loanDepot Wholesale Turn Times - East / Central Time

Loan Setup Purchase Refinance
New Submissions- Portal LE 24 Hours 24 Hours
New Submissions- Broker LE 24 Hours 24 Hours
Re-Applications 24 Hours 24 Hours
On Hold/Trailing Items 24 Hours 48 Hours
Loan Setup cutoff is 11AM PST (2pm EST). Any submissions after 11AM PST (2PM EST) will be counted as submitted next business day for SLA purposes.

Underwriting - New Submissions Purchase Refinance
Conforming 1 Day 2 Days
FHA Full Doc 1 Day 2 Days
VA Full Doc 1 Day 2 Days
FHA Streamline* N/A 2 Days
VA IRRRL** N/A 2 Days
FHA 203k 3 Days 3 Days

Jumbo/Non-agency Products

4 Days 4 Days

Purchase Advantage (TBD)

3 Days N/A

Equity Access 2nd

2 Days 2 Days
5+ Properties on Schedule REO 2 Days 2 Days
Multiple Loans for 1 Borrower 2 Days 2 Days
*VA IRRRL & FHA Streamline loans submitted as credit qualifying will be subject to Full Doc turn times.
**VA Full Doc and VA IRRRL loans submitted with loan amounts greater than $1 million may require up to 72 hours additional review time.

Underwriting - Condition Reviews Purchase Refinance
Submitted for Final Approval - Agency 1 Day 1 Day
Submitted for Final Approval - non-Agency 4 Days 4 Days
Submitted for Appraisal Only/Partial Condition - Agency 1 Day 1 Day
Submitted for Appraisal Only/Partial Condition - non-Agency 4 Days 4 Days
Condo Reviews (Condo Desk) 1 Day 1 Day
Escalation Reviews 1 Day 1 Day
Renovation Reviews 2 Days 2 Days
Underwriting cutoff is 3PM local time zone. Any submissions after 3PM local time zone will be counted as submitted next business day for SLA purposes. Underwriting turn times are displayed as the date of files we are currently working on (business days only) and are intended to be a general indicator or estimate of the time it will take to issue an initial decision or review loan conditions. The actual turn times may vary depending on the complexity of the loan. Turn times are subject to change at any time.

Account Manager Purchase Refinance
Condition Review - Refinance only* 1 Day 1 Day
Final Approval Review - Refinance only* 1 Day 1 Day
*All purchase transactions are treated as Express Conditions which are automatically submitted to the Underwriter when ready for review in the Broker portal. Refinance conditions are pre-reviewed by your assigned Account Manager prior to submission to Underwriting.

Closing - CD's Purchase Refinance
Draft CD's from time sent to Closing Coordinator 24 hours if received prior to 3:00pm CST 48 hours if received prior to 3:00pm CST
Issuance of initial CD (from Fees accepted) Same day if received prior to 3:00pm CST Same day if received prior to 3:00pm CST

Closing - DOC Orders Purchase Refinance
Doc Request after Final approval Closing can occur 48 hours after CD eConsent, Final Approval and Closing Confirmation received Closing can occur 48 hours after CD eConsent, Final Approval and Closing Confirmation received

Funding Reviews Purchase Refinance
Funding Review - Purchase - Dry 1 hour if received prior to 3:00pm CST N/A
Funding Review - Purchase - Wet State 20 Minutes N/A
Funding Review - Refi w/ NORTC - Wet and Dry States N/A 24 hours from time of receipt. Please send day after borrower signs

Wire Cutoff Purchase Refinance
Wire Cutoff 3:00pm CST 3:00pm CST
Wire Cutoff - Jumbo and 40 Year I/O 1:00pm CST 1:00pm CST

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