OK, I’ve sent all the signed documents. When can I expect the transaction to fund?
Several more items need to be accomplished before we can fund. We require a certificate of insurance from the client’s insurance agent. Getting this sometimes creates delays if the client hasn’t faxed the documents having to do with insurance to his agent promptly. Our Office Manager will review with you any missing items which might include a check for the first payment or security deposit, original titles to the collateral, documents missing signatures or initials, failure to have the signatures witnessed by a third party, etc. Once everything has been received, including a recorded deed of trust if real estate is used, we will perform a verbal D&A with each signatory on the contract. It is imperative that your applicants understand this.
