Understanding Eagle Loan Processing…
STEP ONE: Become an APPROVED Eagle Referral Partner (You may submit loan requests before receiving approval):
- Click blue Become an Approved Eagle Referral Partner Link for more information.
- Click FREE blue Get Started Link. It takes less than 3 minutes to submit your request.
- Within 48 hours, we will email your Eagle Referral Partner Agreement, W-9 and docs required to wire your fees to your bank account.
STEP TWO: How to find more information and likely terms about our loan programs:
- Go to www.eaglecfs.com
- Find the white drop down boxes near top of website homepage (Residential Rental, Multifamily, Commercial, Refinance & Cash-Out, Rehab & Construction, Hard Money Bridge and Eagle Referral Partner Program)
- Links below drop boxes give more information and likely terms for one of our loan programs. Use these links to better understand what you can now offer your borrowers. Direct borrowers to www.eaglecfs.com or email them relevant links.
- All links provide current information
STEP THREE: Your online loan request:
- Click black Get Funded box near top right of the page
- Scroll down
- Click the relevant black box
- Click through the questionnaire. It takes less than 4 minutes to complete. No Social Security Numbers, credit card, credit pulls or upfront fees are required.
- Best for referral partner to complete form. Call client and ask him/her the questions if you need their help. Doing it this way speeds up the process and is another opportunity to build trust with the borrower.
- Eagle will immediately receive your completed online loan requests
STEP THREE: Eagle send you or your borrower a PRE-APPROVAL LOI & Eagle Agreement or a soft turndown within 48 business hours.
- Turndowns briefly explain why loan request was turned down
- It often offers suggestions how to restructure the loan request so it will be approved.
- Most turndowned borrowers and Referral Partners actually thank us. They appreciate saving money, avoiding bad deals and wasting time completing applications for loans that won’t close.
- Important: you will only get paid for loans that close. Avoid low probability loans unlikely to close. Focus on high probability loans. We will help you focus on the right loans (see Eagle Referral Partner Success Tips).
STEP FOUR: We will send you or your borrower a loan doc request when upon receipt of borrower’s signed PRE-APPROAL LOI and Eagle Agreement.
STEP FIVE: We will review submitted loan docs for accuracy, missing docs, mistakes and legibility. We will either contact the borrower or you to clean up the docs. Most commercial mortgage brokers submit whatever a client send them. The probability of success is much better with an honest, strong loan package.
STEP FIVE: Borrower asks question and/or signs term sheet.
STEP SIX: Appraisal is scheduled and paid for by borrower.
STEP SEVEN: Underwriting
STEP EIGHT: Closing
STEP NINE: With three days notice, we will wire your fees by ACH the first Friday after the Title Company or Closing/Settlement Attorney wires our fees to our bank account.
STEP TEN: Rinse and repeat as often as possible to increase your earnings…
Please email email@example.com, text (609) 417-9031 or call 856-353-3430 during Philadelphia Business Hours if you have questions or need our help.