Seven Questions to Ask any Loan Officer

#5 What is your average processing time?

Recent layoffs at the nations biggest banks are sure to cause an increase in turn times.

Recent layoffs at the nations biggest banks are sure to cause an increase in turn times.

Every loan application is important, but when it comes to purchasing a new home there are movers, contractors and delivery drivers waiting for your go instructions so processing times really matter!

According to Ellie Mae’s Origination Insight Report for March 2014 in a survey of 3.5 million loan applications, processing times are down from January’s high of 47 days to just 41 days but with more ensuing layoffs this number is bound to climb this spring and summer.