How long does an underwriter have to make a decision after receiving a complete underwriting package?

An underwriter typically has 30 days to make a decision after receiving a complete underwriting package. This timeline is in place to ensure that the underwriting process adheres to standards and allows the lender to assess the borrower's creditworthiness effectively while maintaining compliance with relevant regulations.

The 30-day period serves as a balancing act: it provides enough time for the underwriter to thoroughly evaluate all the submitted documentation, analyze risk factors, and communicate with the borrower or loan originator if further information is required, while also being efficient enough to keep the loan process moving forward. This timeframe aligns well with industry practices that aim to streamline the lending process without compromising the thoroughness of the assessment.