1. DISCUSS THE SCENARIO WITH AN ACCOUNT EXECUTIVE TO DETERMINE IF THE TRANSACTION WILL QUALIFY FOR FINANCING. THIS WILL SAVE YOU & YOUR CLIENT TIME AND MONEY.
2. PROVIDE US WITH AN EXECUTIVE SUMMARY OR EXPLAINATION OF THE LOAN REQUEST, USE OF FUNDS AND AN APPRAISAL IF ONE HAS BEEN COMPLETED. CERTAIN LOANS REQUIRE A 1003, CREDIT REPORT AND FINANCIALS. PLEASE ASK YOUR RESENTATIVE WHAT IS REQUIRED AFTER DISUCSSING THE LOAN SCENARIO DETREMINING IF THERE IS INTEREST.
3. THE SUBMITTED DOCUMENTS ARE REVIEWED AND ANALIZED TO DETERMINE WHAT PROGRAM THE BORROWER MAY QUALIFY FOR OR HOW THE TRANSACTION CAN BE BETTER STRUCTURED TO SECURE FUNDING. 4. AN APPROVAL, PRE APPROVAL, TERM SHEET OR LOI IS ISSUED TO THE SUBMITTING BROKER OR PARAMETERS OF THE TRANSACTION CAN BE DISCUSSED TO DETERMINE OUR ABILITY TO PROCEED.
5. A CONFERENCE CALL WITH ALL INVOLVED PARTIES IS EXECUTED TO ENSURE THAT THE POTENTIAL LOAN TERMS ARE UNDERSTOOD AND AGREED UPON OR TO BETTER FAMILIARIZE OUR FIRM WITH THE TRANSACTION.
6. IF ALL CONDITIONS ARE ISSUED AND RECIEVED A VERIFICATION PROCESS IS INITIATED TO DETERMINE IF A LOAN COMMITMENT CAN BE ISSUED OR A FUNDING DATE CAN BE TARGETED.
7. THE LOAN DOCS ARE SIGNED, FUNDS ARE WIRED TO TITLE OR ESCROW. (IF ALL PARAMTERS AND CONDITIONS MEET THE REQUIREMENTS OF THE MONEY SOURCE, INVESTOR OR LENDER)