Conforming and Non Conforming Products
- Send in all required items on the checklist
- You can download the checklist via www.shooploop.com/checklist
- The checklist can also be faxed, emailed or sent to vis USPS
- Once all items are received our staff can begin processing your file and prepare it for submission
- Submitting your loan
- You can submit all you checklist items online once you oppen up an account
- You may also send your checklist items to 355 S. Grand Ave Suite 2450 Los Angeles, CA 90071
- You may also fax your items in to 213-210-2267
- Tracking
- Login to your account and see where you are in the loan process. You can call anytime to speak with a Shooploop representitive at 888-656-5552
Private Equity Products
- To be considered on a case by case basis
Your file under review
Once the checklist items are received, our staff of underwriters will review your documents and make sure they coincide with investor guidelines and banking regulation. Once pre-qualified your full loan package will be submitted to the lender.
The checklist items will be reviewed by the lender in accordance to which loan product is selected. The file is then screened by our investors. Once an official approval has been issued a set of new lender/investor disclosures will be mailed to the borrower's primary residence.
An appraisal will then be ordered by the lender. Due to recent HVCC regulations the appraisal has to be ordered 3rd party through an appraisal management company. An appraiser is selected at random and will contact the borrower directly to schedule an appointment. Payment has to be made through the lender, paid for by the borrower and can be credited to the borrower at closing.
Once the appraisal has been completed and returned back to all parties a final QC review is ordered. Once completed, loan documents are drawn up and sent to escrow. A mobile notary is then hired to contact the borrowers for the official signing and notarization of the loan docs. Once received, the documents go in to one more final QC review. Once completed the investor than wires the funds to escrow and the loan is officially funded! Escrow than records the new trust deed and the loan process is now completed.