With a thorough, completed application, we can work very quickly in issuing an approval. The background check usually takes a week to turn-around and if there are no issues, we can issue an approval shortly thereafter. If there are questions or documentation is missing, the process should take no longer than 4 weeks, unless we do not receive timely responses from the applicant.
Also, please note that during the application process, it may be best to simultaneously apply for a correspondent approval with your end investors to expedite that process. For existing correspondents, we will just ask for documentation of your investor approvals.