Maryland Realestate License

Mortgage Loan Processor

It is usually at this point in the mortgage process that you will be introduced to the Mortgage Loan Processor, who is responsible for assembling the required documents, verifying them, and sending the loan package in a prescribed order to be underwritten. Processors perform a very critical function in the mortgage process.

It is important that you provide all the documentation requested to your processor or loan officer, so that they may submit a complete package to be underwritten.

Once all the required documentation is assembled, it will be sent by courier or sometimes faxed to be underwritten. The Underwriter’s job is to review and make a loan decision based on the information and documentation provided and make certain that it is within the underwriting guidelines set up by the lender.

Usually there will be some conditions to be met for a “final” loan approval. It is important to remember the complexity of this process and not be frustrated or angry if the processor or loan officer ask you for additional information, sometimes just days before closing is scheduled. Sometimes these requests will seem ridiculous, or asking for information that doesn’t seem pertinent. Keep in mind that the Underwriter is simply trying to do their job, and has checklists they must follow.