developer imposes this deadline to make sure that in addition to the banker and agent processing the case fast, you as the customer will also have to do your job to follow up with your banker on the loan application.

many times banker keep chasing customer for documents but customer take their own sweet time.

i'm not saying all bankers process loan fast, or all customers do things slow.

if all parties expedite on their end, approval within a week is no issue provided that the documentation provided to the bank is solid.