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Updated 7 months ago on . Most recent reply

What Bank Is Fastest when it comes to Cash Out Refinance?
Would love to know if any bank exists that can do a cash out refinance where underwriting takes less than one week
Most Popular Reply

Quote from @James McGovern:
7 days is a legal requirement plus to get a loan from application to processing through underwriting cleared and closing docs
May I ask what law specifies 7 days. Would like to educate myself in more detail.
On a conventional/conforming, there is a requirement with a number of regulations most notable TRID. Depending on the lender and the product if it is non-comforming you may not need to wait that time and you may not receive a LE or CD, but still most lenders will have it as a standard practice to be safe.
- Derek Brickley
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- 734-645-7722

Gold Star Mortgage Financial Group
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