Home > Term: mortgage loan processor
mortgage loan processor
A professional who verifies, compiles, and types application information for mortgage loans. Respnsibilities include:
- Reviews residential loan application file to verify that application data is complete and meets establishment standards, including type and amount of mortgage, borrower assets, liabilities, and length of employment.
- Recommends that loan not meeting standards be denied.
- Calls or writes credit bureau and employer to verify accuracy of information.
- Types loan application forms, using computer.
- Calls specified companies to obtain property abstract, survey, and appraisal.
- Informs supervisor of discrepancies in title or survey.
- Submits mortgage loan application file for underwriting approval.
- Types and mails approval and denial letters to applicants.
- Submits approved mortgage loan file to mortgage loan closer for settlement.
- Records data on status of loans, including number of new applications and loans approved, canceled, or denied, using computer.
- Sõnaliik: noun
- Valdkond/domeen: Professional careers
- Category: Occupational titles
- Company: U.S. DOL
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Looja
- Jason F
- 100% positive feedback
(United States of America)