loanDepot Wholesale Turn Times - West Coast

Loan Setup Purchase Refinance
New Submissions- Portal LE In by 11am PST, 24 Hours in by 11am PST, 24 Hours
New Submissions- Broker LE In by 11am PST, 24 Hours In by 11am PST, 24 Hours
Re-Applications 24 Hours 24 Hours
On Hold/Trailing Items 24 Hours 24 - 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 1 Day
FHA 203k 2 Days 2 Days
Jumbo/Non-agency Products 4 Days 4 Days
Purchase Advantage (TBD) 3 Days N/A
Equity Access 2nd 2 Days 3 Days
5+ Properties on Schedule REO 2 Days 3 Days
Multiple Loans for 1 Borrower 2 Days 3 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 - Jumbo Advantage 2 Days 2 Days
Submitted for Final Approval - 40 Year I/O 4 Days 4 Days
Submitted for Appraisal Only/Partial Condition - Agency 2 Days 2 Days
Submitted for Appraisal Only/Partial Condition - Jumbo Advantage 2 Days 2 Days
Submitted for Appraisal Only/Partial Condition - 40 Year I/O 4 Days 4 Days
Condo Reviews (Condo Desk) 2 Days 2 Days
Escalation Reviews 1 Day 2 Days
Renovation Reviews (Renovation Desk) 3 Days 3 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.

Closing - CD's Purchase Refinance
Draft CD's from time sent to Closing Coordinator

24 Hours from time sent
to Closing Coordinator if
received prior to 3pm PST

24 Hours from time sent
to Closing Coordinator if
received prior to 3pm PST
Issuance of initial CD (from Fees accepted) 24 hours if received prior
to 3:00pm PST
24 hours if received prior
to 3:00pm PST

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 24 Hours N/A
Funding Review - Purchase - Wet State 20 Minutes N/A
Funding Review - Refi w/NORTC - Wet and Dry States N/A Dry: 48 hours; Wet w/NORTC: 24 hours; send when borrower signs

Wire Cutoff Purchase Refinance
Wire Cutoff 2:00pm PST 2:00pm PST
Wire Cutoff - Jumbo and 40 Year I/O 1:00pm PST 1:00pm PST

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