On February 3, 2006, we were approved for an SBA loan.
On Februay 20, after meeting and consulting with William Janssen, an SBA loan officer working at the St. Charles Avenue FEMA/SBA center, I sent in documentation to the SBA asking for a loan re-evaluation. The original loan determination, largely an automated process, was based on rebuilding my home. I wanted to relocate rather than rebuild. Mr. Janssen faxed to the SBA the following: a demand mortgage payment letter from our mortgage company based on our desire to rebuild, a request for a copy of the SBA “verification of loss” statement that determined our loan amount, and a personal letter asking for re-evaluation of our loan based on significant discrepancies ($65K) between the SBA loan amount and the SBA loan derviation formula (provided by Janssen).
On March 10, I called the SBA 1-800 number and verified that these materials had been received on March 8.
On March 13, my wife visited with Janssen at the FEMA/SBA center and was told that an agent for our loan re-evaluation had not yet been assigned.
In a March 21 meeting with Janssen, we learned that the deadline for signing SBA loan materials had been extended from 60 days to 6 months – or August 3 in our case.
During April, we visited the FEMA/SBA office on Williams Blvd in Kenner and, based on the advice of the SBA loan officer there, again submitted (by fax) a request for re-evaluation of the loan and a request for a copy of the “verfication of loss” statement. We received a copy of the “verfication of loss” statement based on our “Freedom of Information Act/Privacy Act (FOIA/PA) request” on April 18.
We received nothing concerning our loan re-evaluation request. The SBA offices in New Orleans on St. Charles Avenue and in Kenner on Williams Blvd closed.
May.
June.
On June 8, I called the SBA 1-800 number to speak with their legal department about our request for a loan re-evaluation. I was told a loan officer was “yet to be assigned.”
On June 25, I called the SBA 1-800 number to speak with their legal deparment about our request for a loan re-evaluation. I was told our loan had been assigned to “Team #6.” I was also told that a possible reason why our loan re-evaluation had not been assigned to a specific loan officer was that we had not submitted a contract to buy another house. I said that I was unable to buy a house until I knew the final amount I would receive from the SBA loan. I was told that “an email would be generated” to further our request for re-evaluation.
On July 8, I called the SBA 1-800 number to speak with their legal department about our request for a loan re-evaluation. I was told that our loan had been assigned to Richard Bayless, ext. 5631. I asked to be connected to Richard. Richard told me that he was involved with closing loans based on purchase contracts submitted to the SBA. I told Richard that I was unable to buy a house and submit a purchase contract until I knew the final amount I would receive from the SBA loan. Richard said that my loan had been held up because of my request for a relocation loan and that the “boxes had not been checked” to indicate I wished a loan re-evaluation. I asked Richard to check the boxes. He said he would and that I should talk with the supervising attorney for Team #6 to speed up my loan re-evaluation process. Unfortunately, said Richard, the supervising attorney for Team #6 was no longer available and a new supervising attorney was yet to be assigned. Richard said that I should call back on Monday.
On July 10, Monday, at 10 a.m., I called the SBA 1-800 number to speak with their legal department about our request for a loan re-evaluation. I asked to speak with Richard Bayless, ext. 5631. Richard’s extension was busy. I was connected to a voice mail machine. I left a message. I was disconnected.
On July 10, Monday, at 10:32 a.m., I called the SBA 1-800 number to speak with their legal department about our request for a loan re-evaluation. I talked with “Brian” in the legal department. I gave Brian my name; I gave Brian my SBA loan application number; I requested a re-evaluation of my SBA loan. Brian said that nothing could happen until I submitted a purchase contract on a new home. I said that I was unable to buy a house and submit a purchase contract until I knew the final amount I would receive from the SBA loan. Brian said that nothing would happen until I signed the original loan documents, which I received on February 2. I said that I believed these documents were in error and requested a loan re-evaluation. Brian said that any re-evaluation would have to take place after I had signed the original loan documents. I asked if I could I speak with the supervising attorney for Team #6. Unfortunately, the supervising attorney for Team #6 was "Kevin Woods," but Kevin Woods is no longer available. And a new supervising attorney for Team #6 is yet to be assigned.
Brian referred me to “Don.” Don said that he understood my frustration and that SBA was receiving a lot of loan applications. Don asked if he had my cell phone number. I said my cell phone number was on the original SBA loan application. Don read me my cell phone number. My cell phone number on the original SBA loan application was correct. Don said he would get back to me.
