Set Up

Loans submitted before 3 PM PST (6 PM EST) are considered the same day. Loans submitted after 3 PM PST (6 PM EST) will be set up the following business day.

New Submissions

The Turn time starts once the file is placed in U/W Received status. The file has been submitted at 2:59 PM PST on Monday. Tuesday represents day one of the stated turn time, Wednesday represents day two. The loan will be out of underwriting by end of business Wednesday. The file has been submitted at 3:01 PM PST on Monday. This is treated as a Tuesday upload, so Wednesday represents day one of the stated turn time, Thursday represents day two. The loan will be out of underwriting by end of business Thursday.

UW & Funding Conditions Review

Conditions have been uploaded before 3 PM PST, the following business day represents the first day of the stated turn time; the loan will be underwritten by end of business on the day indicated by the stated turn time. Condition packages uploaded after 3 PM PST will be treated as though they were uploaded the following business day. For example, the conditions have been submitted at 2:59 PM PST on Monday. Tuesday represents day one of the stated turn time, Wednesday represents day two. The loan will be out of underwriting by end of business Wednesday. For example, the conditions have been submitted at 3:01 PM PST on Monday. This is treated as a Tuesday upload, so Wednesday represents day one of the stated turn time, Thursday represents day two. The loan will be out of underwriting by end of business Thursday.

Docs-In Review

The Docs-In Review Turn time is based on the day not the hour of receipt of loan docs. For example, The Signed Docs are received at 2:59 PM on Monday. Tuesday represents day one of the stated turn time. The docs will be reviewed by the end of business Tuesday. For example, The Signed Docs are received at 3:01 PM on Monday. This is treated as a Tuesday receive, so Wednesday represents day one of the stated turn time. The docs will be reviewed by the end of business Wednesday.  

Hearth Lending's Lock Cutoff time is 3 PM PST & Funding Cutoff time is 1 PM PST Turn times are estimated on the day’s loan volume. For additional questions about turn times, please contact your Account Executive.