Importance Of Loan Processors

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Importance Of Loan Processors

Importance Of Loan Processors: Loan Officers Secret Weapon

So, you are in the mortgage process and dealing with a Loan Officer that you hopefully chose wisely and is someone who has your best interests in mind.  Now if you don’t have solid referrals about this individual, you will not know just how good they are until your rate is locked and your loan is deemed Cleared to Close or “CTC.”  If you are under the impression that the loan officer is doing all the work to get you to the closing table, you obviously aren’t aware of the Importance Of Loan Processors and that this is your loan officer’s secret weapon.  You can’t always attribute your good experiences with your loan officer solely on him/her but the loan processor must share in that praise as well.

Importance Of Loan Processors: How They Help You

When looking into the Importance Of Loan Processors you just need to understand all that they do and how they make the mortgage process even easier, and it is very easy to pick out loan processors who aren’t the best at what they do.  The loan processor is one of, if not the single most important person that the loan officer has and a good loan processor is a very valuable commodity to have.  In essence, it is up to the loan processor to take your loan and get it to underwriting in the most efficient way possible in order to make underwriting’s job easier so it is easy to get a clear to close.  Loan processors are working behind the scenes to take care of all the problems that may arise and are getting information from borrowers as well as Letters of Explanation or LOX’s for certain situations that need them.  If you are looking for an analogy, the loan officer is the one who went to the store and bought a cart full of groceries, but the loan processor is the chef and gets your food to the plate.  Their job is to be meticulous and ensure all the I’s are dotted and T’s are crossed.

Importance Of Loan Processors: Conclusion

As you can see, I have outlined the Importance Of Loan Processors and why they should be a valued position in a mortgage lending operation.  If you talk to any loan officer’s in the industry, they have more than likely worked with a bunch of different company and even more loan processors.  A loan officer can probably tell you off the top of their head how many bad loan processors they ran into.  When you are trying to ensure to borrowers that you can close loans in 30 days, this will only happen with quality loan processors and an operations team.  The Importance Of Loan Processors cannot be valued because their efficiency will also determine how quickly a loan officer will get paid.  In essence, the sooner a loan closes, the sooner a loan officer can get paid and also the sooner the company and branch can get paid for the loan as well.  If you have everything streamlined, there is no reason a 30-35 day close shouldn’t happen, even on the difficult loans.  If you can’t see the Importance Of Loan Processors you can feel free to give me a call and I can go over this with you.  If you are looking to work with an all-star team of processors, then you need to get your loan started today!  Please feel free to call me at 888-900-1020, email me at contact@loanconsultants.org, or visit my website www.loanconsultants.org.  I look forward to making your mortgage process easy and care-free!

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