There are many people refinancing their homes and taking advantage of the lower interest rates.  This has bogged down the system as there are fewer investors.  I had always taken pride in quick closings, 3-7 days.  Today that is not attainable.

Most lenders are on a 5-12 day turn time for underwriting and 48 hours for clearing stips.  This means it will take longer to get a clear to close.  Also, it is imperiative that the client furnish the documentation requested very quickly.  In today's market we need to send a complete file so it does not have to be revisited several times by the underwriter, slowing progress.  Be sure when writing a contract to allow for these changes.  Have you experienced closings not getting to the table on time?  Were you aware of the backlog?