Update on DCU for those that care:
BLUF: DCU has a lot of red tape, checks, and procedures that introduce latency to their lending process, making the whole ordeal much more difficult than I would have expected for a professed online banking institution, but their employees are ON POINT, and will seriously bust their humps to assist you (once you can get them on the phone).
With delivery looming tomorrow morning (and confirmed by phone today), I needed to get my MVPA to DCU and get the photos/tracking info of the loan check to Tesla by today. What I didn't realize were that there were several intervening steps in there, but I'm glad to say that the fine folks at DCU really took care of me, despite the ridiculous wait times for call ins.
First, this morning I actually got a call from a rep telling me they needed the MVPA, and talked me through the process. I got off the phone and contacted my SA, and he provided me with an updated MVPA (changed from previous lender to DCU) by 0930. I used both the DCU doc submission email I was given as well as the automated doc submission tool on their website to upload it. Gave it another hour to process (recomendation by the first agent I spoke with), then called back knowing I would be waiting another 2-3 hrs for a callback to speak with an agent.
The callback indeed came about 2 hrs later, and I spoke to another agent, and explained my time sensitive situation. He looked over the loan, ran through all the disclaimers they need to verbalize, locked in all the details, and told me that they needed to send me the disclosures agreement to docusign, and after I signed it, their team would need to process, have others print the check (the agents on the phone are mostly telework), then send the check to the mail dept where it can be scanned. That sounded like at least 3-4 different opportunities for lag to me, any one of which could blow my carefully choreographed timeline. That said, the guy I was speaking with basically stayed on the phone, got his booking agents approval in real time, walked me through the docusign, and then assured me I'd have the check scan and info by COB. We hung up at 1430, and I had the scan and info by 1445. If I could buy this guy a beer, I would, because he was the man.
To folks who aren't embroiled in this process already, it felt like in normal circumstances where the borrower isn't hounding their folks every step of the way, it would realistically take 4-6 business days from application to when you're fully approved and a check is mailed, and that doesn't include the membership application, which had already taken me 2 (and would have taken longer normally).
I got it all to my SA and made the small remaining payment through the app, and I'm 100% green lit for delivery tomorrow. <fistpump>
Hope that helps people considering DCU. Sorry for the wall of text.
BLUF: DCU has a lot of red tape, checks, and procedures that introduce latency to their lending process, making the whole ordeal much more difficult than I would have expected for a professed online banking institution, but their employees are ON POINT, and will seriously bust their humps to assist you (once you can get them on the phone).
With delivery looming tomorrow morning (and confirmed by phone today), I needed to get my MVPA to DCU and get the photos/tracking info of the loan check to Tesla by today. What I didn't realize were that there were several intervening steps in there, but I'm glad to say that the fine folks at DCU really took care of me, despite the ridiculous wait times for call ins.
First, this morning I actually got a call from a rep telling me they needed the MVPA, and talked me through the process. I got off the phone and contacted my SA, and he provided me with an updated MVPA (changed from previous lender to DCU) by 0930. I used both the DCU doc submission email I was given as well as the automated doc submission tool on their website to upload it. Gave it another hour to process (recomendation by the first agent I spoke with), then called back knowing I would be waiting another 2-3 hrs for a callback to speak with an agent.
The callback indeed came about 2 hrs later, and I spoke to another agent, and explained my time sensitive situation. He looked over the loan, ran through all the disclaimers they need to verbalize, locked in all the details, and told me that they needed to send me the disclosures agreement to docusign, and after I signed it, their team would need to process, have others print the check (the agents on the phone are mostly telework), then send the check to the mail dept where it can be scanned. That sounded like at least 3-4 different opportunities for lag to me, any one of which could blow my carefully choreographed timeline. That said, the guy I was speaking with basically stayed on the phone, got his booking agents approval in real time, walked me through the docusign, and then assured me I'd have the check scan and info by COB. We hung up at 1430, and I had the scan and info by 1445. If I could buy this guy a beer, I would, because he was the man.
To folks who aren't embroiled in this process already, it felt like in normal circumstances where the borrower isn't hounding their folks every step of the way, it would realistically take 4-6 business days from application to when you're fully approved and a check is mailed, and that doesn't include the membership application, which had already taken me 2 (and would have taken longer normally).
I got it all to my SA and made the small remaining payment through the app, and I'm 100% green lit for delivery tomorrow. <fistpump>
Hope that helps people considering DCU. Sorry for the wall of text.
Tigers
