Rollerman, asked a friend who does loan reviews for a living. The comments:
Well, that is a trickier question than timing, let's say, a fair lending audit. It depends on many factors such as file stacking order, ease of finding information, is it a purchase or refi - conventional, USDA, FHA, VA, Portfolio, etc., If you are just checking for signatures - 15 minutes to review and write up. If it is a complete review - 2 hours to 2 days (not kidding, some have been that messy in the fraud arena where you map out all the events and characters).
Comprehensive Post Closing forensic review, compliance, underwriting, state and federal regulatory - a. Clean file with all documents - 2 to 4 hours (after receiving back re-verifications for pay stub, w2, VOE, 401k. bank statements, 4506t tax transcripts, etc. b. Messy file, stacked like 52 card pick-up and missing documents 2-6 hours. c. I believe the average in an 8 hour day is 2-3 files a day for complete comprehensive forensic review, Most I have been able to do is four - but of course I am a stickler. 2. Target Post Closing - Compliance or Underwriting, or general - usually standard is set high at 8 a day, doable for mini targets (Note, SA, Assignment), - almost impossible if you're doing a good job which best is probably 6 files a day.
2. Pre-Closing, again is based on how file is set up and organized, but generally should take about 1 hour per file, more if review of tax returns, financial statements,
etc.
3. Fraud reviews - generally 1-2 days.
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Integrity. With it, nothing else matters. Without it, nothing else matters.