Turn Times

Product	Loan Register		Initial UW	Conditions Received		Closing (Docs Out)
	Lights Out	LE Accepted with Changes		UW Clear	75%+ Received
Conv/Gov Purchase	1 Hour	2 Days	2 Days	2 Days	3 Days	2 Days
Conv/Gov Refinance	1 Hour	2 Days	2 Days	2 Days	3 Days	2 Days
Project Review (Condo)	N/A	N/A	3 Days	3 Days		N/A
Project Review (Co-Op)	N/A	N/A	2 Days	3 Days		N/A

Last Updated:  April 13, 2021 at 9:32 am ET

 

How Turn Times Are Determined

Turn times are estimated on the day's loan volume. For additional questions about turn times, please contact your Account Executive.

Loan Register: The number of business days to register/disclose a loan after it is submitted in LION (NewRez’s broker web portal) and an LE is created.

Initial UW Review: The number of business days for an underwriter to complete initial review of the file after the loan is registered.

UW Conditions Received: The number of business days for an underwriter to review conditions uploaded after the Initial UW Review. The turn times published for conditions review include the Account Manager (AM) review.

Closing: The number of business days for the assigned Closer to complete the final loan review and send closing documents.

 

NOTE: 90% of the loan turn times are represented in the above information.