Just Cue being Cue. 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. 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. ANSWER: You can use the Capital Access Finance System to track your EIDL after your documents have been signed and submitted through funding. If you see someone that has a higher number than you get a portal invite it does NOT mean you were "passed over". Loan officers get paid in a way that they call "on the front" and/or "on the back." Click on "Borrower" in the top left, then click on "Borrower Search". Others in my office would wait til closing before F-ing the clients over. If any member, partner, or shareholder, owning 20 percent or more of the applicant business is in the USA they must be a qualified alien. -If economic injury was sustained based on formula described in QUESTION 4. But I will tip him anyway. SBA loan #'s are 10 digits. We know one of the best that we reported on back in 2014 and thought we would update his production and techniques. Often they will assign a special case worker during the process. What are my options? 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. ****Hat tip to u/tahoechick36 for this amazing write up**. Strong Base Salary + Monthly Commission + Quarterly Bonus; Warm Leads provided daily! 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. They might also deny a loan or advise against offering financing, and they must sometimes follow up on late payments on existing loans. 19. QUESTION: How do I get in touch with customer service phone support? QUESTION: I now understand that processing really means "underwriting", but how long will it actually take? 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." 2 comments. The proper time is prior to accepting. This is the most common phase where hang ups in "processing" can error called "error in obligating". Some people have asked how they can support my efforts. 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. The following applicants are not eligible for EIDL assistance. Concerns engaged in live performances of, or the Sale of Products, Services, of a Prurient Sexual Nature. Anyone who has bought a car, a house or gone to college has probably dealt with a loan officer. Once you submit for processing you are in queue to be assigned a loan officer**. My application says it is "processing", now what? Press question mark to learn the rest of the keyboard shortcuts. Debt. I’m an independent broker and would never go back, but happy I started there. There may be a delay between when your offer is obligated to when it actually shows approved. It takes a great deal work run the community and they are putting in a near full time effort outside their normal occupations. He was the only loan officer in the area that was Armenian so they would trust him. 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. You will have to select 3 of their security questions, enter the Captcha image info, then hit "submit" at the bottom. 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. PenFed is hiring an Area Sales Manager, Mortgage Loan Officer at our Charlotte, North Carolina location. If the numbers on your application were correct, you would not be eligible for an EIDL. How to tell a good company from a bad one? 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. Will a loan officer contact me? Is it too late? Obligating: SLO known as a "team leader" reviews the work of the first LO to ensure everything was done correctly. For more details email me. I started in that space and have been in many parts of the business. 5. 9. This takes you to a screen to enter info. It is simply a potential amount you are eligible for based on the stated formula if you pass underwriting. Thoughts? They are able to check your application status and see the current "stage" and leave notes in your file, but unable to directly make any changes or escalate anything in a meaningful way. Please note, anything donated prior to contacting me in an effort to gain faster help/special attention won't yield those results, while appreciate your support I keep everything fair to others who don't donate. What can I do? Looks like you're using new Reddit on an old browser. 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. PenFed is hiring an Area Sales Manager, Mortgage Loan Officers in Virginia Beach, Virginia. Any loan officers care to tell me about their job? QUESTION: What documents are required? My second loan app # is similar to yours and I am awaiting portal invite. 17. Apparently we still can, so don't make this a big deal or maybe that will change! I have seen it happen in as fast as 10 minutes or as long as 12 hours. So if a T2 says they requested a change do not assume it was or will be made. 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. Obligated: A loan number from E-Tran has been obtained and now closing documents can be drafted and sent to the borrower. 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. They find a twisted open opportunity in the system. I'm glad it checks out. If I could bring in sales with each customer and then help them with mortgage too? I see it every day and people are stuck its the "kiss of death" advice. It allows you to see disbursement status and other details related to your loan. Funded: Process complete, funds are successfully in your bank account. Usually due to small technical issues or errors in your information that need to be sorted. You can contact pdcrecons@sba.gov and request a "Loan Modification increase". This estimate is based upon 8 PENFED Credit Union Mortgage Loan Officer salary report(s) provided by employees or estimated based upon statistical methods. The only way to avoid the cap is if your loan was already being obligated prior to the change by the SBA from 500K. This forum has been so helpful. *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. The important thing here is DO NOT accept the offer in the portal if you need to revise your numbers. Check out the loan officer … 7. 10. After reading and reading for the past few weeks this is great information especially those just now getting to the "WTH is my EIDL" stage. If the SLO does not approve the deal then it will go to declined. Your EIDL will show up as "Disbursed Current" if funds are on their way. 21. Simply unbelievable! Further details and updates on this situation are available in the thread HERE. Would like to give it another shot. If you would like to see more jobs, remove the commute filter. The loans are not intended to replace lost sales or profits or for expansion. Is it too late? The wording ‘obligations that are unable to be met due to lack of revenue’ seems to be a catch all, but how much so? I understand that processing really means "underwriting", but how long will it actually take? What is the status of the Advance/Grant program? Been trying to reach you but unable to send pm. Please read the following. You are a true public servant. Commercial loan officers work specifically with businesses. Bank Loan Officers assist customers with loan applications for things like cars, college tuition, and new homes. They are telling people to accept the offer in the portal to speak with a loan officer to make the revision. Because they brought business in the door. It will be updated on an ongoing basis and will always contain the most current information. A loan officer’s commission can make the difference between a … 8. This "work hard" bull crap isn't what these guys do. 19 days of PTO+ 10 Holidays! Top ~10% pulling in $200k+. Guidelines, reading credit reports, how to take a mortgage application.... did your place do anything for you? 13. We have so many exciting things to offer! 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. If you need to change your COGS or revenue on your application to adjusting loan size. -All owners on application must be either US citizens or Permanent Residents. What is the normal amount of time? It's a pain. What can be done? 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. 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. 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