FAQ: How is the Estimated Disbursement Date Calculated?

Q: How does Charlie calculate the estimated disbursement date?

A: Charlie uses a priority-based hierarchy to automatically calculate the estimated disbursement date based on key loan milestones. 

1. Primary Source: Closing Date

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

• The Estimated Disbursement Date is then set to one business day after the Closing Date.

2. Secondary Source: Closing Disclosure (CD) Issued Date

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

• The Estimated Disbursement Date is calculated as four business days after the CD Issued Date.

3. Tertiary Source: Loan Estimated Closing Date

• If neither the Closing Date nor the CD Issued Date are available, Charlie will use the Loan Estimated Closing Date.

• The Estimated Disbursement Date is then calculated as one business day after the Loan Estimated Closing Date.

What happens when dates are updated?

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

• If the Closing Date is cleared, Charlie will revert to using the CD Issued Date or Loan Estimated Closing Date, depending on availability.

Can users manually adjust the Estimated Disbursement Date?

No. The Estimated Disbursement Date is automatically calculated by Charlie based on available date inputs and cannot be manually overridden. This ensures consistency and alignment with industry-standard disbursement timelines.

However, both the Scheduled Disbursement Date and Actual Disbursement Date are entered manually.  

Where can I view 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 Closing Date, CD Issued Date, Loan Estimated Closing Date, and Estimated Disbursement Date.

   • Edit applicable dates where permitted (though the Estimated Disbursement Date itself remains non-editable).