usda: Guidelines Effect Turn Times
- 08/27/09 07:14 AM
Set realistic expectations for your clients. Guidelines are tightening across the board. The work of processors, underwriters, and closer departments are increasing to ensure loan quality. These new guidelines are effecting turn times and closing dates. In order to coach your borrower, you must know the loan type and the estimated turn times for that loan. Regulation Z has done away with quick closings. And guidelines are pushing closings further back.
USDA loans take twice as long to get from application to closing. These files are being underwritten twice; once at the company/broker and again at the regional USDA office in … (0 comments)
Set realistic expectations for your clients.;)
;)
