Lender underwriting time varies by file, and we hold no measured figure for yours. Our engine's first pass has a measured median of 55.8 minutes across 49 runs. As an assumption, not a measurement: on a $10,000,000 bridge loan at 9% being refinanced into a loan at 7%, each day of waiting costs the borrower about $548 of extra carry, and puts a 1% origination fee on the new loan at risk.
The rest of this page shows where each number comes from, so you can replace ours with yours.
What we measured, and what we did not
| Number | What it is | Basis |
|---|---|---|
| 55.8 minutes | Median Titleman underwriting run, start to delivery | 49 runs that finished and were charged, 30 days to 11 October 2026; the middle half took 39.1 to 71.8 minutes. Measured on production. |
| $548 for one day | Extra carry on $10,000,000 of bridge debt at 9% being replaced by a loan at 7% | Arithmetic: $10,000,000 x 0.02 / 365. The balance and both rates are assumptions. |
| $3,186,000 | Gap between a $14,040,000 balance and the loan the T-12 income supports | One finished Titleman run on a sample 120-unit loan package, at 6.5% and 1.25x coverage. |
We did not time how long a lender's underwriting takes end to end, and we did not time an analyst doing the first pass by hand. This page therefore states no industry average, no saving and no comparison with weeks. The measured time covers the engine's first pass only. Collecting documents, third-party reports and the credit committee all sit outside it.
What a slow quote costs, in dollars and days
Two costs fall on two parties. Both are arithmetic on assumptions you can change. The borrower's cost is the carry on the debt being replaced, not interest on a loan that has not funded.
| Waiting | Extra carry on $10,000,000 of 9% bridge debt refinanced into 7% (assumption) |
|---|---|
| 1 day | about $548 |
| 10 days | about $5,479 |
| 30 days | about $16,438 |
The borrower carries that difference while a quote is outstanding, so a borrower holding a second offer can sign the earlier one. The lender's side is the fee. At a 1% origination fee the loan is $100,000 of income that the lender loses if the borrower signs elsewhere first. If your fee is 0.75% or 1.5%, the figure moves with it.
What we have not measured is how often borrowers leave for a faster quote. The page claims no rate. It shows the size of what is at stake on one loan so a credit team can multiply by its own count of files.
A fast quote can also be the wrong quote
Speed on the first pass only helps when the numbers hold. In the sample 120-unit package, a $14,040,000 balance covered 0.97x on trailing-12 income at 6.5%, and the T-12 supported about $10,854,000 at 1.25x, which is $3,186,000 below the balance. The refinance stress check shows the working. On a separate 50-unit package, the memorandum's in-place NOI sat 32% above the T-12, and the line-by-line teardown shows where the difference came from. A quote sized on the wrong income is quick and expensive in the other direction.
How a lender can time its own cycle
- Log three timestamps per file: package received, first findings in the analyst's hands, quote sent.
- Take the median and the slowest tenth of each gap over thirty days.
- Quote the borrower the slow-tenth number, not the median. A median is a coin flip: half of files run longer than it.
- Run the same closed file through an engine and compare the result with your own file before relying on it. The lender evaluation guide lists six checks.
The bridge loan page describes what one run returns, and how long AI underwriting takes gives the measurement table in full.
What this does not replace
The engine's first pass does not replace the credit decision, a loan approval or a term sheet, and it does not score the chance of default. It does not replace a licensed appraisal where a lender needs one to rely on a value, a title search, or an engineer's inspection of the property's condition. It does not replace the call to the borrower about each finding. This page makes no claim about funding speed. The output is a draft for a licensed professional to review.
See it on a file you already closed
Send a loan file you have already underwritten and compare what comes back with your own result: request a demo.
Prepared by Titleman AI, on behalf of the Titleman team.