WHOLESALE TURN TIMES
UPDATED
Turn times are intended to be an estimate of when work will be completed based on daily volume and are subject to change. Please contact your Account Executive or Account Manager with any questions.
| SUBMISSIONS & DISCLOSURES | ||
|---|---|---|
| TYPE | PURCHASE | REFINANCE |
| Submission | Same Day | Same Day |
| Closing Disclosure (Prior to Clear-to-Close) | 1 Business Day | 1-2 Business Days |
| Closing Disclosure (Clear-to-Close) | 1 Business Day | 1 Business Day |
For Submission Requests, same day turn times apply to requests made before 3:00 PM PT
For loans in Central and Eastern Time Zones, the cut off for Closing Disclosure Requests is 2:00 PM PT
For loans in Mountain and Pacific Time Zones, the cut off for Closing Disclosure Requests is 3:00 PM PT
Requests made after the cut-off time will be considered received the following Business Day
| UNDERWRITING: PURCHASE | ||
|---|---|---|
| LOAN TYPE | INITIAL DECISION | CONDITION REVIEW |
| Conforming | 1 Business Day | 1 Business Day |
| FHA | 1-2 Business Days | 2 Business Days |
| VA | 1-2 Business Days | 2 Business Days |
| USDA | 2 Business Days | 2 Business Days |
| Conforming CRA | 3 Business Days | 2 Business Days |
| JumboPlus / Manhattan / Malibu Plus / Monterey | 2 Business Days | 2 Business Days |
| Balboa / Venice / Zuma Non-QM / ITIN | 2 Business Days | 2 Business Days |
| UNDERWRITING: REFINANCE | ||
|---|---|---|
| LOAN TYPE | INITIAL DECISION | CONDITION REVIEW |
| Locked Conforming | 2 Business Days | 1-2 Business Days |
| Unlocked Conforming | 2 Business Days | 1-2 Business Days |
| FHA / Streamline / VA IRRRL | 2-3 Business Days | 2 Business Days |
| VA Cash-Out | 2-3 Business Days | 2 Business Days |
| USDA | 3 Business Days | 2 Business Days |
| JumboPlus / Manhattan / Malibu Plus / Monterey | 3 Business Days | 2 Business Days |
| Balboa / Venice / Zuma / ITIN | 3 Business Days | 2 Business Days | Closed-End Second | 3 Business Days | 2 Business Days |
For Initial Decisions, turn times begin the date loan was placed in Underwriting
For loans in Central and Eastern Time Zones, the cut off for Condition Review Requests is 2:00 PM PT
For loans in Mountain and Pacific Time Zones, the cut off for Condition Review Requests is 3:00 PM PT
Condition Review Requests made after the cut-off time will be considered received the following Business Day
| CLOSING | ||
|---|---|---|
| DEPARTMENT | PURCHASE | REFINANCE |
| Loan Docs | 1 Business Day | 1 Business Day |
| Funding Conditions | 1 Business Day | 1 Business Day |
For Loan Docs, turn times begin the date the loan is placed in Docs Ordered. (Note: The loan must be CTC, CD consented & valid Rate Lock to be placed in Docs Ordered.)
For Wet States, funding is confirmed once loan docs have been released.
Please Note:
Business Days are considered days that JMAC is open for business.
Lender may need until the end of business day to process request based on current turn times.
For additional questions, please contact your Account Executive or Account Manager.