Updated Tuesday, December 1st 2020
| DISCLOSURES & SUBMISSIONS | |||
|---|---|---|---|
| TYPE | PURCHASE / JUMBO | REFINANCE | CTC |
| Submission / LE | 24 Hours* | 1-2 Business Day* | N/A |
| Closing Disclosure | 1-2 Business Day* | 1-2 Business Day* | 2-3 Business Day* |
*All complete PTD condition request after 3:00pm PDT will be logged for the following day.
From time the full package is received.
UNDERWRITING
| PURCHASE | ||
|---|---|---|
| LOAN TYPE | INITIAL DECISION | CONDITION REVIEW** |
| Agency (MAX Loans) | 2-3 Business Days | 3-4 Business Days |
| Agency (Non-MAX Loans) | 4-5 Business Days | 5-6 Business Days |
| FHA | 5 Business Days | 4 Business Days |
| VA | 5 Business Days | 4 Business Days |
| REFINANCE | ||
|---|---|---|
| LOAN TYPE | INITIAL DECISION | CONDITION REVIEW** |
| Locked Agency (MAX Loans) | 2-3 Business Days | 3-4 Business Days |
| Locked Agency (Non-MAX Loans) | 4-5 Business Days | 5-6 Business Days |
| Unlocked Agency | 5 Business Days | 5-6 Business Days |
| FHA | 8 Business Days | 4 Business Days |
| VA | 8 Business Days | 4 Business Days |
| DELEGATED PROGRAMS | ||
| LOAN TYPE | INITIAL DECISION | CONDITION REVIEW |
| Platinum Jumbo | Purchase
2-3 Business Days |
Purchase
2 -3 Business Days |
|---|---|---|
| Refinance
15 Business Days |
Refinance
12 Business Days |
|
| CLOSING | ||
|---|---|---|
| DEPARTMENT | PURCHASE / JUMBO | REFINANCE |
| Docs | 1-2 Business Days* | 3-4 Business Days* |
| Funding – Agency/FHA/VA | 2-3 Business Days | 3-4 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.