Ten Day Close: Is It Real?

I will be the first to admit that I haven't seen it all in the mortgage business.

But I have seen a few things.

And I will never forget the first time I heard about the Ten Day Close at Academy Mortgage when I was stuck at just another mortgage shop who had a better shot of buying Goldman Sachs than of closing one of my loans in ten days.

My exact words at the time were:

So if you are planning on buying a home in Arizona and find yourself in this situation – who do you call?

Not me.

Call these guys.

They promise with their checkbook that they can get your loan closed in 10 days or less.

Which in my opinion is absolutely-eye-popping-remarkable for today’s lending environment. They have managed to put all of the pieces together under that are required to do this and if it were up to me, I would put them on the Today Show for being able to pull it off on a consistent basis.

But they haven’t asked me to write on their blog.

Yet.

It wasn't all that long after I wrote that post that I got a call from Academy to come and bring my Mortgage Commentator gig to their shop and comment all I wanted to on the Ten Day Close.

And I haven't changed my tune.

They really can (and do) close loans there in ten days on a Ten Day Close guarantee all the time.

How are they able to get it done?

Easy really.

It isn't rocket surgery.

• They have in-house processing.
• And in-house underwriting.
• And in-house closing and doc drawing.
• And in-house funding.
• And an in-house ops manager who makes it all happen and can personally sign off on fundings.

Thats pretty much it.

How many other places have I ever seen that can say all of that?

None.

But I told you already... I haven't seen it all in the mortgage business.

Yet.