Upon receipt of all required documents, BankDirect completes underwriting process and sends offer letter to producer
Borrower accepts offer letter
BankDirect conducts phone call with client/borrower for introductory purposes
BankDirect sends formal loan document package to producer for borrower signatures
Producer returns signed documents to BankDirect. BankDirect sends collateral assignments to life insurance company for signatures. BankDirect secures any required collateral pledged by borrower.
Life insurance company returns completed assignment to BankDirect. BankDirect releases loan proceeds to life insurance company.