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  1. #1
    Quote Originally Posted by MCA-VET View Post
    Ben - I dont think anyones deals die in the hands of lazy underwriters --- one would make the case deals die when UW's are not lazy... but certainly not getting killed by being lazy....
    No, they aren't getting killed by laziness, they never see the light of day though...
    UW's looks at the deal 2-3 hrs after submission. Gives offer. Accepted offer needs approval from the head underwriter. ETC ETC ETC...
    Ben Blumenfeld | Head Iso Manager
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    ben@acreadvance.com
    Acre Advance
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  2. #2
    Senior Member Reputation points: 124096 BR-Nightmare's Avatar
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    Quote Originally Posted by Ben@Acre View Post
    No, they aren't getting killed by laziness, they never see the light of day though...
    UW's looks at the deal 2-3 hrs after submission. Gives offer. Accepted offer needs approval from the head underwriter. ETC ETC ETC...
    Many of the top funders have underwriting see the file when contracts are signed, and some do it upon submission. Yes, time does kill deals but so does being unprepared with your submission and/or asking for $100k offer for a deal the qualifies for $20k.

    I've done $20k deals that took a day or two and I have done a $500k within hours. I can tell you out right laziness was not a factor on each deal on my end.
    The Brokers Nightmare
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  3. #3
    Quote Originally Posted by BR-Nightmare View Post
    Many of the top funders have underwriting see the file when contracts are signed, and some do it upon submission. Yes, time does kill deals but so does being unprepared with your submission and/or asking for $100k offer for a deal the qualifies for $20k.

    I've done $20k deals that took a day or two and I have done a $500k within hours. I can tell you out right laziness was not a factor on each deal on my end.
    You could not have said it any better!!

  4. #4
    Quote Originally Posted by BR-Nightmare View Post
    Many of the top funders have underwriting see the file when contracts are signed, and some do it upon submission. Yes, time does kill deals but so does being unprepared with your submission and/or asking for $100k offer for a deal the qualifies for $20k.

    I've done $20k deals that took a day or two and I have done a $500k within hours. I can tell you out right laziness was not a factor on each deal on my end.
    True, when all parties involved want to get the deal funded, things move along quickly.

    Not all funders have their underwrites motivated enough though...
    Ben Blumenfeld | Head Iso Manager
    Direct Lender
    ben@acreadvance.com
    Acre Advance
    (732) 284-2054

  5. #5
    Quote Originally Posted by Ben@Acre View Post
    True, when all parties involved want to get the deal funded, things move along quickly.

    Not all funders have their underwrites motivated enough though...
    That's true too.
    We do underwriting after contracts are requested.

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