Updated Sunday, September 15th 2019
| DISCLOSURES & SUBMISSIONS | |||
|---|---|---|---|
| TYPE | PURCHASE | REFINANCE | CTC |
| Submission / LE | 1-2 Business Day* | 1-2 Business Days* | N/A |
| Closing Disclosure | 3 Business Day* | 4 Business Days* | 2 Business Day* |
*All complete PTD condition request after 3:00pm PDT will be logged for the following day.
UNDERWRITING
| PURCHASE | ||
|---|---|---|
| LOAN TYPE | INITIAL DECISION | CONDITION REVIEW** |
| Locked Agency | 7 Business Days | 4 Business Days |
| Unlocked Agency | 7 Business Days | 4 Business Days |
| FHA | 3 Business Days | 3 Business Days |
| VA | 3 Business Days | 3 Business Days |
| REFINANCE | ||
|---|---|---|
| LOAN TYPE | INITIAL DECISION | CONDITION REVIEW** |
| Locked Agency | 15 Business Days | 4 Business Days |
| Unlocked Agency | 15 Business Days | 4 Business Days |
| FHA | 3 Business Days | 3 Business Days |
| VA | 3 Business Days | 3 Business Days |
| DELEGATED PORTFOLIO PRODUCT | ||
| LOAN TYPE | INITIAL DECISION | CONDITION REVIEW** |
| Prime Portfolio | 5-6 Business Days | 4-5 Business Days |
| MVP | 5-6 Business Days | 4-5 Business Days |
| Simply Stated | 5-6 Business Days | 4-5 Business Days |
| NON-DELEGATED PROGRAMS | |||
| LOAN TYPE | INITIAL DECISION | INVESTOR | CONDITION REVIEW** |
| Investor Solution | 5-6 Business Days | Up to 5-6 Days | 4-5 Business Days |
| Expanded Plus | 5-6 Business Days | Up to 5-6 Business Days | 4-5 Business Days |
| Expanded Prime | 5-6 Business Days | Up to 5-6 Business Days | 4-5 Business Days |
| Rapid Investor | 5-6 Business Days | 3-5 Business Days | 4-5 Business Days |
| Ultra Jumbo / Ultra Jumbo DU | 5-6 Business Days | 5-6 Business Days | 4-5 Business Days |
| Platinum Jumbo | 5-6 Business Days | 2 Business Days | 4-5 Business Days |
| Silver Jumbo | 5-6 Business Days | 3 Business Days | 4-5 Business Days |
| CLOSING | ||
|---|---|---|
| DEPARTMENT | PURCHASE | REFINANCE |
| Docs | 3-4 Business Days | 4-5 Business Days |
| Funding – Agency/FHA/VA | 2 Business Days | 3 Business Days |
| Funding – NonQM/Jumbo | 2 Business Days | 3 Business Days |
*Please Note: Docs ordered turn around time starts when loan is in CTC status and signed initial CD is uploaded in the system. Funding conditions turn time is based on the day, not the hour, of receipt of loan docs. Any docs received after 3:00 pm would be logged for the following day and turn time would be for the day after that.
Turnaround times will be updated daily at approximately 9:00 am Pacific Daylight Time.
Mega Capital Funding, Inc.’s cutoff time for lock is dependent on the program. Please refer to the lock policy for cut off times.