What are the steps of the Loan Processing?
Print This Answer Your loan originator will give you a loan application to complete. This application contains information such as address, employer, income, liabilities, and assets such as checking/saving accounts, stocks, bonds (you will need copies of most recent statements for these). The processor will review this information to assure all documentation is complete and send this with the appraisal to the underwriter. The underwriter will make the decision to approve or to disapprove your loan. If approved, a closing date will be scheduled with an attorney or title company to handle the closing.
