|
ü
Your loan
application is entered into the computer system for
inter-office tracking
ü
Your
printed application is prepared with a cover letter
provided by your consultant
ü
The file
is submitted to the underwriter
ü
The
underwriter objectively reviews the loan package
and all documents to assure that the package
and all documents within the package meet
established guidelines
ü
The
underwriting review takes 2-3 days.
ü
The loan
is approved always with conditions.
ü
24-48
hours (depending on market conditions) your file is
issued one of the following:
ü
Approved-
your file will then go to process. Files
are always
approved with conditions.
ü
Suspended-
your consultant will contact you for more
documentation to support your file
ü
Denied-
Your consultant will contact you to inform you that your loan
cannot be approved at this time, in addition to providing you
a plan of action to prepare yourself for loan approval in the
future.
|
