But for you to place a blanket statement across the industry that a 30 day close is not possible or realistic is not fair to those companies that are consistently closing on time, in under 30 days, for the majority of the deals they fund. The La Mesa branch of imortgage has been open since early this year and we are still closing under 30 days and most importantly on time. As a direct lender it is a priority to ensure that these turn times are maintained, that is a top priority at the corporate level. We all know that it is hard to lend quickly for most companies, most of us came from other banks and can share all the war stories.

I just want to make it clear, that 30 day closes are possible. They are happening every month on most files including rehab and FHA loans.

I couldn’t agree more with your statement that “you really need to care that both the loan and real estate professionals involved in your transaction are tracking the process and generally know what the heck is going on at all times.”

That is the only way to close on time every time all the time. It is hard to believe how much of the industry is still doing business any other way!

Just heard about this yesterday.

You hit the nail on the head with people making sure the lender and the Realtor are knowledgeable and on top of things. I’m hearing more about transactions going south because of lenders who are clueless. Experience is so important these days.