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.
The average underwriting process takes about three to four weeks to complete. If the life insurance company needs to request an APS, your underwriting process can take up to two months (depending on how slow your doctorsâ office is). There are other reasons your approval may be delayed.