I would urge all my fellow business owners here that these decline emails going out since last night is nothing but a system generated response. I design softwares for a living. I know this subject very deeply.
I can tell reading all these threads since last night that (1) yes, the loan software has detected that some information/document is missing from the file. It was supposed to mark it for a human to see if they need to override it, or call biz owner to get the info (2) BUT, instead of sending a “specific” response to biz owner saying, “Hey Bob, I need Schedule C from your 1972 tax return, or, Hey Bob, I need the middle name of your grandmother, or, I want to know what you had for dinner on your 14th birthday, it is basically triggered (wrongly, of course!) to send out these denial emails.
If you all notice that these are very generic emails with same “unsatisfactory credit history” template because nobody told the software what to do. They must have made some changes/updates yesterday that resulted in this “unintended consequences.” When you program something, and when you have no time to test in an controlled artificial environment to see what software will do in real time with these new changes, you can have these weird things happen in real time. This is why they test before going live. Here, nobody had time to test. They are doing things quick!
As you can see they are muzzling it through the queue and we should not expect them to test changes in lab environment first before going online in real time.
No doubt they have figured it out that this software glitch will cause riots, so I am sure their programmers have fixed it already.
I would not read much into it. You are NOT declined.
Rest assured you WILL hear from a “human” in due course and/or your will get your portal link.
Mark this as a software glitch. You are NOT out. As much as this whole experience sucks, but they are not setup to process 3-4 million apps in 3-4 weeks.
No, the software will NOT apologize over it -:)
Hope this calm down those who got decline email.