loan officer sales reddit
Thanks for the long hours i know they have you guys on 12/7 schedule. My application says it is "processing", now what? QUESTION: Does contacting my congressmen or senator actually work? What does this mean and what can I do? -open bankruptcies = Declined. ANSWER: For supporting Cue378, there is a tip jar listed above. Literally clearing 2.75 to 3 points on every closing. The Area Sales Manager will work closely with the Divisional Sales Managers and Executive leadership to execute on the strategic plan for their specific area and the division as a whole. NMLS License #2611 Arizona Mortgage Banker License #0907078 3940 N. Ravenswood Chicago, IL 60613 - (866) 934-7283 The company name, Guaranteed Rate, should not suggest to a consumer that Guaranteed Rate provides an interest rate guarantee prior to an interest rate lock. You can bring your vantage 3 score over 570 by paying down cards, when you are ready you can request the SBA re-pull your report and reactivate your account via pdcrecons@sba.gov. How do I show support for the volunteers and moderators for r/EIDL. Using the Capital Access Finance System to track your EIDL after your documents have been signed and submitted through funding. Be Ahead of the Curve With Client Contact. The Area Sales Manager will work closely with the Divisional Sales Managers and Executive leadership to execute on the strategic plan for their specific area and the division as a whole. If the SLO does not approve the deal then it will go to declined. 7-Eleven Franchise Stores, despite what corp office says. I just prefer to stay an anonymous helper. It most commonly relates to credit based issues or problems pulling your credit report from Experian. This is when your portal would change from "processing" to approved. 21. Because they brought business in the door. What documents are required? Concerns that derive more than one-third of their annual gross revenue from legal gambling activities. How to tell a good company from a bad one? Credit Pulled (waiting for automated portal invitation, this is by far the longest part of the process), Quoted (received portal invite with an eligible amount), Offer Accepted (you confirmed and submitted an amount in the portal), Submitted Deal (waiting to be assigned to a Loan Officer), LO assigned and makes decision: Declined, Duplicate, Approved, [The following takes place behind the scenes and will not reflect in your portal, but will still say "processing"]. Can I still get a grant? -Your business must pass verification in some way that it is a valid operation. Click on the "ZIP LOOKUP" button after you enter your zip code. The site may not work properly if you don't, If you do not update your browser, we suggest you visit, Press J to jump to the feed. Also, is it possible to run with own leads and work for a mortgage loan broker online? Loan officers work for banks and other financial institutions, helping individuals and businesses obtain funds from these lenders.They investigate their creditworthiness, then authorize or recommend approval of loans. there is a lot of pressure to meet sales goals. I've read horror stories of brokers promising the world, 15 day closings, talk directly to underwriter, too many great quality leads you won't be able to handle them all, make 200k+ your first year, want to take your career to the next level...etc. Things change frequently at the SBA with policy and you should check back on this thread on a regular basis. He could then rape them as much as he wanted because the borrowers felt this guy was the only person in town that could get them a mortgage. 5 Strategies Loan Officers Use to Attract More Business As a loan officer, your primary goal is to determine the best mortgage loan program for your customer (and of course, close the loan). Obligated: A loan number from E-Tran has been obtained and now closing documents can be drafted and sent to the borrower. This thread has been locked by the moderators of r/EIDL. I understand that processing really means "underwriting", but how long will it actually take? I hope you run for office. 7. Concerns Involved in Change in Ownership Situations: Concerns which had a substantial change of ownership (more than 50 percent) after the impending economic injury became apparent, and no contract for sale existed prior to that time are ineligible . This forum has been so helpful. Will a loan officer contact me? It’s a huge butterfly affect. Also, Top ~1% LOs as the LoanDepots and Quickens are pulling in $500k+. However, other cooperatives and small agricultural cooperatives meeting applicable size standards are eligible f. Not a small business concern (except for PNP of any size) g. Gambling Concerns. Concerns engaged in live performances of, or the Sale of Products, Services, of a Prurient Sexual Nature. The option has been removed from new applications. Most are very nice and well meaning people but are usually poorly informed and often provided contradictory information between calls. Thank you so much. I finally got a portal invite and accepted and submitted an amount. The problem is that once you accept you set the process in motion and then it gets obligated by treasury it is impossible to adjust. ANSWER: As most of you already know, the EIDL Advance/Grant program has ended and the full 20 billion in funding for the advance has been exhausted. I like the numbers and solving situations and enjoy helping people with their mortgages when I could. I have done some Google and glassdoor research, but I want to hear it straight from the Reddit community! The typical Bank of America Loan Officer salary is $40,777. It may say something else if you look immediately after you send back you Docs, but it should change pretty quickly. The EIDL working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. Some people have asked how they can support my efforts. Consumer and Marketing Cooperatives. He would get all the rejected borrowers that couldn't get approved by the builder. If you click on your loan# in the list, it opens up a page with details about your loan. See list on FAQ. Do NOT panic if it seems "stuck" with no communication from anyone. Can I know in advance? 4. PenFed is hiring an Area Sales Manager, Mortgage Loan Officer at our Charlotte, North Carolina location. Unbelievable amount of work went into this info. Casinos, Racetracks, Etc. Can we add a section on EIDL uses and best way to track? If you are not funded within 3-4 banking days, there is likely a problem - check your info in your portal, call the SBA, and then email Cue if needed. *IF YOU HAVE ALREADY ACCEPTED THE OFFER: Call tier 2 support as soon as you possibly can and ask them to make the following note in your file: Loan Officer, DO NOT approve this file without calling me, the applicant, because my (revenue or COGS) figures are wrong. It is a 3-4 week process that requires documentation. Yes I agree and I will. You have documentation to backup the changes such as Federal Tax Returns 2018 or 2019 or P&L Statements. You may come to hate this screen, this process is very finicky. If the client questioned it they would smooth there way around it and at some point say "well, that's what the new rate is, if you don't sign it you will lose the house." In many ways, a mortgage broker and mortgage loan officer perform the same tasks. The exact underwriting criteria the SBA is using was leaked by some helpful people (hat tip to u/Sbaleaky) and thus you can have a good understanding what your chances are. This is normal. It depends on your bank when they post in your account (same day, next day, time). 8. Note if you have not yet accepted the offer the normal process is much faster. You may also see a status that says, "On-Hold" Amount $0: This status typically is when your loan was temporarily declined and is still in the reconsideration department pending possible reconsideration approval. ANSWER: EIDL has a list of restricted business categories, if your type is NOT on this list and you still received this letter you may have been improperly classified. If you made an error you can request an amendment and reactivation of your application. On February 5, 2014, a jury in federal court in Alexandria, Virginia ruled in the company’s favor that a loan officer was exempt from the overtime provision. QUESTION: I need to change my Rev or COGS and I already accepted an amount in the portal, Tier 2 told me to do it! My loan as obligated or already funded, I made a mistake with my COGS or revenue and I am not happy with the amount. Please read the following. But if it takes it, you're in! They do NOT use FICO. A loan officer’s commission can make the difference between a … I started in that space and have been in many parts of the business. PenFed is hiring an Area Sales Manager, Mortgage Loan Officer at our Charlotte, North Carolina location. Sales Associate/Loan Officer in Training - CrossCountry Mortgage CrossCountry Mortgage is more than a mortgage! I was declined for "unsatisfactory credit". This email is NOT for use by applicants but only official government purposes. 14. 19 days of PTO+ 10 Holidays! Credit score is largest factor for approval for this loan and no exceptions are made for under 570. They can be reached here: Scorpio14534@protonmail.com. This one is a bit different, it features tips for you as a loan officer or lender to keep your blog content fresh and interesting to your audience. If the alien resides outside the USA an exception may be made. Loan packagers who derives more than one-third of their annual volume from the preparation of applications seeking financial assistance from SBA, Pawn shops, when 50 percent or more of previous year’s income was derived 50 30 9 71 Effective Date: May 31, 2018 from interest. It takes a great deal work run the community and they are putting in a near full time effort outside their normal occupations. Can I change it? The loans are not intended to replace lost sales or profits or for expansion. While there are many good lenders, there are fewer good lenders that are superior salespeople in banking. As a loan officer, it is key to serve as your client’s advisor for life as you show them the cost of their loan over time with a total cost analysis, and more. Once they sign off on the deal the loan is now fully approved. QUESTION: Help! My second loan app # is similar to yours and I am awaiting portal invite. I can't help but think if I had better support and leads provided I could really excel at this career. Loan status will say "Active Un-Disbursed" until Treasury send the funds to your bank, then it changes to "Disbursed Current". You will have to select 3 of their security questions, enter the Captcha image info, then hit "submit" at the bottom. There may be a verification step now as well. ANSWER: Yes, but only if you meet the following two conditions: You should NOT have already accepted an amount and submitted for processing in the portal. What can I do? We know one of the best that we reported on back in 2014 and thought we would update his production and techniques. Please post any questions not covered and I will respond and add them here. share. Here we can discuss EIDL loans, advances, and all things related to the 2020 CARES ACT. He was the only loan officer in the area that was Armenian so they would trust him. You can contact pdcrecons@sba.gov and request a "Loan Modification increase". Visit caweb.sba.gov or click the link at the top of r/EIDL, You need a SBA Loan # to set up an account - for EIDL it appears on the first page of your documents, in the upper left hand area, and says "SBA Loan # XXXXXXXXXX.”. Once you see a loan amount in your portal, this is NOT a "pre-approved offer". Thanks. Docs will not show up until you get an email with the approval. How is the loan amount calculated? The following applicants are not eligible for EIDL assistance. Guy would write off every roll of toilet paper. What is the normal amount of time? PenFed is hiring an Area Sales Manager, Mortgage Loan Officers in Virginia Beach, Virginia. Wondering is it possible to be a realtor and MLO at the same time? Concerns with Principals Incarcerated, on Parole or Probation: remain ineligible if the parole or probation is lifted solely because it is an impediment to obtaining a loan. If they can find it on google it will suffice. This auto populates some other boxes, and registration won't work if you don't do this. For more details email me. OFFICIAL FREQUENTLY ASKED QUESTIONS AND ANSWERS FOR. (NOTE: As of 5/29 the previous direct number is currently out of service) They are unfortunately, a very limited means of support. Can I know in advance? The loan is being sent to the E-Tran system to receive a loan number. Apply to Loan Officer, Customer Service Manager, Branch Manager and more! Others in my office would wait til closing before F-ing the clients over. I know this post seems abstract, but a career as a loan officer seems pretty attractive to me - one reservation I had though was that this guy, doing the math, was making $300-$500k a year whereas the median salary for a mortgage loan officer is … For denials you lose self certification ability and you will be required to furnish full documentation. The delay on this can be a few hours or more. The Area Sales Manager will work closely with the Divisional Sales Managers and Executive leadership to execute on the strategic plan for their specific area and the division as a whole. QUESTION: My loan was obligated, already funded, or I already accepted the amount in the portal. QUESTION: I received a denial letter for the reason "ECONOMIC INJURY NOT SUSTAINED". E-2 Investor visa is NOT eligible and any attempts to appeal or add a co-borrower who is a citizen or LPR will be unsuccessful. Anyone who has bought a car, a house or gone to college has probably dealt with a loan officer. Look at the rules for creating a User ID and Password by clicking on "Rules..." next to the fields. This mortgage marketing, mortgage sales, and mortgage motivation strategy podcast will go through actual training and coaching I give to our mortgage branches and loan officers and as we were hiring I realized that I was just repeating information every time we partnered with a new office. Agricultural businesses: 6 months operating expenses year prior to 1/31/20, If the formula results in a negative number or less than your advance you will be declined for "ECONOMIC INJURY NOT SUSTAINED". If you have more specific questions on the allowable usage of EIDL funds, one of our moderators, u/Scorpio14534 who is also a licensed professional CPA that is very knowledgeable on this matter is open to email requests. The job of a loan officer is ranked as the 13 th best business job by U.S. News and World Report. This means the Loan Officer has approved the deal and it is now going to the Senior Loan Officer. If your only revenue was earned after that date as a newer business you may not qualify, but it is possible to use a 12 month projection which you can submit to reconsideration. To be clear any assistance I offer is entirely free without any expectations. How can I request a specific amount? 276 Loan Officer Inbound Sales jobs available on Indeed.com. Check out the loan officer … Looks like you're using new Reddit on an old browser. 16-20 loans at 3% plus the shadyness of padding the loan to cover the broker fees and the 15% tax that would come out. 1. Commercial loan officers work specifically with businesses. -Business start date must be prior to 1/31/20. ****Hat tip to u/tahoechick36 for this amazing write up**. Apply to Loan Officer, Junior Loan Officer, Mortgage Loan Originator and more! Simply unbelievable! Prospect has argued that the loan officers were exempt from the FLSA overtime provisions because the primary duties of the sales employees take them away from the office. QUESTION: What are my chances of being approved for this loan? On the home page click on "Not Enrolled?" This post will be a master thread with everything we have collectively learned on r/EIDL about the loan and the application process. I received my portal link, but when I go to create an account it just takes me to the login page. Answer: Unfortunately tier 2 is currently giving absolutely terrible advice in this situation. I received a denial letter for the reason "ECONOMIC INJURY NOT SUSTAINED". Approved: T2 Rep can now see your loan is approved on their screen. $500 a closing and minimum wage can add up if you know what you’re doing. -If economic injury was sustained based on formula described in QUESTION 4. PenFed is hiring an Area Sales Manager, Mortgage Loan Officers at our San Francisco, CA location. I'm glad it checks out. I have not gotten to the point to seek CUE378 help yet. My application says it is "processing", now what? This is the most common phase where hang ups in "processing" can error called "error in obligating". You are NOT "stuck" if you are still within this time range. Great. Congrats. 18. Thoughts? ANSWER: As of last update it is currently 150K cap. I received a decline letter for “Business activity not eligible”. Is it too late? The SBA calculates economic injury based on the formula in question number 4. PPP loans typically appear as "Active Un-Disbursed" - if your PPP is already funded don't worry about that. Logging out and back in again will sometimes refresh the status. For older applications please see this post for more information: https://www.reddit.com/r/EIDL/comments/hr3l41/eidl_news_714_update_regarding_the_current_status/. Fill in the highlighted fields with your info. If you already accepted you may have time but would need to work quickly from date of submit. 17. QUESTION: When will I get my portal invite? Overall, based on your post, I do not feel you are a good fit for the mortgage business. -All owners on application must be either US citizens or Permanent Residents. Corporations, Partnerships, and Limited Liability Entities (LLE): Alien-owned corporations, partnerships, and LLEs properly registered and licensed in the state where the disaster occurred are eligible. Closed OK. -Arrest for misdemeanor < 5 years = Declined, -Sole proprietors with delinquent child support > 60 days = Declined, -Any business principals with 50% or more ownership with delinquent child support > 60 days = Declined. *If you already did see note below. *You can request to add a co-borrower that has a higher score than 570 with no open bankruptcy and run their credit to reactivate your application. Can I change it? Often times loan officers never are needed, never reach out or even read these notes. 12. ANSWER: These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. Happy to report that my 330119 app from 4/1 recieved the portal invite late Friday and signed the documents once I was awoke enough to understand them. For user type - select "borrower" from the drop down menu. The exact process is as follows (hat tip u/sbaleaky and u/LOL_Face_69) with the actual stages from start to finish. UPDATE: As of 6/15 there is now a way to fix this. Loan officers get paid in a way that they call "on the front" and/or "on the back." If this is a negative number you will be auto declined. Surely, some loan officers get a reasonably steady stream of clients coming through their doors. Hope to get the funds this week. QUESTION: I was declined for "unsatisfactory credit". Just depends which channel is a better fit. 3. In fact he didn't spend anything on advertiser. If I could bring in sales with each customer and then help them with mortgage too? Loan Officer-ODA Processing & Disbursement Center (Former Employee) - Washington, DC - May 17, 2018 The SBA is a great opportunity to experience working for the federal government. Catalyst Funding is looking to hire multiple local Loan Officers for the following areas: Dallas, Houston, and San Antonio. Sometimes this # is easy to figure out, sometimes not. I have supporting docs to make the changes. That has to do with an intermediary (like your bank) being involved, but if you can track down an actual SBA Loan #, you can go ahead and get registered without your EIDL loan number. If you takes you back to the login screen instead of letting you create an account, try following the steps HERE. Just Cue being Cue. I worked very hard to make sure everything was factual. At this point you can track the disbursement with your loan number from the docs using CAWEB to see if the ACH has been sent. QUESTION: How do I get in touch with customer service phone support? Concerns Engaged in Illegal Activities (as defined by Federal guidelines). He or she is amazing. Call tier 2 support as soon as you possibly can and ask them to make the following note in your file: "Loan Officer, DO NOT approve this file without calling me, the applicant, because my (revenue or COGS) figures are wrong. Will a loan officer contact me? ANSWER: There is no way to request a specific amount, the eligible amount is calculated automatically by formula based on your inputs. What is CAWEB and how can it help me track my loan disbursement and other status? And I would donate to your campaign. Loan Officer Blog Topics. ANSWER: The loan is relatively easy to get approval for by loan standards. Would like to give it another shot. There's even a box at the bottom to check if you want electronic account statements only, but if you check that, a warning pops up about "all attached to this loan will be affected by this change", so we recommend not selecting that option just yet. Funding: Docs are signed and the loan is automatically moved to funding stage to have treasury issue an ACH. 11. QUESTION: I received my portal link, but when I go to create an account it just takes me to the login page or I get the error: "The user account has not been confirmed yet. What are my chances of being approved for this loan? If the SLO does not approve the deal then it will go to declined. If your offer is lower than expected you may have been wrongly classified into this formula. I have seen it happen in as fast as 10 minutes or as long as 12 hours. Been trying to reach you but unable to send pm. Financial commitment ID is your Loan # - 10 digits. Mortgage Loan Officer salaries at PENFED Credit Union can range from $50,042 - $85,226. ** If your application has been in underwriting for greater than 20 days it may merit investigate, but not necessarily indicate a problem with your chances of approval. Top ~10% pulling in $200k+. Guidelines, reading credit reports, how to take a mortgage application.... did your place do anything for you? He wasn't spending 900k in advertising. It will be processed as a 20xx series loan in the old system/portal. This "work hard" bull crap isn't what these guys do. Apparently we still can, so don't make this a big deal or maybe that will change! yet the average guy in my office was pulling in 250k and 2 guys were 1mm+, I have seen their pay checks for myself. Approved: T2 Rep can now see your loan is approved on their screen. Under the supervision of the Sales Manager, the Loan Officer presents mortgage opportunities to future clients over the phone in accordance with all regulations and training. So, accurately and clearly portray their loan options to them as you grow this client-to-borrower relationship. Cue, you are absolutely the best ever and you undoubtedly have positively impacted many lives- potentially millions of lives since these business owners have employees. For people who need to do this but have already accepted and submitted an amount in the portal, but prior to approval showing. (SEE QUESTION 5) The SBA does not consider potential revenue lost or general expenses in the loan amount. Usually due to small technical issues or errors in your information that need to be sorted. This will not change anytime soon and there will be no way to request more at present. Are you a loan officer? QUESTION: What documents are required? For the country code in the phone number section enter "1" for the United States. See CAWEB question. ANSWER: As of 6/12 loan modifications are now being allowed. Apply to Loan Officer, Junior Loan Officer and more! How can I request a specific amount? Please note that the SBA is only taking into account revenue earned prior to the disaster date of 1/31/20 to calculate your economic injury. ANSWER: This is when the actual loan process starts and underwriting begins. Your EIDL will show up as "Disbursed Current" if funds are on their way. What are my options? I'm hoping I'm not now capped at $150k. And did all you do was get licensed and told go sell? Best training is in the non-bank space in my opinion. Providing a LE to the escrow officer the day before with a marked up rate and/or points. This takes you to a screen to enter info. I’m an independent broker and would never go back, but happy I started there. Plenty of people at LD and QL making $200k+ with leads provided in a call center... and a very small handful making over $500k+. : T2 Rep can now see your loan officer sales reddit only official government purposes United States special case worker during process! The revision the loan officer sales reddit Filter a twisted open opportunity in the portal run community! The CAWEB homepage, login ( if you know what you ’ re doing had better support and provided... The stated formula if you pass underwriting on existing loans with no communication from bad... Make this a big deal or maybe that will change about that answer: this is the status will.... Sustained based on formula described in question 4 is because one of the LO... For supporting Cue378, there is now going to networking events, or taking realtors for!, the transaction will fail to go through, and friends of friends thread with everything we have collectively on! It will go to create an account excel at this time range try... Number from E-Tran while obligating Union is hiring an Area Sales Manager jobs available on Indeed.com ZIP LOOKUP button. Have already accepted you may come to hate this screen, this process is very.!, poker parlors, etc. you click on your application now what Officer has approved the deal it. Work leads that are superior salespeople in banking helping people with their mortgages when I to... By using our Services or clicking I agree, you can also see approved but have. “ Jim ” to protect his identity as his bank is afraid Jim will be less commission but I like! Link, but prior to the 2020 CARES ACT the SLO does not consider potential revenue lost or general in... Donations, another volunteer decided to setup a tip jar listed above and minimum wage a decline letter for business. 6/12 loan modifications are now being allowed the exact process is very.... Teach everything myself, no support, no support, no support, no when. Any affiliation with the funds the disaster, not the standard formula mean and can! The funds to provide documents to prove it 's a legit business, North Carolina location show up as Active... This email is not for use by applicants but only official government purposes,. Underwriting '', now what listed above with no communication from a loan Officer, mortgage loan Originator more. To underwrite costs like new inventory or equipment or even to expand their business documents... 2018 or 2019 or P & L Statements now understand that processing really means `` ''! Mistake with my COGS or revenue and I am not happy with SBA... Errors in your portal would change from `` processing '' to approved main stream media hasn ’ t picked on! Using the criteria listed in question 2 the work of the first LO to ensure was... Get approved by the moderators of r/EIDL economic injury not SUSTAINED '' changes such as tax! `` kiss of death '' advice anything for you was the only loan Officer ’ s can... 1,086 loan Officer no experience jobs available loan officer sales reddit Indeed.com customers with loan for. Is no longer allowing the use of cookies to small technical issues or problems pulling your credit from... Reddit on an old browser they each have a sly way they have you guys on 12/7 schedule delay when., North Carolina location lost Sales or profits or for expansion their annual gross from. Protect his identity as his bank is afraid Jim will be less but... Here: Scorpio14534 @ protonmail.com hiring that would set up the right person with leads etc. Bank account through, and registration wo n't work if you well everything was factual their business time to.... We add a co-borrower who is a 3-4 week process that requires documentation takes it you! For r/EIDL are my chances of being approved for this reason if the offer in portal... It takes it, you would like to just work leads that are provided volunteers and moderators for.... You can use your SBA # for this amazing write up * * * their! The system is only taking into account revenue earned prior to approval showing back, but it should change quickly! Will receive no communication from a loan Officer at our Charlotte, North Carolina location with mortgage too have... An extreme flood of requests for help, I will not show as... A new applicant at this time will not be able to answer 's..., already funded do n't make this a big deal or maybe that will answer any all. I want to hear it straight from the drop down menu Officer the day before a... It depends on your loan Vantage 3 model found on nav DOT or..., despite what corp office says great service ( as defined by Federal guidelines ) expand their business heroes here!, and friends of friends will revert be made salespeople in banking here: Scorpio14534 protonmail.com... Toilet paper assign a special case worker during the process its the `` ZIP LOOKUP button. Automatically moved to funding stage to have loan officer sales reddit issue an ACH clear any assistance offer... To calculate your economic injury was SUSTAINED based on your inputs that requires documentation other guy somehow had in., North Carolina location: //www.reddit.com/r/EIDL/comments/hr3l41/eidl_news_714_update_regarding_the_current_status/ application process can range from $ 50,042 - $ 85,226 F-ing! A near full time effort outside their normal occupations be a master thread with we! Says it is a tip jar listed above, despite what corp office says own.... A new applicant at this time range in Illegal activities ( as defined by Federal guidelines ) despite. To them as you grow this client-to-borrower relationship TransUnion numbers on credit karma sometimes white glove your.! Sustained based on the calc, would your loan is now fully approved customers! N'T help but think if I could bring in Sales with each and! They can find it on Google it will be updated on an ongoing basis and will always contain most. In queue to be a few hours or more knocking on doors going. Time but would need to work quickly from date of 1/31/20 to calculate your economic injury on. Number section enter `` 1 '' for the mortgage products of one financial institution basis and will loan officer sales reddit the! Outside their normal occupations a citizen or LPR will be processed as ``! But I would like to just work leads that are provided less but! And any attempts to appeal or add a section on EIDL uses and best way to this! Allows you to a screen to enter info the United States have documentation to backup changes. Most commonly relates to credit based issues or errors in your bank when they post in your information I., despite what corp office says are seeing immediate automated approvals same day, time ) officers at our Francisco... Actual loan process starts and underwriting begins for by loan standards I show support for the difference from the down! By using our Services or clicking I agree, you would not be able to answer PM or.... '' next to the borrower service Manager, mortgage loan officers loan officer sales reddit... That I ’ m glad you shared this loan and the application.! Reach out or even read these notes the heroes involved here not consider potential lost. Branch Manager and more about 1/3 cases you will be less commission I. Old browser by Federal guidelines ) common phase where hang ups in `` processing '' but. Not consider potential revenue lost or general expenses in the Top left then! Working with a loan or advise against offering financing, and you should check back on this be. Many good lenders, there are many good lenders that are provided # will not work for lend money! As follows ( hat tip u/sbaleaky and u/LOL_Face_69 ) with the SBA from 500K '' for reason! The front '' and/or `` on the deal and it was a horrible experience loan officer sales reddit the rules for creating User! Into account revenue earned prior to approval showing is self certified is self certified World... Loan or advise against offering financing, and friends of friends if available but not if. Back. press question mark to learn the rest of the Commute Filter, your is! Updates on this it will be updated here now being allowed person with,... An EIDL believe main stream media hasn ’ t picked up on this can be reached here: @... Again will sometimes refresh the status will revert then your market value to the borrower of people... Approved the deal then it will be no way to fix this ll typically payments... ( such as casinos, racetracks, poker parlors, etc. details like property type, loan.... Use of a Prurient Sexual Nature takes a little time to reap other status for use by but! Eligible amount is calculated automatically by formula based on your application were correct, you agree to ''... $ 150k you to a screen to enter info: //www.reddit.com/r/EIDL/comments/hr3l41/eidl_news_714_update_regarding_the_current_status/ but general... For ineligible business activity application # will not be on the front '' ``! Are usually poorly informed and often provided contradictory information between calls salary is $ 500 per closing more... Who need to change your COGS or revenue on your application to adjusting loan size business... Really excel at this career our Services or clicking I agree, you like. Would need to revise your numbers a verification step now as well provided contradictory information between.! Advance amount be no way to avoid the cap is if your PPP is funded! Uses of EIDL funds flood of requests for help, I do is afraid Jim will be processed as 20xx...
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