Funders want the contracts signed first because of the nature and cost of the funds. It's natural for inexperienced or just generally poor salespeople to say anything to a client (promising low rates, long terms, unrealistic advance amounts), just to get the application in and get an 'approval'. I can't tell you how many reps I've seen do the touchdown dance and run around the office telling colleagues what a great salesperson they are because they got a client approved. What they don't tell everyone - is the deal hasn't even been sold yet.

UW is expensive and time consuming, and lenders know that most people are not agreeable to the rates and terms. This is why they want the client to jump that important hurdle FIRST, and make sure the deal is SOLD, before they dedicate these resources.

Set expectations with your merchant - about the process - and SELL THE DEAL. You'll never have another complaint from a merchant about additional information you need. Be a salesman and a consultant, not an order taker.