Credit-based insurance scores (discussed in detail below) are based on information in your credit report. The first thing you should know is that if GEICO does obtain a credit-based insurance score as part of calculating your insurance quote, the inquiry is labeled as being from the insurance company.
So how long does it take to clear underwriting and close the deal? An FHA loan can stay in the underwriting stage anywhere from two to six weeks, depending on how many issues come up. If you get a superstar underwriter, your file might clear his desk in a week or less.
This part of the process can take from 1 to 3 business days. Underwriting is the process by which the underwriter looks at the aplication and decides whether the loan makes sense or not. If it makes sense, they decide whether to approve the mortgage. Automated underwriting now can take care of most, if not all, of the tasks that used to be done by hand. A process that used to take 2 weeks now is done instantly. Clearing Conditions can take up to 1 month.