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PSA: a single missed signature on an SBA 7(a) cost me 11 extra days
Closed on a $340k SBA 7(a) last Tuesday after a closing timeline that somehow stretched to 61 days. The snag was one personal guarantor signature page that a notary stamped but never dated, so the bank sent the whole package back to underwriting. We resubmitted on April 3 and it sat in a queue for 11 days just for the date to get fixed. My borrower owns a bakery in Boise and had already pushed his equipment order twice. If your closing package has more than two signers, read every date line out loud before it leaves the room. Did your lender ever bounce a full file over something that small?
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oliver18425d ago
The part nobody talks about is that the notary's stamp log is what saved you here, because an undated page makes it look like the signature could have happened anytime, so underwriting has zero wiggle room and has to kick it back. A dated stamp would've let someone push it through as a fixable note instead of a full re-review. Tell your borrower to have the notary write the date next to their stamp too, not just on the line.
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