Update 4: It appears the process is moving along nicely now and within 24 hours of the inquiries I did receive a phone call from an individual who is directly handling my request. My contact person so to speak. His name is mike.
But worth mentioning, they do not have a direct phone number or email so it’s not like you can contact them at will. Well you can, but you have to call the main number and then ask to speak to them, and if they are available great, if not, they submit a request to have him call you back.
I did have to contact him twice and he called me several times so I would say I’m very happy with the speed at which it is moving along now. However I cannot say whether this is normal or whether my email to the CEO did indeed push things along faster than normal.
I would venture to say that had it not been for that glitch, the process would have went much smoother and most probably anyone else will not encounter the initial issues I had. But at least if you do, you will now know the correct procedure to deal with it.
It was quite an interesting day today with my income verification. He said my debt to credit ratio and credit scores were fine and had I been receiving normal income the process would probably be over with by now.
I will admit my income is not the norm and as such I took the liberty of sending them 12 months worth of bank statements as well as doing a refined search showing only deposits for the year to asssit them in seeing the income without having to pull out a calculator and go by each month to figure it all out. They only requested 6 months but I kind of knew this would “maybe” be an issue so I over killed it.
Most of my income is based off the sale of my business on a 10 year installment agreement and they are complicated tax returns that includes capital gains. Anyone familiar with the idiocies involved in capital gains as it is related to a tax return and you’ll know immediately what I mean.
Factor in the sale of a business that had a mixture of customers and assets and the calculating is done in such a very weird, complex and bizarre manner, it could all just as well be written in Latin. So it’s perfectly understandable that they needed more info.
Mike is the type of guy I really like to deal with. Fact is the type of guy I would really like just talking to in general. Down to earth, very approachable and you can talk normal with him. He was not pretentious by a long shot. Not like some lenders that sit up on pedestals and look down upon you or have authority syndrome. Mike was very professional and business like, while at the same time, being logical and sensible and realizing there is a world in between those two.
I hope to hear something tomorrow and if so will update.
wow, thats a huge loan, congrats on it going thru!! Ive heard that the Sofi process can be a but longer than most, but the outcomes are usually positive.