FAQ: How is the Default Closing Date Calculated?

Q: How is the default closing date calculated?

A:  Charlie automatically calculates the default closing date using the following logic:

• If the Loan Scheduled Closing Date is available, Charlie uses it as the Estimated Closing Date.

• If the Loan Scheduled Closing Date is not available, Charlie checks and uses the Sales Contract Close Date.

• If neither the Loan Scheduled Closing Date nor the Sales Contract Close Date are available, Charlie uses the Borrower Requested Closing Date.

• If none of these dates are available, Charlie calculates the Estimated Closing Date by adding 30 calendar days to the loan creation date.