How to Manage Brokered Loans?

Get status updates and loan documents for brokered applications

Accepting A Broker Offer and Sending Loan Documents:

If you would like to accept the broker offer, make changes to the loan, or have loan documents sent to the applicant you must email info@purefinancegroup.com  or call 410-401-4957 to move forward.

Financing Flow Chart-broker

Broker Status and Notification:

If your application is being brokered, you can see the application process status from your lending portal pipeline. In this case, the decision will take longer to come back because we are sending it to another lender in our network. It could take up to 30-40 minutes for a decision to come back. broker status

You will also receive an email notification when the loan application has been brokered and awaiting a decision:

broker notification

 

Broker Approval Notification:

Brokered application approvals can be seen from your "My Apps" pipeline from the "Dealer Fee Tier" columnbroker status in apps

If a brokered loan is approved you will receive a counter-offer email notification stating lender the broker approval is with and the loan offer details.

broker template 5.2

 

Changing Broker Offers

To make changes to the brokered loan offer

email info@purefianncegroup.com or call 410-401-4957

 

Sending Loan Documents For Brokered Offers

If you wish to move forward with the loan and send the loan documents to the applicant, please email or call our office and we will have the loan documents electronically sent to the homeowner for signature. 

410-401-4957

info@purefinancegroup.com

You can see when the applicant has been sent and completed signing the loan documents from your lending portal in the contract prep tab.

 

Getting Brokered Loans Cleared To Order Status:

  • Documents must be sent to and signed by the applicants
  • Any required stipulations (additional applicant verification documents) must be satisfied by emailing the stipulations to our office at info@purefinancegroup.com
  • In some cases a preverbal verification is required for brokered loans, this means that the homeowner will be called to verify their information for the loan, or they can call us to clear the preverbal stipulation.

If a preverbal (verbal pre-verification) is a required stipulation,  let the applicant know they should expect a phone call from the broker lender noted in the comments section of the approval email notification.

broker stips 5.2

 

Request Funding:

If the loan is in clear-to-order funding status, and the work has been completed, you can use the lending portal to request funding for that loan.

requesting funding img