Processing time

[echoecho]

With mortgage rate at the lowest point and housing value increasing from its low point, many are buying or refinancing their houses. For those that just recently closed or closing and bankers dealing with mortgage, how back up is the industry in processing the increased demand. Pretty this data point will be appreciated by the window shoppers lurking ready to pull the trigger.

[DallasLoanGuy]

depends on the lender.

my processor shoves the file into uw quick and waits for the processing stuff to come in later. this makes the loan condition list longer. but it is how she does it.

my old company had incentives to processors who got approvals with 3 or less loan conditions. so that processor held the file longer before shoving the file into the underwriting queue 

also. hard/weird deals dont make sense if they are underwritten too soon.... so those files dont see uw as soon.

bottom line: it is taking a day or two longer to get processing done. and uw turn times are longer.

regardless, most of us can still close in less than 30 days

[echoecho]

That is good to know Dallas, goes back again to the lender. Just glad to know its not as back up as I assume base on the forum posting. Granted most had certain special issue not you generic mortgage file.