Overall, based on your post, I do not feel you are a good fit for the mortgage business. 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. There may be a delay between when your offer is obligated to when it actually shows approved. While I do not ask for donations, another volunteer decided to setup a tip jar in case people want to show their support. This only happens in rare cases. QUESTION: How do I show support for the volunteers and moderators for r/EIDL. This is the most common phase where hang ups in "processing" can error called "error in obligating". Team lead /Sr Mortgage Loan Officer (Former Employee) - San Diego, CA 92130 - June 10, 2019 Good place for someone to start their career. Some are seeing immediate automated approvals same day, this only happens in around 30% of cases. Ever figure out how they get to that level? 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. Can I still get a grant? If you made an error you can request an amendment and reactivation of your application. You are NOT "stuck" if you are still within this time range. Guidelines, reading credit reports, how to take a mortgage application.... did your place do anything for you? For user type - select "borrower" from the drop down menu. Otherwise you may have to provide documents to prove it's a legit business. If they can find it on google it will suffice. I'm talking about having to learn everything and teach everything myself, no support, no answers when questions asked. 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. Everything takes a little time to solidify and yield results. 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. Good Luck to everyone. 20. PenFed is hiring an Area Sales Manager, Mortgage Loan Officers at our San Francisco, CA location. Commercial loan officers work specifically with businesses. QUESTION: I was declined for "unsatisfactory credit". QUESTION: When will I get my portal invite? My loan as obligated or already funded, I made a mistake with my COGS or revenue and I am not happy with the amount. He would get all the rejected borrowers that couldn't get approved by the builder. 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/. If your banking info didn't verify, the transaction will fail to go through, and the status will revert. The proper time is prior to accepting. ANSWER: Yes, the SBA treats congressional inquiry very carefully and will flag and sometimes white glove your application. ANSWER: You can use the Capital Access Finance System to track your EIDL after your documents have been signed and submitted through funding. What is CAWEB and how can it help me track my loan disbursement and other status? ANSWER: Portal invites are a fully automated process and not strictly sequential but follow general group patterns. Thanks for the long hours i know they have you guys on 12/7 schedule. share. Lending is a competitive business. Your application will be assigned a loan officer for review using the criteria listed in question 2. Most are very nice and well meaning people but are usually poorly informed and often provided contradictory information between calls. Often they will assign a special case worker during the process. ANSWER: As of last update it is currently 150K cap. QUESTION: Does contacting my congressmen or senator actually work? 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. If you don't have a landline, it has been reported that just entering your mobile number in both fields works. 276 Loan Officer Inbound Sales jobs available on Indeed.com. They are telling people to accept the offer in the portal to speak with a loan officer to make the revision. How can I request a specific amount? Can we add a section on EIDL uses and best way to track? Write your exact ID & password down somewhere - if you ever get locked out and call the SBA for help, they are going to tell you that Borrowers are not supposed to be able to access CAFS CAWeb. 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