Mortgage Realty USA

It is our criteria that a Loan Processor is the principal mechanism of this industry and beyond the knowledge and experience, both indispensable aspects, the individual’s attitude towards his work must be excellent because it requires many qualities: dynamic, initiative, excellent memory, responsibility, seriousness and good public relations skills.

In our company, the Loan Processor also plays the role of assessor and guide in the preparation of the Loan Specialists that initiate in this activity because beyond the initial training provided, continuation of such must remain constant, and the Loan Processor provides this invaluable contribution as the team begins to take shape.

For the better development of our Loan Processors, our company offers all the necessary conditions when it comes to logistics, equipment and offices with the necessary privacy in a friendly and familiar environment in addition to flexible work hours.

Among all the principal functions that we consider necessary:

- Obtain the credit report of the client that wishes to buy or refinance his/her property and according to such report, employment information, financial status, etc., proceed to pre-qualify the him/her with the multiple lenders we are approved.

- Once the pre-approval is received, put together a Good Faith Estimate in order to calculate what the closing costs will be.

- Afterward, prepare the 1003 application in Point in tight communication with the Loan Specialist, making sure that all the disclosures and additional forms are correct before being provided to the client to sign.

You will need to request:

Verification of Employment
Deposit, rent or mortgage history
Condo questionnaire, appraisal and title conmitment (plus copy of the deposit check and letter)
Flood certificate
Hazard insurance

You will need to verify and revise:

All the information on the file
Bank statements, W-2s and pay stubs
Identity documents such as Social Security, residence card and driver’s license.
Fully executed contract

Once the file has been submitted, arduous work will ensue in close cooperation with the Loan Specialist with the goal to meet and complete all conditions required by the lender until the time when we can rejoice in the fruit of our labor by having a grand closing.

The Loan Processor needs to keep up to date constantly with all the different programs offered in the market by the many lenders which is why our company is visited frequently by representatives of these lenders with whom we maintain a close business relationships. All these lenders communicate directly with our team updating us with the new programs they have and their work system.

It is very important to have good relations not only with the lenders, but with its processors, underwriters, appraisers, title agents, insurance companies, inspectors, etc.