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AFR Updates

The AFR 411: Recent Changes and Updates

Current Setup / Approval / Conditions Turn Times

May 19, 2022

SETUP Department:
We are Opening and Disclosing files that were submitted on 05/19/2022.
Please note: All submissions dated 05/19/2022 might not be completed today.

Program Purchase

Submitted to UW on

 Refinance

Submitted to UW on
FHA 05/19/2022 05/19/2022

Streamlines: 05/19/2022
USDA 05/19/2022 05/19/2022
VA 05/19/2022 05/19/2022
Conventional 05/19/2022 05/19/2022
Renovation 05/19/2022 05/19/2022
One-Time Close: 05/19/2022
Non-QM Bank Statement Loans: 05/10/2022
Please note: All files submitted to UW on these dates might not be completed today.

CORRESPONDENT NON-DELEGATED Department:

We are currently performing the initial review of Correspondent Non-Delegated closing packages received on 05/12/2022.

Conditions are being reviewed within 1 business day.

CORRESPONDENT DELEGATED Department:

We are currently performing the initial Prior to Purchase review on files assigned 05/12/2022.

Prior to Purchase Conditions are being reviewed within 1 business day.

CLOSING DEPARTMENT: Current Closing Turn Times for Docs

  • Below are the standard turn times based on product and loan type; “days” and  “hours” refers to business days and hours.
  • Purchase Loans: 48 Hours
  • 203(k) Full: 48 Hours
  • Refinance: 24 Hours (excluding FHLMC Open Access)
  • Freddie Mac Open Access: 48 Hours
  • One-Time Close (OTC): 3 Days
  • VA One-Time Close: 3 Days
  • HUD REO Loans: 48 Hours for Docs Out (CD needs to be approved by HUD 3-5 days prior to closing.  Prepare accordingly.)
  • TX Loans (by our 3rd Party Doc Preparer): 48 Hours

AFR 411 Announcements