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| Step One |
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Complete the Loan Application |
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This is the basic information that we use to begin the qualifying process
for our client's financing. Our loan Originators typically fill
in this information for each client. In the future, our clients may
enter the data themselves. |
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| Obtain the Pre-Qualification Results |
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Our system queries our proprietary database of loan programs and returns
the pre-qualification findings instantly! If there is ever any trouble
obtaining a pre-qualification through our automated system, the client's
information can be sent to our underwriting department for a manual pre-qualification
within 48 hours. |
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| Step Two |
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Selecting the Loan Program |
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Springwater Capital's proprietary search engine lists all the loan
programs that match the criteria specified in the loan application.
It is at this point that we can evaluate all of the different loan
options that are returned to us. We may find that some loan programs
have a higher interest rate, but charge lesser fees. Other programs
may have lower rates, but require far longer to underwrite and
close the loan. We take all of this information into account
to help us determine the best solution for our client's needs. |
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| Step Three |
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Evaluating the Loan Options |
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Once we have selected the top two to four loan scenarios, we can plug
them into the Loan Analysis tool for evaluation. By reviewing the results
of this calculation, we can see the bottom line cost and tax savings for
each specific loan scenario we have chosen. This helps us make the best
decision in selecting the right loan program for our client's needs. |
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| Processing the Loan |
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The next step is to send our client the loan application
paperwork and disclosure documents. This is handled through
a secure document exchange that assures no one else can view this
highly sensitive information. Our client's review this paperwork
with the Loan Originator, and then fax the necessary documentation
back to us. |
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| Springwater Capital then sends service order requests to all of
the third party service providers needed to close the loan transaction.
By following the outline set up for us in the Springwater Capital
Origination System©, we take our clients step by step through the
approval process to get them to the closing table - usually in less
than two weeks! |
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| Step Four |
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Login Credentials |
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As the financing process begins, the client receives an email with
a login and password. This information gives them access to the secure
section of the web site. It is here where they can track the progress
of the loan, and leave comments in the Notes Log. |
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| Tracking Your Loan |
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Through Springwater Capital's online Loan Tracking system, our clients
will always know if their loan is really being worked on. They can
log into the system and see the loan status in real time! The Loan
Originator, loan assistant, and processor all update the tracking system
in real time as the various financing procedures are performed and completed.
We make an estimate of the loan closing date, and empower our clients
to supervise the process and see if we are staying on task! |
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| Notes Log |
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As Springwater Capital works on a loan, the client may be contacted
from time to time to help answer questions, or to share new information.
They may also want to communicate with their Loan Originator as items
come up that need clarification. The Notes Log is set up to
manage all those communications. Whenever the client or Springwater
Capital adds comments to the log, everyone responsible for the loan
transaction, including the client, is sent an email with the text
of the latest updated note. |
