The problems in SubPrime lending are starting to take a toll on the rest of the lending world. As fewer and fewer lenders exist to approve, underwrite, and fund loans the remaining SubPrime AND Conforming lenders have to pick up the slack. Well this sounds great for them... at least at first.
The new problem is that lenders have to figure out how to fit "80 pounds of [loans] in a 5 pound bag". The result is that underwriting times are becoming extended. Long gone are the days of 24 hour turn around times. Some lenders are running at 5 or more business days between the time the loan is submitted and the time it is finished, add in another 3 days at least between when conditions are submitted and when it is cleared. What used to be a couple days to a week process has become at least a two week process.
So what is the solution?
Keep on top of things, be proactive not reactive (get it done ahead of time, don't wait to be asked).
Or find a lender that can still get things done tomorrow... literally. If you know who to work with you can submit a loan today and fund it tomorrow.
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