FAQ: How is the Estimated Closing Date Calculated?

Q: How is the estimated closing date calculated in Charlie?

A: Charlie uses a priority-based hierarchy to auto-calculate the Estimated Closing Date using key loan milestones. 

1. Primary Source: Scheduled Closing Date

   • If a Scheduled Closing Date is entered, Charlie will use this date directly as the Estimated Closing Date.

2. Secondary Source: Target Closing Date

   • If the Scheduled Closing Date is not available (null or blank), Charlie will default to the Target Closing Date.

3. Tertiary Source: Estimated Closing Date (Manual Entry)

   • If neither the Scheduled nor Target Closing Dates are available, users can manually enter an Estimated Closing Date, which will then be used.

What Happens When Dates Are Updated?

• If a Scheduled Closing Date is added or modified, it overrides any previously set Estimated Closing Date.

• If the Scheduled Closing Date is cleared, Charlie will revert to using the Target Closing Date or manual entry, depending on availability.

Can Users Manually Adjust the Estimated Closing Date?

Yes. If neither a Scheduled Closing Date nor a Target Closing Date is present, users have the ability to manually enter an Estimated Closing Date directly in the Dates section.

However:

• Once a Scheduled Closing Date is entered, it automatically takes precedence over manual entries.

• The system ensures that automated date logic aligns the closing timeline with key loan milestones to maintain consistency.

Where Can I View or Edit These Dates?

1. Navigate to the Loan Overview screen.

2. Click on the Dates chip at the top of the screen.

3. Here, you can:

   • View all key dates, including the Scheduled, Target, and Estimated Closing Dates.

   • Edit applicable dates where permitted.

Note: Some dates, including the Estimated Closing Date when auto-calculated, may not be editable depending on other data present in the system.