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As you all know there has been an increase in applications in the recent months. Much of the increase can be attributed to a drop in the rates that open the floodgates for Streamline FHA refinance activity and rate and term refinancing activity for those with equity. Many wholesalers that were 2-3 days in underwriting dropped back to 7-8 days in underwriting. When you have a 30 day escrow that begins the day that the bank accepts an offer, in a month like February, which is short and has a bank holiday, there is little margin for error.;)
;)
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