Manual Underwriting and Processing Time?

Asked by Pocahontas1016, 30034 Mon Nov 7, 2011

I am applying for my first home with Bank of America. I submitted all my information last week and my loan officer informed me that everything looked good and that she was submitting it to the Manual Underwriter on Friday and that it would take 7 to 10 days. My Realtor was actually surprised because she said it usually never takes that long. So I called in today to check the status and get the true processing time and another loan officer told me 3 to 4 days. How long did it take you all to get your loan approval back? Also, the manager told me that I was approved for desktop underwriting. Is that a extremely good sign that I will be approved for my loan or just a processing tool used to shoot severely unqualified applicants down early? Thank you! I will make sure to keep you all updated!

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Rodney Mason, Mortgage Broker Or Lender, Atlanta, GA
Mon Nov 7, 2011
You should only be asking your loan officer that question. Turn times vary from lender to lender depending on their actual volume that day. Many of the larger banks do have longer turn times for their files than other mortgage companies.

Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at
Licensed in Alabama & Georgia

Conventional | FHA | FHA 203K Renovation (Streamline & Consultant) | HomePath® |
HomePath® Renovation | VA | USDA | GA Dream | Jumbo Financing
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1 vote
Priscilla Ha…, Agent, Powder Springs, GA
Wed Apr 11, 2012
I agree with Lee, ask your Realtor questions regarding your sales contract & home buying process and ask your Loan Officer questions regarding processing the loan. You'll get the most efficient answers both ways.
0 votes
Lee Taylor, Agent, Decatur, GA
Mon Nov 7, 2011
Exactly, Rodney.

Do not rely on the representations of a Realtor regarding loan processing...go to the source.
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