United Wholesale Mortgage (the largest wholesale lender in the country) recently instituted a new ranking system that directly correlates to turn times. Basically the more thorough you are in providing a complete initial application, the less work there is for the underwriter.
At UWM, I placed in the top 2% of loan officers in the country in efficiency. Therefore they reward me with putting my files ahead of 98% of the other loan officers. I submitted a loan to underwriting this morning and we were approved with conditions this evening. My last two loans were underwritten and approved in 24 hours. While other lenders are taking 4-6 weeks to underwrite files, UWM is taking care of their best clients.
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