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- Credit Union/Broker/referral source submits proposal with supporting documentation.
- League Savings and Mortgage will review the proposal. If League Savings and Mortgage is willing to consider an application, a Preliminary Letter of Interest (PLOI) outlining our initial terms and conditions (within 48 hours) will be issued.
- Client reviews League Savings and Mortgage Preliminary Letter of Interest and if the client decides to proceed, returns the signed acknowledgement with the initial non refundable portion of the commitment fee.
- If the client has any concerns or matters requiring clarification these should be addressed with the Commercial Mortgage Specialist.
- League Savings and Mortgage proceeds to complete the underwriting process with subsequent notification to the borrower of approval by way of a formal commitment letter which is to be signed and returned to League Savings and Mortgage.
- Note: Our underwriting process includes a site visit, which can be arranged at the convenience of the applicant.
- Upon acceptance of terms and conditions by League Savings and Mortgage and the client the mortgage package is sent to the Solicitor for closing.