Loan Processor job description template
The buyers applying for an FHA or VA loan are assigned an FHA or VA case number. We help you order the number online by filling the form on your behalf. As incomplete requests may lead to a delay in generating the number, we execute this task meticulously to ensure there is no delay whatsoever.
What is Loan Processing?
Our in depth review of your loan file will ensure a smooth and seamless flow to the closing table. When looking for an outsourcing partner for your lending company, you should consider the credibility of the BPO firm. There might be tons of affordable services available but the security and quality is questionable. That’s why you should look for an outsourcing business that has an ISO-Certification to guarantee your data security. Let us deal with your B2B transaction by creating a team that will follow up with banks about loan processing steps.
Ready to handle more mortgage business?
By outsourcing the mortgage loan processes to a third-party service provider, the company is no longer required to follow up with their clients. The service provider will follow up for any kind of repayments and defaults. mortgage processing companies in colorado will give you ample amount of time to concentrate on your core competencies. The whole loan purchase review is an essential part of the acquisition, sales, and servicing of loan collateral. This review will be diligently completed to mitigate the risk for vendors. Flatworld’s mortgage user experience support is designed to enhance the quality of engagement with mortgage clients.
The most successful MLOs always have reliable partners
Adapt our service delivery with your preferred technology to process greater number of applications and preserve data integrity. We conduct a complete credit check of prospective borrowers to ascertain their credit worthiness. This includes pre-screening of credentials, obtaining and checking credit reports, credit history, FHA authorizations, Social Security status, and more. We also check for existing loans with MERS, payment defaults, tax returns and transcripts, etc. During your onboarding call, we’ll gather all the necessary information to start processing your loans. We’ll then schedule your kickoff call where you will meet your processing team.
Refrain from making any changes to your current financial position. If a change is unavoidable, please review with your originator and loan processor. Each Consumer and Originator will have a dedicated loan processor for their transaction who will maintain constant communication via email during the process.
They assemble and administer the documentation necessary to obtain loan approval, as well as act as a guide during the process. Think of this as the construction of the exterior walls and roof of a home. After that, there is a collaboration between the loan processor and the underwriter that dispositions the loan. During this step, the underwriter may request clarification of information, and you may need to provide additional documentation or letters of explanation.