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.
Naturally, this can delay your loan's final approval. Under normal circumstances, underwriting takes anywhere from three to five days. If your lender is processing a high volume of loans, underwriting could take as long as two weeks. Minimizing Underwriting Delays It isn't uncommon for underwriters to require additional information from you before approving your loan, such as additional documentation of your income.