First Financial will continue to process loans
Please be advised that during the Government shutdown First Financial will continue to process loans as if the Government were open!
First Financial has been through a few Government shutdowns in the past and because of this they know what they have to do to keep the process moving and be ready to close/fund all loans in process as soon as the Government is back up and running. As of today
First Financial was told that the Lenders are now receiving tax transcripts slowly but receiving them nonetheless. This was one of the issues with SBA funding due to the Government shutdown so this is great news. The only other issue is the request for the SBA Funding number which is needed in order to close and fund all SBA loans.
First Financial will continue to gather all the required documents needed for Bank Approval as well as any and all additional documents needed to move the file to underwriting then on to closing. Once the file is signed off on by the underwriter he/she will move the file to closing where it will be assigned a closer and she will send out the final closing checklist of items needed to prepare the loan for closing and funding until such time they are able to request the SBA Funding Number.
While the closer waits for the Government to be back up and running the file will be placed in a que and the moment the Government reopens, the file will immediately be submitted to the SBA for the assigned Funding Number which will allow the closer to schedule the loan for closing and funding.
First Financial knows the players on both sides of SBA. The Bank has told
First Financial that their files will be processed first with the exception of any Military/Veteran loans, which is totally understandable since these men and women sacrifice everything for our freedom.
We hope this post will give you a better understanding of our commitment to you our Referral Source and what
First Financial is doing to keep your loan requests moving along during the Government shutdown.