loanDepot Wholesale Turn Times - West Coast

Loan Setup Purchase / Refinance
New Submissions In by 12PM Pacific, reviewed same day
On Hold / Trailing Items 2 Hours / In by 3PM Pacific, reviewed same day

Underwriting - New Submissions Purchase Refinance
Conforming 1 Day 1 Day
FHA Full Doc 1 Day 1 Day
VA Full Doc 1 Day 1 Day
FHA Streamline* N/A 1 Day
VA IRRRL** N/A 1 Day
Renovation 2 Days 2 Days
Jumbo/Non-Agency Products 2 Days 2 Days
Purchase Advantage (TBD) 1 Day N/A
Equity Access 2nd 1 Day 1 Day
5+ Properties on Schedule REO 1 Day 1 Day
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 - Jumbo Advantage 1 Day 1 Day
Submitted for Final Approval - 40 Year I/O 4 Days 4 Days
Submitted for Appraisal Only/Partial Condition - Agency 1 Day 1 Day
Submitted for Appraisal Only/Partial Condition - Jumbo Advantage 1 Day 1 Day
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 1 Day
Renovation Reviews (Renovation Desk) 1 Day 1 Day
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 Next business day from requested date Next business day from requested date
CD Sent Same day if fees approved prior to 12:00PM Pacific Fees approved after 12:00PM Pacific - next business day
CD Express Next business day from requested date Next business day from requested date

Closing - Doc Order Purchase / Refinance
Docs All Rescission and Dry Non-Rescission request out 24 Hours prior to the Closing date/time
  Wet and Non-Rescission Doc request must be in 2 business days prior to the Closing date**
      **Docs out day before the Closing date
      **Wire out day before the Closing date
Wet: Closing can occur 48 Hours after: CD eConsent, Final Approval, and Closing Confirmation received

Funding Review Non-Rescission Rescission
Funding Review - Dry State Docs uploaded by 9AM Pacific, reviewed same day 1 business day after receipt
Funding Review - Wet State N/A 1 business day after receipt

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