Which Steps Delay the Mortgage Closing Timeline?
A timeline review of closing steps and the handoffs that most often slip. The closing timeline study oct28 record keeps this point dated for the next reviewer.
Which Steps Delay the Mortgage Closing Timeline?
This protocol examines closing timeline delays. It reports what a defined record can show in one window and does not claim an industry rate or causal effect. The closing timeline study oct28 record keeps this point dated for the next reviewer.
Population and unit of analysis
The unit is one loan at closing. Keeping one unit prevents linked events from being counted as independent successes. The closing timeline study oct28 record keeps this point dated for the next reviewer.
Definitions and measures
The measure is the delay by step and owner. Report the denominator and window beside every count. The closing timeline study oct28 record keeps this point dated for the next reviewer.
Evidence and data dictionary
Collect the closing date, disclosure, and funding record. Keep missing, unavailable, and confirmed negative as separate states. The closing timeline study oct28 record keeps this point dated for the next reviewer.
Sampling and collection
The sample is loans closed during one quarter. Record the observation date and exclude items already open before the window. The closing timeline study oct28 record keeps this point dated for the next reviewer.
Analysis and reporting
Report delay by step and loan type. Separate staff behavior from vendor behavior when the evidence supports it. The closing timeline study oct28 record keeps this point dated for the next reviewer.
Limitations and sources of error
Limits include loans extended or withdrawn. State them beside the finding and avoid generalizing from a small sample. The closing timeline study oct28 record keeps this point dated for the next reviewer.
Review cadence and next action
The next step is to review one recurring late step. Re-test a later sample after the change. The closing timeline study oct28 record keeps this point dated for the next reviewer.
Sources
- https://www.consumerfinance.gov/
- https://www.fhfa.gov/
- https://www.hud.gov/
- https://www.nist.gov/cyberframework
- https://www.sba.gov/business-guide