of kindness might be deciding factor if the algorithm is on the fence about yaying or naying your app.

If it's early Monday morning they might not be as kind or in good mood compared to a Friday afternoon. Personally i try to move calls to later in the week but this is just a personal observation.
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Message 22 of 28
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Moderator

Re: WHEN TO APPLY ONLINE? (TIME OF DAY) DOES IT MATTER?

While the human element can play *some* influence with an overall decision, basing it off the "early" Monday vs say later in the day or a Friday isn't really a good indicator.

It's almost like saying don't buy a car manufactured off the assembly line on an early Monday vs a Friday. There are still internal controls that UWs have to abide, but in some cases depending on their lending division, some UWs may have more leeway in making sound judgment decisions to override a denial depending on the situation.

That being said, that same UW may have weighed all the available information to approve Jane Doe's application, but it doesn't mean she'll rubber stamp the same outcome for all the others.
Message 23 of 28
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Regular Contributor

Re: WHEN TO APPLY ONLINE? (TIME OF DAY) DOES IT MATTER?

lol....I wish it would say "You're getting a HUGE SL since you called between 9am to 5pm".... Oh, that was a good laugh. Also, thanks so much!!! YOu explained a WHOLE lot to me. So, in a nutshell, it does matter what day or time you apply. It won't affect if you are approvced, denied, or whatyour SL would be. So, THANK YOU!!!!! 

 

M

Message 24 of 28
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Regular Contributor

Re: WHEN TO APPLY ONLINE? (TIME OF DAY) DOES IT MATTER?

OMG.............So true!! Monday morning does stink. Makes sense. Thank you!

 

M

Message 25 of 28
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Established Contributor

Re: WHEN TO APPLY ONLINE? (TIME OF DAY) DOES IT MATTER?

Hopefully the Funky Bunch will get a Good Vibration.  Then we can feel it, feel it.

 

Most of my apps were after midnight with a little liquid courage.

Message 26 of 28
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Regular Contributor

Re: WHEN TO APPLY ONLINE? (TIME OF DAY) DOES IT MATTER?

"It's just a sweeeet sensatiooooon" LoL

Message 27 of 28
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Community Leader
Senior Contributor

Re: WHEN TO APPLY ONLINE? (TIME OF DAY) DOES IT MATTER?

For me Discover CLI requests were best done during M-F ... more toward the beginning of the week because if it wasn’t instant and a 2 day message, it usually wasn’t approved until wed up to Friday the next week
Message 28 of 28
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