Two Conway Park, 150 North Field Drive, Suite 190, Lake Forest, IL 60045
1-800-557-3000
Info@BankDirectPF.com

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Day

1

Producer submits required submission documents to BankDirect.

 

Days

1-2

Upon receipt of all required documents, BankDirect completes underwriting process and sends offer letter to producer

Day

3

Borrower accepts offer letter

Day

3

BankDirect conducts phone call with client/borrower for introductory purposes

Day

4

BankDirect sends formal loan document package to producer for borrower signatures

Days

4-7

Producer returns signed documents to BankDirect. BankDirect sends collateral assignments to life insurance company for signatures. BankDirect secures any required collateral pledged by borrower.

Days

7-9

Life insurance company returns completed assignment to BankDirect. BankDirect releases loan proceeds to life insurance company.