Certified contractor is a good start that means they are ready, willing and able to come up with the finds to get started.
If a lender is sending this out to another "funding lender" then they aren't where you should be going for the loan. They are a correspondent. They aren't the decision maker, they will underwrite then send to the funding lender who will underwrite all over again, thus you have a 60 day close.
Find a direct lender who knows the product. Use a consultant and get them involved up front before the contractor so they can insure the contractor knows the health and safety issues not just the bid ticket items.
This shortens the closing time by weeks. Try http://www.cfs-mortgage.com/203k for more information.
Best wishes for a smooth and timely closing...Jim
In addition, they may be correct, due to the additional paperwork, fewer banks offer FHA loan which means there could be a 3rd party involved as well.
45-60 days is a good turn around. Depending on the contractors and bank, and particularly the loan officer handling it, we've seen 90+ on some.
I know lenders that do the rehab loan and specialize in these, if you'd like to speak with them. Feel free to contact me anytime.