What Do Loan Processors Do?
If you are in the mortgage business, then I am sure that you have a pretty good idea of what they do. If you are just researching for information, I am just going to give you an elementary explanation of what a loan processor does in the industry and how they help homeowners. One of the greatest tasks that a loan processor has is analyzing the loan. They are relied upon by the loan officers who begin the loan process and then pass the information to the loan processor who in essence reviews the borrower’s information as well as communicates with the underwriting of the lender that is going to initially push the loan through. They are basically the pushers for the loan officer. The Loan officer gathers the information and the processor pushes the information along. It is important for the loan officer and the processor to have a good relationship because communication is the basis of a successful loan being pushed through. If there is very little or no communication at all, then the loa
Related Questions
- Our processors operate from a centralized location but loan officers and underwriters operate all over the country from the comfort of their own home, much as Account Executives and Business Development Officers do for SBA lenders and many banks. Q: Is PetroMAC aware of sites that are for sale?
- Is the test just for Loan Originators OR do all loan professionals (underwriters, transaction coordinators, assistants, processors, etc) have to take it also?
- How must Loan Processors handle loan files?
