When Does the Clock Start Ticking?

Written By: John Hoxsey
Certified Master Loan Processor (CMLP)

We all have turn times, but do your clients know when the clock actually starts ticking?

Many times I have loan officers send me incomplete packages all the while thinking that the countdown had started. The clock does not start until you have a complete package ready for submission.


It is important that we keep communicating what constitutes a complete package. I am not sure why, but it seems that the line is continually being grayed out and even erased if we are not constantly defining it.

I recently received a package that had no right being turned over to an underwriter. Half of the disclosures were incomplete, the dates were not compliant, etc. It took over two weeks for the broker to get me the missing items. The broker was starting to express frustration with the fact that the loan was taking so long to be submitted.

I very politely reminded them that they need to do their part, and then I, and the underwriter can do our part. If we all do our part everything flows.

On Monday I had a full file ready for the lender. On Wed I had a clear to close. It was worth the wait to submit the full package. You see my 24 – 48 hour turn time started on Monday. Fortunately the lender had a similar timeline, and we were able to move the file through quickly.

Remember - Your reputation is your business.

Happy processing!!

About the Writer. As one of NAMP's volunteer writers, John Hoxsey is currently a NAMP member in good standing and is a NAMP Certified Master Loan Processor (CMLP). If you would like to become a volunteer writer for NAMP, please email us at: blog@mortgageprocessor.org.